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Air India has placed an order to buy 100 more Airbus aircraft, the Tata Group-owned carrier said Monday, in a deal aimed at bolstering its fleet and winning over flyers.The airline said the deal consisted of 10 widebody A350 and 90 narrowbody A320 family aircraft.The new purchase, the company said in a statement, is “in addition” to the orders for 470 aircraft Air India placed with Airbus and Boeing last year.When the two deals were announced, it was the largest order unveiled at the same time by a commercial carrier, with list price calculations for the jets suggesting an estimated value north of $70 billion.”The latest order takes the total number of aircraft that Air India ordered with Airbus in 2023 from 250 aircraft, comprising 40 A350 and 210 A320 family aircraft, to 350,” the carrier said in a statement, without giving price details on the latest order.Since taking over the former national carrier in 2022, the sprawling Tata Group conglomerate has sought to turn around the loss-making airline by ordering new aircraft and upgrading its existing fleet.Tata Sons chairman Natarajan Chandrasekaran said the airline saw a “clear case” for Air India to expand its future fleet beyond the 470 aircraft ordered in 2023.”These additional 100 Airbus aircraft will help to position Air India on the path to greater growth and contribute to our mission of building Air India into a world-class airline that connects India to every corner of the world,” Chandrasekaran said in a statement.Airbus CEO Guillaume Faury said in a statement that he was pleased by Air India’s latest investment.”Having personally witnessed the formidable growth of the Indian aviation sector… I am glad to see Air India renew its trust in Airbus with this additional order,” he said.

Chinese President Xi Jinping and other top leaders said Monday they would adopt a more “relaxed” approach to monetary policy as they hashed out plans to boost the economy next year.The world’s second-largest economy is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt — all of which threaten Beijing’s official growth target for this year.Leaders are also eyeing the second term of Donald Trump in the White House, with the president-elect indicating he will reignite his hardball trade policies, fuelling fears of another standoff between the superpowers.On Monday, the Politburo, the country’s top decision-making body, “held a meeting to analyse and study the economic work of 2025″, state news agency Xinhua said.”We must vigorously boost consumption, improve investment efficiency, and comprehensively expand domestic demand,” Xinhua quoted officials as having said.”Next year we should… implement a more active fiscal policy and an appropriately relaxed monetary policy,” they added.Analysts at SG Markets said the shift represented the first of its kind since 2011.”The readout from the Politburo meeting… is striking all the right notes, with a few notably more dovish phrases and some unusually plainly straightforward pledges,” they wrote in a note.Another analyst said the shift “shows the government recognises the urgency of economic challenges China faces”.And the announcement of efforts to significantly boost consumption in the coming year represents “another positive signal”, wrote Zhang Zhiwei, President and Chief Economist of Pinpoint Asset Management, in a note.- Struggling to rebound -Beijing has unveiled a string of measures since September aimed at bolstering growth, including cutting interest rates, cancelling restrictions on homebuying and easing the debt burden on local governments.And in October, the central bank said it had cut two key interest rates to historic lows.But economists have warned that more direct fiscal stimulus aimed at shoring up domestic consumption is needed to restore full health in China’s economy as fears of a renewed trade war with the United States mount.Underscoring the continued sluggish consumption facing China, official data on Monday showed consumer price growth slowed last month.The consumer price index, a key measure of inflation, came in at 0.2 percent, down from 0.3 percent in October, the National Bureau of Statistics said.That was below the 0.4 percent forecast in a Bloomberg survey of economists.With meetings this week intended to set out broad approaches rather than specific policies, Ting Lu, Chief China Economist at Nomura, wrote in a note that “we expect little from the conference, despite some hyped market expectations”.”Due to the property meltdown, the fiscal crisis, and worsening tensions with the US, China’s economy is not in a normal downcycle, so it may take much more than the recent ‘bazooka’ stimulus package to truly reboot the economy,” wrote Ting.- ‘High pressure’ crackdown -Beijing’s leadership also said it would intensify an anti-corruption drive, calling for a “high-pressure posture in punishing” graft.Xi has overseen a wide-ranging campaign against official corruption since coming to power just over a decade ago, with critics saying it also serves as a way to purge political rivals.Recent efforts have focused on the military, with top official Miao Hua last month joining a host of high-ranking figures to be removed from their positions in just over a year.Officials on Monday pledged to “strengthen the mechanism for investigating and addressing unhealthy practices and corruption”.They also called for China to “deepen integrated efforts to rectify unhealthy practices and combat corruption”, according to state media.

South Korean stocks tumbled Monday as the country was racked with political uncertainty after President Yoon Suk Yeol escaped impeachment following his brief imposition of martial law last week.The retreat came on a tough day for Asian markets despite another record on Wall Street, though Hong Kong bounced in the afternoon after China said it would adopt a looser approach to monetary policy.Traders were also keeping tabs on Syria after president Bashar al-Assad’s removal.Investors in Seoul were on edge after a near-total boycott of Saturday’s impeachment vote by Yoon’s People Power Party (PPP) doomed it to failure.However, the main opposition party said Sunday it would try again, while police arrested the defence minister in charge of the martial law operation and the interior minister resigned.They and Yoon are being investigated for alleged insurrection. The president was also hit Monday with a travel ban.The crisis has fuelled concerns about Asia’s number four economy, which was already struggling and faces further pain as Donald Trump heads back to the White House threatening to resume his hardball trade policy.Michael Wan at MUFG said the hit to the country’s markets “may include slower tourism inflows, weaker domestic demand, and a dent to corporate sentiment, especially if street protests become more vociferous and the budget passage remains in stalemate”.”South Korea was already one of the more vulnerable forex markets in Asia to Trump 2.0’s policies, and the political uncertainty also comes at a juncture just when leadership is needed to navigate these significant global policy shifts.”The won was trading at around 1,435 per dollar Monday, compared with 1,413 on Friday.Hong Kong stocks jumped as top Chinese leaders met to draw up their economic plans for next year, with the Politburo — the top decision-making body led by President Xi Jinping — saying it will embrace an looser monetary policy. Shanghai ended lower, closing before the announcement.Officials said that next year they should “implement a more active fiscal policy and an appropriately relaxed monetary policy”, official news agency Xinhua said.The decision comes as Beijing prepares for Trump’s second presidency amid concerns of another painful trade war between the superpowers.Data released Monday showed Chinese consumer prices rose less than expected last month, reinforcing the need for more support following a raft of measures at the end of September.”Hopes are for a clear commitment to support the economic recovery and close the shortfall in domestic demand. Growth and deficit targets are likely to be discussed,” said analysts at National Australia Bank.Elsewhere in Asia, Tokyo, Taipei and Jakarta rose while Mumbai, Manila, Bangkok and Wellington fell. Singapore and Sydney were flat.Traders had been given a healthy lead from Wall Street, where the S&P 500 and Nasdaq both ended at record highs after figures showed the US economy added more jobs than forecast last month.Focus is now on the Federal Reserve’s policy meeting next week when it is tipped to cut interest rates again.Developments in Syria are also being tracked after Assad’s fall at the weekend as rebels swept into Damascus, triggering celebrations across the country and beyond.The government fell 11 days after the rebels began a surprise advance, more than 13 years after Assad’s crackdown on anti-government protests ignited Syria’s civil war.The euro remained on the back foot but slightly stronger than last week when it took a hit after France’s new government fell after a no-confidence vote, while the European Central Bank is expected to lower borrowing costs this week.President Emmanuel Macron, who had faced calls to step down, lifted sentiment when he said would serve out his term and that a budget could be passed in the coming weeks.Macron held talks with French political leaders on the left and right on Friday as he sought to quickly name a new prime minister after Michel Barnier’s ouster over his 2025 budget plan.London, Paris and Frankfurt rose at the open.- Key figures around 0810 GMT -Seoul – Kospi: DOWN 2.8 percent at 2,360.58 (close)Tokyo – Nikkei 225: UP 0.2 percent at 39,160.50 (close)Hong Kong – Hang Seng Index: UP 2.8 percent at 20,414.09 (close)Shanghai – Composite: DOWN 0.1 percent at 3,402.53 (close)London – FTSE 100: UP 0.4 percent at 8,343.64 Euro/dollar: DOWN at $1.0554 from $1.0566 on FridayPound/dollar: UP at $1.2752 from $1.2740Dollar/yen: UP at 150.33 yen from 149.97 yen Euro/pound: DOWN at 82.77 from 82.93 penceWest Texas Intermediate: UP 0.8 percent at $67.73 per barrelBrent North Sea Crude: UP 0.7 percent at $71.63 per barrelNew York – Dow: DOWN 0.3 percent at 44,642.52 points (close)

Australian police said Monday they are hunting for three suspects over an arson attack on a Melbourne synagogue, designating it a terrorist act.Mask-wearing attackers set the Adass Israel Synagogue ablaze before dawn on Friday, police said, gutting much of the building.Some congregants were inside the single-storey building at the time but no serious injuries were reported.The fire sparked international condemnation, including from Israel’s Prime Minister Benjamin Netanyahu.Police have “three suspects in that matter, who we are pursuing”, Victorian police chief commissioner Shane Patton told a news conference.Investigations over the weekend had made “significant progress”, Patton said, declining to provide further details of the operation.Officials from the federal and state police, as well as Australia’s intelligence agency, met on Monday and concluded that the fire was “likely a terrorist incident”, the police chief said.”Based on that, I am very confident that we now have had an attack, a terrorist attack on that synagogue,” he said.Counter-terrorism police have joined the probe.Under Australian law, a terrorist act is one that causes death, injury or serious property damage to advance a political, religious or ideological cause and is aimed at intimidating the public or a government.The official designation unlocks help from other federal agencies for the investigation, said Australian National University terrorism researcher Michael Zekulin.”Basically you get additional resources that you might not otherwise get,” he told AFP.- ‘Heinous act’ -There is no information to suggest further attacks are likely and Australia’s terror threat assessment will remain at its current level of “probable”, said Mike Burgess, director-general of the Australian Security and Intelligence Organisation.Australian Prime Minister Anthony Albanese, who has denounced the synagogue attack as an “outrage”, announced the creation of a federal police taskforce targeting anti-Semitism.”Anti-Semitism is a major threat and anti-Semitism has been on the rise,” Albanese told a news conference, citing the synagogue blaze and recent vandalism.The taskforce will be made up of federal police to be deployed across the country as needed, officials said.They will focus on threats, violence and hatred towards the Jewish community and parliamentarians.The war in Gaza has sparked protests from supporters of Israel and Palestinians in cities around Australia, as in much of the world.Netanyahu attacked the Australian government’s stance in the run-up to the fire.”This heinous act cannot be separated from the anti-Israel sentiment emanating from the Australian Labor government,” he said after the attack.”Anti-Israel sentiment is anti-Semitism.”Australia voted last week for a United Nations General Assembly resolution that demanded the end of Israel’s “unlawful presence in the Occupied Palestinian Territory”.New Zealand, Britain, and Canada were among 157 countries that voted for the resolution, with eight against.Australian Attorney-General Mark Dreyfus rejected Netanyahu’s accusation.”He’s absolutely wrong. I respectfully disagree with Mr Netanyahu,” Dreyfus told national broadcaster ABC on Monday.”Australia remains a close friend of Israel, as we have been since the Labor government recognised the State of Israel when it was created by the United Nations. Now that remains the position.”

Australian police said on Monday they are hunting for three suspects over an arson attack on a Melbourne synagogue, which has been designated as a terrorist act.Mask-wearing attackers set the Adass Israel Synagogue ablaze before dawn on Friday, police said, gutting much of the building.Some congregants were inside the single-storey building at the time but no serious injuries were reported.The fire sparked international condemnation, including from Israel’s Prime Minister Benjamin Netanyahu.Police have “three suspects in that matter, who we are pursuing”, Victorian police chief commissioner Shane Patton told a news conference.Investigations over the weekend had made “significant progress”, Patton said, declining to provide further details of the operation.Officials from the federal and state police, as well as Australia’s intelligence agency, met on Monday and concluded that the fire was “likely a terrorist incident”, the police chief said.”Based on that, I am very confident that we now have had an attack, a terrorist attack on that synagogue,” he said.Counter-terrorism police have joined the probe.Under Australian law, a terrorist act is one that causes death, injury or serious property damage to advance a political, religious or ideological cause and is aimed at intimidating the public or a government.The official designation unlocks help from other federal agencies for the investigation, said Australian National University terrorism researcher Michael Zekulin.”Basically you get additional resources that you might not otherwise get,” he told AFP.- ‘Heinous act’ -Prime Minister Anthony Albanese has condemned the fire as an “outrage”, describing it at the weekend as an act of terrorism and pointing to a “worrying rise in anti-Semitism” in Australia.The war in Gaza has sparked protests from supporters of Israel and Palestinians in cities around Australia, as in much of the world.Netanyahu attacked the Australian government over the fire.”This heinous act cannot be separated from the anti-Israel sentiment emanating from the Australian Labor government,” he said on Friday.”Anti-Israel sentiment is anti-Semitism.”His comments came just days after Australia voted for a United Nations General Assembly resolution that demanded the end of Israel’s “unlawful presence in the Occupied Palestinian Territory”.New Zealand, Britain, and Canada were among 157 countries that voted for the resolution, with eight against.Australian Attorney General Mark Dreyfus rejected Netanyahu’s accusation.”He’s absolutely wrong. I respectfully disagree with Mr. Netanyahu,” Dreyfus told Australia’s national broadcaster ABC on Monday.”Australia remains a close friend of Israel, as we have been since the Labor government recognised the State of Israel when it was created by the United Nations. Now that remains the position.”

South Korean stocks fell more than one percent Monday as the country was racked with political uncertainty after President Yoon Suk Yeol averted impeachment following his brief imposition of martial law last week.The retreat came on a broadly upbeat day for Asian markets despite another record on Wall Street, while traders were also awaiting a high-level economic meeting in China and keeping tabs on Syria after President Bashar al-Assad’s removal.Equities in Seoul pared their initial losses of more than two percent but investors remained on edge after a near-total boycott of Saturday’s impeachment vote by Yoon’s People Power Party (PPP) doomed it to failure.However, the main opposition party said Sunday it would try again, while police arrested the defence minister in charge of the martial law operation and the interior minister resigned.They and Yoon are being investigated for alleged insurrection.The crisis has fuelled concerns about Asia’s number four economy, which was already struggling and faces further pain as Donald Trump heads back to the White House threatening to resume his hardball trade policy.Michael Wan at MUFG said the hit to the country’s markets “may include slower tourism inflows, weaker domestic demand, and a dent to corporate sentiment, especially if street protests become more vociferous and the Budget passage remains in stalemate”.”South Korea was already one of the more vulnerable forex markets in Asia to Trump 2.0’s policies, and the political uncertainty also comes at a juncture just when leadership is needed to navigate these significant global policy shifts.”The won was trading at around 1,431 per dollar Monday, compared with 1,413 on Friday.Shanghai and Hong Kong stocks advanced as top Chinese officials prepare to hold a two-day economic work conference to outline their targets and stimulus plans for next year.The gathering comes as Beijing prepares for Trump’s second presidency amid concerns of another painful trade war between the superpowers.Data released Monday showed Chinese consumer prices rose less than expected last month, reinforcing the need for more support following a raft of measures at the end of September.Elsewhere in Asia, Tokyo, Taipei, Jakarta and Wellington also rose while Sydney and Singapore fell.Traders had been given a healthy lead from Wall Street, where the S&P 500 and Nasdaq both ended at record highs after figures showed the US economy added more jobs than forecast last month.Focus is now on the Federal Reserve’s policy meeting next week when it is tipped to cut interest rates again.Meanwhile, the euro remained on the back foot but slightly stronger than last week when it took a hit after France’s new government fell after a no-confidence vote.President Emmanuel Macron, who had faced calls to step down, lifted sentiment when he said would serve out his term and that a budget could be passed in the coming weeks.Macron held talks with French political leaders on the left and right on Friday as he sought to quickly name a new prime minister after Michel Barnier’s ouster over his 2025 budget plan.- Key figures around 0230 GMT -Tokyo – Nikkei 225: UP 0.3 percent at 39,197.57 (break)Hong Kong – Hang Seng Index: FLAT at 19,868.74Shanghai – Composite: UP 0.5 percent at 3,419.69Seoul – Kospi Index: DOWN 1.7 percent at 2,387.14Euro/dollar: DOWN at $1.0554 from $1.0566 on FridayPound/dollar: UP at $1.2741 from $1.2740Dollar/yen: DOWN at 149.95 yen from 149.97 yen Euro/pound: DOWN at 82.85 from 82.93 penceWest Texas Intermediate: UP 0.5 percent at $67.56 per barrelBrent North Sea Crude: UP 0.5 percent at $71.46 per barrelNew York – Dow: DOWN 0.3 percent at 44,642.52 points (close)London – FTSE 100: DOWN 0.5 percent at 8,308.61 (close) 

China’s retaliatory export controls could take a toll on the growing US clean energy sector and its defense industry, analysts say, as a trade tussle escalates between the world’s two biggest economies.Beijing announced this week it would ban exports of gallium, germanium and antimony to the United States, targeting materials used for everything from semiconductors to solar cells.China also tightened restrictions on graphite, which is key to the electric vehicle industry.The moves, which Beijing said were to safeguard national security, swiftly followed Washington’s own curbs to hobble China’s ability to make advanced computer chips.While trade tensions have been simmering, US President-elect Donald Trump’s arrival at the White House in January is likely to ratchet up the temperature on trade — with the Republican already vowing sweeping tariffs on Chinese imports.Analysts say it would take time to assess the impact of the new Chinese curbs on US industries, though any immediate hit should be limited.Some see Beijing’s moves as symbolic for now, even as ramifications depend on how China enforces the new rules.”This certainly could drive up costs,” said Arun Seraphin of the National Defense Industrial Association. “It could create situations where you can’t produce what you need.””It’s certainly going to drive a lot of uncertainty for companies who want to plan out their supply chain,” he told AFP.China is a major producer of the three metals in question.In August, it unveiled export controls on some antimony products and since then, shipments have plunged. Restrictions announced in 2023 on gallium and germanium also hit exports to the United States.- Defense tech -“Gallium, germanium, and antimony are vital inputs for defense technologies,” said Gracelin Baskaran and Meredith Schwartz of the Center for Strategic and International Studies (CSIS) in a recent analysis.Gallium and germanium are increasingly preferred over traditional silicon for high-performance chips used in defense applications, CSIS added.It noted these materials have properties that boost device performance, speed, and energy efficiency.Antimony is used in fireproofing and has defense-related uses, too.While China is investing in munitions and buying high-end weapons systems more rapidly than the United States, the US industrial base lacks capacity to meet defense tech production needs, the report warned.”Bans on vital mineral inputs will only further allow China to outpace the United States in building these capabilities,” it said.The US Geological Survey estimates that if China’s net exports of gallium and germanium were completely restricted simultaneously, US GDP could decrease by $3.4 billion.- Clean energy -Besides defense, gallium-based semiconductors are used in radio frequency electronics, LEDs for lighting and high-efficiency solar cells, the US Geological Survey noted.Although gasoline vehicles do not call for graphite, electric vehicles (EVs) require an average of 136 pounds (61.7 kilograms) of the material, CSIS said.This could prove dicey for the United States, which has spurred billions in private sector investments for its domestic EV supply chain through subsidies via the Inflation Reduction Act.The act is a package of energy transition policy and social reforms under President Joe Biden.Seraphin told AFP that although Washington also pushed to attract investment and build up US semiconductor manufacturing capacity through the CHIPS and Science Act, these efforts do not yet target components such as germanium.- Challenges -Beijing’s retaliation this week steps up the restrictions on gallium and germanium announced in 2023 — as China hit back at previous US semiconductor export controls.”The industry was likely somewhat surprised by the swiftness of the imposition of a broader ban, but has been conditioned over the past year to expect some restrictions,” Paul Triolo of Albright Stonebridge Group told AFP.He noted that China’s commerce ministry had already implemented a licensing regime around these key minerals, including “rolling three-month licenses to try and prevent stockpiling.”While there has been some effort to stockpile minerals like graphite and gallium, this does not appear to be coordinated between US authorities and allies to reduce reliance on China over the long haul.It will be tricky to create capacity for processing and producing products based on these minerals outside China, Triolo believes, due to costs and regulatory challenges.”Companies are reluctant to enter these markets without long-term guarantees of subsidies, given the dominance of Chinese firms,” he said.

TikTok edged closer to being banned in the United States after it lost an appeal on Friday against a law requiring the video-sharing app to divest from its Chinese parent company by January 19.The potential ban could strain US-China relations just as president-elect Donald Trump prepares to take office on January 20. TikTok said it would now appeal to the Supreme Court, which could choose to take up the case or let the circuit court’s decision stand.”The Supreme Court has an established historical record of protecting Americans’ right to free speech, and we expect they will do just that on this important constitutional issue,” the company said.TikTok will also be looking to Trump, who has emerged as an unlikely ally, arguing that a ban would mainly benefit Facebook parent company Meta’s platforms, owned by Mark Zuckerberg.Trump’s stance reflects broader conservative criticism of Meta for allegedly suppressing right-wing content, including the former president himself being banned from Facebook after the January 6, 2021, Capitol riot by his supporters.The US government alleges TikTok allows Beijing to collect data and spy on users. It also says TikTok is a conduit to spread propaganda, though China and app owner ByteDance strongly deny these claims.- ‘National security’ concerns -The law, signed by President Joe Biden in April, would block TikTok from US app stores and web hosting services unless ByteDance sells the platform by January 19.While recognizing that “170 million Americans use TikTok to create and view all sorts of free expression,” the three-judge panel unanimously upheld the law’s premise that divesting it from China’s control “is essential to protect our national security.” They found that the law did not hinder free speech as it was “devoid of an institutional aim to suppress particular messages or ideas.”The judges also disagreed with the idea that less drastic alternatives than a sale by ByteDance would solve the security issues.US Attorney General Merrick Garland welcomed the decision saying “the Justice Department is committed to defending Americans’ sensitive data from authoritarian regimes that seek to exploit companies under their control.”Trump’s support for TikTok marks a reversal from his first term, when the Republican leader tried to ban the app over similar security concerns. That effort got bogged down in the courts when a federal judge questioned how the move would affect free speech and blocked the initiative.Among those who helped Trump to the White House in this year’s election was Jeff Yass, a major Republican donor with ByteDance investments.- ‘Trump lifeline’ -“Donald Trump could be a lifeline for TikTok once he takes office, but halting the enforcement of the ban is easier said than done,” said Emarketer lead Analyst Jasmine Enberg. “And even if he does manage to save TikTok, he’s already flip-flopped on his stance toward the app and there’s no guarantee he won’t go after it later.”The president-elect launched his own TikTok account in June, gaining 14.6 million followers, but has not posted since Election Day.Despite the uncertainty, TikTok’s presence in the United States continues growing. The platform reported $100 million in Black Friday sales for its new shopping venture, and Emarketer projects US ad revenue will reach $15.5 billion next year, accounting for 4.5 percent of total digital ad spending in the country.But Enberg warned a ban would significantly disrupt the social media landscape, benefiting Meta, YouTube, and Snap while harming content creators and small businesses dependent on TikTok.Gautam Hans, professor at Cornell Law School, said the judges treated the government’s national security argument “with great deference… while undervaluing the radical effects this unfortunate decision will have for individual speakers and First Amendment doctrine.”But given the unanimous ruling and the short timeline before the law’s date of taking effect,  it was “unlikely that the Supreme Court will take the case, which will almost certainly lead to TikTok’s demise in just a handful of weeks,” he added.In contrast, Carl Tobias, of the University of Richmond, said that given the “critical implications” of the issues in question — national security and free speech — the apex court would likely take the case. 

Asian markets mostly fell Friday at the end of a volatile week, with South Korean stocks and the won still under pressure with the president’s job hanging by a thread as he faces impeachment.Traders were looking for a little stability after the past few days that saw Seoul plunged into crisis, France’s government fall and bitcoin surge to a historic high above $100,000.They are also gearing up for the release of US jobs data, while keeping tabs on Donald Trump as he puts together his cabinet, with signs so far suggesting he will take a hawkish tone on trade, fuelling worries about another standoff with China.Shares in Seoul sank more than one percent and the won weakened to about 1,423 per dollar as lawmakers prepare to hold an impeachment vote Saturday after President Yoon Suk Yeol’s dramatic, short-lived martial law on Tuesday night.While analysts said the economic fallout from the crisis would likely be limited, the political storm is ongoing.On Friday the head of Yoon’s ruling People Power Party demanded he stand down over the incident, warning he posed a great danger to the country.Han Dong-hoon’s remarks — virtually guaranteeing enough votes to impeach — come just a day after he said he would block the impeachment, and another party leader insisted all 108 PP members would back the president.”Considering the newly emerging facts, I believe that a swift suspension of President Yoon Suk Yeol’s duties is necessary to safeguard the Republic of Korea and its people,” Han said.The losses in Seoul were in line with a sell-off across most of Asia, which came after all three main indexes on Wall Street retreated from record highs Thursday.US investors were biding their time ahead of key US jobs data Friday that could play a role in the Federal Reserve’s decision-making on whether or not to cut interest rate this month.Tokyo, Sydney, Singapore, Wellington, Manila, Taipei all fell.Hong Kong and Shanghai rose, however, with investors hoping for some fresh stimulus when top Chinese leaders including President Xi Jinping meet to discuss economic policy next week.That gathering follows recent data that gave a glimmer of optimism that the painful growth slowdown that has wracked the country for almost two years could be coming to an end.- Bitcoin surge abates -Bitcoin was hovering just below $98,000 in Asian business, having blasted to the historic peak of $103,800 the day before, helped by news that Trump had picked crypto proponent Paul Atkins to take over as chair of the nation’s markets regulator.The tycoon, who often remarked on his election campaign that he would deregulate the crypto sector, welcomed the milestone.”CONGRATULATIONS BITCOINERS!!! $100,000!!! YOU’RE WELCOME!!! Together, we will Make America Great Again!” said Trump, who in September launched his own crypto platform, on Truth Social.Events in Paris are being closely watched after a historic no-confidence vote that ousted the government of French Prime Minister Michel Barnier, following a battle over a controversial budget.President Emmanuel Macron vowed to name a new prime minister in the coming days to prevent France from sliding deeper into political turmoil, rejecting growing pressure from the opposition to resign.However, there was some hope that the crisis could be settled after far-right leader Marine Le Pen — a key opponent of Barnier — said in a television interview that once a new premier was appointed, her party “would let them work” and did not call on Macron to resign.The euro edged down slightly but was much stronger than the levels around $1.0500 seen Thursday- Key figures around 0230 GMT -Tokyo – Nikkei 225: DOWN 0.9 percent at 39,042.59 (break)Hong Kong – Hang Seng Index: UP 0.2 percent at 19,602.27Shanghai – Composite: UP 0.1 percent at 3,370.68Euro/dollar: DOWN at $1.0572 from $1.0591 on ThursdayPound/dollar: DOWN at $1.2749 from $1.2760Dollar/yen: UP at 150.11 yen from 150.09 yen Euro/pound: DOWN at 82.93 from 82.97 penceWest Texas Intermediate: DOWN 0.1 percent at $68.21 per barrelBrent North Sea Crude: DOWN 0.2 percent at $71.95 per barrelNew York – Dow: DOWN 0.6 percent at 44,765.71 (close)London – FTSE 100: UP 0.2 percent at 8,349.38 (close)

Bitcoin shot past $100,000 for the first time on Thursday, taking the limelight away from stock markets that wavered as investors tracked political crises in France and South Korea.Oil prices fell modestly despite a move by the OPEC cartel and its allies to extend their supply cuts amid concerns about oversupply.Wall Street’s main stock indexes retreated from records, while Paris and Frankfurt forged higher despite political uncertainty in Paris.Bitcoin reached a high of $103,800.45 before dipping below the symbolically important level to $99.154 near 2200 GMT.The digital asset has now soared more than 50 percent since the election of Donald Trump, who has vowed to make the United States the “bitcoin and cryptocurrency capital of the world”.”Bitcoin smashed through $100,000 as the Trump Trade powered on with force,” noted Dan Coatsworth, investment analyst at AJ Bell.The historic level was broken after Trump picked crypto proponent Paul Atkins to take over as chair of the Securities and Exchange Commission, the markets regulator.Atkins is founder of risk consultancy firm Patomak Global Partners, whose clients include companies in the banking, trading and cryptocurrency industries.Atkins “is unlikely to be as anti-crypto as his predecessor Gary Gensler”, said Kathleen Brooks, research director at XTB trading platform.”Thus, politics is driving bitcoin. We doubt that the rally will stop here,” she added.- Mixed markets -Stock markets struggled for direction ahead of important US jobs figures on Friday.Aaron Clark, an equity portfolio manager at GW&K, said investors “are probably not willing to step in” ahead of Friday’s November employment data.”We’ve seen record inflows into equities,” said Clark, who thinks the market could be poised for additional gains later in December. Paris closed higher despite the historic no-confidence vote that ousted the government of French Prime Minister Michel Barnier.President Emmanuel Macron vowed to name a new prime minister in the coming days to prevent France from sliding deeper into political turmoil, rejecting growing pressure from the opposition to resign”The French political crisis failed to knock European indices off course,” said Coatsworth, an analyst at AJ Bell.Frankfurt was also in the green but London was flat.Most Asian stock markets finished higher but Seoul closed in the red.South Korean President Yoon Suk Yeol clung to power Thursday, his party announcing they will oppose an impeachment motion after his short-lived imposition of martial law stunned the world.”The silver lining we think is that the swift reversal of the martial law underscores the resilience of South Korea’s institutions,” said analysts at BMI, a unit of Fitch Solutions.”For now, we expect limited implications for the economy and financial markets as the Bank of Korea and the ministry of finance have responded swiftly by reassuring investors,” they added.- Key figures around 2200 GMT -New York – Dow: DOWN 0.6 percent at 44,765.71 (close)New York – S&P 500: DOWN 0.2 percent at 6,075.11 (close)New York – Nasdaq: DOWN 0.2 percent at 19,700.26 (close)London – FTSE 100: UP 0.2 percent at 8,349.38 (close)Paris – CAC 40: UP 0.4 percent at 7,330.54  (close)Frankfurt – DAX: UP 0.6 percent at 20,358.80 (close) Tokyo – Nikkei 225: UP 0.3 percent at 39,395.60 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 19,560.44 (close)Shanghai – Composite: UP 0.1 percent at 3,368.86 (close)Euro/dollar: UP at $1.0591 from $1.0511 on WednesdayPound/dollar: UP at $1.2760 from $1.2701Dollar/yen: DOWN at 150.09 yen from 150.59 yen Euro/pound: UP at 82.97 from 82.75 penceBrent North Sea Crude: DOWN 0.3 percent at $72.09 per barrelWest Texas Intermediate: DOWN 0.4 percent at $68.30 per barrelburs-jmb/arp