Morning wrap (17.11.2025)

Asia–Pacific indices are seeing a mixed session. Chinese indices are losing between 0.50–0.70%, Australia’s AU200.cash is gaining 0.45%, and Japan’s JP225 is down 0.50%.

In the FX market, volatility is limited. Moves in most currency pairs are confined to a +/-0.15% range. The U.S. dollar is rebounding, gaining 0.15%.

Atlanta Fed President Raphael Bostic spoke cautiously about another rate cut in December, indicating that the data does not yet justify it. Currently, the market is pricing in only a 43.9% chance of a 25 bps cut at the December meeting.

Olli Rehn of the ECB warned that inflation may fall below the 2% target due to cheaper energy, a stronger euro and slower wage growth; a December cut is not ruled out, but risks are two-sided.

Tokyo is preparing a package worth more than 17 trillion JPY to ease living costs and support investment in AI and semiconductors; government approval is expected this Friday.

The preliminary GDP reading fell 1.8% annualized (better than the expected −2.4%) due to weaker exports and consumption, partly linked to tariffs and new housing regulations. A positive detail was a 1.0% increase in capital expenditure.

Four armed Chinese Coast Guard vessels briefly entered waters administered by Japan near disputed islands. China issued travel and study warnings regarding Japan; Tokyo is sending a high-ranking diplomat to Beijing to stabilize relations.

Berkshire Hathaway disclosed a new investment worth roughly USD 4.3 billion in Alphabet, making it the company’s tenth-largest portfolio holding.

Samsung is raising memory prices by 30–60% — contract prices for server DRAM (especially DDR5) have surged due to shortages driven by the AI boom.

U.S. Secretary of State Marco Rubio said the State Department intends to designate the Suns Cartel (allegedly led by Maduro) as a terrorist organization. Trump stated that the U.S. may hold talks with Maduro, even as the U.S. military presence near Venezuela grows.