Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Asian markets steadied on Tuesday as traders awaited an expected rate cut by Australia's central bank and key earnings from Chinese companies. The Australian dollar hovered near a two-month high, with markets pricing in an 89% chance of a 25-basis-point cut. Japan's Nikkei rose 0.3%, while S&P 500 futures gained 0.2% and European futures remained flat.
Overnight, Europe's STOXX 600 index climbed 0.5%, driven by a 4.6% surge in defense and aerospace stocks, reaching record levels due to increased defense spending amid the Ukraine conflict. Investors anticipate strong earnings growth in the sector, labeled a "supercycle" by analysts. European banks also rose 1%, hitting 17-year highs amid rising bond yields.
French President Emmanuel Macron hosted an emergency summit on Ukraine, while Britain expressed readiness to send peacekeeping troops. U.S. and Russian officials prepared for talks in Saudi Arabia, though Ukraine's President Zelenskiy rejected any decisions made without Ukraine's involvement.
Chinese markets rose after President Xi Jinping met with business leaders, though Baidu shares steadied after a previous slide. BHP shares rose 0.6% despite reporting its lowest first-half profit in six years, citing signs of China's economic recovery. Alibaba will report earnings later this week.
The euro hovered below $1.05, the yen was firm at 151.74, and the pound traded near a two-month high at $1.26033. Gold eased from record highs at $2,895 an ounce, while Brent crude held steady at $75.16. OPEC+ is considering delaying supply increases despite calls from former U.S. President Trump to lower prices. Key global business activity data and German elections are also in focus this week.
