Global Markets React to HK Airport Tragedy, FAA Delays, and Amgen’s Cancer Breakthrough

Incident at Hong Kong International Airport - A cargo plane operated by Turkish carrier Air ACT skidded off the North Runway at Hong Kong International Airport, resulting in one ground staff fatality and another critically injured [2][3][8] - The North Runway is currently closed for investigation and safety inspections, while other runways remain operational [3][8] FAA Flight Delays - The Federal Aviation Administration reported widespread flight delays at major U.S. airports, including Dallas, Chicago, and Newark, due to air traffic control staffing issues exacerbated by a government shutdown [4][8] - The U.S. Travel Association estimates that the ongoing shutdown could cost the economy $1 billion per week [4] Biopharmaceutical Sector Update - Amgen announced positive topline results from its Phase 3 FORTITUDE-101 clinical trial for bemarituzumab, showing a statistically significant improvement in overall survival for patients with advanced gastric cancer [5][8] - Detailed efficacy and safety data from the trial are expected to be presented at an upcoming medical congress [5] Market Sentiment - S&P 500 E-mini futures rose 0.2% and Nasdaq futures were up 0.3% in early Asian trading, following a higher close on Wall Street [6][8] - Positive market sentiment is attributed to President Trump's actions to ease trade tensions with China and the stabilization of regional bank shares [6][8] - The market is pricing in a 100% chance of a 25 basis point rate cut at the upcoming Federal Open Market Committee meeting [6]