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Celanese Corporation has shifted its rating from buy to neutral by UBS. The company focuses on chemicals and specialty materials, with net sales primarily from acetyl products (55.7%) and high-performance engineering polymers (44.3%). Geographically, the largest markets are the United States (25.8%), Germany (22.6%), and China (17.8%).
Celanese Corporation has shifted its rating from buy to neutral by UBS. The company focuses on producing chemicals and specialty materials, with net sales primarily from acetyl products (55.7%) and high-performance engineering polymers (44.3%). Geographically, the largest markets include the United States (25.8%), Germany (22.6%), and China (17.8%).
Hainan Airlines Holding Co. plans to acquire 40 ARJ21-700 jets from Commercial Aircraft Corp. of China for up to $1.52 billion. The deal, involving the airline's low-cost carrier unit Urumqi Air, will see the aircraft delivered in batches from 2025 to 2032, with each jet priced at $38 million.
UBS has revised its 2025 GDP growth forecast for China to around 4%, down from 4.5%, citing potential US tariffs under President-elect Trump and ongoing weakness in the property market. Other banks like Goldman Sachs and HSBC maintain slightly more optimistic projections between 4% and 5%. As external pressures mount, China is expected to enhance domestic demand through stimulus measures, although concrete actions have yet to be implemented.
China's credit growth in October fell short of expectations, with aggregate financing rising by 1.4 trillion yuan ($195 billion), below the forecast of 1.5 trillion yuan. This slowdown comes amid a significant increase in government bond sales, contrasting with a 1.8 trillion yuan rise in the same month last year.
UBS has successfully piloted its blockchain-based payment solution, UBS Digital Cash, aimed at enhancing cross-border payment efficiency and transparency. The initiative facilitates near-instantaneous transactions in multiple currencies and supports liquidity management for multinational clients. With plans for further development, UBS Digital Cash also aligns with broader blockchain projects, potentially simplifying settlement processes in capital markets.
Switzerland is advocating for major CO2 emitters among developing nations, like China and Russia, to contribute financially to climate projects for poorer countries at COP29. This proposal aims to broaden the donor pool, recognizing that responsibility for climate action should not rest solely on traditional donor countries. The initiative faces skepticism regarding its potential effectiveness and the transparency of contributions from emerging economies.
The SMI is expected to rise slightly as the Swiss franc weakens against the euro and dollar. The dollar remains near a four-month high, gaining 0.5% against the yen and slightly against the yuan and Swiss franc. Investors are awaiting key US inflation data and comments from Fed Chairman Jerome Powell this week.
Javier Milei, Argentina's libertarian president, aligns with Donald Trump's anti-left stance but diverges on trade, favoring fewer barriers. Trump's second term could reshape Latin America, particularly impacting Mexico's economy through potential tariff increases and deportations, while Argentina hopes for financial aid amid its debt crisis.
Asian markets are facing uncertainty due to potential tariffs from the U.S. and China's cautious fiscal policies aimed at stabilizing its economy. The Hang Seng Index is testing a critical support level, while the Nikkei 225 shows resilience amid an ascending wedge formation. Meanwhile, the Singapore Blue Chip Index is on an upward trend, bolstered by a strong banking sector and positive earnings.
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