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World shares retreat despite Trump's trade truce with Xi
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....orld shares retreat despite Trump's trade truce with Xi<BR>PTI News<BR>Dated:- 31-10-2025<BR>PTI<BR>Manila, Oct 31 (AP) World shares retreated on Friday after US stocks fell back following President Donald Trump's meeting with China's leader, Xi Jinping. The future for the S&P 500 rose 0.6 per cent while that for the Dow Jones was up less than 0.1 per cent. In early European trading, Germany's....
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.... DAX slid 0.3 per cent to 24,048.79. Britain's FTSE 100 shed 0.2 per cent to 9,738.53. In Paris, the CAC 40 fell 0.1 per cent to 8,148.20. Despite Trump and Xi's agreement to extend a truce in the trade war between the two largest economies, Chinese markets declined on concerns over persisting tensions between Washington and Beijing. Hong Kong's Hang Seng index shed 1 per cent to 26,020.29, an....
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....d the Shanghai Composite index slipped 0.8 per cent to 3,954.79. Data released Friday showed factory activity in China contracted in October for a seventh straight month and at the fastest pace in six months. The official NBS Manufacturing PMI fell to 49.0 from 49.8 in September. Japan's Nikkei 225 index was the outlier among major Asian markets, gaining 2.1 per cent to 52,411.34, yet another ....
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....record, after a report showed industrial production rose 2.2 per cent month-on-month in September, beating market expectations and rebounding from a 1.5 per cent drop the month before. South Korea's Kospi rose 0.5 per cent to 4,107.50, while Australia's S&P/ASX 200 lost earlier gains, shedding less than 0.1 per cent to 8,881.90. Taiwan's Taiex fell 0.2 per cent while India's BSE Sensex slipped....
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.... 0.4 per cent. On Thursday, the S&P 500 fell 1 per cent to 6,822.34, dropping further from its all-time high set on Tuesday. The Dow Jones Industrial Average slipped 0.2 per cent to 47,522.12. The Nasdaq composite dropped 1.6 per cent from its record set the day before, closing at 23,581.14. Trump rated his meeting with Xi as a “12” on a scale of zero to 10, saying he would cut tariffs. Bu....
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....t stocks had already run to records on expectations for potentially bigger improvements in trade friction between Beijing and Washington. The earnings of Big Tech companies were also feeling the pressure of high hopes. Meta Platforms dropped 11.3 per cent, cutting into what had been a 28.4 per cent jump for the year so far. It was the heaviest weight on the S&P 500. Analysts said investors were ....
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....likely perturbed by how much Facebook's parent company said it's planning to spend in 2026. Companies across the industry have been on an investment spree to build out their artificial-intelligence capabilities, and the concern is whether it will all pay off. “There are moments in market history when capital stops behaving like money and starts acting like obsession — when spending becomes t....
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....he strategy, not the consequence. That's exactly where we are now with artificial intelligence,” Stephen Innes of SPI Asset Management said in a commentary. Microsoft sank 2.9 per cent even though it reported stronger profit and revenue for the latest quarter than analysts expected. Analysts pointed to how it also expects to spend more on investments in 2026 than in 2025, while growth for its ....
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....Azure business may have fallen a bit short of some investors' expectations. On the winning side of Big Tech was Alphabet. Shares of Google's parent company climbed 2.5 per cent after its profit and revenue for the latest quarter easily topped analysts' expectations. How such companies do matters incredibly for investors. The trio of Alphabet, Meta and Microsoft alone accounts for 14.5 per cent....
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.... of the total value of all the companies in the S&P 500 index, which dictates the movements for many 401(k) accounts. That means movements for them and a handful of other Big Tech companies can easily overshadow what hundreds of other stocks are doing. In other dealings early Friday, benchmark US crude oil shed 36 cents to USD 60.21 per barrel. Brent crude, the international standard, lost 36 ce....
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....nts to USD 64.01. The US dollar rose to 154.36 Japanese yen from 154.14 yen. The euro was flat at USD 1.1566. (AP) SKS SKS<BR> News - Press release - PIB....