新闻信息流

Morning all! - US President Trump said it is highly unlikely the US will need to resume military action against Iran if negotiations progress, while Secretary of State Rubio said talks have been unproductive. - APAC stocks were mostly higher, tracking Friday's tech rebound on Wall Street; NQ futures pared early losses after NVIDIA's Board launched a probe into reports CEO Huang was targeted by a foreign intelligence operation. - DXY consolidated after Friday's jobs-driven upside; Antipodeans outperformed, with the NZD aided by the weekend's election result. - Crude lacked direction amid mixed US rhetoric on Iran, while spot gold was firmer after the PBoC extended its gold-buying streak to 24 months. - Looking ahead, highlights include German Trade Balance (Sep), US NY Fed SCE (Oct), Atlanta Fed GDPNow (Q4), Australian Westpac Consumer Confidence (Nov), BoJ SOO (Oct). Speakers include Fed's Goolsbee, Barkin and BoE Governor Bailey. Supply from the US. Earnings from Take-Two Interactive.

RBC RAISES NEXT PLC PRICE TARGET TO 17,500P FROM 17,000P

Berenberg Raises Chesnara Price Target to 450p From 437p

Japan and Vietnam Agree to Advance Energy Security Cooperation in Tokyo Discussions - KYODO

Nvidia Futures, Overnight Stock Trading Fall as Board Probes Reports CEO Was Spy Target — Update. By Jiahui Huang Nvidia futures and shares in overnight trading fell as investors assessed the consequences of investigations into Chief Executive Jensen Huang's affair with an industry executive suspected of working for Chinese intelligence. The declines came as Nvidia's board said it is launching a probe into reports that its chief executive has been the target of a foreign espionage effort. U.S. officials last year concluded that Chinese citizen Alice Huang, then a top executive at Megaspeed International, was sharing information with the Chinese government while working with Nvidia to build data centers in Asia, The Wall Street Journal reported earlier. Huang, who also goes by Huang Le, isn't related to the Nvidia CEO. On Sunday, Jensen Huang apologized to his staff for being unfaithful to his wife. The company's board said Sunday that it has no reason to believe either Nvidia's secrets or national security were compromised and expressed confidence in the CEO's leadership. A committee of independent directors helped by outside counsel would oversee the probe, the board said in a statement, and the "inquiry will examine all available information." At a minimum, analysts expect the investigation to spark congressional inquiries and create an overhang on the stock. Jensen Huang will likely continue as CEO without interruption in the near term, analysts at Yorkville Ives said. However, they noted the possibility of him being removed from his role depending on the board investigation. "This will add risk to the stock, as he is so important to the Nvidia story and strategy globally," Dan Ives and others wrote in a note. On a broader level, the matter will increase U.S. scrutiny of the sale of chips to China, which remains a key battleground issue in Washington, the analysts said. Jukan Choe of Citrini Research echoed the sentiment, noting Jensen Huang's outsize influence over Nvidia and the company's lack of an obvious successor. Nvidia's ability to retain a startup-like culture despite its size has been largely driven by its co-founder, Choe said. Concerns may emerge that innovation could slow if his leadership is weakened, he added. Nvidia futures on CME's Globex were last down 4.7% at $178.77 on Monday, while Nasdaq futures were 0.1% higher. The AI chip leader's shares were recently 4.7% lower at $177.90 on Blue Ocean's overnight session. Shares in Nvidia, roughly flat so far this year, are off about 22% from their peak in October. Semiconductor stocks sold off last week as the Democrats' midterm election victory supercharged anxieties over an artificial-intelligence trade that had been building for weeks. Sherry Qin contributed to the article. Write to Jiahui Huang at jiahui.huang@wsj.com

Saudi Officials Say Riyadh Is No Longer Facing Potential Danger

Russia-US Diesel Deal Offers Opportunity for Gradual Restoration of Business Ties: TASS Cites Foreign Ministry

The diesel deal offers a chance for a gradual restoration of business ties between Russia and US - Tass Cites Russian Foreign Ministry

Saudi Arabia Issues Warning of Possible Danger in Riyadh Through Civil Defense

Korean Won Firms to 1,348.70 Versus the US Dollar

Korean Won Rallies 1% Against the Greenback

Jefferies Raises J D Wetherspoon Price Target to 1,190p From 840p

JAPANESE LEADING INDICATOR CHANGE ACTUAL -1.6 (FORECAST -, PREVIOUS 0.4) $MACRO

China Passenger-Car Sales Slump in October Despite Export Boom. By Jiahui Huang China's auto sales declined again in October, as weak domestic demand pushed automakers to increasingly look for overseas for growth. Retail sales of passenger cars fell 27.1% in October from a year earlier to 1.64 million units, the China Passenger Car Association said Monday. Sales rose 1.5% from September. The country's auto market failed to stage a recovery in October, traditionally a peak sales season, extending its decline to 14 consecutive months. Weaker demand from first-time buyers, higher oil prices and subdued consumption weighed on sales, the association said. After years of rapid expansion, China's auto market faces mounting headwinds from additional battery consumption taxes, lower export rebates starting in April 2027, rising material costs and tougher export requirements, Nomura anlaysts wrote in a recent note. These pressures will further squeeze automakers' profitability amid weak domestic demand, they added. New-energy vehicles, which include electric vehicles and plug-in hybrids, and exports have emerged as key growth drivers for China's auto industry. NEVs accounted for 67.5% of total passenger-car sales in October, the association said. However, retail sales of NEVs fell 13.7% from a year earlier to 1.11 million units in October. To offset slowing demand, many Chinese automakers have increasingly turned to overseas markets for growth. China's NEV exports more than doubled from a year earlier in October, while total passenger-car exports rose 68.5% to 928,000 units, CPCA data showed. Tesla exported 59,012 vehicles manufactured at its Shanghai plant in October and sold 67,829 units. November is typically a slow month for China's auto market, the CPCA said. Any recovery in sales will depend on whether consumer confidence improves, the association added. China's auto market is entering a "knockout stage," with further consolidation and industry cooperation increasingly necessary to restore sentiment, Nomura said. Write to Jiahui Huang at jiahui.huang@wsj.com

UniCredit Q3 26 Earnings: • Rev: €6.90B (est €6.47B) • Net Income: €3.26B (est €2.80B) • Net Interest Income: €3.83B (est €3.72B) • Raises FY Net Income Guidance To Well Above €11.5B, Saw Well Above €11B

Palantir Alumni Launch Plan To ‘Wake Sleeping Giants’ Of European Defence – FT

UniCredit Q3 Net Profit Rises to €3.26 Billion, Revenue Reaches €6.90 Billion; Both Beat Expectations

AI power rush sends data centres hunting for used turbines and jet engines. By Kavya Balaraman, Christoph Steitz and Nina Chestney Utilities, developers and firms racing to power AI data centres are scouring the world for second-hand gas turbines, reviving mothballed machines and converting retired jet engines, as lead times for costly new equipment stretch into the next decade. Despite growing scepticism over the perils of artificial intelligence technology and a recent selloff in related stocks, demand for energy-hungry data centres is soaring, creating a critical bottleneck for essential power infrastructure and equipment, such as turbines. "Delivery conversations (are) firmly focused on the 2030 to 2031 window," Aurora Tenorio, senior analyst at energy consultancy Wood Mackenzie, said about the US turbine market. That is prompting some companies to search for second-hand and refurbished equipment as well as turbines based on jet engines rather than wait for order backlogs to clear, according to more than a dozen brokers, service firms and suppliers. "That secondary market is very, very hot right now," said Ana Amicarella, CEO of EthosEnergy, an equipment services provider. "We also have seen an escalation on the prices of what people are demanding." Can this market be the answer to the power supply squeeze? Probably only partially, said Noor Qureshi, an associate at Enverus Intelligence Research. "The market is already constrained, with limited excess supply, so it is unlikely to offset a meaningful share of the delays," she said. Turbines are also just one obstacle, with air permits, grid access and other factors also causing delays. There are no reliable estimates of how much the secondary market is contributing to the global turbine supply worth about $25 billion a year. Its very emergence, though, attests to the profound impact the data centre boom has had across industries. AI infrastructure firm Crusoe, for example, in April ordered 13 so-called aeroderivative gas turbines from US-based ProEnergy — which are based on jet engines made by GE Aerospace GE — describing it as a strategic move to scale fast. The turbines, with a joint capacity of 650 megawatts (MW), will be deployed at Crusoe's AI data centre projects in the US. ProEnergy and Crusoe did not respond to Reuters requests for additional information. Data centres and their operators have emerged as big customers of gas turbines, a market that almost solely catered to traditional utilities until a few years ago. Today, worldwide orders top 100 gigawatts (GW), according to Wood Mackenzie, well above the estimated global production capacity of between 60 GW and 70 GW. Analysts at investment bank Jefferies estimate that US data centres alone account for nearly 17 GW of demand this year and that figure can more than triple by 2028. While global gas turbine manufacturing capacity is growing and is expected to rise to around 87 GW in 2028, it will still be well short of the 129 GW in expected turbine power demand, they said. Siemens Energy ENR , GE Vernova GEV and Mitsubishi Heavy Industries 7011 , which dominate the market, all say the AI boom has driven orders beyond their production capacity. In the United States, delivery of a gas turbine now takes six years on average, said Tenorio. Used, refurbished or repurposed equipment comes with its own challenges. Overhauled turbines can have unclear maintenance histories, limited life left and weak long-term servicing, Tenorio said. Converted jet engines raise questions about how fit they are for continuous work as power generators. Still, waiting times counted in years ensure the market's appeal. "Every few weeks we get a request to say, 'Can you find a used gas turbine to put into a data centre?'" said Darayus Pardivala, who leads the US aftermarket business of Sulzer SUL1 . Pardivala would not disclose details about the clients or the centres' locations. Costs matter too. Well-maintained used units can sell for about $1.5 million to $1.7 million per MW, and refurbished units for about $1.3 million, according to Zach Machuca, managing partner at Origin Partners, which buys power equipment for data centre developers. That is markedly less than new turbines, which cost about $2 million to $2.5 million per MW, according to Aurora Energy Research. The discount can be greater for smaller, cheaper units. Dan Poole, general manager at ReflowX, which connects buyers with turbine owners, said two 14.5-MW turbines made by Solar Turbines, a Caterpillar CAT unit, recently sold for $12.5 million, or around $430,000 per MW. New ones would cost about $35 million and take five years to deliver, he said, without disclosing the buyer. Pressed for time, developers turn to small turbines if the bigger ones are hard to come by. They sometimes deploy more than 100 at a single site and mix models and brands, said Scott Schreeg, director of sales at US equipment supplier SVI Bremco. The AI boom is affecting players far beyond data centres. The Tennessee Valley Authority TVC , a federally owned US utility, said prices for all equipment — new, used or refurbished — have "increased significantly" over the past two years. Jim Matheson, CEO of the National Rural Electric Cooperative Association, which groups non-profit utilities owned by their customers, said its members were facing unprecedented lead times and surging prices. "Co-ops that need new capacity are turning to every viable option," including purchasing refurbished turbines, he said. The rush for gigawatts has also opened new markets for alternatives to the scarce gas turbines. Finland's Wartsila WRT1V has booked around 3 GW of orders since spring last year from US data centres for power units running on gas engines instead of turbines, Anders Lindberg, president of the group's energy business, said. "What's driving the market? Lead times, lead times, lead times," he said.

Environmental groups embrace AI, even as they warn of data center impacts. By Valerie Volcovici Environmental groups worldwide are using artificial intelligence to analyze climate data, track forest fires and count endangered wildlife – embracing a technology they also warn is driving a surge in electricity demand, water use and greenhouse-gas emissions. The contradiction is forcing these organizations to justify their AI use in carrying out missions to combat climate change or protect natural resources. "We recognize that AI can come with environmental costs, and we need to be thoughtful about how we use it," said Ali Swanson, AI lead at the US nonprofit Conservation International. "But at a time when the climate and biodiversity crises are becoming more urgent, AI can help us move faster and make better use of the information we're collecting." The group recently started using AI to assess hotspots detected by satellites and send real-time alerts to community forest patrols about potential wildfires in remote and environmentally sensitive parts of Cambodia. Reuters interviewed 15 major environmental, conservation and development organizations about their AI use. All said they used the technology in some form and expressed concern about the environmental impact of the data centers powering it. The centers, filled with servers, can require vast amounts of electricity, along with water for cooling. It's a global dilemma for individuals, governments and industries balancing AI's benefits with its enormous risks. The tradeoffs likely will grab attention at the UN's COP31 climate conference this month, when host Turkey will call on governments, businesses and other institutions to sign a pledge outlining principles to ensure AI is developed and deployed sustainably. UN Secretary-General Antonio Guterres wants major AI companies to publicly disclose their systems' environmental impacts. Researchers at the United Nations University Institute for Water, Environment and Health estimate the global data-center footprint could more than double by 2030, reaching a size about twice that of Jakarta, the Indonesian megalopolis. The International Energy Agency, meanwhile, estimates global data centers will consume about 945 terawatt-hours of electricity annually by 2030, producing the equivalent of more than 300 million metric tons of carbon dioxide. That's double current consumption and about equal to Japan's annual electricity use. The agency also projects that global data center water consumption will increase from about 560 billion liters (147.9 billion gallons) in 2023 to about 1.2 trillion liters (317 billion gallons) annually by 2030. Technology giants including Microsoft MSFT , Amazon AMZN and Alphabet's GOOG Google have reported rising emissions linked in part to data center expansion, raising questions about their ability to meet their own long-term climate goals. Amazon told Reuters its artificial-intelligence products were among the most sustainable due to the company's purchases of low-carbon energy and its efforts to use power and water efficiently. Microsoft and Google didn't respond to requests for comment. BREAKTHROUGHS ONCE THOUGHT IMPOSSIBLE Many of the organizations that spoke to Reuters believe AI's benefits currently outweigh its costs because the technology is enabling work that was previously difficult, expensive or impossible. Kenya's Save the Elephants, a partner of the Wildlife Conservation Network, said it is using machine learning to improve population surveys and study elephant communication. Frank Pope, the group's chief executive, said an aerial survey of Kenya's largest protected area in 2017 generated roughly 200,000 images that took nine people nine months to review manually. AI models trained on Nvidia's GeForce graphics platforms can now complete similar analyses in hours. "The results have been eye-opening," Pope said. "We found that human surveys were missing about a third of the elephants, roughly half of zebras and giraffes, and three-quarters of oryx populations." More accurate wildlife data can help secure financing for conservation, he said. "Ultimately, these tools make nature measurable and therefore investable," he said. "That's a critical transformation, if we're going to conserve biodiversity at scale." At the institute founded by the late conservation icon Jane Goodall, researchers are using AI to digitize decades of field notes about chimpanzee behavior in Tanzania's Gombe National Park. The project was once expected to take 13-15 years because the records were written by hand using the local Kiha language and scientific shorthand. Thanks to a tool developed with Amazon Web Services, the notes can now be scanned, translated and structured in minutes, slashing the time needed to about two years, said Lilian Pintea, the Jane Goodall Institute's vice president of conservation science. During her lifetime, Pintea said, Goodall supported the use of AI to advance conservation science, provided people remained firmly in control of how it was used. "AI technology should be seen as tools which are human-centered," Pintea said. LIMITING THE ENVIRONMENTAL IMPACT Some organizations are experimenting with ways to limit the environmental impact of their AI use. The World Resources Institute (WRI), a research group that uses AI to accelerate its climate and environmental analyses, said it limits resource-intensive applications such as generating videos and images, while caching AI query results so identical searches don't need to be reprocessed. The US-based Nature Conservancy has adopted a similar approach. It uses AI to analyze video captured on commercial fishing vessels for information on how many fish of different species they catch. But instead of uploading huge numbers of videos to centralized data centers, it has installed AI-powered digital cameras to process information aboard the vessels, reducing energy use and data-transfer requirements, said Vienna Saccomanno, a senior scientist at the organization. "It takes a lot of engineering to make computation on the edge possible," she said. "This was worth it to reduce both our carbon footprint and deliver these sustainability insights." Greenpeace International said it, too, uses some AI tools, mainly because software platforms it relies upon include AI features. It's imposing internal guidelines emphasizing transparency, human oversight and "intentional" AI use, the group said. But it would prefer to sidestep the technology due to its environmental impacts and is pushing back hard on the data center buildout. "While other organizations are asking how to use AI responsibly, Greenpeace is asking whether it's necessary to build all these massive data centers in the first place," said Katrin Xueying Wu, a climate and energy campaigner with the organization. Other groups now see AI as vital to effective environmental activism. "It's our job to save the planet. If we can do that more effectively and efficiently with the limited resources we've got by using AI, then we have to seriously engage in that possibility," said Stuart Butchart, chief scientist at UK-based BirdLife International. "If we don't do it, then we're sort of being derelict in our duty."

KOSPI Reverses Course to Trade 0.8% Lower

Vietnam’s Masan Announces Sojitz’s Planned Acquisition of 5% Stake in High-Tech Materials Unit

RIA Reports Russian Strike on Power Substation in Kyiv Region, Citing Russia’s Defence Ministry

Russian Forces Hit a Ship in the Black Sea: IFX

Russia hits power substation in Kyiv region: RIA quotes Russian defence ministry

Russia hits vessel in Black Sea: IFX

Google says new Australian internet safety bill could cut off under-18s from Gmail. A proposed Australian internet law could force Google to block under-18s from using its Gmail service, an Australia-based company policy head said on Monday, underscoring an industry warning that the draft regulation risks overreach. Under the Digital Duty of Care legislation, which has already passed Australia's House of Representatives but needs cross-party support to pass the Senate, internet companies must show they are taking steps to weed out harmful content or face a fine of up to A$109 million ($75.1 million). Online companies and free speech advocates say the law could give regulators too much discretion to decide what is harmful, placing pressure on platforms to take down content. Google's GOOG warning reflects concern that the law could filter into everyday parts of the internet. A section of the law requiring age checks if there was a risk of a child seeing pornography "could require us to age assure and block access to everyday communication services like messaging, email and private file storage", said Rachel Lord, head of policy in Australia and New Zealand for Google's YouTube streaming website, at a Senate hearing. "We are talking about potentially intrusive monitoring within private communications or file storage," she added. Representatives from Meta, TikTok and Snap voiced similar concerns, warning the bill could chill online communications by allowing regulators broad discretion to determine what content or conduct is harmful while replacing some existing mandatory industry codes. Several argued the uncertainty created a risk platforms would over-moderate content to avoid large regulatory penalties. The government has said a broad set of rules is the only way to ensure a safe internet. The hearing continues. ($1 = 1.4520 Australian dollars)

Kyodo: Japan to Provide Relief on LP Gas and Kerosene Costs

Fragile calm after AI whiplash. A look at the day ahead in European and global markets from Jiaxing Li It has been an upbeat start to the week, with Asian shares rebounding and US equity futures edging higher, after the Democrats' sweeping midterm elections victory set off a chaotic week of AI-trade unwinding and whiplash. Markets appear to be calming somewhat after Wall Street managed to end on a higher note on Friday. Dip buyers may have been encouraged to step back in ahead of a relatively light week for major macro events. Still, it would be too early to say markets are out of the woods - the fragile optimism will be put to the test by more tech earnings this week, including from cloud-computing firm CoreWeave CRWV , which has become a poster child for investor concerns about AI profitability amid massive build-out costs and a heavy debt burden. Applied Materials AMAT and Cisco Systems CSCO are also due to release earnings this week. Nvidia's NVDA launch of a board probe into reports that CEO Jensen Huang was the target of a Chinese intelligence effort could add another layer of volatility to the AI trade's shaky recovery attempt. Beyond AI, Tuesday's US CPI report will also be in focus after the jobs report last week blew past estimates and showed resilient growth in the US labour market. That bolstered the case for the Federal Reserve to hike rates next month, with markets now pricing in an 80% chance of at least a 25-basis-point increase. Oil markets, meanwhile, are offering some relief, with prices calming after US President Donald Trump said on Sunday he was highly unlikely to order fresh attacks on Iran as long as talks to end the conflict continued to make progress. Key developments that could influence markets on Monday: - German trade data for September - Euro zone Sentix index for November - French and German debt auctions

As SpaceX gets cheaper, are India's rockets taking different flight paths. Elon Musk has a plan, Nov. 9 -- the SpaceX founder wants to launch monster rockets, slashing launch costs to a third of the US average of around $3,200 per kg. India is also vying for a larger piece of the space pie, with at least four rockets in the making to capture the demand for private space launchers. However, India's approach is notably different from what the world's largest rocket maker is pushing for. Does this hurt India's space ambitions, or play to its advantage? Mint breaks it down. SpaceX's primary goal is to build ultra-large and reusable rockets which can launch a large number of satellites at one go. The company's aim is to make space launches regular, and make money by increasing the frequency of launches-rather than focusing on the profitability of individual launches. For this, SpaceX is boosting the capacity that its flagship Starship rocket can carry to orbit. At present, the Starship can carry up to 100 tonnes of payload to low-earth orbit, with most forums pegging a per-launch cost upward of $100 million. On straight math, this brings the cost of launching a single satellite aboard SpaceX's rocket down to $1,000 per kilogram. Other factors such as rocket fuel prices, actual payload onboard, and frequency of launches also play important roles here, which can push up the cost per kilogram. The key goal, however, remains targeting mass capacity of launches. India has a diametrically opposite approach, where most new rockets in development have small payload capacities of around 500 kg -less than a percentage of Starship. However, India is playing in a different market. India's private space firms such as Skyroot Aerospace and Agnikul Cosmos, as well as the Indian Space Research Organisation (Isro)'s privatized Small Satellite Launch Vehicle (SSLV) by Hindustan Aeronautics, all believe that with satellites becoming smaller, there will be greater demand for more frequent launches of small rockets that are easier and less expensive to build and launch, rather than a behemoth like Starship. Mint reported in September last year that Skyroot's per-launch rocket cost will be around $4 million-again just a fraction of SpaceX's total cost. But, Skyroot's current rocket, Vikram-I, will likely have a handful of mini-satellites aboard as payload, instead of Starship's mass launch target. Multiple rocket makers are emerging in the US itself to target the small, reusable rocket category. These include Rocket Lab, Relativity and Firefly Space. In India, EtherealX has plans for a reusable rocket, but does not have a functional unit yet. The US and India, however, are the only two major geographies with functioning rockets targeting private satellites at the moment. Russia, since the Ukraine war, has been frozen out of global contractual rocket launches, while China caters to its own missions. France's Arianespace is yet to launch its Ariane 6, while Japan's private rockets have not had full-scale commercial launches beyond test flights, yet. Analysts' biggest question about SpaceX is its growing wait list, and its struggle to turn profitable despite being the world's largest rocket maker. India's answer to this, stakeholders believe, is more strategic-the country expects a rising demand for sensitive small satellites catering to national security in the coming years. To cater to this, India believes that even if its rockets cost 5-6x higher than SpaceX, it can target this strategic sovereign demand to bag a sizeable chunk of satellite launches. The rationale: not all parties might be willing to opt for SpaceX's ride-share model, especially for sensitive satellites, and its years-long waitlist. This gives India a strategic market of rocket launches to target. India maintains, since privatizing space in 2022, that it will capture 8% of the global space market by 2033. Absolutely. Space analysts have highlighted that for rockets to become less expensive and for launch costs to reduce, satellites need to utilize sophisticated technologies such the latest chips and micro-engineering standards to miniaturize as much of its technologies as possible. This, in turn, would mean more satellites carried aboard a rocket per launch, than before. As mini, micro and nano-satellites become more common, small rockets might suddenly become more attractive as they too will be able to carry constellations and multiple payload onboard to various orbits, without having to build expensive, heavy-capacity rockets. However, it is also important to note that this is not the only way forward. Heavy rockets will play a key role in strategically important space missions, such as carrying heavy payload to higher orbits, or in manned space projects. While SpaceX is currently in the clear lead, the global space industry remains in engineering limbo today - stuck between innovation of satellite sizes, and to see if India's idea of launching small rockets in rapid frequencies might just steal the cake.

Taiwan’s Benchmark Stock Market Index Gains 4.9% at the Close

Thai Auto Industry Aims to Reach Annual Production of 1.95 Million Vehicles by 2030

Chinese banks have sharply increased dollar deposit rates in recent weeks, sources say

Chinese dollar deposit rates sometimes exceed 4% and exporters are hoarding cash: sources

Palantir Alumni Launch Plan To ‘Wake Sleeping Giants’ Of European Defence – FT [链接预览] Palantir alumni launch plan to ‘wake sleeping giants’ of European defence

EU Sues IBM And Partners Over Troubled Border System – FT [链接预览] EU sues IBM and partners over troubled border system

ECB Contender Klaas Knot ‘Won’t Hesitate’ To Act In A Debt Crisis – FT [链接预览] ECB contender Klaas Knot ‘won’t hesitate’ to act in a debt crisis

Tesla Exported 59,012 China-Made Vehicles in October: CPCA

China auto industry body CPCA: Tesla Inc exported 59,012 China-made vehicles in October

ASX 200 Ends the Session Up 0.1% at 9,029.70 Points

JAPAN COINCIDENT INDEX: 119.5 (EST 119.4; PREV 118.8)

JAPAN LEADING INDEX SEP P: 116.4 (EST 116.6; PREV 118.0)

Japan Leading Index Sep P: 116.4 (est 116.6; prev 118.0) - Coincident Index: 119.5 (est 119.4; prev 118.8)

BA’s Parent Company Says Rising Green Costs Put Europe’s Aviation Sector at Risk - FT

Stephens Cuts Advanced Drainage Systems’ Price Target to $155 From $175

Nvidia Futures Fall After Board Probes Reports CEO Was Spy Target. By Jiahui Huang Nvidia futures declined as investors assessed the consequences of investigations into Jensen Huang's affair with an industry executive suspected of working for Chinese intelligence. The drop came as Nvidia's board said it is launching a probe into reports that its chief executive has been the target of a foreign espionage effort. U.S. officials last year concluded that Chinese citizen Alice Huang, then a top executive at Megaspeed International, was sharing information with the Chinese government while working with Nvidia to build data centers in Asia, The Wall Street Journal reported earlier. Huang, who also goes by Huang Le, isn't related to the Nvidia CEO. On Sunday, Jensen Huang apologized to his staff for being unfaithful to his wife. The company's board said Sunday that it has no reason to believe either Nvidia's secrets or national security were compromised and expressed confidence in the CEO's leadership. A committee of independent directors helped by outside counsel would oversee the probe, the board said in a statement, and the "inquiry will examine all available information." At a minimum, analysts expect the investigation to spark congressional inquiries and create an overhang on the stock. Jensen Huang will likely continue as CEO without interruption in the near term, analysts at Yorkville Ives said. However, they noted the possibility of him being removed from his role depending on the board investigation. "This will add risk to the stock, as he is so important to the Nvidia story and strategy globally," Dan Ives and others wrote in a note. On a broader level, the matter will increase U.S. scrutiny of the sale of chips to China, which remains a key battleground issue in Washington, the analysts said. Nvidia futures on CME's Globex were recently 4.1% lower at $179.77 on Monday. Nasdaq futures were last 1.1% higher. Shares of the AI chip maker, roughly flat so far this year, are off about 22% from their peak in October. Semiconductor stocks sold off last week as the Democrats' midterm election victory supercharged anxieties over an artificial-intelligence trade that had been building for weeks. Write to Jiahui Huang at jiahui.huang@wsj.com

China Sees Opportunity to Narrow AI Gap Following Democratic Election Gains - FT

Nvidia crisis may hurt China more than it helps. By Robyn Mak Jensen Huang’s affair with an alleged Chinese spy puts a spotlight on governance at the $4.5 trln chipmaker he leads, with fallout for customers from Anthropic to Alibaba. The distraction may help rival Huawei but Beijing has more to lose if Washington tightens export controls. Full view will be published shortly. Follow Robyn Mak on X. CONTEXT NEWS Nvidia's board of directors on November 8 said it is initiating an independent investigation in light of recent media reporting on whether its founder and CEO Jensen Huang has been the target of a foreign intelligence effort. On the same day, Huang apologised for being unfaithful to his wife and said he was committed to winning back the confidence of Nvidia's board, partners and shareholders. The company added that he is committed to continuing to lead Nvidia as CEO without interruption. On November 6, the Financial Times reported that the US believed Huang had a romantic relationship with a Chinese woman who was recruited to spy for China’s Ministry of State Security intelligence agency. American officials this year wrote a memo, based on information from US intelligence, which said the Nvidia boss had been romantically involved with Alice Huang, who was at the time an executive at Megaspeed, a Singapore-based customer, the FT report added, citing people familiar with the document. Alice Huang is not related to Jensen Huang. China’s foreign ministry did not immediately respond to a Reuters request for comment. In late October, the New York Times reported that American officials had concluded Alice Huang was a Chinese intelligence asset and had developed a "close relationship" with Jensen Huang, citing sources. A year earlier, the publication reported that US Commerce Department officials had been investigating Megaspeed for helping Chinese companies sidestep American export restrictions, citing sources. Nvidia's CEO told Bloomberg News last month that his relationship and interactions with Alice Huang were related to Megaspeed and were "completely normal and not unusual".

EU Border Agency Sues Three Contractors — IBM, Atos and Leonardo — Over System Project: FT

European Union Sues IBM and Its Partners Over Delayed Border System: FT

China’s October Passenger Vehicle Sales Drop 27.3% From a Year Earlier to 1.65 Million Units