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  • Asian Shares Rise After Two-Day Loss, Dollar Dips: Markets Wrap

    Asian Shares Rise After Two-Day Loss, Dollar Dips: Markets Wrap


    This content was published on

    (Bloomberg) — Asian equities rebounded from their steepest two-day decline since April, as dip buyers returned after a brief pullback in technology shares, driven by concerns about lofty valuations.

    MSCI’s regional gauge rose 1.3%, with Hong Kong and Japan among the biggest gainers. All 11 industry groups in the index advanced, with more than two stocks gaining for every one that fell. Softbank Group Corp. shares rose 0.5% as it explored a potential takeover of US chipmaker Marvell Technology Inc.

    Asian gains came after Wall Street indexes bounced back from Tuesday’s selloff as traders bought the dip on some of the biggest winners of the AI boom. Futures on the S&P 500 and Nasdaq 100 indexes were relatively flat. Qualcomm Inc. shares fell 2.6% in late trading, becoming the latest chipmaker to deliver an upbeat forecast and still leave investors underwhelmed.

    “For investors with cash on the sidelines, the recent market pullback seems like a good time to buy, especially for investors with a longer time horizon,” said Robert Edwards at Edwards Asset Management. “Earnings are crushing it and growing faster than revenues, and that often leads to multiple expansion.”

    After a brief pullback that stirred concerns about stretched valuations, buyers returned as strong earnings momentum and upbeat private economic data lifted stocks. The shift in sentiment came after the global equity rally hit a speed bump earlier this week, when Wall Street executives cautioned that lofty valuations could trigger a correction.

    Concerns about a narrowing cohort of stocks driving equity gains have become louder, while a pivot in the Federal Reserve’s commentary dented optimism about interest-rate cuts.

    Meanwhile, President Donald Trump’s use of broad powers to impose his signature tariffs faced questions at the Supreme Court, which appeared skeptical of the sweeping global levies. Trump announced the century-high levies in April as part of his economic policy to reshape global trade.

    In a nearly three-hour hearing Wednesday, the court hinted it was ready to put significant limits on Trump’s far-reaching agenda for the first time since he took office in January.

    “It will certainly have a place in the back of the mind for investors,” said Nick Twidale, chief market analyst at AT Global Markets in Sydney. “Until it transfers to any action, I don’t think we will see much of a reaction from markets.”

    While the importance of this case and the likelihood of a close split on the court argue for lengthy deliberation, the expedited consideration of the case and likely desire to avoid even larger eventual refunds imply that the court is likely to rule in December or January, Goldman Sachs Group Inc. economists including Alec Phillips wrote in a note.

    In other corners of the market, gold held its gains, while oil edged up after three days of losses. The dollar fell slightly against all Group-of-10 peers, and Treasuries rose. The Bloomberg Dollar Spot Index edged 0.1% lower after snapping a five-day rally on Wednesday.

    The dollar fell most against the yen, which rose after wage data showed faster growth in Japan’s labor cash earnings, supporting the case for the Bank of Japan to normalize its policy.

    Meanwhile, the number of Chinese companies in MSCI Inc.’s global stock gauges has climbed for the first time in nearly two years, setting up the market for more inflows from passive investors.

    More Chinese stocks were added to MSCI’s Global Standard Indexes than deleted in the quarterly shuffle for the first time since February 2024, according to data compiled by Bloomberg. The index provider added 26 Chinese companies and removed 20.

    Corporate Highlights:

    Arm Holdings Plc, which provides the most widely used technology in computing processors, gave a bullish revenue forecast, helped by increasing interest in designing chips to run AI data centers. United Overseas Bank Ltd. shares slumped after the lender set aside its biggest provision of S$615 million ($470 million) citing commercial real estate risks in the US and Greater China. James Hardie Industries Plc shares tumbled after rivals sounded fresh warnings on the US home-improvement market, worsening what’s been a disastrous year for the company’s management and investors. The US will cut flight capacity by 10% at 40 high-volume markets across the country to alleviate pressure on air traffic controllers and the aviation system during what is now the longest government shutdown in history. International routes will be spared. Nissan Motor Co. has agreed to sell its global headquarters in Yokohama for ¥97 billion ($630 million) to a group sponsored by Hong Kong-listed autoparts maker Minth Group. Pony AI Inc. and WeRide Inc. fell on their trading debuts in Hong Kong after the pair of Chinese robotaxi firms battled for investors during their public offerings, which raised more than $1.1 billion. Some of the main moves in markets:

    Stocks

    S&P 500 futures were little changed as of 12:59 p.m. Tokyo time Japan’s Topix rose 1.5% Australia’s S&P/ASX 200 rose 0.3% Hong Kong’s Hang Seng rose 1.6% The Shanghai Composite rose 0.9% Euro Stoxx 50 futures were little changed Currencies

    The Bloomberg Dollar Spot Index was little changed The euro rose 0.1% to $1.1507 The Japanese yen rose 0.2% to 153.88 per dollar The offshore yuan was little changed at 7.1272 per dollar Cryptocurrencies

    Bitcoin was little changed at $103,638.01 Ether fell 0.2% to $3,434.82 Bonds

    The yield on 10-year Treasuries declined two basis points to 4.14% Japan’s 10-year yield advanced one basis point to 1.670% Australia’s 10-year yield advanced five basis points to 4.37% Commodities

    West Texas Intermediate crude rose 0.3% to $59.80 a barrel Spot gold rose 0.2% to $3,987.71 an ounce This story was produced with the assistance of Bloomberg Automation.

    –With assistance from Joanna Ossinger and Winnie Hsu.

    ©2025 Bloomberg L.P.

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  • Evidence for the evolution of male and female cardinals’ plumage colouration being affected by both natural and sexual selection | BMC Ecology and Evolution

    Evidence for the evolution of male and female cardinals’ plumage colouration being affected by both natural and sexual selection | BMC Ecology and Evolution

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  • Sequoia Plans for More AI, Less Partisanship Under Grady and Lin – Bloomberg.com

    1. Sequoia Plans for More AI, Less Partisanship Under Grady and Lin  Bloomberg.com
    2. Sequoia Capital Leader Exits in VC Shake-Up  The Wall Street Journal
    3. Sequoia’s Change in Leadership: Will Advancements in AI Help Restore Broken Trust?  Bitget
    4. Sequoia Capital elevates Alfred Lin and Pat Grady to lead venture capital firm  Pensions & Investments
    5. Meet Sequoia Capital’s new stewards  Fortune

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  • Ten organizations have jointly launched a project titled “Development of Integrated Simulation Platform for Sustainable and Competitive Maritime Industry”

    Ten organizations have jointly launched a project titled “Development of Integrated Simulation Platform for Sustainable and Competitive Maritime Industry”

    1.Project Title:

    Development of Integrated Simulation Platform for Sustainable and Competitive Maritime Industry

    2.Project Leader:

    Hideyuki ANDO, Director of MTI

    3.Co-Leaders:

    MHIMSB Shingen TAKEDA
    Senior Vice President, CTO,
    Head of Marine Engineering Center
    TSUNEISHI Kazutaka SEKI
    General Manager, Ship Planning Dept. & Model Based Design Promotion Dept., Design Div.
    JAMSTEC Yasumasa MIYAZAWA
    Principal Researcher, Seasonal Prediction Center for Shipping Digital Transformation
    JMU Yutaka NISHIMURA
    General Manager, Corporate Planning Department
    MITSUI E&S Kazutaka SHIMADA
    Deputy General Manager, Engine Design Dept.
    NMRI Kunihide OHASHI
    Deputy Director, Fluids Engineering and Ship Performance Evaluation Department
    TSUNEISHI AKISHIMA Koyu KIMURA
    Director, Head of Research & Development Division
    UOsaka Atsuo MAKI
    Professor, Division of Global Architecture
    Graduate School of Engineering
    KU Takeshi ENOMOTO
    Professor, Disaster Prevention Research institute

    4.Project Outline:

    The focus of ship demand will shift toward high-performance next-generation ships that adopt alternative fuels to reduce greenhouse gas emissions, energy-saving technologies such as wind propulsion, and advanced integrated control systems including autonomous navigation. Japan’s maritime industry faces the challenge of developing and supplying next-generation ships with increasingly sophisticated and complex functions in shorter lead time, while also expanding its shipbuilding capacity to meet growing global demand amid a declining labor force.
    To address this, this research and development project will establish an “Integrated Simulation Platform” that enables simultaneous consideration of ship lifecycle and supply chain, at the initial development and design stages, to optimize ship design and construction plans. This project will promote the implementation of virtual engineering concept and techniques into the maritime industry.
    Additionally, regarding weather and sea condition predictions that impact the safe and stable ship operations, a seasonal prediction technology, covering 1 to 3 months in advance, including extreme phenomena such as typhoons, will be developed and integrated into the platform.

    5.Research and Development Items

    Research on Implementation of Integrated Simulation Platform in Society
    Leader: Hideyuki ANDO, MTI
    Participating Organizations: MTI / MHIMSB / TSUNEISHI / JAMSTEC

    Research on Preemptive Development Simulator
    Leader: Kazutaka SEKI, TSUNEISHI
    Participating Organizations: TSUNEISHI / MTI / TSUNEISHI AKISHIMA / NMRI / MITSUI E&S / MHIMSB / JMU

    Research on Ship Design and Ship Building
    Leader: Hiroshi TANAKA, MHIMSB
    Participating Organizations: MHIMSB / JMU / NMRI

    Research on Commissioning and Sea Trial
    Leader: Kiyoko SUGIYAMA, TSUNEISHI
    Participating Organizations: TSUNEISHI / MTI / MITSUI E&S / UOsaka / TSUNEISHI AKISHIMA

    Research on Operation and Maintenance Simulator
    Leader: Ryo KAKUTA, MTI
    Participating Organizations: MTI / TSUNEISHI / TSUNEISHI AKISHIMA / UOsaka / MITSUI E&S

    Research on Seasonal Meteorological and Oceanographic Forecast Simulator
    Leader: Yasumasa MIYAZAWA, JAMSTEC
    Participating Organizations: JAMSTEC / KU / MTI /

    6.Project Period:

    5 years from October 1st, 2025 to September 20th, 2030

    Based on the components of the Integrated Simulation Platform, research and development will be promoted across six R&D items. In 2028, an interim evaluation including a stage-gate assessments will be conducted, and by 2030, the deliverables from each R&D topic will be integrated into the Integrated Simulation Platform (see diagram below), aiming for its demonstration in the design and construction of actual ships.

    Components of the Integrated Simulation Platform

    7.Project Budget:

    Maximum JPY 12 billion

    • Total budget for the R&D Project

    8.Contact Information:

    MTI Co., Ltd.
    JCAST Project Management Office under K Program
    E-mail: [email protected]

    9.Related Links:

    1. JST Press Releases (in Japanese)
      https://www.jst.go.jp/pr/info/info1772/index.html
    2. “Development of Integrated Simulation Platform for Sustainable and Competitive Maritime Industry” has been selected as a R&D project under K Program
      https://www.monohakobi.com/en/company/news/news_20250708/
    3. Additional Call for Proposals for R&D topic 6 of “Development of Integrated Simulation Platform for Sustainable and Competitive Maritime Industry” (in Japanese)
      https://www.monohakobi.com/ja/company/news/news_20250902/

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  • Stocks falter below 160,000 on weak trade data – Dawn

    1. Stocks falter below 160,000 on weak trade data  Dawn
    2. KSE-100 loses momentum, sheds over 1,500 points  Business Recorder
    3. PSX slumps over 1,700 points as investor sentiment weakens  The Express Tribune
    4. PSX drops over 1% as profit-taking weighs on market  Profit by Pakistan Today
    5. PSX stays bearish, loses 1,703 more points  Associated Press of Pakistan

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  • China’s Trade Truce and Five-Year Plan Help Coal Price Recover – Bloomberg.com

    1. China’s Trade Truce and Five-Year Plan Help Coal Price Recover  Bloomberg.com
    2. Expectations of a ‘cold winter’ support strong coal prices during the heating season, driving a short-term rally in Hong Kong-listed coal stocks.  富途牛牛
    3. Asian Coal Imports Set for Decline on Higher Prices  Crude Oil Prices Today | OilPrice.com
    4. Cathay Pacific Haitong: Bottom of the coal sector cycle confirmed, multiple factors driving supply-demand reversal  富途牛牛
    5. Open Source Securities: Coal prices are experiencing inertia-driven increases, and the supply-demand fundamentals of the coal market are expected to continue improving.  富途牛牛

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  • China’s WeRide drives towards ‘ubiquitous’ robotaxi service after Hong Kong listing

    China’s WeRide drives towards ‘ubiquitous’ robotaxi service after Hong Kong listing

    Chinese self-driving technology firm WeRide, fresh off raising HK$2.39 billion (US$307 million) in a Hong Kong share sale, plans to rev up commercialisation of autonomous taxis and expand into markets like the Middle East, Southeast Asia and Japan.

    Tony Han, founder and CEO of the Guangzhou-based company, said WeRide would deploy 10,000 robotaxis worldwide over the next few years, adding that its fleet could eventually grow to hundreds of thousands in line with the ultimate goal of “supplying more ubiquitously available global taxi service”.

    “WeRide, as the first mover and industrial leader in the self-driving industry, will expand to the global market,” he said, adding that the proceeds from the Hong Kong offering would support research and development as well as geographic expansion.

    Han said WeRide also planned to roll out different lines of businesses, such as using premium-level autonomous cars to provide taxi service to wealthy customers.

    “But we definitely will focus on supplying very efficient or economically efficient services to the working class or normal people,” he added.

    WeRide, which already trades on the Nasdaq market, made its Hong Kong trading debut on Thursday, where its shares fell 14 per cent to HK$23.22 at the start of trading. The firm priced its Hong Kong shares at HK$27.10 apiece, a premium of 11.5 per cent to its Tuesday close of US$9.40 on the Nasdaq. One American depositary share is equal to three ordinary shares.

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  • Stock Market Today: Dow, S&P Live Updates for November 6

    Stock Market Today: Dow, S&P Live Updates for November 6

    Asian stocks tracked Wall Street’s gains after dip buyers returned following a brief pullback in technology shares, and signs of a resilient US labor market lifted sentiment.

    MSCI’s regional stock gauge rose 0.9%, with Hong Kong and Japan among the gainers. Contracts for the Nasdaq 100 index fell as much as 0.3% after Qualcomm Inc., the largest maker of smartphone processors, became the latest chipmaker to deliver an upbeat forecast and still leave investors underwhelmed. Its shares retreated 2% in late trading. Futures for the S&P 500 fell 0.2%.

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  • Chinese researchers reveal nicotinamide’s heart-protective effect in tumor treatment

    Chinese researchers reveal nicotinamide’s heart-protective effect in tumor treatment

    LANZHOU — Chinese researchers have revealed the heart-protective effect of nicotinamide — a derivative of B vitamins — in exploring the mechanisms of related cardiotoxicity in tumor treatment, according to Lanzhou University.

    Their study uncovered the mechanisms by which immune checkpoint inhibitors induce early cardiotoxicity, and developed a new, safe and effective approach to preventing and treating cardiotoxicity in patients receiving tumor immunotherapy, the university said.

    Conducted by researchers at the Lanzhou University First Hospital, the study has been published in the Science China: Life Sciences journal.

    Having the potential to result in death, cardiac immune-related adverse events associated with anti-programmed cell death protein 1 (PD-1), which is a type of immune checkpoint inhibitor, are becoming a concern. This study aimed to explore effective means of early warning and prevention, according to Bai Ming, a professor at the Lanzhou University First Hospital and the study”s leader.

    The team first investigated the role of PD-1 in the early stages of cardiotoxicity and its underlying mechanisms by combining clinical data with experiments.

    Then, the researchers conducted randomized controlled trials to verify the preventive effect of nicotinamide against early cardiotoxicity related to PD-1.

    Their findings showed that nicotinamide demonstrates potential in preventing cardiotoxicity in patients receiving anti-PD-1 cancer treatment, according to Bai.

    The clinical transformation of this research also confirmed that nicotinamide — a drug commonly used in clinical practice — is suitable for rapid transformation and application.

    Nicotinamide therapy focuses on “early” cardiotoxicity, making it possible to prevent and treat cardiotoxicity. Therefore, this therapy highlights the concept of synergistic treatment that ensures anti-tumor efficacy while protecting heart functions, per the study.

    “The findings of the study contribute to a better understanding of cardiac anti-PD-1 immune-related adverse events. They show that nicotinamide could be a promising preventive strategy in the early stages of cardiotoxicity, which is associated with the use of such checkpoint inhibitors in cancer treatment,” Bai said.

    “Therefore, this study sheds new light on the well-considered safety issues in tumor treatment,” he added.

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  • Saudi Arabia cuts December oil prices for Asia as OPEC+ boosts output

    Saudi Arabia cuts December oil prices for Asia as OPEC+ boosts output

    Nov 6 (Reuters) – Saudi Arabia, the world’s top oil exporter, has sharply reduced the prices of its crude for Asian buyers in December, responding to a well-supplied market as OPEC+ producers ramp up production.

    State oil giant Saudi Aramco set its December official selling price at $1 per barrel above the Oman/Dubai average, marking the first price reduction since October after it kept rates unchanged in November.

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    The December prices for other grades – Arab Medium and Arab Heavy – fell by $1.40 each to five cents and 10 cents a barrel, while that for Arab Extra Light dropped by $1.20 to $1.30 a barrel, the document said.

    The pricing decision came shortly after the Organization of the Petroleum Exporting Countries and its allies, or OPEC+, agreed on Sunday to a modest oil output increase for December, followed by a pause in production hikes during the first quarter of next year. The producers’ alliance opted to moderate its push to reclaim market share amid growing concerns over a potential global supply glut.

    OPEC+ has raised output targets by around 2.9 million barrels per day, or about 2.7% of global supply, since April, but slowed the pace from October amid predictions of a looming oversupply.

    The price cuts are within market expectations, according to a Reuters survey.

    Saudi Aramco determines its crude oil prices by incorporating feedback from customers and assessing monthly changes in the value of its oil, which are influenced by product prices and market yields.

    As a matter of policy, Saudi Aramco officials do not comment on the kingdom’s monthly OSPs.

    Below are Saudi prices for December in dollars per barrel.

    Reporting by Sarah Qureshi and Ishaan Arora in Bengaluru; Editing by Chris Reese and Sherry Jacob-Phillips

    Our Standards: The Thomson Reuters Trust Principles., opens new tab

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