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.
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.
Japanese investors purchased ¥859.6 billion ($5.6 billion) of German sovereign debt in September, marking the highest acquisition since 2018. In contrast, they continued to divest from French bonds for the fifth consecutive month, reflecting growing concerns over France's financial stability.
Nissan Motor Co. shares continued to decline, dropping as much as 5% in early trading after a 6% fall on Friday, totaling a loss of around $1 billion in market value. The company's plans to cut thousands of jobs and reduce production capacity have raised concerns about CEO Makoto Uchida's turnaround strategy.
Mingtiandi's inaugural Tokyo Forum features industry leaders from AXA, UBS, and Norges discussing real estate investment challenges in Japan and Asia. The event, attended by over 230 executives, highlights Japan's active real estate market and includes panels on hospitality, commercial, and industrial sectors. Future online forums on logistics and data centers are scheduled for next year, alongside in-person events in Singapore and Tokyo.
Distributed area networks enhance wireless service quality by utilizing multiple antennas linked to centralized base stations, addressing spectrum scarcity in urban areas. North America leads in wireless infrastructure investment, driven by 5G deployment, while Asia-Pacific experiences rapid growth due to significant telecom investments. The commercial sector dominates market share, with 4G networks still foundational for mobile communications, and distributed networks providing essential coverage in densely populated areas.
Sony Group Corp. has raised its revenue outlook to ¥12.71 trillion ($83.2 billion) for the fiscal year ending in March, driven by strong music sales and ongoing success in PlayStation games. In the September quarter, the company reported an operating profit of ¥455.08 billion, a 73% increase, surpassing analyst expectations of ¥335.3 billion.
US equity markets surged following a red sweep in the presidential election and a 25 basis point Fed rate cut, bringing the Federal Funds rate to 4.50%-4.75%. The ASX 200 also rose by approximately 2%, supported by US market trends, while the RBA maintained its rate at 4.35%. Key economic indicators are set for release next week, including US CPI and Australia's employment report.
Goldman Sachs has promoted three Japanese nationals to partner, marking the highest number of promotions in over a decade, driven by a resurgence in local financial markets. Kazuya Iketani, co-head of Japan fixed income, currencies and commodities, joins Kosuke Kurosawa, who manages Japan equity and fund core structuring, and Teppei Takanabe, head of the financial institutions group in Japan.
Nissan Motor Co. faces heightened debt-default risk, with the cost to insure its bonds against nonpayment rising to 180 basis points, the highest level since March 2023. This surge follows the automaker's profit outlook cut and the announcement of 9,000 job cuts, raising concerns about its credit health. Nissan's credit-default swaps have now become Japan's fourth highest, surpassing those of Sharp Corp.
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