top global stories this week: HSBC, Novo Nordisk, Nikon among notable names

Most major stock indexes across the globe ended the week lower after President Donald Trump rattled markets with threats of a “massive” tariff hike [https://seekingalpha.com/news/4503345-trump-threatens-to-pull-out-of-xi-meeting-massive-new-tariffs-on-china] on Chinese goods.

Market gloom deepened as the US government shutdown entered its 10th day, delaying key economic data and fueling uncertainty. Senate efforts to pass funding bills have now failed seven times.

Meanwhile, the new deal [https://seekingalpha.com/news/4501935-amd-surges-25-after-ai-infrastructure-deal-with-openai] between OpenAI (OPENAI [https://seekingalpha.com/symbol/OPENAI]) and Advanced Micro Devices (AMD [https://seekingalpha.com/symbol/AMD]) to roll out AI infrastructure has increased global AI optimism.

For the week, the S&P 500 (SP500 [https://seekingalpha.com/symbol/SP500]) and Nasdaq (COMP:IND [https://seekingalpha.com/symbol/COMP:IND]) are down more than 1%, while the Dow (DJI [https://seekingalpha.com/symbol/DJI]) lost over 2%.

Across the Atlantic, THE EUROPEAN EQUITIES (STOXX [https://seekingalpha.com/symbol/STOXX]) ended the week 1.1% lower.

The euro bounced back above $1.16 after a turbulent week, recovering from a two-month low hit on Thursday.

Meanwhile, political uncertainty in France weighed on sentiment. French President Emmanuel Macron has reappointed Sebastien Lecornu as prime minister, just days after accepting his resignation [https://seekingalpha.com/news/4501893-french-prime-minister-sebastien-lecornu-resigns] amid the collapse of his short-lived government.

ECB officials largely agreed that current policy aligns with the 2% medium-term inflation goal, minutes from the September meeting revealed.

On the data front, Eurozone retail sales inched up [https://seekingalpha.com/news/4501899-euro-area-retail-sales-rise-1-in-august] 0.1% in August, partly offsetting July's decline and matching forecasts. Meanwhile, the construction sector continued to shrink, with the PMI slipping to 46 in September.

The UK Construction PMI rose to a three-month high of 46.2 in September, up from 45.5, but remained below 50, pointing to ongoing contraction.

In the week, London’s FTSE 100 (UKX [https://seekingalpha.com/symbol/UKX]) and France (CAC:IND [https://seekingalpha.com/symbol/CAC:IND]) lost 0.7% and 1.4%, respectively, while Germany (DAX:IND [https://seekingalpha.com/symbol/DAX:IND]) equities fell 0.6%.

MAJOR CORPORATE NEWS FROM EUROPE this week:

* Ferrari (RACE [https://seekingalpha.com/symbol/RACE]) lowered full-year and 2030 guidance [https://seekingalpha.com/news/4502895-ferrari-slides-as-investors-weigh-long-term-guidance-new-ev-plans] and cut EV sales targets.
* Akero Therapeutics (AKRO [https://seekingalpha.com/symbol/AKRO]) has entered into a definitive agreement to be acquired [https://seekingalpha.com/news/4502886-akero-therapeutics-to-be-acquired-by-novo-nordisk-for-up-to-52b] by Danish pharma giant Novo Nordisk (NVO [https://seekingalpha.com/symbol/NVO]) for up to $5.2 billion in cash.
* Shell (SHEL [https://seekingalpha.com/symbol/SHEL]) announced that trading in its gas division is expected to be “significantly higher” in Q3 [https://seekingalpha.com/news/4502201-shell-lifts-q3-lng-output-forecast-sees-stronger-trading-in-gas-division] compared with Q2.
* HSBC (HSBC [https://seekingalpha.com/symbol/HSBC]) plans to privatise [https://seekingalpha.com/news/4502849-hsbc-proposes-136-billion-deal-to-take-hong-kongs-hang-seng-bank-private] Hong Kong's Hang Seng Bank in a deal worth HK$106.1 billion ($13.63 billion).

THE ASIA-PACIFIC MARKETS

The US will impose a tariff of 100% on China [https://seekingalpha.com/news/4503345-trump-threatens-to-pull-out-of-xi-meeting-massive-new-tariffs-on-china], over and above any tariff that they are currently paying, along with export controls on any and all critical software.

100% additional tariffs on goods imported from China precipitated a record sell-off in crypto assets [https://seekingalpha.com/news/4503429] on Friday, triggering more than $19B in liquidations from over 1.6M traders in 24 hours.

Trump accused China of using rare earths to assert market dominance and slammed its new export controls, reigniting fears of US-China trade tensions.

The World Bank raised its 2025 growth forecast for China [https://seekingalpha.com/news/4502212-world-bank-lifts-china-2025-growth-outlook-despite-lingering-headwinds] to 4.8% from an earlier estimate of 4.0%, but warned that momentum is likely to slow in 2026 due to low consumer and business confidence and weak new export orders.

China recorded total spending of CNY 809 billion during the eight-day Golden Week holiday [https://seekingalpha.com/news/4502753].

In the last week, Chinese markets (SHCOMP [https://seekingalpha.com/symbol/SHCOMP]) gained 1.5%, while Japan’s Nikkei 225 (NKY:IND [https://seekingalpha.com/symbol/NKY:IND]) added 1.2%.

Japan's producer prices grew [https://seekingalpha.com/news/4503189-japans-producer-prices-rises-more-than-expected-in-september-to-27] at the same pace in September as the month before, rising more than expected.

Meanwhile, investors continued to weigh the policy outlook in Japan following the election of pro-stimulus candidate Sanae Takaichi as the country’s next prime minister.

MAJOR ASIAN CORPORATE NEWS from this week.

* Oracle (ORCL [https://seekingalpha.com/symbol/ORCL]) and SoftBank (OTCPK:SFTBY [https://seekingalpha.com/symbol/SFTBY]) (OTCPK:SFTBF [https://seekingalpha.com/symbol/SFTBF]) are collaborating [https://seekingalpha.com/news/4502626-oracle-softbank-team-up-to-provide-sovereign-cloud-ai-services-in-japan] to provide secure and scalable sovereign cloud and AI services to organizations in Japan.
* EssilorLuxottica SA (OTCPK:ESLOF [https://seekingalpha.com/symbol/ESLOF]) has increased its stake [https://seekingalpha.com/news/4501876-nikon-jumps-almost-6-as-ray-ban-maker-essilorluxottica-raises-stake] to about 10.6% of Nikon (OTCPK:NINOF [https://seekingalpha.com/symbol/NINOF]).
* HSBC (HSBC [https://seekingalpha.com/symbol/HSBC]) plans to privatise [https://seekingalpha.com/news/4502849-hsbc-proposes-136-billion-deal-to-take-hong-kongs-hang-seng-bank-private] Hong Kong's Hang Seng Bank in a deal worth HK$106.1 billion ($13.63 billion).

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