🗓 Wednesday, November 12, 2025
► Europe higher – chip strength & US shutdown optimism lift sentiment
European markets advanced for a third straight session, supported by optimism that the US government shutdown will end within hours and by strong performances from chipmakers. Stoxx 600 +0.7%, DAX +1.3%, CAC 40 +1.3%, FTSE MIB +1.3%, IBEX 35 +1.4%, SMI +0.5%, FTSE 100 flat. Infineon +6.5% jumped after strong results and upbeat guidance, while RWE +2.9% rose after solid earnings. SSE +10.4% surged on its £2B share raise to fund a major UK grid investment plan. Broader sentiment stayed constructive as markets anticipated a post-shutdown liquidity rebound and stronger growth momentum into 2026. EUR/USD 1.157 (-0.1%), GBP/USD 1.31 (-0.35%).
► Wall Street higher – AMD & Nvidia lead tech rebound; Shutdown deal nears end
US stocks extended their winning streak as chipmakers rebounded sharply after Tuesday’s pullback. S&P 500 +0.35%, Nasdaq 100 +0.60%, Dow +0.25%. AMD +4.5% led gains after forecasting faster sales growth and highlighting that AI data center demand could reach $1 trillion by 2030. Nvidia +1.1% also gained after supplier Foxconn +17% y/y earnings boosted confidence in the sector. The US shutdown will likely end today, supporting renewed risk appetite. Treasuries rallied (US 10Y 4.08% -3bps), while the dollar gained (DXY) +0.2%. Sector rotation favored tech and energy over defensives.
► Asia higher – chip rebound and US optimism lift regional markets
Asian stocks mostly advanced as tech sentiment improved following AMD’s strong outlook and Nvidia’s rebound. Nikkei +0.4%, Kospi +1.1%, Hang Seng +0.9%, Shanghai -0.1%, Shenzhen -0.4%, ASX -0.2%, Nifty +0.7%, STI +0.6%. Foxconn +1% rose after reporting better-than-expected results driven by AI server demand. Japan’s SoftBank -10% extended losses after confirming it sold its entire Nvidia stake for $5.83B. Chinese equities lagged slightly on continued property and credit concerns, while India and Korea led gains. USD/JPY 154.87 (+0.5%), USD/CNY 7.12 (flat), AUD/USD 0.654 (+0.15%), EUR/JPY 179.2 (+0.4%).
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