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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
UBS warns of a volatile market as copper, dubbed "the gold of the energy transition," faces a supply shortage, potentially leading to a super cycle. Following a peak in May, copper prices have sharply corrected due to weak economic data from the USA and China, presenting a potential entry opportunity for investors. A report highlights three promising copper stocks that could benefit from a price rebound.
The Swiss economic outlook remains pessimistic, with the UBS-CFA indicator indicating a slight improvement but still in negative territory for the fifth consecutive month. Analysts expect a continued downturn in Switzerland, the eurozone, and the USA, while China's growth outlook has improved due to new economic stimulus measures. Interest rate expectations have decreased, with many anticipating inflation to drop below one percent in Switzerland by 2025, though views on the Swiss franc's exchange rate are mixed.
Goldman Sachs strategists anticipate a rise in Chinese stocks within two to three months following the US presidential election, despite potential initial volatility if Donald Trump wins. They noted that China equities remained stable amid recent Trump-related risks, indicating resilience and a bullish sentiment for China post-election.
Daimler Truck reports a $195 million impairment loss while Philip Morris plans to close two production sites in Germany. In North America, Reddit shares soar 25% post-results, while AMD and First Solar drop 7%. Schneider Electric reaffirms 2024 targets after strong Q3 sales, and UBS posts $1.4 billion in Q3 earnings.
Investcorp Holdings has secured three deals through a new investment vehicle supported by China's sovereign wealth fund, aiming to raise approximately $750 million. Initially, the firm planned a $1 billion fund to leverage the growing economic ties between Gulf oil exporters and China. Chief Investment Officer Rishi Kapoor shared insights on the fund's progress during an interview.
Policymakers in the U.S. and China are adopting pro-growth strategies to bolster their economies. The Federal Reserve is taking a proactive stance to ensure a soft landing amid solid economic data, while China aims to stabilize its real estate and stock markets and support consumer spending.
The SMI index is experiencing a decline, with attention focused on UBS. In Asian currency trading, the dollar has slightly increased to 153.31 yen, influenced by the Japanese ruling coalition's loss of parliamentary majority. It also rose to 7.1355 yuan and 0.8676 Swiss francs, while the euro remained stable at 1.0815 dollars and increased to 0.9384 francs.
A new cohort of exchange-traded funds tracking China's A500 index has attracted approximately 30 billion yuan ($4.2 billion) in inflows since their launch, boosting their total size to 52 billion yuan. This surge reflects a growing interest in the new benchmark, with one ETF managed by Guotai Asset Management increasing over sixfold.
Xiaomi delivered over 20,000 SU7 electric vehicles in October, aiming for 100,000 by the end of November. The company also announced preorders for the high-end SU7 Ultra, priced at over $110,000, which received 3,600 orders within 10 minutes. Analysts predict Xiaomi will deliver 250,000 cars next year, bolstered by its competitive pricing and recent performance on the Nurburgring race track.
Japanese stocks rose, driven by the tech sector, while most Asian markets declined amid caution ahead of the US election and the Federal Reserve's rate decision. Gold reached a new record as traders anticipated potential market disruptions, and Bitcoin approached its all-time high. With the Bank of Japan's upcoming decision and a key meeting in China, Asia's regional equity benchmark is poised for its worst monthly performance in a year.
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