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US tech giant Nvidia said on Friday it will supply 260,000 of its most cutting-edge chips to South Korea, as CEO Jensen Huang met President Lee Jae Myung and the heads of the country’s biggest companies on the sidelines of the APEC summit. South Korea is home to two of the world’s leading memory chip makers — Samsung Electronics and SK hynix — which manufacture chips essential for artificial intelligence products and the data centres that the fast-evolving industry relies on.President Lee has also expressed his hope that the country can become the world’s third AI power after the United States and China.Speaking to media after the announcement, Huang said that goal was “ambitious”.But, he said, “there’s no reason why Korea cannot achieve it — you have the technology, you have the software expertise and you also have a natural ability to build manufacturing plants”.Nvidia has been caught in the middle of that geopolitical tussle.Its chips are currently not sold in China due to a combination of Beijing government bans, US national security concerns and ongoing trade tensions.Huang has urged the United States to allow the sale of US-made AI chips in China in order to ensure Silicon Valley companies remain a global powerhouse in providing artificial intelligence.”The US government and the Chinese government have to decide what role they would like Nvidia to play,” Huang told reporters on Friday. “I’ve been very clear that having Nvidia technology in China is in the best interest of the United States and in the best interest of China as well,” he said.”I’m optimistic,” he added.And asked if he wanted Nvidia’s most high-tech chip, the Blackwell, to be sold in China, he said: “I hope so”.”But that’s a decision for President Trump to make.”Nvidia’s chips featured in talks between US President Donald Trump and Chinese leader Xi Jinping in Gyeongju this week.Beijing has ramped up its chip industry to beat Washington’s export restrictions on the critical component used to power AI systems.- Chicken and chips -Under Friday’s deal, 50,000 of the graphics processing units will go towards a new “AI factory” being built by Samsung Electronics. “By deploying more than 50,000 Nvidia GPUs, AI will be embedded throughout Samsung’s entire manufacturing flow,” the Korean tech giant said.SK Group and Hyundai Motor Group will also receive 50,000 chips for use in AI facilities.NAVER Cloud — which operates South Korea’s largest search engine — will receive 60,000 to expand its AI infrastructure. A further 50,000 will be deployed across Seoul’s National AI Computing Center and to cloud service and IT providers.Huang has sought to forge closer ties with South Korean tech giants in his visit to the country this week.He met Samsung Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Eui-sun on Thursday for “chimaek” — a beloved South Korean pairing of fried chicken and beer — in the capital Seoul.The restaurant, Kkanbu, was reportedly chosen by Nvidia because the term — popularised by Netflix’s megahit “Squid Game” and meaning “friend” — was intended to highlight the spirit of friendship underpinning their AI and chip collaborations.Nvidia in July became the first company to top $4 trillion in market capitalisation, and followed that up by becoming the first to hit $5 trillion following an event on Tuesday where it announced new ventures building on its AI technology.

Asian stock markets presented a mixed bag on Friday, with falls in China and gains in Japan and South Korea coming after better-than-expected earnings reports from US tech behemoths Apple and Amazon.Investor confidence in artificial intelligence has fuelled a rally in global stock markets this week that made California-based chip designer Nvidia the first $5 trillion firm.Rosy sentiment was further boosted by a detente in the US-China trade war, with leaders agreeing on Thursday to walk back punitive measures that had disrupted international supply chains and manufacturing sectors.But that boom showed signs of flagging on Thursday as investors processed comments by US Federal Reserve Chair Jerome Powell the previous day that cast doubt on another interest rate cut in December.The three major Wall Street indices retreated on Thursday, with the Nasdaq dropping the most at 1.6 percent.An earnings report released by Apple after US markets closed showed quarterly revenue that beat estimates, powered by iPhone and services revenue.Amazon also reported earnings that were better than expected, driven by surging demand for its cloud computing services.Tokyo’s main benchmark gained more than two percent on Friday while Seoul added half a percent, with both reaching record closes.Japan’s climb came despite a sharp plunge in Nissan shares after the automotive giant said it expected to suffer an operating loss in its current fiscal year ending in March.Trading in Seoul ended just after an announcement by Nvidia that it will supply 260,000 of its most cutting-edge chips to South Korea.The statement came as CEO Jensen Huang met South Korean President Lee Jae Myung on the sidelines of the APEC summit. Also in attendance on Friday were leaders including Chinese President Xi Jinping and Prime Minister Mark Carney of Canada.Taipei finished slightly down and Sydney closed flat.In Hong Kong, shares of Chinese electric vehicle powerhouse BYD tumbled after results announced on Thursday evening showed a 33 percent year-on-year slump in third-quarter profit.Hong Kong’s main benchmark closed the day down 1.4 percent, while Shanghai finished 0.8 percent lower.”While (BYD’s) near-term domestic growth may face headwinds from ongoing price discipline and evolving government policies, the international segment offers a robust counterbalance,” HSBC analyst Yuqian Ding said in a report.Challenges in the Chinese economy were further highlighted by official data on Friday that showed factory activity shrinking in October for the seventh successive month.Xi and US President Donald Trump struck several key deals during Thursday’s meeting that had been anticipated by observers.Washington agreed to cut some tariffs on Chinese goods, while Beijing committed to keeping supplies of critical rare earths flowing.Trump and Xi have not yet signed a comprehensive trade agreement, and experts say the meeting amounted to a tentative one-year truce in the trade war between the world’s top two economies.Europe opened lower Friday, with main benchmarks in London, Paris and Frankfurt slightly down in morning trading.- Key figures at around 0830 GMT -Tokyo – Nikkei 225: UP 2.1 percent at 52,411.34 (close)Hong Kong – Hang Seng Index: DOWN 1.4 percent at 25,906.65 (close)Shanghai – Composite: DOWN 0.8 percent at 3,954.79 (close)London – FTSE 100: DOWN 0.2 percent at 9,738.34West Texas Intermediate: DOWN 0.2 percent at $60.46 per barrelBrent North Sea Crude: DOWN 0.1 percent at $64.97 per barrelEuro/dollar: UP at $1.1566 from $1.1564 on ThursdayPound/dollar: FLAT at $1.3142 from $1.3142Dollar/yen: UP at 154.33 yen from 154.06 yenEuro/pound: UP at 88.01 from 87.98 penceNew York – Dow: DOWN 0.2 percent at 47,522.12 (close)

Asian stock markets mostly rose Friday morning, with a surge in Japanese shares coming after better-than-expected earnings reports from US tech behemoths Apple and Amazon.Investor confidence in artificial intelligence has fuelled a rally in global stock markets this week that saw California-based chip designer Nvidia become the first-ever $5 trillion firm.Rosy sentiment was further boosted by a detente in the US-China trade war, with top leaders agreeing Thursday to walk back punitive measures that had disrupted international supply chains and manufacturing sectors.But that boom showed signs of flagging Thursday, as investors processed comments the previous day by US Federal Reserve Chair Jerome Powell that cast doubt on another interest rate cut in December.The three major Wall Street indices retreated, with the Nasdaq dropping the most at 1.6 percent.After US markets closed, an earnings report released by Apple showed quarterly revenue that beat estimates, powered by iPhone and services revenue.Amazon also reported earnings that were better than expected, driven by surging demand for its cloud computing services.In Friday morning Asian trading, Tokyo’s main benchmark surged by more than one percent, while Seoul, Sydney and Taipei were also up.Japan’s climb came despite a sharp plunge of nearly eight percent in Nissan shares, after the automotive giant said it expected to suffer an operating loss in its current fiscal year ending in March.In Hong Kong, shares of Chinese electric vehicle powerhouse BYD fell by more than five percent after results announced Thursday evening showed a 33-percent year-on-year slump in third-quarter profit.Stock exchange benchmarks in Hong Kong and Shanghai were both slightly down Friday morning.”While (BYD’s) near-term domestic growth may face headwinds from ongoing price discipline and evolving government policies, the international segment offers a robust counterbalance,” said HSBC analyst Yuqian Ding in a report.Challenges in the Chinese economy were further highlighted by official data Friday that showed factory activity shrinking in October for the seventh month in a row.Thursday’s meeting between US President Donald Trump and Chinese counterpart Xi Jinping saw the leaders strike several key deals that had been anticipated by observers.Among them, Washington agreed to cut some tariffs on Chinese goods, and Beijing committed to keep supplies of critical rare earths flowing.Trump and Xi have not yet signed a comprehensive trade agreement, and experts say the meeting amounts to a tentative one-year truce in the trade war between the world’s top two economies.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: UP 1.2 percent at 51,959.37Hong Kong – Hang Seng Index: DOWN 0.1 percent at 26,254.83Shanghai – Composite: DOWN 0.2 percent at 3,978.84West Texas Intermediate: DOWN 0.5 percent at $60.27 per barrelBrent North Sea Crude: DOWN 0.4 percent at $64.72 per barrelEuro/dollar: UP at $1.1574 from $1.1564 on ThursdayPound/dollar: UP at $1.3156 from $1.3142Dollar/yen: DOWN at 153.76 yen from 154.06 yenEuro/pound: DOWN at 87.97 from 87.98 penceNew York – Dow: DOWN 0.2 percent at 47,522.12 (close)London – FTSE 100: FLAT at 9,760.06 (close)

Stock markets wobbled Thursday as traders digested a high-stakes meeting between the US and Chinese presidents, mixed company earnings and uncertainty over further US interest rate cuts.US President Donald Trump described his meeting in South Korea with Chinese counterpart Xi Jinping — their first since 2019 — as “amazing.”The two leaders agreed to calm the US-China trade war that has shaken global markets, with Washington cutting some tariffs and Beijing committing to keep supplies of critical rare earths flowing.But the two sides have yet to produce a signed agreement, which means “continued uncertainty about how that relationship will play out, because both sides, the US and China, have shown that they’re kind of willing to ruffle some feathers when they think it’s necessary,” said Briefing.com analyst Patrick O’Hare.Anticipation of the meeting had helped lift stocks to new records. But momentum has faded.Wall Street indices retreated, with the Nasdaq dropping the most of the three major indices at 1.6 percent. “The market was vulnerable to this,” said CFRA’s Sam Stovall, alluding to lofty equity valuations that positioned equities to drop at the “one two punch” of Wednesday’s Federal Reserve decision and disappointing tech earnings.Asia markets ended mostly lower, while in Europe both Frankfurt and London ended the day flat after wobbling in afternoon trading. Shares in Meta dove around 11.3 percent after it reported an 83 percent drop in profits to $2.7 billion following a roughly $16-billion hit from a one-time accounting shift due to a US fiscal overhaul legislation favored by Trump.Microsoft shares shed 2.9 percent and shares in Google-parent Alphabet rose 2.5 percent.Analysts described the market reaction as stemming from the investor understanding that the AI boom may not be without bumps.”The business models of the big technology firms are becoming more capital intensive, as they build out their AI capabilities,” said AJ Bell investment director Russ Mould. If AI fails to deliver revenue streams, “the effect on share prices could be brutal,” he added.However Forex.com analyst Fawad Razaqzada said that “unless there’s a significant negative surprise from the remaining tech giants yet to report, equities could well have further room to climb.”Amazon and Apple report after US markets close on Thursday.Seoul’s stock market got a lift from tech giant Samsung Electronics posting a 32-percent rise in on-year profits for the third quarter, driven by AI-fueled market demand for memory chips.The European Central Bank held interest rates steady, as expected, as inflation hovers around its target and the eurozone economy holds up. Data on Thursday showed the eurozone economy grew faster than expected in the third quarter of 2025. The Bank of Japan also held interest rates steady on Thursday, sending the yen higher, after the US Federal Reserve delivered a second quarter-point rate cut. Fed chair Powell’s announcement, however, cast doubt on an additional cut in December, jolting US markets and lifting the value of the dollar on Wednesday.- Key figures at around 2015 GMT -New York – Dow: DOWN 0.2 percent at 47,522.12 (close)New York – S&P 500: DOWN 1.0 percent at 6,822.34 (close)New York – Nasdaq Composite: DOWN 1.6 percent at 23,581.14 (close)London – FTSE 100: FLAT at 9,760.06 (close)Paris – CAC 40: DOWN 0.5 percent at 8,157.29 (close)Frankfurt – DAX: FLAT at 24,118.89 (close)Tokyo – Nikkei 225: FLAT at 51,325.61 (close)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 26,282.69 (close)Shanghai – Composite: DOWN 0.7 percent at 3,986.90 (close)Euro/dollar: DOWN at $1.1564 from $1.1601 on WednesdayPound/dollar: DOWN at $1.3142 from $1.3194Dollar/yen: UP at 154.06 yen from 152.73 yenEuro/pound: UP at 87.98 from 87.92 penceBrent North Sea Crude: UP 0.1 percent at $65.00 per barrelWest Texas Intermediate: UP 0.2 percent at $60.57 per barrelburs-jmb/des

Stock markets wobbled Thursday as traders digested a high-stakes meeting between the US and Chinese presidents, mixed company earnings and uncertainty over further US interest rate cuts.US President Donald Trump described his meeting in South Korea with Chinese counterpart Xi Jinping — their first since 2019, during Trump’s first term — as “amazing”.The two leaders agreed to calm the US-China trade war that has shaken global markets, with Washington cutting some tariffs and Beijing committing to keep supplies of critical rare earths flowing.But the frenzy on stock markets that led to new records in the run-up to the meeting and earnings reports by tech giants faded.Asia markets ended mostly lower, while in Europe both Frankfurt and London ended the day flat after wobbling in afternoon trading. On Wall Street, the Dow rose but the S&P 500 and Nasdaq Composite were both lower in early afternoon trading. “Doubts over the possible returns on investments planned for artificial general intelligence, the Fed’s ‘hawkish’ rate cut and President Trump’s underwhelming trade deal with China have done little to boost sentiment,” said David Morrison, senior market analyst at financial services provider Trade Nation.Big US tech companies were in focus again Thursday, with investors reacting to earnings reports from Alphabet, Meta and Microsoft released after Wall Street closed on Wednesday.Shares in Meta dove around 10 percent after third-quarter profits missed analysts’ expectations.Profits sank 83 percent to $2.7 billion following a roughly $16-billion hit from a one-time accounting shift due to a US fiscal overhaul legislation favoured by President Donald Trump. Microsoft shares shed 2.7 percent and shares in Google-parent Alphabet rose 4.6 percent.Microsoft reported stronger-than-expected quarterly results but questions arose about the pace of AI monetisation.”These latest results highlight the business models of the big technology firms are becoming more capital intensive, as they build out their AI capabilities,” said AJ Bell investment director Russ Mould. He added, however, that if AI fails to deliver revenue streams, “the effect on share prices could be brutal.”However Forex.com analyst Fawad Razaqzada said that “unless there’s a significant negative surprise from the remaining tech giants yet to report, equities could well have further room to climb.”Amazon and Apple report after US markets close on Thursday.Shares in Nvidia gave up 1.6 percent a day after it became the first company to reach a $5 trillion market value. The company reports results of its third quarter, which ended this week, on November 19.Seoul’s stock market got a lift from tech giant Samsung Electronics posting a 32-percent rise in on-year profits for the third quarter, driven by AI-fuelled market demand for memory chips.The European Central Bank held interest rates steady, as expected, as inflation hovers around its target and the eurozone economy holds up. Data on Thursday showed the eurozone economy grew faster than expected in the third quarter of 2025. The Bank of Japan also held interest rates steady on Thursday, sending the yen higher, after the US Federal Reserve delivered a second quarter-point rate cut. Fed chair Jerome Powell’s announcement, however, cast doubt on an additional cut in December, jolting US markets and lifting the value of the dollar on Wednesday.Shares in auto giant Stellantis, whose brands include Jeep, Fiat and Peugeot, sank over eight percent despite rising sales as the group said it expected to incur charges in the second half of the year.- Key figures at around 1630 GMT -New York – Dow: UP 0.5 percent at 47,856.70 pointsNew York – S&P 500: DOWN 0.3 percent at 6,868.95New York – Nasdaq Composite: DOWN 0.8 percent at 23,758.70London – FTSE 100: FLAT at 9,760.06 (close)Paris – CAC 40: DOWN 0.5 percent at 8,157.29 (close)Frankfurt – DAX: FLAT at 24,118.89 (close)Tokyo – Nikkei 225: FLAT at 51,325.61 (close)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 26,282.69 (close)Shanghai – Composite: DOWN 0.7 percent at 3,986.90 (close)Euro/dollar: DOWN at $1.1566 from $1.1595 on WednesdayPound/dollar: DOWN at $1.3146 from $1.3187Dollar/yen: UP at 154.11 yen from 152.82 yenEuro/pound: UP at 87.99 from 87.94 penceBrent North Sea Crude: DOWN less than 0.1 percent at $64.29 per barrelWest Texas Intermediate: UP less than 0.1 percent at $60.53 per barrelburs-rl/rlp

From a crippling trade conflict to the Ukraine war, here’s what Beijing and Washington say was achieved during Donald Trump and Xi Jinping’s first face-to-face talks in six years:- Fentanyl, tariffs -The fentanyl trade has long been a sore point: Washington accuses Beijing of turning a blind eye to exports of chemicals used to make the drug, a charge China denies.Trump hit China with a 20-percent levy early this year over fentanyl, but said it would be reduced to 10 percent after Xi agreed at their Busan summit to “work very hard to stop the flow” of the powerful opioid, which has killed thousands of Americans.The reduction would bring average US tariffs on China to 47 percent.Washington would also suspend for a year steeper “reciprocal” tariffs that targeted China, Beijing’s commerce ministry said, ahead of a trade truce set to expire next month. China will make corresponding adjustments.- Hill of beans -Beijing has retaliated against the US tariffs with levies on American agricultural products, including soybeans, hurting a key source of Trump’s political support: farmers.More than half of US soybean exports went to China last year, but Beijing halted all orders as the trade dispute deepened.Trump said China had now agreed to purchase “tremendous” amounts of soybeans and other farm products.US Treasury Secretary Scott Bessent told Fox Business that China agreed to buy 12 million metric tons of the crop “during this season”.- Rare earths, ships -A strategic field dominated by China that is essential for manufacturing in defence, automobiles and consumer electronics, rare earths were expected to occupy a central role in the Busan talks.Beijing imposed sweeping export controls on the materials and related technology this month. Trump swiftly announced retaliatory tariffs of 100 percent on all Chinese goods, which he threatened would start this weekend.But the US leader insisted Thursday that “that whole situation, that roadblock is gone now”.China’s commerce ministry confirmed the rare earths restrictions had been suspended “for one year”.Washington in turn agreed to suspend for one year a move imposing “Entity List” export restrictions on affiliates of blacklisted foreign companies in which they had at least a 50 percent stake, a Chinese spokesperson said.The United States also agreed to halt for a year measures targeting China’s shipbuilding industry that led to both sides applying port fees against each other’s ships, they said.China would suspend its “countermeasures” after the US action, they added, for one year too.- Ukraine – Trump said the United States and China agreed to cooperate more on seeking an end to war in Ukraine.China says it is a neutral party, but Kyiv and Western governments have long accused Beijing of providing political and economic support to Moscow.Trump told reporters the subject came up “very strongly” during his talks with Xi.”He’s going to help us, and we’re going to work together on Ukraine,” Trump said.- Chips -Beijing has ramped up its chip industry to beat Washington’s export restrictions on the critical component used to power artificial intelligence systems.US chip giant Nvidia has been caught in the geopolitical tussle. Nvidia’s chips are currently not sold in China due to a combination of Beijing government bans, US national security concerns and ongoing trade tensions.Nvidia chief executive Jensen Huang has urged the United States to allow the sale of US-made AI chips in China to ensure Silicon Valley companies remain a global powerhouse in AI development.”We did discuss chips,” Trump said, adding that Huang would speak to Beijing about the dispute. “We’re sort of the arbitrator or the referee.”- TikTok -The talks failed to result in a final deal for TikTok’s US operations to be transferred to American ownership, despite Bessent saying beforehand that Xi and Trump may “consummate” an agreement in Busan.Washington has sought to wrest the popular social media app’s US operations from the hands of Chinese parent company ByteDance, citing national security concerns.aue-oho-mya-bys/des

Chinese electric vehicle giant BYD said on Thursday its third-quarter profit had slumped by 33 percent year-on-year, with sluggish domestic consumption piling pressure on the carmaker as it looks to expand overseas.BYD — which adopts the English slogan “Build Your Dreams” — has emerged in recent years as the clear leader in China’s highly competitive EV market, which is the largest in the world.The carmaker said its net profit for the third quarter was 7.8 billion yuan ($1.1 billion), a decrease of 32.6 percent compared to the same period last year and its second consecutive quarterly decline. The Shenzhen-based firm recorded revenue of 195 billion yuan over the same period, a slight decrease of 3 percent year-on-year.China’s EV industry is world-leading but a cutthroat domestic market has weighed on companies’ profitability, with many including BYD turning to overseas markets in response. Scrutiny of the EV market is also growing, with a top industry group in May rebuking Chinese automakers for fuelling a price war, a week after BYD announced sweeping trade-in discounts. However, BYD’s overseas bid appears to be gathering pace. In September, it sold more than 13,000 units in European Union countries, a year-on-year increase of 272.1 percent, according to a report by the European Automobile Manufacturers’ Association (ACEA).The recent slowdown comes after a period of sustained, intense growth, and its profit in the first quarter was a record for the company in that reporting period. In 2024, its annual revenue surpassed that of its American rival Tesla, and crossed the symbolic $100 billion mark.

One of the last independent media outlets in Macau will close operations in December, the platform said on Thursday, citing “increasing pressure and risks”.The All About Macau Media (AAMacau) news platform, co-founded by late journalist Ng Sio Ngai more than a decade ago, has often been critical of social issues in the Chinese city.AAMacau, whose Chinese-language name means “discuss as much as possible”, runs digital and print platforms and also has a social media presence.The outlet said this month’s print edition would be its last, with the rest of its operation to end in December.It said it had been told by Macau officials that it “no longer meets the statutory requirements to engage in relevant activities” under the Chinese special administrative region’s media law and that its monthly publication registration number has been revoked.”Facing resource constraints, mounting external pressures, and the need for our reporters to navigate judicial proceedings, the team found it increasingly difficult to maintain reporting standards,” AAMacau said.It said it “had no choice but to make this difficult decision”.In April, two AAMacau reporters were detained by police while covering an event in the city’s legislature, which it said was the first case of its kind in Macau.It said on Thursday that three of its journalists could face criminal charges over the incident.The city’s Government Information Bureau has not yet responded to an AFP request for comment.- ‘Swift deterioration’ -Macau, which has its own legal system largely based on Portuguese law, enacted national security legislation in 2009 and widened its powers in 2023.The Committee to Protect Journalists said the closure of AAMacau is “a blow to press freedom and a highly troubling development”.It “marks a swift deterioration” in Macau’s media environment, the advocacy group told AFP.Began as a weekly feature in a local newspaper in 2010, AAMacau established its website about two years later, followed by the first monthly magazine printed in May 2013.In recent years, the outlet has transitioned into a subscription and donation-based funding model.AAMacau said its decision came about a year after it started facing restrictions in accessing government events.Political scientist and veteran journalist Eric Sautede called the outlet’s closure an “absolute loss”.He said AAMacau had “helped foster a measure of accountability among those in power — both in government and in the private sector”.

Stock markets mostly retreated Thursday as traders digested a high-stakes meeting between the US and Chinese presidents, mixed company earnings and uncertainty over further US interest rate cuts.US President Donald Trump described his meeting in South Korea with Chinese counterpart Xi Jinping — their first since 2019, during Trump’s first term — as “amazing”.The two leaders agreed to calm the US-China trade war that has roiled global markets, with Washington cutting some tariffs and Beijing committing to keep supplies of critical rare earths flowing.But stock markets turned mostly lower after having hit new records in the run-up to the meeting and earnings reports by tech giants. “Doubts over the possible returns on investments planned for artificial general intelligence, the Fed’s ‘hawkish’ rate cut and President Trump’s underwhelming trade deal with China have done little to boost sentiment,” said David Morrison, senior market analyst at financial services provider Trade Nation.US big tech companies were in focus again Thursday, following a mixed reaction to earnings reports from Alphabet, Meta and Microsoft after Wall Street closed on Wednesday.Shares in Meta dove around 12 percent as trading got underway, while Microsoft shed 2.2 percent.Shares in Google-parent Alphabet rose 2.6 percent.”These latest results highlight the business models of the big technology firms are becoming more capital intensive, as they build out their AI capabilities,” said AJ Bell investment director Russ Mould. He added, however, that if AI fails to deliver revenue streams, “the effect on share prices could be brutal.”Shares in Nvidia gave up 2.3 percent a day after becoming the first company to reach a $5 trillion market value.Seoul’s stock market got a lift from tech giant Samsung Electronics posting a 32 percent rise in on-year profits for the third quarter, driven by AI-fuelled market demand for memory chips.The European Central Bank held interest rates steady, as expected, as inflation hovers around its target and the eurozone economy holds up. Data on Thursday showed the eurozone economy grew faster than expected in the third quarter of 2025. The Bank of Japan also held interest rates steady on Thursday, after the US Federal Reserve delivered a second quarter-point rate cut. Fed chair Jerome Powell’s announcement, however, cast doubt on an additional cut in December, jolting US markets and lifting the value of the dollar on Wednesday.Advertising giant WPP led losses in London, dropping more than 17 percent after it cut its annual outlook.Shares in auto giant Stellantis, whose brands include Jeep, Fiat and Peugeot, sank over 10 percent despite rising sales as the group said it expects to incur charges in the second half of the year.Volkswagen shares fell nearly two percent after its first quarterly loss for five years, topping one billion euros.Danish weight-loss drugmaker Novo Nordisk, owner of treatments Wegovy and Ozempic, saw its shares fall more than four percent after it launched a bidding war with US rival Pfizer for obesity treatment maker Metsera.- Key figures at around 1330 GMT -New York – Dow: DOWN 0.4 percent at 47,450.07New York – S&P 500: DOWN 0.6 percent at 6,850.87New York – Nasdaq Composite: DOWN 0.8 percent at 23,764.12London – FTSE 100: DOWN 0.6 percent at 9,701.29 pointsParis – CAC 40: DOWN 0.8 percent at 8,135.14Frankfurt – DAX: DOWN 0.2 at 24,083.79Tokyo – Nikkei 225: FLAT at 51,325.61 (close)Hong Kong – Hang Seng Index: DOWN 0.2 percent at 26,282.69 (close)Shanghai – Composite: DOWN 0.7 percent at 3,986.90 (close)Euro/dollar: DOWN at $1.1571 from $1.1595 on WednesdayPound/dollar: DOWN at $1.3139 from $1.3187Dollar/yen: UP at 154.33 yen from 152.82 yenEuro/pound: UP at 88.07 from 87.94 penceBrent North Sea Crude: DOWN 1.1 percent at $63.64 per barrelWest Texas Intermediate: DOWN 1.1 percent at $59.81 per barrel

Struggling Japanese carmaker Nissan said it expected to suffer an operating loss of 275 billion ($1.8 billion) in its fiscal year that ends in March as it faces further economic headwinds.It also said it expected an operating loss of 30 billion yen for the first six months of the fiscal year, which runs through September.Nissan reported a net loss of 671 billion yen for the financial year to March 2025, and launched an effort cut 20,000 jobs, some 15 percent of its workforce.The first-half operating loss of 30 billion yen is better than the automaker had been forecasting. Nissan attributed it to one-time benefits including lower costs to emission regulations. It said it had also deferred some project costs to the second half of the year.”While our first-half results reflect temporary benefits and payback from cost-saving initiatives, we anticipate ongoing challenging competitive environment in the second half, supply chain risks and the seasonality of business,” said Chief Financial Officer Jeremie Papin.The expected worsening of its performance in the second half of its fiscal year reflected “anticipated challenges in the second half due to supply chain risks, foreign exchange volatility, tariffs, and other external factors,” the automaker said in a statement.It said it now expected sales of 11.7 trillion yen in 2025-2026, down from its initial estimate in May of 12.5 trillion yen.Nissan has faced numerous speed bumps in recent years — including the 2018 arrest of former boss Carlos Ghosn, who later fled Japan concealed in an audio equipment box.A merger with Japanese rival Honda had been seen as a potential lifeline but talks collapsed in February when the latter proposed making Nissan a subsidiary.Of Japan’s major automakers, Nissan was seen by analysts as likely to be the most severely hit by US President Donald Trump’s tariffs on imported vehicles.