News

Following his meeting with Trump on Iran, the Qatari Prime Minister made an impromptu decision to attend the G7 meeting to brief European countries and Saudi Arabia.

The Hang Seng Index (HSI) closed up 108.09 points, or 0.44%, at 24,557.04 on Tuesday, November 10th. The Hang Seng Tech Index rose 43.72 points, or 1.08%, to 4,084.45 on Tuesday, November 10th. The Hang Seng China Enterprises Index (HSCEI) rose 5.66 points, or 0.07%, to 8,265.81 on Tuesday, November 10th. The Hang Seng Red Chip Index (HSC) rose 15.56 points, or 0.39%, to 4,033.47 on Tuesday, November 10th.

Russian Foreign Minister Sergey Lavrov stated that the relevant parties will discuss safeguards for collective security during the trilateral talks between Russia, the United States, and Ukraine, and that safeguard measures will take effect after a comprehensive and thorough solution is reached. He also said that Russia has "no illusions" about the Trump administration and hopes that the United States is determined to continue dialogue.

The National Highway Traffic Safety Administration (NHTSA) reports that Honda is recalling 635,808 vehicles in the United States.

The German DAX 30 index opened 273.00 points higher, or 1.04%, at 26,538.56 on Tuesday, November 10th; the Euro Stoxx 50 index opened 61.40 points higher, or 0.98%, at 6,351.85 on Tuesday, November 10th; and the Spanish IBEX 35 index opened 260.70 points higher, or 1.32%, at 20,003.20 on Tuesday, November 10th. The Italian FTSE MIB index opened 588.62 points higher, or 1.15%, at 51,988.50 points on Tuesday, November 10th;The UK FTSE 100 index opened 85.56 points higher, or 0.79%, at 10,868.43 points on Tuesday, November 10th;The FCHI index opened 90.94 points higher, or 1.10%, at 8,324.24 points on Tuesday, November 10th.

European stock indices opened higher, with Germany's DAX and Italy's FTSE MIB rising over 1%, and the Euro Stoxx 50 index gaining over 0.9%.

European Central Bank Chief Economist Lane: France's fiscal problems need to be solved in Paris.

ECB Chief Economist Lane: Hopefully the market can repric in the context of a broader macroeconomic background.

European Central Bank Chief Economist Lane: The resilience of the European economy is quite reassuring.

European Central Bank Chief Economist Lane: Inflation rate at the end of the year is likely to be "slightly higher" than 4%.

Market news: US Secretary of State Marco Rubio met with the Ukrainian Foreign Minister in Paris.

Market news: Trilateral talks between Russia, Ukraine, and the United States have begun in Abu Dhabi, UAE.

The Russian Foreign Ministry announced that a Russian delegation led by Vladimir Medinsky, including Deputy Foreign Ministers Mikhail Galuzin and Sergei Ryabkov, is en route to the negotiation venue.

Canada believes that progress is likely to be made on the US tariff issue after the midterm elections.

Iranian government spokeswoman Mohajrani responded to claims that the government believes wage increases will drive up inflation. She emphasized, "I want to make it clear that the government does not believe that raising workers' wages is a factor causing inflation. However, wage increases have their own mechanisms and effects." She stated that Iran is currently in a state of war, and employers are facing difficulties in procuring raw materials, partly due to the economic blockade imposed on Iran. Under these circumstances, the government must also address the issue of labor shortages.

According to Iran's Tasnim News Agency, in response to some media reports that "US Vice President Vance may hold talks with Ali Larijani, secretary of Iran's Supreme National Security Council," Iranian Foreign Minister Araqchi stated that such speculation and media hype are baseless, and there are no arrangements for such a meeting between the two sides.

A source within the delegation stated that Russia considers establishing a new European security framework to be a key focus of the negotiations in Ukraine.

TS Lombard's monthly global macro report points out that AI investment and corporate profits remain important pillars of US economic growth, but corporate profits may face dual pressures in 2027: on the one hand, the growth rate of AI capital expenditures by hyperscale cloud vendors is nearing its peak, and the profit support from energy prices will also weaken; on the other hand, the recovery in employment and rising wages will push up unit labor costs for enterprises, eroding the profit margin improvements previously brought about by productivity gains. The report also points out that more than 80% of the revenue of the AI ​​ecosystem is estimated to still come from capital expenditures within the industry, rather than from customers outside the industry, meaning that the returns on industry commercialization remain uncertain. TS Lombard projects that US GDP will grow by 2.5% in both 2026 and 2027, but corporate profit growth will slow down.

An LBBW analyst said in a report that as corporates and governments issue more debt, US technology companies are paying sizeable premiums on new bond issuance. Last week Alphabet and Meta sold bonds in the euro credit and dollar markets and paid high premiums. Despite very strong credit ratings, they are paying significant spreads versus German government bonds.

The U.S. delegation met with delegations from Ukraine and Europe in Abu Dhabi.