Asian markets opened sluggishly, with the Nikkei up 0.19% and the KOSPI down 1.37%, despite Wall Street's tech-driven gains. Attention is on China's inflation data, expected to show slight improvement, while South Korea faces ongoing political uncertainty that may dampen market sentiment. The Hang Seng Index saw a rally last week, but future gains depend on the upcoming Central Economic Work Conference's outcomes.
Amazon shareholders are advocating for the company to allocate at least 5% of its assets to Bitcoin, citing its strong performance compared to traditional assets like corporate bonds. The proposal, submitted by the National Center for Public Policy Research, suggests that Bitcoin could serve as a hedge against inflation and enhance asset diversification. Amazon's board will review the proposal for potential inclusion in the proxy statement for the annual shareholders meeting scheduled for April 2025.
Asia-Pacific markets opened mixed as investors reacted to Japan's revised GDP and awaited China's inflation data. Japan's Nikkei 225 rose 0.5% following a GDP revision to 0.3%, while South Korea's Kospi fell 1.6% amid political turmoil. In the U.S., the S&P 500 and Nasdaq reached record highs, buoyed by positive jobs data, while the Dow slipped 0.28%.
Donald Trump's incoming administration is set to feature a roster of ultra-wealthy appointees, including Elon Musk, who will co-lead an advisory group aimed at reducing government waste. With an average net worth of $616 million among Trump and his top picks, this administration could surpass the previous one, where the total wealth of Biden's Cabinet was estimated at $118 million. The influx of billionaires raises concerns about potential financial and ethical conflicts, as well as the impact on Trump's populist appeal.
In November, plugin EVs captured a 22.8% market share in Germany, with BEVs at 14.4% and PHEVs at 8.4%. The Skoda Enyaq led BEV sales for the third consecutive month, while Volkswagen Group maintained dominance with the top four BEV models. Despite a weak economy and high prices, new affordable BEVs are expected to emerge in 2025 due to tighter emissions regulations.
Tesla Owners Club Queensland hosted an exclusive event showcasing the Cybertruck, generating excitement among members despite some initial underwhelm regarding its size. Attendees noted its aggressive design and innovative features, while discussions highlighted the challenges of launching the vehicle in Australia due to strict regulations. The event was deemed a success, with calls for Tesla to expedite the Cybertruck's entry into the Australian market.
Apple and Samsung face growth challenges in saturated Western markets, while India presents a significant opportunity with its low smartphone penetration and rising economic status. Chinese brands like Vivo dominate the Indian market, driving a shift towards premium devices as consumers increasingly view smartphones as essential investments. However, the complexity of global semiconductor manufacturing poses challenges for relocating production to India, especially amid geopolitical tensions surrounding Taiwan.
In November, the UK auto market saw plugin EVs capture 35.3% of sales, with BEVs alone accounting for 25.1%. Tesla led the market with 12% share, followed by Volkswagen and Mercedes. As manufacturers rush to meet the 2024 ZEV mandate, significant discounts on BEVs are expected in December.
Bitcoin has surged past the USD 100,000 mark after a seven-month consolidation, driven by both "Trump trades" and solid fundamentals. Traditional asset managers are increasingly adding Bitcoin to their portfolios, aided by ETF approvals, while the industry anticipates regulatory changes under the Trump administration. This, combined with a global easing of monetary policy, could further energize the crypto markets.
In Q3, electric and hybrid vehicles achieved a record 19.6% share of the US auto market, driven by a rise in hybrid sales, while BEV sales dipped to 7.0%. Luxury BEVs comprised 70.7% of BEV sales, with Tesla holding 48.8% of the market. Notably, 78.9% of BEVs sold were produced in North America.
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