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Asian markets broadly higher with tech stocks leading gains, tracking overnight Wall Street strength. Nikkei rose 0.5%, KOSPI added 0.2%, while ASX 200 surged 1.1%. China's CSI 300 traded flat ahead of LPR decision.
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US futures steady in Asian trading as markets await NVIDIA earnings. S&P 500 futures up 0.15%, while European futures indicate higher open with STOXX 50 futures rising 0.55%.
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Dollar retreats from one-year highs as markets digest Trump policy expectations. Treasury yields ease with 10-year at 4.408%. Markets price 58.4% chance of December Fed rate cut.
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RBA minutes show board remains cautious on inflation, emphasizing need for restrictive policy. Cash rate expected unchanged until mid-2025. Australian Dollar holds steady at $0.6504.
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Japanese yen finds support at 154.47 per dollar after Finance Minister warns on excessive moves. BOJ Governor Ueda maintains dovish stance despite weak economic data.
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Bitcoin trades at $91,713 after MicroStrategy announces record $4.6B purchase of 51,780 coins at average $88,627. Trump victory optimism cools as markets await policy details.
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Oil edges higher with Brent at $73.45 and WTI at $69.31 after Norway's Johan Sverdrup field halts production. Kazakhstan's Tengiz field also reports 30% output reduction.
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Gold extends recovery to $2,622 on dollar weakness and rising Russia-Ukraine tensions after US authorizes long-range missile strikes into Russian territory.
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Trump's Treasury secretary search widens with Apollo CEO Marc Rowan and ex-Fed Governor Kevin Warsh emerging as new candidates after John Paulson exits race.
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Goldman Sachs joins Morgan Stanley in forecasting S&P 500 at 6,500 by end-2025, sees 11% earnings growth and 2.5% GDP expansion. Warns of tariff and yield risks.
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Beijing and Shanghai announce property tax breaks to boost housing market, including VAT exemptions for resales held over 2 years. Other major cities expected to follow.
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IMF warns of Asian growth risks from "tit-for-tat" tariffs, particularly concerning Trump's proposed 60% levy on Chinese imports. Maintains Asia growth forecast at 4.6% for 2024.
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Boeing to lay off 2,500 workers across US manufacturing hubs, part of broader 17,000 job cuts. Notices sent to workers in Washington, South Carolina, Oregon, and Missouri.
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Key events ahead: Eurozone final October CPI, US housing data, Fed's Schmid speech, BOE Governor Bailey parliamentary testimony, ECB's Elderson on green finance.
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