China gears up for a big week as markets await U.S. elections and stimulus details
The size of China’s highly anticipated stimulus plans will likely depend on the outcome of the U.S. presidential election, analysts say.
Financial News
UK’s Conservatives name Kemi Badenoch as new leader, shifting the party further to the right
The U.K.’s opposition Conservative Party on Saturday named its new leader, following a long-drawn-out runoff after the Tories’ landslide electoral defeat marked a moment of reckoning.
Nvidia to join Dow Jones Industrial Average, replacing rival chipmaker Intel
Nvidia is replacing Intel in the Dow Jones Industrial Average, a shakeup that reflects a massive change in the semiconductor industry.
China’s manufacturing output swings back into expansion in October, private survey finds
The Caixin/S&P Global manufacturing PMI came in at 50.3 in October, beating the median estimate of 49.7 in a Reuters poll.
China’s factory activity expands for the first time since April, official survey shows
China’s official purchasing managers’ index for October came in at 50.1, according to National Bureau of Statistics data released Thursday.
China’s property market is expected to stabilize in 2025 — but stay subdued for years
China’s struggling real estate sector may not start turning around until the second half of next year, even with the latest stimulus measures, analysts predict.
Chinese IPOs in the U.S. and Hong Kong are set to increase next year, analysts say
A few high-profile Chinese listings outside the mainland are adding to expectations for a pickup in initial public offerings next year.
Japan’s ruling coalition loses parliamentary majority in snap election
It is the first time since 2009 that the Liberal Democratic Party has lost its parliamentary majority.
Trump doubles down on replacing income taxes with tariffs in Joe Rogan interview
Vice President Kamala Harris has attacked the tariff policy proposed by Donald Trump, calling it effectively a “sales tax” on Americans.
Elon Musk’s secret talks with Putin ramped up during his Twitter takeover: WSJ report
Tesla and SpaceX CEO Elon Musk has engaged in secret talks with Vladimir Putin since late 2022, The Wall Street Journal reports.