[USA]

🔸 Despite early weakness, U.S. tech stocks lifted the market

Wall Street stocks shook off early weakness on Monday (December 23) and moved higher, driven by gains in Nvidia and other major tech stocks. Earlier, the market had been under pressure due to concerns that rising U.S. Treasury yields would dampen year-end gains, despite this being historically a strong period for stocks. The market declined last week after the Federal Reserve signaled smaller-than-expected rate cuts in 2025. $FL2CSOPNASDAQ(07266.HK)

🔸$Apple(AAPL.US) Valuation nears $4 trillion as investors bet on AI momentum

Apple's market valuation is approaching a historic $4 trillion, buoyed by investor enthusiasm for the company's long-awaited AI enhancements, which aim to revive sluggish iPhone sales. Apple leads Nvidia and Microsoft in the race to this milestone, thanks to a roughly 16% stock price increase since early November, adding about $500 billion to its market cap. $CSOP MAG7(03454.HK)

[Asia-Pacific]

🔸 Chinese investors set record for Hong Kong stock purchases via Stock Connect

Mainland Chinese investors bought a record amount of Hong Kong stocks as they increased exposure to Hong Kong risk assets amid a weak yuan. According to Bloomberg data, as of December 20, Shanghai and Shenzhen traders purchased HKD 778 billion worth of Hong Kong stocks this year—the highest annual amount since the Stock Connect program launched in 2016. Alibaba Group Holding, Bank of China, and China Mobile were among the most heavily bought stocks. Onshore investors raised their share of Hong Kong trading to a record 45% in Q4 as Beijing's stimulus measures boosted benchmarks. Other factors driving unprecedented southbound buying include yuan weakness, fueling interest in dollar-denominated assets. $XL2CSOPHSTECH(07226.HK)

🔸 Nikkei reports$Toyota Motor Corp.(7203.JP) to build EV plant in China

Toyota Motor has decided to build a new plant in China to produce electric vehicles, Nikkei Business Daily reported Monday. Citing multiple sources, Nikkei said the company will manufacture its luxury Lexus brand at the new Shanghai facility. Toyota previously operated in China through joint ventures with local manufacturers but will independently manage this new plant. $FI2 CSOP NIKKEI(07515.HK)

🔸$Honda Motor Co., Ltd.(7267.JP) and$Nissan Motor Co., Ltd.(7201.JP) plan merger under single holding company by mid-2026

Japanese automakers Honda Motor and Nissan Motor announced Monday they plan to form a joint holding company by August 2026 to accelerate electrification and software integration, maintaining global competitiveness. The two companies signed a memorandum of understanding the same day to begin discussions on business integration under a new holding company. Honda and Nissan aim to finalize the agreement by June 2025.

[Saudi Arabia]

🔸 Saudi banks report strong non-interest income growth, profits up 24%

Saudi banks' total profits reached SAR 7.7 billion ($2.05 billion) in October, up 23.67% year-on-year, according to the latest data. The Saudi Central Bank (SAMA) noted these figures represent pre-zakat and tax profits. Cumulative profits from January to end-October stood at SAR 73.28 billion, compared to SAR 64.47 billion in the same period last year. $CSOP SAUDI(02830.HK)

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