India Indexes On Recovery Path Amid Improving Market Sentiment

Stock market indexes in Mumbai edged higher for the fourth session in a row, and crude oil prices held steady near the recent lows. 

The Sensex index edged higher 0.3% to 81,148.5, and the Nifty index advanced 0.4% to 24,560.80. 

Crude oil prices hovered near an 18-month low as OPEC+ members are nearing the agreement to postpone the previously announced production increase amid weak growth in demand. 

The member nations are expected to announce their decision to delay the production increase by three months at its meeting on Thursday. 

South Korea's benchmark index plunged as much as 2% after President Yoon Suk Yeol unexpectedly imposed martial law late Tuesday. 

Six hours later, President Yeol reversed his decision after the National Assembly voted against it and demanded his resignation or face impeachment. 

The finance ministry said it is ready to pump 10 trillion yen, or about $7.5 billion, to stabilize the financial markets, according to the Yonhap news agency. 

India Stock Movers 

Adani Energy Solutions Ltd. increased 1.8% to ₹813.95, and the company is likely to win a ₹25,000 crore order from Rajasthan for a transmission system project. 

Swiggy increased 2.7% to ₹515.15, and the company reported a slight improvement in its quarterly loss in the September quarter. 

Net loss in the quarter edged lower to ₹625.5 crore from ₹657 crore a year ago but rose from ₹611 crore in the fiscal first quarter. 

DLF increased 0.0.3% to ₹847.20, and the company appointed Badal Bagri as the new chief financial officer effective December 6. 

Bank of Baroda increased 0.3% to ₹255.36, and Bank of India rose 2.5% to ₹116.94, and the two leading banks are looking to raise as much as ₹5,000 crore through the sale of infrastructure bonds. 

Godrej Properties decreased 1% to ₹2,833.80, and the company raised ₹6,000 crore through a secondary offering to institutional investors, the largest offering by a real estate company in India. 

Reliance Power jumped 5% to ₹41.09, and the government agency to implement solar projects, the Solar Energy Corporation of India, lifted its ban on the company. 

After the lifting of the ban, the power company will be able to participate in future tenders for renewable energy projects. 

India Indexes On Recovery Path Amid Improving Market Sentim

Stock market indexes in Mumbai edged higher for the fourth session in a row, and crude oil prices held steady near the recent lows. 

The Sensex index edged higher 0.3% to 81,148.5, and the Nifty index advanced 0.4% to 24,560.80. 

Crude oil prices hovered near an 18-month low as OPEC+ members are nearing the agreement to postpone the previously announced production increase amid weak growth in demand. 

The member nations are expected to announce their decision to delay the production increase by three months at its meeting on Thursday. 

South Korea's benchmark index plunged as much as 2% after President Yoon Suk Yeol unexpectedly imposed martial law late Tuesday. 

Six hours later, President Yeol reversed his decision after the National Assembly voted against it and demanded his resignation or face impeachment. 

The finance ministry said it is ready to pump 10 trillion yen, or about $7.5 billion, to stabilize the financial markets, according to the Yonhap news agency. 

India Stock Movers 

Adani Energy Solutions Ltd. increased 1.8% to ₹813.95, and the company is likely to win a ₹25,000 crore order from Rajasthan for a transmission system project. 

Swiggy increased 2.7% to ₹515.15, and the company reported a slight improvement in its quarterly loss in the September quarter. 

Net loss in the quarter edged lower to ₹625.5 crore from ₹657 crore a year ago but rose from ₹611 crore in the fiscal first quarter. 

DLF increased 0.0.3% to ₹847.20, and the company appointed Badal Bagri as the new chief financial officer effective December 6. 

Bank of Baroda increased 0.3% to ₹255.36, and Bank of India rose 2.5% to ₹116.94, and the two leading banks are looking to raise as much as ₹5,000 crore through the sale of infrastructure bonds. 

Godrej Properties decreased 1% to ₹2,833.80, and the company raised ₹6,000 crore through a secondary offering to institutional investors, the largest offering by a real estate company in India. 

Reliance Power jumped 5% to ₹41.09, and the government agency to implement solar projects, the Solar Energy Corporation of India, lifted its ban on the company. 

After the lifting of the ban, the power company will be able to participate in future tenders for renewable energy projects. 

Rate Cut Optimism Drives U.S. and Europe Indexes Higher, China Trade Restrictions May Lack Teeth

Stock market indexes on Wall Street held steady in Tuesday's trading, following new records in the previous session.

The S&P 500 index and the Nasdaq Composite rested after both indexes closed at new highs in the previous session. 

The S&P 500 index notched its 54th high of the year, following a string of positive economic reports and post-election euphoria surrounding the return of Donald Trump to the White House. 

The latest update on the labor market confirmed tight conditions as the private sector continues to add more jobs in the service sector. 

U.S. job openings in November increased by 372,000 to 7.744 million from a downwardly revised 7.37 million in September. 

Over the year, the number of job openings declined by 941,000. 

The number of job openings increased in professional and business services by 209,000, accommodation and food services by 162,000, and information by 87,000 but decreased in federal government by 26,000.

Meanwhile, the number of hires and separations was little changed at 5.3 million in the month, the U.S. Bureau of Labor Statistics noted in the report released on Tuesday. 

Investors are looking ahead to the release of the nonfarm payrolls report on Friday and comments from Fed Chair Jerome Powell on Wednesday and other officials later today. 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.02% to 6,045.46, the Nasdaq Composite rose 0.1% to 19,429.80, and the Russell 2000 index inched lower 0.1% to 2,432.13. 

The yield on 2-year Treasury notes edged lower to 4.17%, 10-year Treasury notes inched down to 4.19%, and 30-year Treasury bonds increased to 4.37%.

WTI crude oil increased $1.86 to $70.05 a barrel, and natural gas prices edged down 14 cents to $3.07 a thermal unit.

Gold increased by $6.10 to $2,648.03 an ounce, and silver rose by $0.42 to $31.01. 

The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower by 0.21 to 106.22.

U.S. Stock Movers 

Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

Tesla said on a social media platform, X, it plans to appeal the decision. 

U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 

Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 

Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 

European Bond Yields Hold Steady as Political Storms Gather In France 

European markets advanced in cautious trading as investors reacted to the latest trade restrictions announced by the U.S. and growing political uncertainty in France. 

Benchmark indexes in Paris, Milan, Frankfurt, and London inched higher, but investors worried about the political instability in France.

Prime Minister Michel Barnier's minority government is facing two no-confidence votes on Wednesday after he used constitutional provisions to pass the next fiscal year budget without a vote in the parliament. 

The fallout from the most likely fall of the government on Wednesday pushes France into uncharted territory. 

According to the French election rules, the next possible earliest date for a general election cannot be before June of 2025. 

Bond investors were calm, despite the growing certainty that the eurozone's second-largest economy is heading for political chaos that could last several months or even quarters. 

Semiconductor-related technology stocks advanced after the latest trade restrictions with China were far less stringent than expected weeks ago. 

In addition, the measures provided exemptions to key allies, including Japan and the Netherlands. 

After the announcement by the U.S. Commerce Department, ASML said that the new restrictions are not likely to have "any direct material impact" in the current year. 

Europe Indexes and Yields

The DAX index increased by 0.5% to 20,035.14; the CAC-40 index rose by 0.3% to 7,255.42; and the FTSE 100 index inched higher by 0.6% to 8,359.41.

The yield on 10-year German bonds edged higher to 2.05%, French bonds inched up to 2.90%, the UK gilts edged lower to 4.22%, and Italian bonds decreased to 3.25%.

The euro edged higher to $1.05; the British pound inched down to $1.26; and the U.S. dollar eased to 88.45 Swiss cents.

Brent crude increased $1.76 to $73.69 a barrel, and the Dutch TTF natural gas fell by €0.12 to €48.38 per MWh. 

Europe Stock Movers

French banks and technology stocks in the currency union were the focus in Tuesday's trading. 

Société Générale decreased 0.7% to €24.27, BNP Paribas fell 0.3% to €55.80, Credit Agricole declined 0.3% to €12.52, and AXA eased 0.4% to €32.43. 

ASML Holding NV rose 1.4% to €673.20, STMicroelectronics edged up 0.1% to €24.62, and Infineon Technologies advanced 0.2% to €31.17. 

Greencore Group plc soared 12.1% to 221.0 pence after the sandwich and the convenience food maker reported a 36% jump in its pre-tax annual profit. 

The company announced a £10 million stock repurchase plan, following a strong rise in annual profit. 

Hg Capital Trust increased 1.1% to 534.0 pence, and the company agreed to sell bookkeeping automation platform provider Dext Software Ltd. to IRIS Software Group. 

The transaction is expected to be finalized by the end of 2024. 

Worldline SA dropped 5.7% to €7.15, despite reports suggesting that the private equity firm Bain Capital may be interested in the French payment processing firm.

Worldline's stock is trading at a record low, and Bain's investment in Nexi may pose a hurdle in striking a possible deal.

Nexi SpA decreased 2.4% to €5.77. 

Assa Abloy AB jumped 1.4% to SEK 342.40 after the Swedish maker of locks, gates, and entrance automation products agreed to acquire Finland-based 9Solutions.

The company said 9Solutions generates about SEK 100 million in annual revenue, and the acquisition is going to be accretive from day one. 

A day ago, the company agreed to acquire the U.S.-based Premier Steel Doors and Frames, the maker of metal doors and frames with an annual revenue of about $40 million. 

The company expects the acquisition to be accretive from the start because of the Premier's strong operating margins. 

Rally In Semiconductor Stocks Power Broader Advance In Japan Indexes 

Stock market indexes in Tokyo advanced following gains in overnight trading on Wall Street. 

The Nikkei 225 stock average jumped 1.9%, and the broader Topix gained 1.4%, driven by a jump in semiconductor-related stocks. 

The rise in market indexes was fueled by the exemption granted to Japanese equipment makers in the latest trade restrictions announced by the Biden administration. 

The additional U.S. sanctions cover 24 types of semiconductor equipment and three types of design and testing software and expanded its restriction list to 140 companies covering the supply chain network. 

However, these restrictions on state-of-the-art technology that enable the manufacturing of artificial intelligence chips and technology excluded most Japanese products and equipment. 

The surprise rally in semiconductor stocks spread to the broader market and lifted benchmark indexes for the third day in a row. 

The Japanese yen traded at 150.88 against the U.S. dollar as investors reaffirmed bets that the Bank of Japan is more likely to raise rates at the end of its policy meeting in two weeks. 

Japan Stock Movers 

The Nikkei 225 stock average increased 1.9% to 39,248.86, and the broader Topix index advanced 1.4% to 2,753.58. 

Tokyo Electron increased 4.3% to ¥24,650.0, Advantest gained 3.9% to ¥8,750.0, and Lasetec jumped 4.3% to ¥17,005.0. 

Shipping companies were among the leading gainers in Tokyo. 

Mitsui O.S.K. gained 5.2% to ¥5,286.0, Kawasaki Kisen Kaisha added 4.5% to ¥2,109.50, and Nippon Yusen increased 3.8% to ¥5,020.0. 

Nippon Yusen said it completed the acquisition of 4.39 million shares for about ¥21.6 billion in November as part of its 35 million stock repurchase plan approved by the company's board. 

China's Yuan Trades Near 17-Year Low, U.S. New Trade Restrictions Target Chinese Companies 

Stock market indexes in China and Hong Kong struggled to hold gains of the previous session amid worries of growing trade tensions as the U.S. imposed additional restrictions. 

The Hang Seng index and the mainland-focused CSI 300 index edged up 0.2%, but market sentiment remained weak. 

The Biden administration announced new restrictions on shipments of 24 types of semiconductor equipment and three categories of design and processing software.

The expanded list includes 140 companies, nearly all are China based, including SMIC, Beijing Naura, Piotech, and ACM Research, and Huawei-linked companies. 

Moreover, exporters are bracing for additional sanctions next month from the new U.S. administration that could cover a wider range of products and industries. 

The blitz of fiscal stimulus announced by Chinese policymakers in September has failed to revive consumer sentiment and the property market transactions, as policy measures focused on supporting local government finances. 

The Chinese yuan traded near a 17-year low amid policy easing expectations and rising outflow of funds.

People's Bank of China's governor, Pan Gongsheng, said in a statement that the central bank is prepared to take countercyclical measures to support economic growth and provide ample liquidity to businesses to reduce financing costs. 

China Stock Movers 

The Hang Seng index increased 0.2% to 19,567.07, and the mainland-focused CSI 300 index fell 0.4% to 3,930.51. 

Semiconductor-related stocks, electric vehicle makers, and energy stocks were among the most actively traded stocks on Tuesday. 

SMIC fell 1.9% to HK $25.90, GigaDevice fell 1.5% to ¥83.72, and Hygon Information Technology dropped 1.3% to ¥125.37. 

BYD added 0.1% to HK $261.80, Li Auto declined 1.4% to HK $87.55, and Geely Automobile eased 0.3% to HK $14.24, and Xpeng fell 0.1% to HK $48.75. 

CNOOC rose 1.9% to HK $17.40, Sinochem International decreased 0.4% to ¥4.35, and Jilin Chemical gained 1% to ¥3.98. 

China Mobile decreased 0.6% to HK $72.25 after the telecom company made a HK $7.8 billion offer to acquire HKBN.

HKBN jumped 5.5% to HK $5.13. 

India Indexes Extend 3-Day Gains Ahead of RBI's Rate Decisions 

Market indexes on Dalal Street traded higher ahead of the rate decisions later this week. 

The Sensex index increased 0.3% to 80,453.88, and the Nifty index advanced 0.2% to 24,326.65. 

The Reserve Bank of India is expected to hold rates steady at the end of its three-day policy meeting on December 6. 

The rate-setting committee is likely to keep rates unchanged for the eleventh consecutive meeting amid economic slowdown in the fiscal second quarter and elevated food inflation. 

However, most economists and market watchers held out for a rebound in activities in the second quarter amid strong rural demand, an ongoing festival season, and a pick-up in government spending following the general elections. 

In international markets, crude oil lacked direction but retained a downward bias ahead of the OPEC+ meeting this Thursday. 

Oil traders are hoping that the group will postpone a previously announced production increase as demand growth from key customers in Asia remains weak amid a supply glut in international markets. 

The U.S. dollar continued to advance against the euro, and France's minority government is likely to collapse as early as this week if three political groups fail to agree on budget measures of €60 billion. 

India Stock Movers 

Punjab & Sind Bank increased 2.1% to ₹50.96, and the company is planning to raise as much as ₹3,000 crore through the sale of 10-year infrastructure bonds. 

Torrent Power gained 4% to ₹1,653.0, and the company launched a ₹5,000 crore secondary offering for institutional investors with a floor price of ₹1,555.75 per share. 

Cipla Ltd. jumped 2% to ₹1,538.55, and Samina Hamied and Rumana Hamied, two promoters of the company, sold their combined 1.72% stake for ₹2,111 crore. 

BNP Paribas, Societe Generale, Norges Bank, Bank of America Securities, UBS, Copthall Mauritius, and sovereign funds of Abu Dhabi and Singapore purchased shares in open market transactions. 

Coal India increased 0.4% to ₹423.35 after the mining company said coal production in November increased 1.7% to 67.2 million tons. 

The company said coal production in the first six months to November rose 2.4% from a year ago to 471 million tons.

Coal India accounts for 80% of domestic coal production. 

Adani Power declined 0.5% to ₹546.20, and Bangladesh halved its electric power purchase from the company, citing lower winter demand amid ongoing disagreement over unpaid dues totaling several hundred million dollars. 

Varun Beverages decreased 1.6% to ₹624.90, and ITC fell 1.6% to ₹469.60 on a worry that the government may increase the Goods and Services Tax on cigarettes, tobacco, and carbonated beverages. 

A committee of ministers has recommended increasing GST to 35% from 28%, reported Business Standard. 

Rate Cut Optimism Drives U.S. and Europe Indexes Higher, China Trade Restrictions May Lack Teeth

Stock market indexes on Wall Street held steady in Tuesday's trading, following new records in the previous session.

The S&P 500 index and the Nasdaq Composite rested after both indexes closed at new highs in the previous session. 

The S&P 500 index notched its 54th high of the year, following a string of positive economic reports and post-election euphoria surrounding the return of Donald Trump to the White House. 

The latest update on the labor market confirmed tight conditions as the private sector continues to add more jobs in the service sector. 

U.S. job openings in November increased by 372,000 to 7.744 million from a downwardly revised 7.37 million in September. 

Over the year, the number of job openings declined by 941,000. 

The number of job openings increased in professional and business services by 209,000, accommodation and food services by 162,000, and information by 87,000 but decreased in federal government by 26,000.

Meanwhile, the number of hires and separations was little changed at 5.3 million in the month, the U.S. Bureau of Labor Statistics noted in the report released on Tuesday. 

Investors are looking ahead to the release of the nonfarm payrolls report on Friday and comments from Fed Chair Jerome Powell on Wednesday and other officials later today. 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.02% to 6,045.46, the Nasdaq Composite rose 0.1% to 19,429.80, and the Russell 2000 index inched lower 0.1% to 2,432.13. 

The yield on 2-year Treasury notes edged lower to 4.17%, 10-year Treasury notes inched down to 4.19%, and 30-year Treasury bonds increased to 4.37%.

WTI crude oil increased $1.86 to $70.05 a barrel, and natural gas prices edged down 14 cents to $3.07 a thermal unit.

Gold increased by $6.10 to $2,648.03 an ounce, and silver rose by $0.42 to $31.01. 

The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower by 0.21 to 106.22.

U.S. Stock Movers 

Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

Tesla said on a social media platform, X, it plans to appeal the decision. 

U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 

Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 

Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 

European Bond Yields Hold Steady as Political Storms Gather In France 

European markets advanced in cautious trading as investors reacted to the latest trade restrictions announced by the U.S. and growing political uncertainty in France. 

Benchmark indexes in Paris, Milan, Frankfurt, and London inched higher, but investors worried about the political instability in France.

Prime Minister Michel Barnier's minority government is facing two no-confidence votes on Wednesday after he used constitutional provisions to pass the next fiscal year budget without a vote in the parliament. 

The fallout from the most likely fall of the government on Wednesday pushes France into uncharted territory. 

According to the French election rules, the next possible earliest date for a general election cannot be before June of 2025. 

Bond investors were calm, despite the growing certainty that the eurozone's second-largest economy is heading for political chaos that could last several months or even quarters. 

Semiconductor-related technology stocks advanced after the latest trade restrictions with China were far less stringent than expected weeks ago. 

In addition, the measures provided exemptions to key allies, including Japan and the Netherlands. 

After the announcement by the U.S. Commerce Department, ASML said that the new restrictions are not likely to have "any direct material impact" in the current year. 

Europe Indexes and Yields

The DAX index increased by 0.5% to 20,035.14; the CAC-40 index rose by 0.3% to 7,255.42; and the FTSE 100 index inched higher by 0.6% to 8,359.41.

The yield on 10-year German bonds edged higher to 2.05%, French bonds inched up to 2.90%, the UK gilts edged lower to 4.22%, and Italian bonds decreased to 3.25%.

The euro edged higher to $1.05; the British pound inched down to $1.26; and the U.S. dollar eased to 88.45 Swiss cents.

Brent crude increased $1.76 to $73.69 a barrel, and the Dutch TTF natural gas fell by €0.12 to €48.38 per MWh. 

Europe Stock Movers

French banks and technology stocks in the currency union were the focus in Tuesday's trading. 

Société Générale decreased 0.7% to €24.27, BNP Paribas fell 0.3% to €55.80, Credit Agricole declined 0.3% to €12.52, and AXA eased 0.4% to €32.43. 

ASML Holding NV rose 1.4% to €673.20, STMicroelectronics edged up 0.1% to €24.62, and Infineon Technologies advanced 0.2% to €31.17. 

Greencore Group plc soared 12.1% to 221.0 pence after the sandwich and the convenience food maker reported a 36% jump in its pre-tax annual profit. 

The company announced a £10 million stock repurchase plan, following a strong rise in annual profit. 

Hg Capital Trust increased 1.1% to 534.0 pence, and the company agreed to sell bookkeeping automation platform provider Dext Software Ltd. to IRIS Software Group. 

The transaction is expected to be finalized by the end of 2024. 

Worldline SA dropped 5.7% to €7.15, despite reports suggesting that the private equity firm Bain Capital may be interested in the French payment processing firm.

Worldline's stock is trading at a record low, and Bain's investment in Nexi may pose a hurdle in striking a possible deal.

Nexi SpA decreased 2.4% to €5.77. 

Assa Abloy AB jumped 1.4% to SEK 342.40 after the Swedish maker of locks, gates, and entrance automation products agreed to acquire Finland-based 9Solutions.

The company said 9Solutions generates about SEK 100 million in annual revenue, and the acquisition is going to be accretive from day one. 

A day ago, the company agreed to acquire the U.S.-based Premier Steel Doors and Frames, the maker of metal doors and frames with an annual revenue of about $40 million. 

The company expects the acquisition to be accretive from the start because of the Premier's strong operating margins. 

Rally In Semiconductor Stocks Power Broader Advance In Japan Indexes 

Stock market indexes in Tokyo advanced following gains in overnight trading on Wall Street. 

The Nikkei 225 stock average jumped 1.9%, and the broader Topix gained 1.4%, driven by a jump in semiconductor-related stocks. 

The rise in market indexes was fueled by the exemption granted to Japanese equipment makers in the latest trade restrictions announced by the Biden administration. 

The additional U.S. sanctions cover 24 types of semiconductor equipment and three types of design and testing software and expanded its restriction list to 140 companies covering the supply chain network. 

However, these restrictions on state-of-the-art technology that enable the manufacturing of artificial intelligence chips and technology excluded most Japanese products and equipment. 

The surprise rally in semiconductor stocks spread to the broader market and lifted benchmark indexes for the third day in a row. 

The Japanese yen traded at 150.88 against the U.S. dollar as investors reaffirmed bets that the Bank of Japan is more likely to raise rates at the end of its policy meeting in two weeks. 

Japan Stock Movers 

The Nikkei 225 stock average increased 1.9% to 39,248.86, and the broader Topix index advanced 1.4% to 2,753.58. 

Tokyo Electron increased 4.3% to ¥24,650.0, Advantest gained 3.9% to ¥8,750.0, and Lasetec jumped 4.3% to ¥17,005.0. 

Shipping companies were among the leading gainers in Tokyo. 

Mitsui O.S.K. gained 5.2% to ¥5,286.0, Kawasaki Kisen Kaisha added 4.5% to ¥2,109.50, and Nippon Yusen increased 3.8% to ¥5,020.0. 

Nippon Yusen said it completed the acquisition of 4.39 million shares for about ¥21.6 billion in November as part of its 35 million stock repurchase plan approved by the company's board. 

China's Yuan Trades Near 17-Year Low, U.S. New Trade Restrictions Target Chinese Companies 

Stock market indexes in China and Hong Kong struggled to hold gains of the previous session amid worries of growing trade tensions as the U.S. imposed additional restrictions. 

The Hang Seng index and the mainland-focused CSI 300 index edged up 0.2%, but market sentiment remained weak. 

The Biden administration announced new restrictions on shipments of 24 types of semiconductor equipment and three categories of design and processing software.

The expanded list includes 140 companies, nearly all are China based, including SMIC, Beijing Naura, Piotech, and ACM Research, and Huawei-linked companies. 

Moreover, exporters are bracing for additional sanctions next month from the new U.S. administration that could cover a wider range of products and industries. 

The blitz of fiscal stimulus announced by Chinese policymakers in September has failed to revive consumer sentiment and the property market transactions, as policy measures focused on supporting local government finances. 

The Chinese yuan traded near a 17-year low amid policy easing expectations and rising outflow of funds.

People's Bank of China's governor, Pan Gongsheng, said in a statement that the central bank is prepared to take countercyclical measures to support economic growth and provide ample liquidity to businesses to reduce financing costs. 

China Stock Movers 

The Hang Seng index increased 0.2% to 19,567.07, and the mainland-focused CSI 300 index fell 0.4% to 3,930.51. 

Semiconductor-related stocks, electric vehicle makers, and energy stocks were among the most actively traded stocks on Tuesday. 

SMIC fell 1.9% to HK $25.90, GigaDevice fell 1.5% to ¥83.72, and Hygon Information Technology dropped 1.3% to ¥125.37. 

BYD added 0.1% to HK $261.80, Li Auto declined 1.4% to HK $87.55, and Geely Automobile eased 0.3% to HK $14.24, and Xpeng fell 0.1% to HK $48.75. 

CNOOC rose 1.9% to HK $17.40, Sinochem International decreased 0.4% to ¥4.35, and Jilin Chemical gained 1% to ¥3.98. 

China Mobile decreased 0.6% to HK $72.25 after the telecom company made a HK $7.8 billion offer to acquire HKBN.

HKBN jumped 5.5% to HK $5.13. 

India Indexes Extend 3-Day Gains Ahead of RBI's Rate Decisions 

Market indexes on Dalal Street traded higher ahead of the rate decisions later this week. 

The Sensex index increased 0.3% to 80,453.88, and the Nifty index advanced 0.2% to 24,326.65. 

The Reserve Bank of India is expected to hold rates steady at the end of its three-day policy meeting on December 6. 

The rate-setting committee is likely to keep rates unchanged for the eleventh consecutive meeting amid economic slowdown in the fiscal second quarter and elevated food inflation. 

However, most economists and market watchers held out for a rebound in activities in the second quarter amid strong rural demand, an ongoing festival season, and a pick-up in government spending following the general elections. 

In international markets, crude oil lacked direction but retained a downward bias ahead of the OPEC+ meeting this Thursday. 

Oil traders are hoping that the group will postpone a previously announced production increase as demand growth from key customers in Asia remains weak amid a supply glut in international markets. 

The U.S. dollar continued to advance against the euro, and France's minority government is likely to collapse as early as this week if three political groups fail to agree on budget measures of €60 billion. 

India Stock Movers 

Punjab & Sind Bank increased 2.1% to ₹50.96, and the company is planning to raise as much as ₹3,000 crore through the sale of 10-year infrastructure bonds. 

Torrent Power gained 4% to ₹1,653.0, and the company launched a ₹5,000 crore secondary offering for institutional investors with a floor price of ₹1,555.75 per share. 

Cipla Ltd. jumped 2% to ₹1,538.55, and Samina Hamied and Rumana Hamied, two promoters of the company, sold their combined 1.72% stake for ₹2,111 crore. 

BNP Paribas, Societe Generale, Norges Bank, Bank of America Securities, UBS, Copthall Mauritius, and sovereign funds of Abu Dhabi and Singapore purchased shares in open market transactions. 

Coal India increased 0.4% to ₹423.35 after the mining company said coal production in November increased 1.7% to 67.2 million tons. 

The company said coal production in the first six months to November rose 2.4% from a year ago to 471 million tons.

Coal India accounts for 80% of domestic coal production. 

Adani Power declined 0.5% to ₹546.20, and Bangladesh halved its electric power purchase from the company, citing lower winter demand amid ongoing disagreement over unpaid dues totaling several hundred million dollars. 

Varun Beverages decreased 1.6% to ₹624.90, and ITC fell 1.6% to ₹469.60 on a worry that the government may increase the Goods and Services Tax on cigarettes, tobacco, and carbonated beverages. 

A committee of ministers has recommended increasing GST to 35% from 28%, reported Business Standard. 

U.S. Indexes Hover Near Record Highs, Job Openings Increased In October

Stock market indexes on Wall Street were little changed in Tuesday's trading, following new records in the previous session.

The S&P 500 index and the Nasdaq Composite held steady in early trading after both indexes closed at new highs in the previous session. 

The S&P 500 index notched its 54th high in the year, following a string of positive economic reports and post-election euphoria surrounding the return of Donald Trump to the White House. 

U.S. job openings in November increased by 372,000 to 7.744 million from a downwardly revised 7.37 million in September. 

Over the year, the number of job openings declined by 941,000. 

The number of job openings increased in professional and business services by 209,000, accommodation and food services by 162,000, and information by 87,000 but decreased in federal government by 26,000.

Meanwhile, the number of hires and separations was little changed at 5.3 million in the month, the U.S. Bureau of Labor Statistics noted in the report released on Tuesday. 

Investors are looking ahead to the release of the nonfarm payrolls report on Friday and comments from Fed Chair Jerome Powell on Wednesday and other officials later today.  

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.02% to 6,045.46, the Nasdaq Composite rose 0.1% to 19,429.80, and the Russell 2000 index inched lower 0.1% to 2,432.13. 

The yield on 2-year Treasury notes edged lower to 4.17%, 10-year Treasury notes inched down to 4.19%, and 30-year Treasury bonds increased to 4.37%.

WTI crude oil increased $1.07 to $69.25 a barrel, and natural gas prices edged down 6 cents to $3.14 a thermal unit.

Gold increased by $10.90 to $2,653.23 an ounce, and silver rose by $0.44 to $31.04. 

The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower by 0.34 to 106.14.

Stock Movers 

Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

Tesla said on a social media platform, X, it plans to appeal the decision. 

U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 

Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 

Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 

U.S. Movers: Credo Technology, Tesla, U.S. Steel, Zscaler

Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

Tesla said on a social media platform, X, it plans to appeal the decision. 

U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 

Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 

Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 

U.S. Movers: Credo Technology, Tesla, U.S. Steel, Zscaler

Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

Tesla said on a social media platform, X, it plans to appeal the decision. 

U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 

Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 

Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 

U.S. Indexes Hover Near Record Highs, Job Openings Increased In October

Stock market indexes on Wall Street were little changed in Tuesday's trading, following new records in the previous session.

The S&P 500 index and the Nasdaq Composite held steady in early trading after both indexes closed at new highs in the previous session. 

The S&P 500 index notched its 54th high in the year, following a string of positive economic reports and post-election euphoria surrounding the return of Donald Trump to the White House. 

U.S. job openings in November increased by 372,000 to 7.744 million from a downwardly revised 7.37 million in September. 

Over the year, the number of job openings declined by 941,000. 

The number of job openings increased in professional and business services by 209,000, accommodation and food services by 162,000, and information by 87,000 but decreased in federal government by 26,000.

Meanwhile, the number of hires and separations was little changed at 5.3 million in the month, the U.S. Bureau of Labor Statistics noted in the report released on Tuesday. 

Investors are looking ahead to the release of the nonfarm payrolls report on Friday and comments from Fed Chair Jerome Powell on Wednesday and other officials later today.  

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.02% to 6,045.46, the Nasdaq Composite rose 0.1% to 19,429.80, and the Russell 2000 index inched lower 0.1% to 2,432.13. 

The yield on 2-year Treasury notes edged lower to 4.17%, 10-year Treasury notes inched down to 4.19%, and 30-year Treasury bonds increased to 4.37%.

WTI crude oil increased $1.07 to $69.25 a barrel, and natural gas prices edged down 6 cents to $3.14 a thermal unit.

Gold increased by $10.90 to $2,653.23 an ounce, and silver rose by $0.44 to $31.04. 

The dollar index, which weighs the US currency against a basket of foreign currencies, edged lower by 0.34 to 106.14.

Stock Movers 

Tesla Inc. declined 1.9% to $350.25, and a Delaware judge upheld the previous judgment to deny chief executive Elon Musk the right to receive a pay package worth $56 billion in 2018. 

Following the previous judgment issued by Chancellor Kathleen McCormick in January, Tesla moved its incorporation to Texas from Delaware and ratified the annual pay plan through a shareholder vote in June. 

Tesla sought Chancellor Kathleen to reverse her opinion after the shareholder vote. 

“Were the court to condone the practice of allowing defeated parties to create new facts for the purpose of revising judgments, lawsuits would become interminable,” wrote McCormick in a judgment released on Monday. 

Tesla said on a social media platform, X, it plans to appeal the decision. 

U.S. Steel declined 5.5% to $38.70 after President-elect Donald Trump said he plans to block the company's purchase by Japan's Nippon Steel. 

Nippon Steel has agreed to pay $14 billion, and the company has committed to keeping most of the employees on the payroll after the acquisition. 

Credo Technology Group soared 33.5% to $64.01 after the high-speed connectivity solutions provider reported fiscal second quarter results. 

Revenue in the quarter ending on November 2 increased 63.6% to $72 million from $59.7 million, net loss shrank to $4.2 million from $9.4 million, and diluted loss per share eased to 3 cents from 6 cents a year ago. 

Zscaler declined 5.4% to $197.25 after the company's fiscal second quarter outlook fell short of market expectations. 

Revenue in the fiscal first quarter ending in October rose 26% to $628 million from $496.7 million, net loss shrank to $12 million from $33.5 million, and diluted loss per share eased to 8 cents from 23 cents a year ago. 

The company estimated revenue in the fiscal 2025 second quarter to range between $633 million and $635 million and adjusted earnings per share between 68 cents and 69 cents. 

For the full year 2025, the company estimated revenue between $2.623 billion and $2.643 billion and adjusted earnings per share to range between $2.94 and $2.99. 

Europe Movers: Assa Abloy, Greencore Group, Hg Capital Trust, Worldline Pay

Europe's two largest economies, France and Germany, are likely to have months of political chaos amid a weak economic backdrop and rising trade tensions with the U.S. and China.  

The DAX index increased by 0.1% to 19,951.26; the CAC-40 index rose by 0.2% to 7,248.61; and the FTSE 100 index inched higher by 0.7% to 8,370.67.

The yield on 10-year German bonds edged higher to 2.05%, French bonds inched up to 2.90%, the UK gilts edged lower to 4.22%, and Italian bonds decreased to 3.25%.

French banks and technology stocks in the currency union were the focus in Tuesday's trading. 

Société Générale decreased 0.7% to €24.27, BNP Paribas fell 0.3% to €55.80, Credit Agricole declined 0.3% to €12.52, and AXA eased 0.4% to €32.43. 

ASML Holding NV rose 1.4% to €673.20, STMicroelectronics edged up 0.1% to €24.62, and Infineon Technologies advanced 0.2% to €31.17. 

Greencore Group plc soared 12.1% to 221.0 pence after the sandwich and the convenience food maker reported a 36% jump in its pre-tax annual profit. 

The company announced a £10 million stock repurchase plan, following a strong rise in annual profit. 

Hg Capital Trust increased 1.1% to 534.0 pence, and the company agreed to sell bookkeeping automation platform provider Dext Software Ltd. to IRIS Software Group. 

The transaction is expected to be finalized by the end of 2024. 

Worldline SA dropped 5.7% to €7.15, despite reports suggesting that the private equity firm Bain Capital may be interested in the French payment processing firm.

Worldline's stock is trading at a record low, and Bain's investment in Nexi may pose a hurdle in striking a possible deal.

Nexi SpA decreased 2.4% to €5.77. 

Assa Abloy AB jumped 1.4% to SEK 342.40 after the Swedish maker of locks, gates, and entrance automation products agreed to acquire Finland-based 9Solutions.

The company said 9Solutions generates about SEK 100 million in annual revenue, and the acquisition is going to be accretive from day one. 

A day ago, the company agreed to acquire the U.S.-based Premier Steel Doors and Frames, the maker of metal doors and frames with an annual revenue of about $40 million. 

The company expects the acquisition to be accretive from the start because of the Premier's strong operating margins. 

Europe Movers: Assa Abloy, Greencore Group, Hg Capital Trust, Worldline Pay

Europe's two largest economies, France and Germany, are likely to have months of political chaos amid a weak economic backdrop and rising trade tensions with the U.S. and China.  

The DAX index increased by 0.1% to 19,951.26; the CAC-40 index rose by 0.2% to 7,248.61; and the FTSE 100 index inched higher by 0.7% to 8,370.67.

The yield on 10-year German bonds edged higher to 2.05%, French bonds inched up to 2.90%, the UK gilts edged lower to 4.22%, and Italian bonds decreased to 3.25%.

French banks and technology stocks in the currency union were the focus in Tuesday's trading. 

Société Générale decreased 0.7% to €24.27, BNP Paribas fell 0.3% to €55.80, Credit Agricole declined 0.3% to €12.52, and AXA eased 0.4% to €32.43. 

ASML Holding NV rose 1.4% to €673.20, STMicroelectronics edged up 0.1% to €24.62, and Infineon Technologies advanced 0.2% to €31.17. 

Greencore Group plc soared 12.1% to 221.0 pence after the sandwich and the convenience food maker reported a 36% jump in its pre-tax annual profit. 

The company announced a £10 million stock repurchase plan, following a strong rise in annual profit. 

Hg Capital Trust increased 1.1% to 534.0 pence, and the company agreed to sell bookkeeping automation platform provider Dext Software Ltd. to IRIS Software Group. 

The transaction is expected to be finalized by the end of 2024. 

Worldline SA dropped 5.7% to €7.15, despite reports suggesting that the private equity firm Bain Capital may be interested in the French payment processing firm.

Worldline's stock is trading at a record low, and Bain's investment in Nexi may pose a hurdle in striking a possible deal.

Nexi SpA decreased 2.4% to €5.77. 

Assa Abloy AB jumped 1.4% to SEK 342.40 after the Swedish maker of locks, gates, and entrance automation products agreed to acquire Finland-based 9Solutions.

The company said 9Solutions generates about SEK 100 million in annual revenue, and the acquisition is going to be accretive from day one. 

A day ago, the company agreed to acquire the U.S.-based Premier Steel Doors and Frames, the maker of metal doors and frames with an annual revenue of about $40 million. 

The company expects the acquisition to be accretive from the start because of the Premier's strong operating margins. 

European Bond Yields Hold Steady as Political Storms Gather In France

European markets advanced in cautious trading as investors reacted to the latest trade restrictions announced by the U.S. and growing political uncertainty in France. 

Benchmark indexes in Paris, Milan, Frankfurt, and London inched higher, but investors worried about the political instability in France.

Prime Minister Michel Barnier's minority government is facing two no-confidence votes on Wednesday after he used constitutional provisions to pass the next fiscal year budget without a vote in the parliament. 

The fallout from the most likely fall of the government on Wednesday pushes France into uncharted territory. 

According to the French election rules, the next possible earliest date for a general election cannot be before June of 2025. 

Bond investors were calm, despite the growing certainty that the eurozone's second-largest economy is heading for political chaos that could last several months or even quarters. 

Semiconductor-related technology stocks advanced after the latest trade restrictions with China were far less stringent than expected weeks ago. 

In addition, the measures provided exemptions to key allies, including Japan and the Netherlands. 

After the announcement by the U.S. Commerce Department, ASML said that the new restrictions are not likely to have "any direct material impact" in the current year. 

Europe Indexes and Yields

The DAX index increased by 0.1% to 19,951.26; the CAC-40 index rose by 0.2% to 7,248.61; and the FTSE 100 index inched higher by 0.7% to 8,370.67.

The yield on 10-year German bonds edged higher to 2.05%, French bonds inched up to 2.90%, the UK gilts edged lower to 4.22%, and Italian bonds decreased to 3.25%.

The euro edged higher to $1.05; the British pound inched down to $1.26; and the U.S. dollar eased to 88.45 Swiss cents.

Brent crude increased $0.65 to $72.58 a barrel, and the Dutch TTF natural gas fell by €0.04 to €48.46 per MWh. 

Europe Stock Movers

French banks and technology stocks in the currency union were the focus in Tuesday's trading. 

Société Générale decreased 0.7% to €24.27, BNP Paribas fell 0.3% to €55.80, Credit Agricole declined 0.3% to €12.52, and AXA eased 0.4% to €32.43. 

ASML Holding NV rose 1.4% to €673.20, STMicroelectronics edged up 0.1% to €24.62, and Infineon Technologies advanced 0.2% to €31.17. 

Greencore Group plc soared 12.1% to 221.0 pence after the sandwich and the convenience food maker reported a 36% jump in its pre-tax annual profit. 

The company announced a £10 million stock repurchase plan, following a strong rise in annual profit. 

Hg Capital Trust increased 1.1% to 534.0 pence, and the company agreed to sell bookkeeping automation platform provider Dext Software Ltd. to IRIS Software Group. 

The transaction is expected to be finalized by the end of 2024. 

Worldline SA dropped 5.7% to €7.15, despite reports suggesting that the private equity firm Bain Capital may be interested in the French payment processing firm.

Worldline's stock is trading at a record low, and Bain's investment in Nexi may pose a hurdle in striking a possible deal.

Nexi SpA decreased 2.4% to €5.77. 

Assa Abloy AB jumped 1.4% to SEK 342.40 after the Swedish maker of locks, gates, and entrance automation products agreed to acquire Finland-based 9Solutions.

The company said 9Solutions generates about SEK 100 million in annual revenue, and the acquisition is going to be accretive from day one. 

A day ago, the company agreed to acquire the U.S.-based Premier Steel Doors and Frames, the maker of metal doors and frames with an annual revenue of about $40 million. 

The company expects the acquisition to be accretive from the start because of the Premier's strong operating margins. 

European Bond Yields Hold Steady as Political Storms Gather In France

European markets advanced in cautious trading as investors reacted to the latest trade restrictions announced by the U.S. and growing political uncertainty in France. 

Benchmark indexes in Paris, Milan, Frankfurt, and London inched higher, but investors worried about the political instability in France.

Prime Minister Michel Barnier's minority government is facing two no-confidence votes on Wednesday after he used constitutional provisions to pass the next fiscal year budget without a vote in the parliament. 

The fallout from the most likely fall of the government on Wednesday pushes France into uncharted territory. 

According to the French election rules, the next possible earliest date for a general election cannot be before June of 2025. 

Bond investors were calm, despite the growing certainty that the eurozone's second-largest economy is heading for political chaos that could last several months or even quarters. 

Semiconductor-related technology stocks advanced after the latest trade restrictions with China were far less stringent than expected weeks ago. 

In addition, the measures provided exemptions to key allies, including Japan and the Netherlands. 

After the announcement by the U.S. Commerce Department, ASML said that the new restrictions are not likely to have "any direct material impact" in the current year. 

Europe Indexes and Yields

The DAX index increased by 0.1% to 19,951.26; the CAC-40 index rose by 0.2% to 7,248.61; and the FTSE 100 index inched higher by 0.7% to 8,370.67.

The yield on 10-year German bonds edged higher to 2.05%, French bonds inched up to 2.90%, the UK gilts edged lower to 4.22%, and Italian bonds decreased to 3.25%.

The euro edged higher to $1.05; the British pound inched down to $1.26; and the U.S. dollar eased to 88.45 Swiss cents.

Brent crude increased $0.65 to $72.58 a barrel, and the Dutch TTF natural gas fell by €0.04 to €48.46 per MWh. 

Europe Stock Movers

French banks and technology stocks in the currency union were the focus in Tuesday's trading. 

Société Générale decreased 0.7% to €24.27, BNP Paribas fell 0.3% to €55.80, Credit Agricole declined 0.3% to €12.52, and AXA eased 0.4% to €32.43. 

ASML Holding NV rose 1.4% to €673.20, STMicroelectronics edged up 0.1% to €24.62, and Infineon Technologies advanced 0.2% to €31.17. 

Greencore Group plc soared 12.1% to 221.0 pence after the sandwich and the convenience food maker reported a 36% jump in its pre-tax annual profit. 

The company announced a £10 million stock repurchase plan, following a strong rise in annual profit. 

Hg Capital Trust increased 1.1% to 534.0 pence, and the company agreed to sell bookkeeping automation platform provider Dext Software Ltd. to IRIS Software Group. 

The transaction is expected to be finalized by the end of 2024. 

Worldline SA dropped 5.7% to €7.15, despite reports suggesting that the private equity firm Bain Capital may be interested in the French payment processing firm.

Worldline's stock is trading at a record low, and Bain's investment in Nexi may pose a hurdle in striking a possible deal.

Nexi SpA decreased 2.4% to €5.77. 

Assa Abloy AB jumped 1.4% to SEK 342.40 after the Swedish maker of locks, gates, and entrance automation products agreed to acquire Finland-based 9Solutions.

The company said 9Solutions generates about SEK 100 million in annual revenue, and the acquisition is going to be accretive from day one. 

A day ago, the company agreed to acquire the U.S.-based Premier Steel Doors and Frames, the maker of metal doors and frames with an annual revenue of about $40 million. 

The company expects the acquisition to be accretive from the start because of the Premier's strong operating margins. 

Rally In Semiconductor Stocks Power Broader Advance In Japan Indexes

Stock market indexes in Tokyo advanced following gains in overnight trading on Wall Street. 

The Nikkei 225 stock average jumped 1.9%, and the broader Topix gained 1.4%, driven by a jump in semiconductor-related stocks. 

The rise in market indexes was fueled by the exemption granted to Japanese equipment makers in the latest trade restrictions announced by the Biden administration. 

The additional U.S. sanctions cover 24 types of semiconductor equipment and three types of design and testing software and expanded its restriction list to 140 companies covering the supply chain network. 

However, these restrictions on state-of-the-art technology that enable the manufacturing of artificial intelligence chips and technology excluded most Japanese products and equipment. 

The surprise rally in semiconductor stocks spread to the broader market and lifted benchmark indexes for the third day in a row. 

The Japanese yen traded at 150.88 against the U.S. dollar as investors reaffirmed bets that the Bank of Japan is more likely to raise rates at the end of its policy meeting in two weeks. 

Japan Stock Movers 

The Nikkei 225 stock average increased 1.9% to 39,248.86, and the broader Topix index advanced 1.4% to 2,753.58. 

Tokyo Electron increased 4.3% to ¥24,650.0, Advantest gained 3.9% to ¥8,750.0, and Lasetec jumped 4.3% to ¥17,005.0. 

Shipping companies were among the leading gainers in Tokyo. 

Mitsui O.S.K. gained 5.2% to ¥5,286.0, Kawasaki Kisen Kaisha added 4.5% to ¥2,109.50, and Nippon Yusen increased 3.8% to ¥5,020.0. 

Nippon Yusen said it completed the acquisition of 4.39 million shares for about ¥21.6 billion in November as part of its 35 million stock repurchase plan approved by the company's board. 

Rally In Semiconductor Stocks Power Broader Advance In Japan Indexes

Stock market indexes in Tokyo advanced following gains in overnight trading on Wall Street. 

The Nikkei 225 stock average jumped 1.9%, and the broader Topix gained 1.4%, driven by a jump in semiconductor-related stocks. 

The rise in market indexes was fueled by the exemption granted to Japanese equipment makers in the latest trade restrictions announced by the Biden administration. 

The additional U.S. sanctions cover 24 types of semiconductor equipment and three types of design and testing software and expanded its restriction list to 140 companies covering the supply chain network. 

However, these restrictions on state-of-the-art technology that enable the manufacturing of artificial intelligence chips and technology excluded most Japanese products and equipment. 

The surprise rally in semiconductor stocks spread to the broader market and lifted benchmark indexes for the third day in a row. 

The Japanese yen traded at 150.88 against the U.S. dollar as investors reaffirmed bets that the Bank of Japan is more likely to raise rates at the end of its policy meeting in two weeks. 

Japan Stock Movers 

The Nikkei 225 stock average increased 1.9% to 39,248.86, and the broader Topix index advanced 1.4% to 2,753.58. 

Tokyo Electron increased 4.3% to ¥24,650.0, Advantest gained 3.9% to ¥8,750.0, and Lasetec jumped 4.3% to ¥17,005.0. 

Shipping companies were among the leading gainers in Tokyo. 

Mitsui O.S.K. gained 5.2% to ¥5,286.0, Kawasaki Kisen Kaisha added 4.5% to ¥2,109.50, and Nippon Yusen increased 3.8% to ¥5,020.0. 

Nippon Yusen said it completed the acquisition of 4.39 million shares for about ¥21.6 billion in November as part of its 35 million stock repurchase plan approved by the company's board. 

China's Yuan Trades Near 17-Year Low, U.S. New Trade Restrictions Target Chinese Companies

Stock market indexes in China and Hong Kong struggled to hold gains of the previous session amid worries of growing trade tensions as the U.S. imposed additional restrictions. 

The Hang Seng index and the mainland-focused CSI 300 index edged up 0.2%, but market sentiment remained weak. 

The Biden administration announced new restrictions on shipments of 24 types of semiconductor equipment and three categories of design and processing software.

The expanded list includes 140 companies, nearly all are China based, including SMIC, Beijing Naura, Piotech, and ACM Research, and Huawei-linked companies. 

Moreover, exporters are bracing for additional sanctions next month from the new U.S. administration that could cover a wider range of products and industries. 

The blitz of fiscal stimulus announced by Chinese policymakers in September has failed to revive consumer sentiment and the property market transactions, as policy measures focused on supporting local government finances. 

The Chinese yuan traded near a 17-year low amid policy easing expectations and rising outflow of funds.

People's Bank of China's governor, Pan Gongsheng, said in a statement that the central bank is prepared to take countercyclical measures to support economic growth and provide ample liquidity to businesses to reduce financing costs. 

China Stock Movers 

The Hang Seng index increased 0.2% to 19,567.07, and the mainland-focused CSI 300 index fell 0.4% to 3,930.51. 

Semiconductor-related stocks, electric vehicle makers, and energy stocks were among the most actively traded stocks on Tuesday. 

SMIC fell 1.9% to HK $25.90, GigaDevice fell 1.5% to ¥83.72, and Hygon Information Technology dropped 1.3% to ¥125.37. 

BYD added 0.1% to HK $261.80, Li Auto declined 1.4% to HK $87.55, and Geely Automobile eased 0.3% to HK $14.24, and Xpeng fell 0.1% to HK $48.75. 

CNOOC rose 1.9% to HK $17.40, Sinochem International decreased 0.4% to ¥4.35, and Jilin Chemical gained 1% to ¥3.98. 

China Mobile decreased 0.6% to HK $72.25 after the telecom company made a HK $7.8 billion offer to acquire HKBN.

HKBN jumped 5.5% to HK $5.13.