Nov. 14 at 11:11 AM
#SPMNOTES
... from the global perspective:
$VUG $482.50 -0.38
$ACWI $140.15 -2.18
$SPGM $75.99 -0.05
^^^^ Asian equities declined on Friday as investors grew cautious over stretched tech valuations and uncertainty surrounding the U.S. economic outlook. China's Shanghai Composite slid 0.97% and Hong Kong's Hang Seng dropped 1.85% after a mixed batch of Chinese data showed softening industrial production, weaker fixed-asset investment, and modest retail sales growth. Japan's Nikkei 225 fell 1.77% as prominent tech names like Advantest, Tokyo Electron, and SoftBank saw sharp profit-taking, though TOPPAN Holdings and Tokyo Tatemono posted double-digit gains. Broader sentiment was also pressured by geopolitical tensions, including renewed Russian-Ukrainian attacks, which lifted oil prices by more than 1%.
^^^ European equities are trading lower as concerns over an AI-driven market bubble and uncertainty around the U.S. rate path pressured sentiment, despite the resolution of the U.S. government shutdown, leaving significant policy gaps unresolved. Weak October data from China added to the risk-off tone, with investors reacting to signs of deteriorating consumer demand and continued property-sector stress. Sector standouts included Siemens Energy (+9%) after sharply raising mid-term financial targets and Richemont (+7.6%) on strong first-half results, while Allianz gained 1% on better-than-expected profit. On the downside, Land Securities (-3.3%) and Swiss Re (-2.7%) declined despite reporting solid earnings, reflecting broader caution across real estate and insurance
