S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Asian stock markets climbed on Friday, mirroring Wall Street gains, as expectations of multiple U.S. Federal Reserve rate cuts lifted investor sentiment worldwide. Lower borrowing costs are seen as a major relief for global bond markets, while the U.S. dollar eased slightly.
Indexes in Japan, South Korea, and Taiwan hit record highs, supported by optimism around artificial intelligence earnings. Japan’s Nikkei rose 0.6% for the day and 3.7% for the week, while South Korea jumped 1.1%, adding more than 5% weekly. Chinese blue chips reached their strongest levels since early 2022, while MSCI’s Asia-Pacific index excluding Japan gained 1.2%.
The latest U.S. inflation data showed consumer prices staying moderate, reinforcing expectations of policy easing. Analysts at Citi now forecast core PCE inflation holding at 2.9% in August, supporting their outlook for 125 basis points of Fed cuts over the next five meetings. Markets are pricing in a 100% chance of a September cut to 4.00%-4.25%, with a strong likelihood of additional reductions this year. U.S. Treasury yields fell 20 basis points in two weeks, easing mortgage rates and boosting risk appetite.
European shares also rallied, with EUROSTOXX 50, FTSE, and DAX futures up 0.3%. The European Central Bank kept rates unchanged, calling policy “in a good place.” Analysts at JPMorgan expect a possible cut in December, though markets see limited odds of further easing.
In currency trade, the dollar held at 147.23 yen, while the euro firmed near $1.1730. Gold stayed steady at $3,633 an ounce, just below record highs. Oil prices weakened, with Brent at $66.09 and U.S. crude at $62.07, after the IEA warned of a record surplus in 2025 as OPEC output rises.
