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Latest: Asia Stock Market News

Hope for Early Deal on Climate Damage Fund as COP28 Opens
Hope for Early Deal on Climate Damage Fund as COP28 Opens

Organisers are keen to generate goodwill before talks on the future of fossil fuels; fund would help poor nations cope with the cost of climate damage from drought, floods and rising seas

US Treasury Seen Limiting Chinese Role in EV Market – WSJ
US Treasury Seen Limiting Chinese Role in EV Market – WSJ

The US Treasury is expected to block an EV tax subsidy for buyers of cars containing batteries, components or minerals made by state-owned Chinese companies

Nikkei Lifted by Rates Hopes, Hang Seng Up Despite China Data
Nikkei Lifted by Rates Hopes, Hang Seng Up Despite China Data

Stock indexes across the region were set for their best month since January with rising optimism the US Fed was done with tightening

Work on New Coal Plants Raises Doubt on China’s Climate Vows
China ETFs Rake in Highest Ever Annual Inflows
China Seen Installing 230 GW of Solar & Wind Power in 2023 – PV
Huawei’s State-Backed Smart Car Firm Set For $35bn Valuation
Summit Leader ‘Using COP28 to Promote Fossil Fuels’ – NYT
Hang Seng Drops on Tech, Earnings; Banking Weighs on Nikkei
China’s Debt-laden Provinces Raise $21bn to Save Small Banks

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Markets: The Big Picture

ASML in the Centre of the Chip War

With a market cap of$240 billion, chipmaker ASML is Europe’s most valuable tech company. Its market-leading position comes from its monopoly in Extreme Ultraviolet Lithography (EUV) machines which allow chipmakers to make smaller, faster and smarter semiconductors