The Ibovespa edged higher to close at a record high of 153,938 on Friday as markets assessed a batch of corporate earnings amid hopes of an improving macroeconomic backdrop. Domestic producer prices fell for the first time in over one year in October, raising hopes that disinflation for consumers may allow the central bank to start cutting interest rates next year. Banks closed higher as long-dated benchmark rates dropped, with Itau, Bradesco, and Santander Brasil adding between 2% and 0.5%. Energy stocks also surged amid the rebound in crude oil prices, with Prio, Vibra, and Ultrapar adding more than 4% each. Meanwhile, Petrobras rose 3.4% after posting a growth in profit for the quarter, as an increase in crude oil production offset the slide in benchmark prices in the period due to a series of output hikes by OPEC+ members.

Brazilian Stocks Close at New Record

The S&P/TSX Composite erased losses to close 0.5% higher at 29,912 on Friday as investors assessed corporate earnings and strong labor data. The domestic unemployment rate unexpectedly dropped to 6.9%, while employment surged and wage growth increased, reinforcing signs that the BoC’s easing cycle is unlikely to continue. Commodity giants led the gains as gold and oil prices ended the week higher, with Canadian Natural, Barrick Gold, Wheaton, and TC Energy advancing between 4% and 2%. Meanwhile, Enbridge closed 1% higher despite reporting an EPS of C$0.46, below forecasts of C$0.54. Also, Shopify fell 2.4% as markets continued to pressure companies with bets on AI for exaggerated valuations.

Canadian Stocks Close Higher

US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by the University of Michigan survey, which came out at the second-worst reading on record in November. Consumer defensive and energy companies led the gains, with Exxon Mobil, T-Mobile, and Coca-Cola adding more than 2%. In turn, concerns that valuations for AI companies have been stretched too far continued to pressure the tech sector, with Tesla dropping 4% while Meta and Oracle fell 2%.

US Stocks Erase Losses Before Close

In Frankfurt,  the DAX Index dropped 186 points or 0.78 percent on Friday. Losses were led by Zalando (-8.18%), Scout24 (-5.10%) and Infineon (-3.13%). Offsetting the fall, top gainers were BMW (2.02%), Henkel (1.83%) and Rheinmetall (1.81%).

The DAX Index Closes 0.78% Lower

The FTSE MIB fell 0.3% to close at 42,918 on Friday, tracking global market losses as investors questioned the sustainability of the recent rally in artificial intelligence stocks. STMicroelectronics slipped nearly 2%, remaining pressured by concerns over future AI returns relative to its capital expenditure. Meanwhile, Prysmian fell 4% as investors grew cautious about the durability of its strong profits, which may have been influenced by one-off items. Similarly, Unipol fell 3.8% despite a 54.7% rise in nine-month earnings. Also, Iveco edged lower after Italy approved its sale to Tata Motors, which will divest its defense unit to Leonardo. Leonardo rose 1.8% after reporting a 23.4% jump in new orders as the surge in defense investment by NATO governments supported the European defense sector this year. The day’s standout performer was Banca MPS, which gained 4.4% after third-quarter profit exceeded estimates and the bank raised its 2025 outlook.

FTSE MIB Retreats Amid Tech Weakness and Mixed Earnings

Germany's DAX closed about 0.7% down at 23,556 on Friday, the lowest since September 25, extending losses from the previous day. Global sentiment was weighed by concerns over lofty valuations in AI-related stocks, while macroeconomic and monetary uncertainty persisted amid the prolonged US government shutdown. In the meantime, the earnings season continued to be monitored. Zalando led the losses, falling 7.9% in a technical correction following a strong rally in the prior day on upbeat Q3 results. Scout24 followed closely, shedding 4.5%, after delivering its results. By contrast, Rheinmetall (+2.4%) was the top performer, tracking gains in Hensoldt (+4.9%) after the defense electronics group reported a sharp rise in orders in the first nine months of 2025. Shares of automakers such as BMW (+2.2%), Porsche Automobil (+1.7%) and VV (+1.5%) also advanced firmly following reports that China lifted its export ban on Nexperia chips. For the week, the index declined about 1.7%.

DAX Ends in the Red, Posts Weekly Loss

In London,  the FTSE 100 Index fell 61 points or 0.62 percent on Friday. Leading the losses are Rightmove (-12.15%), International Airlines Group (-10.90%) and Auto Trader (-5.48%). Top gainers were Hikma Pharmaceutical (4.47%), WPP (3.64%) and Diageo (3.04%).

The FTSE 100 Index Closes 0.62% Lower

The S&P 500 fell 1.1%, the Nasdaq plunged 1.9% and the Dow Jones declined more than 300 points on Friday, extending the previous session’s losses and pointing to another weekly decline, amid concerns over AI stock valuations and the health of the US economy. The University of Michigan’s consumer sentiment fell to 50.3, the second-lowest on record, as consumers grew increasingly concerned about the potential economic fallout from the government shutdown. Early in the week, data also pointed to a cooling labour market. Tech remained the biggest loser, followed by consumer discretionary while consumer staples and energy outperformed. Nvidia slipped 4.1%, marking a fourth straight day of losses. Other megacaps were also weaker, including Amazon (-1.3%), Meta (-2.4%), Alphabet (-2.8%), Broadcom (-4%), and Oracle (-3.6%). Tesla fell 3.8% after shareholders approved Elon Musk’s potential $1 trillion pay package. For the week, the S&P 500 is down 1.8%, the Dow Jones 1.4%, and the Nasdaq 2.8%.

US Stocks Extend Losses

The S&P/TSX Composite more than 0.5% to below 30,000 on Friday as investors assessed corporate earnings and strong labor data, which could end the Bank of Canada’s rate cuts. The unemployment rate unexpectedly dropped to 6.9%, while employment surged, reinforcing signs the BoC’s easing cycle is over. Meanwhile, Enbridge lost 1.6% after reporting EPS of C$0.46, below forecasts of C$0.54. Shopify fell 3.9% despite solid revenues, as its gross margin slipped to 48.9%, yet the stock retains a “Moderate Buy” rating. At the same time, Constellation Software lost 0.4% ahead of today’s results, with higher revenue and earnings expected. In contrast, Wheaton Precious Metals gained 2.5% even though Q3 EPS of $0.62 came slightly below estimates, while revenue reached $476.3 million versus $492.6 million expected.

TSX Falls as Strong Jobs Data Signals End of Rate Cuts

The S&P 500 fell 0.6%, the Nasdaq lost 0.9% and the Dow Jones declined more than 200 points on Friday, extending the previous session’s losses and pointing to another weekly decline. Persistent concerns over AI stock valuations and uncertainty about the Fed’s next rate move kept investors cautious, amid growing divisions among policymakers and worries about the labor market. The ongoing government shutdown continues to delay key economic releases, including the jobs report originally scheduled for today. Tech remained the biggest loser, followed by consumer discretionary while consumer staples outperformed. Nvidia slipped 2.4%, marking a fourth straight day of losses. Other megacaps were also weaker, including Apple (-0.3%), Amazon (-1.2%), Meta (-1%), Alphabet (-1.5%), Broadcom (-2.5%), and Oracle (-3%). Tesla fell 4.4% after shareholders approved Elon Musk’s potential $1 trillion pay package. For the week, the S&P 500 is down 1.8%, the Dow Jones 1.4%, and the Nasdaq 2.8%.

US Stocks Poised to Finish Week in the Red

US2000 decreased to 2398.00 Index Points, the lowest since October 2025. Over the past 4 weeks, United States Stock Market Index (US2000) lost 3.45%, and in the last 12 months, it decreased 0.06%.

The Russell 2000 Hit 4-week Low

The Ibovespa was below the flatline to trade below 153,000 on Friday after reaching a record high, as investors assessed earnings reports. Suzano dropped 0.8% after reporting 3Q25 net income of R$1.96 billion, down 39% year-on-year, with adjusted EBITDA at R$5.2 billion, down 20%. Also, Energisa fell 1.9% on a 3Q25 net income of R$648.4 million, down 10.8%. Likewise, Assaí lost 1% after net income of R$195 million, down 1.5%. On the upside, Petrobras gained 0.2% with 3Q25 net income of US$6.02 billion, up 2.7%, and revenue at US$23.5 billion. Alpargatas jumped 8% on 3Q25 net income of R$171.3 million, up 199%, and EBITDA up 87%. Meanwhile, Brazil’s trade surplus reached US$6.96 billion in October, up 70% from a year earlier.

Ibovespa Falls After Record High on Mixed Earnings

Futures tracking Canada’s S&P/TSX Composite Index fell on Friday as markets assessed a batch of corporate earnings and how strong labor data may alter the Bank of Canada's rate outlook. The unemployment rate unexpectedly dropped to 6.9% amid a surge in employment and drop in unemployment, solidifying signals that the BoC would be done with its cutting cycle. Meanwhile, Wheaton Precious Metals reported Q3 EPS of $0.62, below estimates of $0.63, with revenue at $476.3 million versus the expected $492.6 million. Likewise, Enbridge posted earnings of C$0.46 per share, missing forecasts of C$0.54. Looking ahead, Constellation Software is set to report today, with projections of higher revenue and earnings. Last session, Shopify lost 4.5% in the previous session despite strong recent revenues, as its gross margin slipped to 48.9%. Still, the stock holds an average “Moderate Buy” rating from brokerages.

TSX Set to Open Lower on Rate Jitters and Earnings Misses

US stock futures were lower on Friday, with contracts on the Dow Jones, S&P 500, and Nasdaq each down around 0.3%, extending the previous session’s losses and pointing to another weekly decline. Persistent concerns over AI stock valuations and uncertainty about the Fed’s next rate move kept investors cautious, amid growing divisions among policymakers and worries about the labor market. The ongoing government shutdown continues to delay key economic releases, including the nonfarm payrolls report originally scheduled for today. In premarket trading, Nvidia slipped 1.6%, marking a fourth straight day of losses. Other megacaps were also weaker, including Microsoft (-0.4%), Apple (-0.3%), Amazon (-0.7%), Meta (-0.8%), Alphabet (-1.3%), Broadcom (-1.3%), and Oracle (-1.4%). Tesla fell 0.8% after shareholders approved Elon Musk’s potential $1 trillion pay package. For the week, the S&P 500 is down 1.8%, the Dow Jones 1.4%, and the Nasdaq 2.8%.

US Futures Point to Losses at the Open

India's BSE Sensex pared steep early losses to close marginally down at 83,216.3 on Friday, marking its lowest level since mid-October and the third straight day of declines. Relentless foreign outflows and global worries over tech valuations were balanced by optimism over corporate earnings and potential progress in India–US trade talks. US President Trump said on Thursday that his talks with Indian Prime Minister Modi were going well and that he planned to visit the country soon. Tech stocks and consumer goods stocks were among the worst performers.

Sensex Sees 3rd Day of Losses

Germany's DAX moved into negative territory on Friday, down 0.6% to near 23,600, extending losses from the previous day, in line with other European peers. Investor sentiment stayed cautious amid ongoing worries about high tech valuations, while the earnings season progressed. On the data front, Germany’s trade surplus fell to an 11-month low in September 2025, below analysts’ estimates, as the rise in imports outpaced that of exports. The biggest laggards among equities were Scout24 and Zalando, down 3.8% and 2.5%, respectively.

DAX Edges Lower

European stocks reversed early gains to trade lower on Friday, with both the STOXX 50 and STOXX 600 down 0.3%, extending losses from the previous session and remaining on track for weekly declines. Sentiment was weighed by persistent concerns over AI stock valuations and a flurry of corporate updates. Rightmove slumped nearly 12% to the bottom of the STOXX 600 after warning that revenue growth will likely be flat in 2026. IAG dropped 7.3% following a decline in net profit and stagnant revenue, while Novo Nordisk fell 2.3% after raising its bid for Metsera and announcing a deal with US President Trump to cut prices for certain obesity drugs. On the upside, ITV surged almost 15% after confirming talks to sell its media business to Sky for £1.6 billion. Automakers also gained, with Volkswagen up 2.2%, BMW 2.1%, and Mercedes-Benz 1.2%, following reports that China has lifted its export ban on Nexperia chips. For the week, the STOXX 50 is down 1%, and the STOXX 600 has lost 0.7%.

European Stocks Reverse Gains

The CAC 40 was little changed at 7,965 points on Friday, hovering near its lowest level since mid-October after a turbulent week dominated by a wave of quarterly earnings, renewed concerns over stretched tech valuations, the ongoing US government shutdown, and hawkish comments from Federal Reserve officials. The benchmark index is now on track for a loss of more than 3% over the past two weeks, retreating from the record highs reached in October. On Friday, Teleperformance and Edenred led the losses, each slipping around 1.9%, while Veolia and Bureau Veritas both declined by more than 1%. In contrast, luxury stocks outperformed, with Hermès rising 1.7%, LVMH up 0.7%, and Kering adding 0.6%. Outside the main index, Arkema cut its annual guidance, Aperam reported weaker-than-expected Q3 results, JCDecaux posted a decline in revenues, while Euronext announced higher operating income.

CAC 40 Set to End Volatile Week Near Three-Week Low

The FTSE MIB remained nearly flat at around 43,000 in early trading on Friday, pointing to a muted weekly performance as market sentiment stayed cautious. Investors were weighing ongoing concerns over high valuations in the tech sector while digesting a fresh round of corporate earnings. Prysmian led the index lower, falling more than 1%, but this was offset by gains from Banca Monte dei Paschi di Siena, which posted a surprise rise in Q3 profit and announced it would unveil a new strategy early next year following its acquisition of rival Mediobanca. The Italian lender climbed nearly 4%, while Mediobanca added more than 2%. Other notable gainers included Bper Banca (+2.1%), Moncler (+2.6%), and Banca Generali (+2.1%).

FTSE MIB Nearly Flat

Germany's DAX opened slightly higher on Friday before turning almost flat around 23,740, reflecting a cautious sentiment across markets, amid persistent concerns over lofty valuation of tech companies. Meanwhile, investors assessed more corporate earnings from both sides of the Atlantic and some economic data. Regarding domestic data, Germany’s trade surplus shrank to its lowest level since October 2024.

DAX on Cautious Note

The FTSE 100 traded lower on Friday, extending a 0.4% loss in the previous session, due to losses in heavyweight stocks and miners. Weaker economic data from China pressured commodity names, while IAG tumbled over 7%, after the airline flagged soft demand on North Atlantic routes. Analysts noted that roughly half of the revenue drop was currency-driven, but still a concern. Rightmove plunged nearly 18%, the steepest fall in its history, after outlining investment plans that will weigh on margins. JPMorgan and RBC said the strategy makes long-term sense, but investor skepticism remains high. In the FTSE 250, ITV surged almost 20% after confirming talks to sell its broadcast and streaming unit to Comcast. ITV has long been seen as a takeover candidate as it competes with far larger streaming giants like Netflix, Amazon, Apple, and Disney, leaving it a small player in an industry dominated by deep-pocketed rivals.

FTSE 100 Falls on Friday

European stocks were slightly higher on Friday, with the STOXX 50 gaining 0.3% and the STOXX 600 up 0.2%, after a weak session the day before. Despite the modest rebound, both indexes were on track to end a volatile week in negative territory, amid persistent concerns about overvaluation in AI-related stocks and ongoing digestion of fresh corporate updates. ITV shares surged nearly 20%, leading the STOXX 600, after the company confirmed it is in talks to sell its media business to Sky for £1.6 billion. Among major names, performance was mixed: ASML Holding (+0.3%), LVMH (+0.3%), SAP (+0.8%), Hermès (+1.5%), and Siemens (+0.6%) recorded gains, while L’Oréal slipped 0.2%. Novo Nordisk fell 1.8% after raising its offer for Metsera and AstraZeneca declined 0.7%, following strong gains in the previous session. IAG was among the weakest performers, plunging 6.9% after reporting a drop in net profit and flat revenue. For the week, the STOXX 50 is down 1%, while the STOXX 600 has lost 0.7%.

European Shares Edge Higher, Still Down on Week

The IDX Composite advanced 52 points, or 0.6%, to a record high of 8,387 on Friday, rising for the third session and securing a 2.8% weekly rise. Traders shrugged off weak mainland trade data despite China being a key trading partner, as optimism grew over Indonesia’s stable outlook, lifted by resilient growth, solid fiscal liquidity, and recovery in exports. The country's foreign reserves rose to USD 149.9 billion in October from a 15-month low previously, signaling improving external buffers. Sentiment also benefited from stronger U.S. futures, hinting at a Wall Street rebound after Thursday’s tech-led sell-off on stretched AI valuations and U.S. shutdown worries. Gains were led by healthcare, industrial, and consumer sectors, with top movers including Indosat (8.9%), Petrindo Jaya Kreasi (7.1%), and Elang Mahkota Teknologi (7.2%). Still, upside was capped by caution ahead of China’s CPI and PPI data due over the weekend and Indonesia’s October consumer sentiment report next week.

Indonesia Stocks Hit New Record, Log Strong Weekly Gains

The Hang Seng lost 244 points or 0.9% to end at 26,242 on Friday, reversing a 2% rally in the prior session after weak trade data from China. Exports fell 1.1% yoy in October, the first drop since February, weighed by high base effects and cooling foreign demand after months of front-loading. Imports grew 1.0%, the least in five months, on subdued domestic demand. Caution also grew ahead of China’s CPI/PPI data due over the weekend, with deflation risks persisting. Most sectors fell, led by tech stocks as doubts mounted over the sustainability of recent AI-driven gains, while consumer shares slid on uncertainty about further policy support from Beijing. Pop Mart Intl tumbled 6.4%, followed by Kuaishou Tech tumbled 6.2%, Innovent Biologics (-3.5%), and Chow Tai Fook (-2.4%). Still, the index rose 1.3% for the week, rebounding from the prior week’s losses, buoyed by strong foreign inflows into mainland stocks in Q3 and optimism over U.S.-China relations following an extended trade truce.

Hang Seng Closes Notably Lower But Marks Weekly Rise

The Shanghai Composite fell 0.25% to close at 3,996 while the Shenzhen Component lost 0.36% to 13,404 on Friday, with mainland shares snapping a two-day advance after China’s October exports unexpectedly declined 1.1% and import growth slowed sharply to 1%. The drop in exports was partly due to a high base effect as companies front-loaded shipments ahead of last month’s Xi-Trump meeting. Investors now await key inflation data due over the weekend for further clues on the economy’s momentum. Chinese equities also mirrored global weakness amid renewed concerns over elevated AI valuations, with notable losses from Foxconn Industrial (-4.6%), Zhongji Innolight (-1.4%), Zhejiang Sanhua (-3.9%), Eoptolink Technology (-1.9%), and Cambricon Technologies (-3.2%). Meanwhile, authorities reaffirmed that new data center projects receiving state funding must exclusively use domestically made AI chips, underscoring Beijing’s drive for technological self-sufficiency.

China Stocks Fall Amid Weak Trade Data

The S&P/ASX 200 dropped 0.7% to close at 8,770 on Friday, marking its lowest level in over six weeks, dragged by a sharp decline from top investment bank Macquarie and weakness across major lenders. The index also declined 1.3% over the week, marking its second straight weekly loss. Macquarie slid 5.7% to a six-month low after posting a first-half profit miss, hit by softness in its commodities and markets trading division. The selloff in Macquarie weighed on the broader financials sector, which slipped 1.3% on the day, though it still managed a 1.4% weekly gain thanks to earlier strength in Commonwealth Bank and Westpac. Both lenders fell 1.5% and 1.8%, respectively, Resource stocks also declined, with the sector losing 0.7% as gold prices paused and iron ore extended losses. Heavyweights BHP and Rio Tinto dropped 0.8% and 1.3%. Meanwhile, technology shares slid 2.3% to a six-month low, tracking Wall Street’s pullback as investors reassessed lofty valuations in AI-linked firms.

Australian Stocks Finish at Six-Week Low

European equity markets were poised for a subdued open on Friday as caution persisted amid renewed concerns over lofty AI valuations and weak US economic data weighed on sentiment. Investors also awaited fresh German and French trade figures to assess the health of the Eurozone’s two largest economies. On the corporate front, major firms including Daimler Truck, Henkel, and Pirelli are scheduled to release earnings. Meanwhile, Danish drugmaker Novo Nordisk raised its bid for Metsera once again as its takeover battle with Pfizer for the obesity-focused startup intensified. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures hovered flat to slightly higher.

European Markets Set for Muted Open

In Tokyo,  the Nikkei 225 Index dropped 840 points or 1.65 percent on Friday. Losses were led by Hitachi Zosen (-19.53%), Nippon Sheet Glass (-17.85%) and Ajinomoto (-16.19%).

The Nikkei 225 Index Closes 1.65% Lower

The BSE Sensex fell 517 points, or 0.6%, to 82,794, hitting its lowest level since October 15 and marking a third consecutive session of losses. The decline tracked a downbeat session on Wall Street overnight, weighed down by AI-linked and tech stocks. Traders also booked profits following October's sharp rally, while ongoing foreign capital outflows continued to pressure sentiment. However, optimism over Q2 earnings and hopes for a positive US-India trade deal capped the fall, after US President Donald Trump said that talks with Prime Minister Modi on the trade agreement were progressing well and that he could visit India next year. Almost all sectors traded in the red, led by tech, which fell 1.1%. Among the biggest laggards were Bharti Airtel (-4.5%), HCL Tech (-1.5%), State Bank of India (-1.4%), NTPC (-1.35%), and Tech Mahindra (-1.2%). For the week, the index is heading for a 1.4% decline, which would mark the second consecutive weekly loss.

India Stocks Head for 2nd Straight Weekly Loss

New Zealand's benchmark S&P/NZX 50 index rose 0.2% to end at 13,599 on Friday, rebounding from the prior session’s losses, with utility and healthcare stocks leading the gains. Market sentiment remained supported by expectations of further policy easing from the Reserve Bank of New Zealand, after soft labor market data earlier this week strengthened the case for a rate cut later this month. Utility stocks bounced back, with Meridian Energy (+0.3%), Contact Energy (+0.85%), Mercury NZ (+0.6%), and Genesis Energy (+1.2%) all finishing higher. Medical device maker Fisher & Paykel Healthcare (+0.9%) and pharmaceutical distributor Ebos Group (+1.4%) advanced, while aged-care providers Ryman (+0.3%), Oceania (+2.5%), and Summerset Group (+1.0%) also ended higher. Offsetting some of the gains, telecommunications firm Spark NZ extended its slide, falling 2.1%. For the week, the NZX 50 added 0.4%, marking its third straight weekly advance.

New Zealand Stocks Rebound

The Philippine Stock Exchange Index dropped 1% to 5,776 on Friday, hovering near its lowest level in over three years, as market sentiment remained sour following a sharp slowdown in economic growth amid a corruption scandal. GDP grew 4.4% yoy in Q3 2025, easing from a 5.5% gain in the prior quarter. This marked the slowest expansion since early 2021, reflecting reduced public spending tied to an infrastructure corruption probe and disruptions from successive typhoons. Investigations uncovered an alleged scheme among lawmakers, public works officials, and contractors to divert infrastructure funds, leaving projects substandard or unfinished. Meanwhile, the weak data strengthened the central bank’s case for additional rate cuts to support the economy. Major decliners included SM Investments (-1%), Manila Electric (-2%), and Globe Telecom (-3.2%). Meanwhile, Maynilad Water Services, which completed the second-largest IPO in PSEi history, was unchanged on its trading debut.

Philippine Stocks Hover Near 3-Year Lows

The Shanghai Composite fell 0.1% toward 4,000 while the Shenzhen Component lost 0.2% to 13,430 on Friday, with mainland stocks snapping a two-day decline and tracking weakness in global markets amid mounting concerns over stretched AI valuations. Major US AI stocks tumbled overnight, including Nvidia, AMD, Palantir, Microsoft, and Broadcom. In China, tech and AI-related names also retreated, with losses from Foxconn Industrial (-3.9%), Zhongji Innolight (-0.5%), Zhejiang Sanhua (-2%), Eoptolink Technology (-1.6%), and Cambricon Technologies (-1.8%). Meanwhile, authorities directed that new data center projects receiving state funding must exclusively use domestically produced AI chips, reinforcing Beijing’s push for technological self-sufficiency. Investors now await China’s October trade data to gauge the economy’s momentum ahead of key inflation figures due over the weekend.

China Stocks Slip on Weak Global Cues

Shares in Indonesia rose 33 points, or 0.4%, to a new record high of 8,365 in early trade on Friday, extending gains for the third straight session and heading for solid weekly advances. Sentiment improved after reports suggested the U.S. Supreme Court may review the legality of Trump-era tariffs, bolstering global risk appetite. Domestically, Indonesia’s short-term outlook remains stable, underpinned by resilient growth momentum, ample liquidity, and ongoing reform support. However, caution persisted amid concerns over slowing economic activity in China, Indonesia’s top trading partner, ahead of October trade data due later today and CPI and PPI releases over the weekend. On the local data front, central bank figures showed property prices rose at the slowest pace on record in Q3 despite a series of rate cuts since last year. Early gainers included Elang Mahkota Teknologi (5.1%), Mitra Keluarga Karyasehat (4.3%), Kalbe Farma (3.2%), and Golden Energy Mines (3.0%).

Markets in Indonesia Reach Fresh Peak

JCI increased to an all-time high of 8363.00 Index Points. Over the past 4 weeks, Jakarta Stock Exchange Composite Index gained 2.38%, and in the last 12 months, it increased 14.73%.

Stocks in Indonesia Hit All-time High

Hong Kong stocks fell 197 points, or 0.8%, to 26,282 in Friday’s morning session, retreating after their biggest one-day gain since mid-August amid caution ahead of China’s October trade data. Exports are expected to slow sharply after months of front-loading to avoid U.S. tariffs, while imports likely stay weak amid fragile consumer sentiment. Attention also turned to October Chinese CPI and PPI data due over the weekend, with deflation risks still a concern. On Wall Street, stocks declined overnight as renewed tech weakness and worries over the prolonged U.S. government shutdown hit sentiment. Most sectors in Hong Kong dropped, led by tech and property. Notable laggards included Pop Mart Intl (-4.0%), Sunny Optical Tech (-2.8%), Horizon Robotics (-2.7%), and Kuaishou Tech (-2.6%). Still, markets remain on track for solid weekly gains of about 1.4%, supported by optimism over China’s tech self-sufficiency push and a one-year trade truce with the U.S. after the Trump-Xi meeting.

Hong Kong Shares Slip Ahead of China Trade Data

The benchmark KOSPI fell 1.54% to around 3,965 on Friday, reversing gains from the previous session and marking a two-week low following overnight losses on Wall Street. The decline in Seoul mirrored losses in major US indexes, which retreated amid renewed concerns over a potential AI bubble and indications of a cooling labor market. Fears of inflated valuations in AI-related equities weighed heavily on large-cap technology stocks, particularly those with significant exposure to the semiconductor and artificial intelligence sectors, dragging the broader market lower. Most sectors were in negative territory, with technology shares leading losses. SK Hynix (-1.35%), Samsung Electronics (-0.60%), LG Electronics (-4.14%), and Naver (-1.04%) declined in early trade.

South Korean Shares Slip on AI Valuation Fears

The S&P/ASX 200 opened flat to around 8,827 in Friday morning trade, pausing the previous session’s advance, as losses in tech shares outweighed gains in energy and gold stocks. Technology stocks dropped 1.5% to a six-month low, tracking weak lead on Wall Street overnight amid persistent concerns over lofty valuations in artificial intelligence stocks. Sector leaders Xero, Wisetech, and Technology One declined between 1.4% and 2%. Heavyweight miners also slipped, with BHP and Rio Tinto down 0.5% and 1.3%, respectively. Conversely, oil and gas producer Woodside Energy climbed 1.6% after reports showed US LNG exporters locking in strong contract volumes despite higher costs. Additionally, gold miners extended gains on higher bullion prices, up 0.9%, with Newmont and Northern Star adding 2% and 0.7%, respectively. Over the week, the benchmark index is on track for a second weekly loss, partly due to a hawkish policy outlook by the Reserve Bank of Australia.

Australian Shares Open Flat

India’s Securities and Exchange Board (SEBI) and the Reserve Bank of India (RBI) are considering allowing commercial banks to trade in commodity derivatives to enhance market liquidity. SEBI Chairman Tuhin Kanta Pandey confirmed discussions with the RBI to develop a framework that enables “prudential access” for financial institutions. If implemented, this would mark another step in easing capital deployment restrictions for lenders. It follows the RBI’s October announcement permitting banks to finance mergers and acquisitions, a move aimed at energizing India’s USD 40 billion-plus deals market.

India Eyes Deeper Commodity Liquidity via Bank Participation

The Nikkei 225 Index fell 1.3% to around 50,220 while the broader Topix Index lost 0.5% to 3,297 on Friday, erasing gains from the previous session and tracking a tech-led selloff on Wall Street overnight amid renewed concerns about lofty AI valuations and signs of a slowing US labor market. Major US AI stocks slumped, including Nvidia, AMD, Palantir, Microsoft, and Broadcom. In Japan, SoftBank Group (-7.6%) led the decline due to its heavy exposure to AI investments, followed by Advantest (-6.4%), Fujikura (-3.1%), and Disco Corp (-4.3%). Industrial and consumer names also weakened, with notable losses from Mitsubishi Heavy Industries (-2.4%), IHI Corp (-4.1%), Ajinomoto (-2.5%), and Sanrio (-1.1%). Meanwhile, data showed Japan’s household spending rose less than expected in September. For the week, the Nikkei and Topix are on track to lose about 4% and 1%, respectively.

Japanese Shares Track Wall Street Lower

US stock futures inched higher on Friday after a sharp selloff in the previous session, as renewed pressure on tech and AI-linked shares dragged Wall Street lower. On Thursday, the Dow fell 0.84%, the S&P 500 dropped 1.12%, and the Nasdaq Composite tumbled 1.9%. High-flying AI names led the decline, with steep losses from Nvidia (-3.7%), AMD (-7.3%), and Palantir (-6.8%). The pullback reflected renewed concerns about stretched AI valuations, compounded by worries over a deeper labor-market slowdown. Challenger data showed 153,000 announced job cuts in October, the highest for that month in 22 years, much of it attributed to AI integration and cost optimization. With the government shutdown restricting official data releases, investors turned to private indicators that signaled softer economic conditions, further dampening sentiment. All three major indexes are on track to end the week lower, with the tech-heavy Nasdaq down 2.83% so far.

US Futures Edge Higher After Sharp Selloff

The NZX 50 edged down 13 points, or 0.1%, to 13,564 in early trade on Friday, slipping for a second session and retreating from record highs after a sharp sell-off on Wall Street Thursday due to renewed weakness in tech shares and a soft U.S. labor market. Sentiment was also weighed by concerns over a prolonged U.S. government shutdown, now the longest in history. Investors turned cautious ahead of key data in China, New Zealand's largest trading partner, including October trade and CPI/PPI figures, due later in the day. Losses in logistics, energy minerals, and industrial services rattled the benchmark index, with notable decliners including Briscoe Group (-2.6%), Sanford Ltd. (-2.0%), South Port NZ (-1.8%), and Scott Technology (-1.3%). Still, markets remain on track for their third consecutive weekly advance, supported by expectations of further monetary easing from the RBNZ later this month amid soft Q3 labor data.

New Zealand Equities Ease But Head for 3rd Straight Weekly Gains

In New York,  the Dow Jones Index decreased 399 points or 0.84 percent on Thursday. Losses were driven by Salesforce (-5.31%), Nvidia (-3.69%) and Amazon (-2.84%). Biggest rises came from IBM (1.98%), Merck (1.87%) and Coca-Cola (0.79%).

The Dow Jones Index Closes 0.84% Lower

The Ibovespa rose marginally higher to close at a fresh record of 153,338 on Thursday as broadly positive earnings and the central bank’s steady Selic stance combined to sustain buying. Corporate news was the day’s engine with Axia up 1% despite a large drop in adjusted net profit because EBITDA beat estimates, Engie Brasil climbed 1.6% after a 9.8% rise in Q3 adjusted profit, and Vivara jumped 2% on a 64.1% surge in net income and a strong EBITDA beat. Petrobras closed flat while a raft of other reporters moved the tape with Cogna down 1.3%, Fleury and Assaí up about 0.3% each, Caixa Seguridade up 1.3%, Renner and Magazine Luiza weaker, Suzano little changed. Minerva fell 13.5% after net income missed expectations and Brava Energia slid after a 75.8% plunge in quarterly profit. The BCB’s decision to hold the Selic at 15% and reiterate that rates will remain high for a sustained period kept the backdrop supportive for local fixed income and helped steady the rally in the equity market.

Ibovespa Holds to Record Highs

The S&P/TSX Composite fell 0.8% to close at 29,869 on Thursday as investors digested a fresh slate of corporate results while tech tumbled. Cameco was among the weakest names, falling 5.2% after missing earnings expectations. Sun Life Financial tumbled 4.2% after reporting a year-on-year drop in net income and earnings. Tech also plunged, tracking US peers amid mounting doubts over stretched AI valuations, with Shopify down 4.5%, Constellation Software off 5%, Celestica down 3.2%, and CGI shedding 5.2%. Major miners Agnico Eagle, Barrick Gold and Wheaton Precious Metals lost early session momentum, trading flat to negative as gold eased ahead of Wheaton’s results due after the close. Meanwhile, energy names Suncor, Imperial Oil and Cenovus helped limit the decline, each adding around 2%.

TSX Tracks US Peers Lower

US stocks fell sharply on Thursday, with the S&P 500 down 1%, the Nasdaq off 1.7%, and the Dow Jones slipping 317 points as renewed pressure on AI-linked and tech shares weighed on Wall Street. Concerns over lofty AI valuations resurfaced after mixed earnings, dragging Qualcomm 4.5% lower, Tesla 2.8% ahead of its shareholder meeting, and AMD 7%. Oracle and Palantir sank 2.6% and 6.8%, while megacaps Nvidia (-3.8%), Microsoft (-1.8%), Amazon (-2.3%), and Meta (-2.7%) also tumbled. Fears of a deeper labor-market cooling compounded the tech-led slide, after Challenger reported 153,000 announced job cuts in October, the highest for that month in 22 years, much of it tied to AI integration and cost optimization. With the government shutdown limiting official releases, investors relied on private indicators that painted a weaker picture of the economy, adding to risk aversion.

US Stocks Fall Sharply on Thursday

The FTSE MIB fell 0.8% to close at 43,069 on Thursday, snapping a three-day rally and tracking regional losses as investors focused on earnings. Diasorin plunged 19% after a yearly drop in Q3 revenue and a cut to its full-year outlook. Among financials, Mediobanca slid 3.4% after an 11.8% profit fall, weighed by costs tied to Banca Monte dei Paschi’s (-2.3%) takeover bid, while BPER Banca slipped 0.4% as net interest income fell 3.6% despite higher profit. Campari dropped 5.4% amid a tax probe over its 2018 merger and said it will narrow brand focus and expand geographically on pressure from inflation and shifting consumer behaviour. Lottomatica declined 6.1% despite strong online results, citing a disciplined M&A stance. Leonardo lost 1.7% after strong revenues and orders but negative cash flow, and TIM also fell 1.7% after backing telecom sector consolidation.

Italian Stocks Drop on Corporate Weakness

In Milan,  the FTSE MIB Index dropped 370 points or 0.85 percent on Thursday. Losses were led by Diasorin (-18.02%), Davide Campari-Milano (-5.23%) and Buzzi Unicem (-3.61%). Offsetting the fall, top gainers were Azimut Holding (5.17%), Banca Mediolanum (2.49%) and Infrastrutture Wire (1.22%).

The FTSE MIB Index Closes 0.85% Lower

In Frankfurt,  the DAX Index decreased 316 points or 1.31 percent on Thursday. Losses were driven by HeidelbergCement (-4.54%), SAP (-4.43%) and Deutsche Boerse (-4.09%).

The DAX Index Closes 1.31% Lower

In Paris,  the CAC 40 Index fell 109 points or 1.36 percent on Thursday. Leading the losses are Legrand (-12.13%), Teleperformance SE (-4.49%) and Kering (-4.03%).

The CAC 40 Index Closes 1.36% Lower

Germany's DAX lost further ground to close about 1.3% down at 23,744 on Thursday, a level last seen on September 26, moving in line with European and US peers. Market sentiment weakened amid renewed concerns over stretched AI-related stock valuations and fears of a possible AI bubble. Meanwhile, investors weighed a fresh bag of corporate earnings and economic data in Europe. Germany’s industrial output grew 1.3% in September, following  August’s revised 3.7% slump, though the pace of recovery missed the 3% forecast. Heidelberg Materials fell to the bottom of the index, dropping nearly 5% after reporting third-quarter 2025 results that largely met growth and profitability expectations but revealed uneven performance across regions. Commerzbank lost 2%, after the German lender reported an unexpected 7.9% year-on-year drop in net profit.

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