U.S. Stocks Slip as Gold Rebounds Ahead of Year-End, Markets Eye 2026 Outlook 
Wall Street Ends Mixed as Tech and Financial Stocks Weigh on Markets Amid Thin Holiday Trading 
Asia Manufacturing PMI Rebounds as Exports and Tech Demand Drive Growth into 2026 
Singapore GDP Growth Surges in 2025 but Outlook Remains Cautious Amid Global Trade Risks 
Japanese Business Leaders Urge Government Action as Weak Yen Strains Economy 
Federal Reserve Begins Treasury Bill Purchases to Stabilize Reserves and Money Markets 
U.S. Stock Futures Slip as Year-End Trading Turns Cautious 
Oil Prices Stabilize at Start of 2026 as OPEC+ Policy and Geopolitical Risks Shape Market Outlook 
South Korean Won Slides Despite Government Efforts to Stabilize Currency Markets 
Gold Prices Rebound in Europe as Geopolitical Tensions and Fed Outlook Support Bullion 
USDA $12 Billion Farm Aid Program Draws Mixed Reactions from Row Crop Farmers 
Oil Prices Slip Slightly as Markets Weigh Geopolitical Risks and Supply Glut Concerns 
Forex Markets Hold Steady as Traders Await Fed Minutes Amid Thin Year-End Volumes 
South Korea Exports Hit Record High as Global Trade Momentum Builds 
South Korea Inflation Rises to 2.3% in December, Matching Market Expectations 
U.S. Dollar Slides Toward Biggest Annual Loss Since 2017 as 2026 Risks Loom 
China Manufacturing PMI Rebounds in December, Offering Boost to Economic Growth Outlook 
BYD's Impressive Q3 Performance
Chinese electric vehicle (EV) manufacturer BYD announced an 11.5% increase in net profit for the third quarter of 2024, fueled by strong sales and government trade-in incentives. The company reported a net profit of 11.6 billion yuan ($1.63 billion) for July to September, marking an 18.1% rise to 25.2 billion yuan for the first nine months of the year.
Revenue Growth and Competitive Landscape
BYD's revenue soared by 24% year-over-year to 201.1 billion yuan ($28.24 billion), surpassing Tesla's quarterly revenue of $25.2 billion for the same period. This achievement marked BYD's first significant revenue win over Tesla since it ceased gasoline vehicle production in 2022. Despite this, Tesla maintained a lead in global EV sales.
Record Sales Driven by Incentives
In the third quarter, BYD captured over one-third of total EV and plug-in hybrid sales in China, setting a new monthly sales record in September. The surge in sales has been supported by expanded old-for-new government stimulus measures, which incentivize the purchase of greener vehicles. As of late October, 1.57 million applicants had registered for national subsidies exceeding $2,800 for trading in older vehicles.
Future Outlook
To continue its growth trajectory, BYD has set a higher annual sales target for 2024 and plans to double exports to 450,000 vehicles. Despite facing increased competition in the EV segment, BYD's aggressive discounts and advancements in plug-in hybrid technology have positioned it well for continued success.
