News

The Russian military says it attacked a ship carrying military equipment in the Black Sea.

NI225 fell by 2% during the day.

Australia's S&P/ASX 200 index closed up 224.00 points, or 2.54%, at 9058.50 on Thursday, November 5.

India's Power Secretary: Energy storage authorizations will be issued to power companies in each state.

India's NIFTY Auto Index extended its gains to 3.2%.

In his latest research report, Steven Blitz, chief US economist at macro research firm TS Lombard, pointed out that the overall valuation of US stocks is now roughly in line with the yield on US Treasury bonds and the level of nominal economic growth. Future market performance will depend more on policy and economic fundamentals. The report data shows that the S&P 500's forward 12-month price-to-earnings ratio is 20.9, corresponding to an earnings yield of 4.78%; the yield on 10-year zero-coupon US Treasury bonds is 4.91% during the same period, a difference of only about 13 basis points. Blitz compared the long-term growth levels of different assets. Over the past 10 years, the US nominal GDP has grown at an average annual rate of 5.69%. At this rate, the economy would have doubled in about 13 years; the 10-year zero-coupon US Treasury bond, compounded at a yield of 4.91%, would have doubled in about 14 years; and using the current 4.78% earnings yield of the S&P 500 as a simplified calculation, it would have taken about 15 years. With these three sets of indicators in a similar range, Blitz believes that the overall valuation of US stocks is basically reasonable, and the current yield on US Treasury bonds is not yet sufficient to significantly attract funds away from the stock market. The report also points out that valuation differences across different industries and large companies remain significant. The median forward price-to-earnings ratio for the top 20 companies by market capitalization in the S&P 500 is 24.66, higher than the overall index's 20.9. Blitz believes that as the scope for valuation reassessment narrows, fiscal policy, monetary policy, and geopolitical changes will have a greater impact on future stock returns.

South Korean Finance Minister: We will closely monitor US tariff policies and the Middle East war.

South Korean Finance Minister: We will closely monitor changes in US artificial intelligence policy following the US midterm elections.

According to the Financial Times, Microsoft (MSFT.O) has rejected a multi-billion dollar artificial intelligence deal with UK-based emerging cloud service provider Nscale.

JPMorgan Chase lowered its price target for Snap (SNAP.N) from $6 to $5.

Toyota Motor Corporation has raised its dividend for the current fiscal year to 100 yen.

Toyota Motor Corporation has expanded its share buyback program to 1.3 trillion yen.

Toyota Motor Corporation: North American sales are projected to reach 3 million units this fiscal year, up from the previous forecast of 3.02 million units. European sales are projected to reach 1.22 million units this fiscal year, also unchanged from the previous forecast.

Russia claims that the drone attack caused fires at industrial facilities in the Ryazan region.

India’s Sensex index is on track for its biggest one-day percentage gain since June.

India's Sensex index rose 2.1% to 78,918.02 points.

The Iranian Revolutionary Guard stated that the US regime has paid an extremely heavy price by pressuring and instigating ships to illegally traverse mine-filled waterways, imposing enormous insurance premiums on damaged vessels on American taxpayers and allies in the region. If it had possessed even a modicum of strategic acumen, it would have avoided such heavy losses and the humiliation of its electoral defeat by unfreezing Iranian funds—which amount to less than half of what has already been paid—rather than paying these costs.

According to Autostat, a Russian automotive market analysis agency, Russian car sales fell 19.8% year-on-year in October to 132,894 vehicles.

A survey by the European Investment Bank found that three-quarters of EU citizens believe a low-carbon energy transition is urgent.

The yield on Japan's 2-year government bonds fell 3 basis points to 1.855%.