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Core Insights - Beijing's asset management scale is approximately 48 trillion yuan, accounting for nearly 30% of the national total [2] - The city aims to establish itself as a global wealth management center, leveraging its market advantages, resource endowments, and policy environment [2] - The financial industry in Beijing represents about half of the national total assets, with leading indicators in various financial metrics [2] Group 1 - The city is focusing on high-standard development of the financial industry, emphasizing reforms in key areas and innovative financial services [3] - There is a strong emphasis on promoting financial support for the real economy, directing resources towards new productive forces and urban governance [3] - Support for the Beijing Stock Exchange's reform is a priority, aiming to enhance its role in serving innovative small and medium-sized enterprises [3] Group 2 - The city plans to expand financial openness, promoting cross-border investment facilitation and hosting significant financial forums [3] - There is an intention to introduce international best practices and deepen collaboration with both domestic and foreign financial institutions [3]

🇧🇷 NEW: Brazilian stock exchange B3 to launch its own tokenization platform and stablecoin.@FranciscoMemor reports. ...

Group 1: Market Overview - The current economic landscape is characterized by a bifurcated or K-shaped economy, with unemployment rates around 4.6%, indicating a shift from a balanced labor market to potential risks in employment [2][4][5] - There is an expectation of a possible rate cut due to the labor market risks, which could positively impact market conditions in the upcoming year [5] Group 2: GE Vernova - GE Vernova has seen a significant increase of nearly 9% in the last week, driven by its role as a critical power supplier for AI data centers [6][7] - The company is benefiting from a shift towards on-site power generation due to grid delays, and its backlog is high quality and on track for growth through 2027 [8] - The stock has risen approximately 150% from its lows in April, indicating a strong bullish trend, with technical indicators suggesting continued upward movement [10][12][13] Group 3: NASDAQ - NASDAQ is expanding its trading hours to include a 23-hour weekday trading session, which is expected to increase retail participation globally [15][16] - Approximately 60% of NASDAQ's revenue is derived from assets under management (AUM) based index funds, with a trend of investors moving towards passive equity funds, which is favorable for NASDAQ's earnings [16][17] - The stock is currently consolidating and showing potential for a breakout, with key resistance levels identified [18][20][22] Group 4: Seagate Technology - Seagate has been included in the NASDAQ 100, which is a significant development for the company, as it is a core supplier of data storage hardware for data centers and AI infrastructure [23][24] - A cash-secured put strategy is being employed to potentially acquire shares at a discount, with a strike price of around $290 and a premium of approximately $20.90 per share [25][26][28] - The stock has been in a bullish trend, but there are concerns about potential overvaluation and bearish divergences in technical indicators, suggesting a possible pullback in the near term [29][34]

Core Points - The New York Stock Exchange (NYSE) has initiated delisting proceedings for the warrants of Ardagh Metal Packaging S.A. (AMBP.WS) due to "abnormally low selling price levels" [2][3] - Trading of the warrants was halted on November 25, 2025, and will be suspended immediately, while trading of the company's ordinary shares (AMBP) will continue unaffected [1][3] - The company has the right to appeal the NYSE Regulation's decision through a Committee of the Board of Directors of the Exchange [3]

Core Points - The Nasdaq experienced its largest intraday comeback since April, driven by Wall Street's buying of technology and artificial intelligence stocks [1] - The Nasdaq Composite rose by 0.1%, while the Dow Jones Industrial Average fell by 309 points, or 0.7%, and the S&P 500 was down 0.1% [2] - At one point, the Nasdaq was down 1.9% before reversing course, marking a significant recovery from its intraday low [3] Market Performance - The Nasdaq Composite's recovery highlights investor confidence in tech stocks despite recent sell-offs [1][3] - The Dow Jones Industrial Average's decline indicates broader market challenges, contrasting with the Nasdaq's performance [2] - The S&P 500's fluctuation, which saw it down 1.3% at its low before recovering, reflects volatility in the market [3] Treasury Yields - The yield on the 2-year Treasury note increased to 3.61%, while the 10-year yield rose to 4.15%, indicating rising interest rates [2]

Market Sentiment - The Philippine Stock Exchange head rebukes "doomsayers" for amplifying pessimism in the market [1] - The Philippine Stock Exchange head pushes back against claims of waning foreign investor interest [1] Market Performance - The Philippine market is currently the world's worst-performing market [1]

Core Points - NYSE has announced the commencement of delisting proceedings against Kuke Music Holding Limited due to failure to maintain an average closing price of at least $1.00 over a consecutive 30 trading-day period [2] - Trading in Kuke Music's American Depositary Shares (ADSs) will be suspended immediately [1][2] - The company has the right to appeal the delisting decision to a Committee of the Board of Directors of the NYSE [3] Company Summary - Kuke Music Holding Limited's ADSs, each representing ten Class A ordinary shares, are set to be delisted from the NYSE [1] - The delisting is based on Section 802.01C of the NYSE's Listed Company Manual, which addresses the maintenance of minimum share price [2] - The company had previously executed a reverse stock split within the last year, which contributed to the current situation [2]

Core Insights - Several markets, including Austria, the UK, Portugal, Norway, and Singapore, are currently undervalued, trading at steep discounts compared to global peers, driven by narratives that overshadow fundamental analysis [1][2][12] Austria - Austria is characterized as a small, cyclical market with a concentration in banks, energy, and industrials, often sold off during negative European headlines, leading to modest earnings multiples and strong dividend yields [3][4] - Raiffeisen Bank International exemplifies this opportunity, offering a 6% yield and trading at a discount to tangible book value, with potential for re-rating if geopolitical tensions ease [4] United Kingdom - The UK market is marked by neglect and a structural discount, trading at a significant valuation gap to the U.S. while offering higher dividend yields [5][6] - Domino's Pizza Group serves as a case study, with stable cash flow, ongoing share buybacks, and a dividend yield of around 2.5%, yet still valued lower than U.S. counterparts [6] Portugal - Portugal's market is often overlooked due to its smaller size, focusing on utilities and energy, which provide steady earnings and respectable dividends despite being labeled as low growth [7][8] - Energias de Portugal SA represents this narrative, with a 4.1% yield and growth driven by grid modernization and renewable energy expansion [8] Norway - Norway's market is heavily influenced by energy but also benefits from strong operators and a robust sovereign wealth fund, providing high free cash flow yields [9][10] - MPC Container Ships ASA fits this profile, offering a near 9% yield and generating high free cash flow through long-term contracts [10] Singapore - Singapore's market is driven by its dominant banks and a strong REIT ecosystem, providing stable income and compounding book value despite being perceived as mature [11][12] - The Singapore Exchange ADR exemplifies this, with a dividend yield of about 3.5% and a focus on expanding trading and derivatives markets [11] Common Thread - The five markets share characteristics of strong cash generation, solid balance sheets, and have been undervalued by global investors, presenting substantial future return opportunities [12][13] Global Value Perspective - The valuation gap between the U.S. and other global markets has reached historical extremes, allowing investors to acquire solid, dividend-paying businesses in Europe and Asia at half the multiples of U.S. counterparts [14][15] - As global capital costs normalize, markets that offer yield, cash flow, and tangible value are expected to lead the next investment cycle [16]

Market Share & Growth - South Korea's new stock exchange captured nearly 33% of the nation's $2400 billion market within months of launch [1] - Round-the-clock access is driving explosive growth in the market [1]