Journalist

Ryu Yuna, Lee Jung-woo, Kim Hee-su, and Joonha Yoo
  • Asian markets open mixed
    Asian markets open mixed SEOUL, December 2 (AJP) - Asian markets opened mixed on Tuesday, with South Korea's benchmark KOSPI up 1 percent at 3,960.75 and the junior KOSDAQ down 0.8 percent at 915.37. Shares of Samsung Electronics rose 0.8 percent to 101,600 won (US$69), and SK hynix gained 2.7 percent to 552,500 won. Among the top 10 companies in terms of market capitalization, all were trading higher except for LG Energy Solution, which edged down 0.2 percent to 412,000 won. Automakers led the gains. Hyundai Motor jumped 4.4 percent to 267,500 won, and Kia added 2.7 percent to 115,300 won. Major U.S. stock indexes closed lower as comments from the Bank of Japan signaling a possible rate hike sparked concerns, weighing on equities. The Dow Jones Industrial Average fell 0.9 percent to 47,289.33, the S&P 500 slipped 0.5 percent to 6,812.63, and the Nasdaq Composite declined 0.4 percent to 23,275.92. Japan's Nikkei 225 climbed 0.4 percent to 49,513.34. In China, the Shanghai Composite Index slipped 0.3 percent to 3,902.83 while Hong Kong's Hang Seng gained 0.7 percent to 26,220.88. 2025-12-02 12:06:25
  • Asian markets mixed as BOJ rate-hike fears hit Tokyo shares
    Asian markets mixed as BOJ rate-hike fears hit Tokyo shares SEOUL, December 01 (AJP) - Asian stock markets closed mixed on Monday, with Japanese shares tumbling on renewed speculation that the Bank of Japan may soon raise interest rates. In Seoul, the benchmark KOSPI slipped 0.2 percent to 3,920.37, while the tech-heavy KOSDAQ rose 1.1 percent to 922.38. Institutional investors offloaded a net 233 billion won ($158 million) worth of shares, outweighing net purchases of 53 billion won by retail investors and 216 billion won by foreigners. The KOSPI opened 1.1 percent higher at 3,967.92 and climbed to 3,977.31 early in the session, but momentum faded after BOJ Governor Kazuo Ueda signaled the possibility of a rate increase. The index fluctuated between gains and losses before ending slightly lower. Large-cap chipmakers were mixed. Samsung Electronics edged up 0.3 percent to 100,800 won ($69), and SK hynix gained 1.5 percent to 538,000 won. Battery maker LG Energy Solution advanced 1.2 percent, while Samsung Biologics rose 2.6 percent. Automakers underperformed: Hyundai Motor fell 2.7 percent to 254,500 won, and Kia dropped 1.6 percent to 112,300 won. Shares of e-commerce giant Coupang, hit by the largest-ever consumer data leak, tumbled in New York pre-market trading, falling about 9 percent to $25.60 as of 3:30 a.m. EST. Japan’s Nikkei 225 dropped 1.9 percent to 49,303.28, pressured by broad declines in major blue chips. Toyota fell 1.6 percent, Sony lost 3.5 percent, SoftBank slipped 1.7 percent, Nintendo dropped 1.6 percent, and Honda slid 2.4 percent. Market expectations for a BOJ policy shift intensified after Ueda said he would “make an appropriate judgment” on a rate hike. The central bank meets on Dec. 18–19. Local media reported that a move from the current 0.5 percent benchmark to 0.75 percent is under consideration. Ueda’s remarks pushed bond yields higher, strengthened the yen and weighed on equity markets. China’s Shanghai Composite Index bucked the regional trend, rising 0.7 percent to 3,914.01. 2025-12-01 17:28:24
  • Coupangs meteoric rise meets its most serious stress test yet
    Coupang's meteoric rise meets its most serious stress test yet SEOUL, December 01 (AJP) - Coupang’s latest data leak has renewed scrutiny of the South Korean e-commerce giant, underscoring concerns that its operational systems have not kept pace with its rapid expansion. The company said on Monday that 33.7 million user accounts were affected — an extraordinary figure showing the breach could have affected nearly the country's entire population. The disclosure comes as Coupang remains under pressure over workplace safety following a string of deaths among night-shift workers at its logistics facilities. On Nov. 26, a man in his 50s was found dead during an overnight shift at a center in Gwangju, Gyeonggi Province. Five days earlier, a worker in his 30s suffered cardiac arrest at a facility in Hwaseong and later died in hospital. They were the third and fourth night-shift fatalities at Coupang this year. Since 2020, at least 27 deaths among the company’s warehouse and delivery workers have been reported by South Korean media. Despite the mounting operational controversies, Coupang has grown into one of the most valuable companies in Asia. The company’s market capitalization reached $51.4 billion as of Monday, far outpacing the $35 billion valuation of Hyundai Motor Group. If listed domestically, Coupang would rank as South Korea’s fourth most valuable firm, behind Samsung Electronics, SK hynix and LG Energy Solution. Coupang reported record third-quarter revenue of 13.6 trillion won ($9.2 billion) in 2025, along with operating profit of 238 billion won. Active customers — defined as those making at least one purchase — rose 10 percent from a year earlier to 24.7 million, driven by increased spending in its core Rocket Delivery service. Founded in 2010 by Korean-American entrepreneur Bom Kim, Coupang began as a social commerce startup selling discounted attraction tickets before pivoting to full e-commerce. The launch of Rocket Delivery in 2014 — backed by massive investments in proprietary logistics centers — reshaped Korea’s retail landscape with next-day and overnight fulfillment. The model initially generated widening losses but delivered exponential growth, helping the company build an 80-percent nationwide coverage footprint and a logistics network spanning 55 million square feet. Rocket Delivery and its offshoots — Dawn Delivery and Rocket Fresh, launched in 2018 — have driven sharp increases in customer loyalty and order volume. Coupang posted its first annual profit in 2023 after 13 consecutive years of losses. Revenue reached an all-time high of 41.3 trillion won ($28.1 billion) in 2024 — more than 86 times its 2013 disclosure of 477.8 billion won. Active customers grew from 14.85 million in 2020 to 22.8 million in 2024. Coupang entered the Fortune 200 in 2023 and 2024 and advanced into the Fortune 150 in 2025 — cementing its status among the world’s largest companies even as it confronts intensifying scrutiny over data security and labor practices. 2025-12-01 17:23:00
  • Asian Culture Calendar
    Asian Culture Calendar SEOUL, November 28 (AJP) - South Korea Dec. 11 – 14 Busan International Children’s Book Fair Dec. 12 – Jan. 4 Seoul Lantern Festival Japan Dec. 6 – 7 Tokyo Whisky Festival Dec. 13 – 14 Ishigaki Island Pottery Festival Dec. 11 – 21 Tokyo Art Book Fair Dec. 1 - 25 Shibuya Christmas Market Dec. 12 - 25 Nagano Christmas Market Dec. 20 - Jan. 31 Okinawa Zoo & Museum Christmas Fantasy Thailand Dec. 1 – 7 Chiang Mai Street Jazz Festival Dec. 5 – 7 808 Festival India Dec. 12 -21 Serendipity Arts Festival 2025-11-28 15:41:04
  • Asian stocks open lower as Wall Street closes for Thanksgiving
    Asian stocks open lower as Wall Street closes for Thanksgiving SEOUL, November 28 (AJP) - South Korea's benchmark KOSPI opened lower on Friday morning, dropping 1 percent to 3,947.53. The decline was driven by foreign investors offloading shares worth a net 260.9 billion Korean won (US$17.8 million), while domestic retail and institutional investors bought a net 258.1 billion won and 9.4 billion won, respectively. But the tech-heavy junior KOSDAQ began the day higher, gaining 3 percent to 906.31 and extending a three-day upward trend. Among blue chips, Samsung Electronics lost 2 percent to 101,400 won ($69) and SK hynix declined 1.5 percent to 536,000 won. Shares of LG Energy Solution dropped 5.4 percent to 414,500 won, while Samsung Biologics shed 1.3 percent to 1.62 million won. Doosan Enerbility slipped 0.8 percent to 77,000 won. HD Hyundai Heavy Industries retreated 2.9 percent, Hanwha Aerospace fell 1.5 percent, and Naver dropped 2.4 percent. By contrast, automakers edged higher. Hyundai Motor rose 0.8 percent to 263,500 won and Kia added 0.3 percent to 114,350 won. Entertainment stocks rose across the board. The country's entertainment behemoth HYBE climbed 1.2 percent to 301,000 won, JYP Entertainment jumped 3.7 percent to 67,600 won, SM Entertainment 3.1 percent to 105,500 won, and YG Entertainment 3.4 percent to 64,300 won. Meanwhile, U.S. markets were closed overnight for the Thanksgiving holiday, with both equity and bond trading shut for the federal observance. In Japan, Tokyo's Nikkei 225 declined 0.2 percent to 50,053.85, about an hour after the day's trading session. Major Japanese companies had a mixed start, with shares of Toyota Motor slipping 0.2 percent to 3,131 yen ($20) and SoftBank Group dropping 1 percent to 16,670 yen. Meanwhile, Honda Motor rose 1.1 percent to 1,575 yen, and Nintendo gained 1 percent to 13,305 yen. In China, Shanghai Composite Index fell 0.4 percent shortly after the open to 3,861.68, while Hong Kong's Hang Seng Index dropped 0.2 percent to 25,882. 2025-11-28 11:46:31
  • School cooks speak up and walk out as Koreas free-lunch system strains livelihoods
    School cooks speak up and walk out as Korea's free-lunch system strains livelihoods SEOUL, November 21 (AJP) - In South Korea, school lunches are free — but the expectations are anything but modest. The national obsession with high-quality meals for students, coupled with strict hygiene standards and demanding palates of children and their parents, has long placed the burden squarely on the shoulders of cafeteria staff. This week, many of them stepped away from the steam-filled kitchens and into the streets. On Friday, about 94,000 members of the National Solidarity Council of School Irregular Workers launched a nationwide strike. The group represents non-teaching staff who keep schools running — cafeteria cooks and assistants, childcare workers, meal distributors, administrative aides. Negotiations with the Education Ministry and 17 provincial and metropolitan education offices have stalled over wages, safety conditions, and benefits. The strike began in Seoul, Incheon, Gangwon, Sejong, and North Chungcheong, and will expand southward over the coming days: Gwangju, Jeolla, and Jeju on Saturday; Gyeonggi, Daejeon, and South Chungcheong on Dec. 4; and the Yeongnam region on Dec. 5. Many traveled for hours in winter weather to join the walkout — even if it meant leaving behind the children they feed daily. None of their long-standing demands — from raising meager base pay to installing basic ventilation systems — have been met. “People think we just serve food,” said Baek Jin-hee, 57, a kitchen worker at Bitgaram Elementary School in Naju, South Jeolla Province. “Some say we are holding children hostage. That hurt deeply. Anyone who has seen how sincerely we feed our kids would never say that.” Baek joined the strike after the local education office backed out of its promise to install ventilation systems following the diagnosis of a Gwangyang cook with lung cancer. Another colleague, aged 49, lost her hand in a kitchen accident last year. “We grind garlic and ginger by hand to make kimchi every day,” she said. “When friends die of lung cancer, it’s terrifying to return to that kitchen.” Progressive teacher unions and 125 civic, labor, and political groups expressed solidarity. The conservative Korean Federation of Teachers’ Associations (KFTA), the country’s largest teachers’ body, condemned the walkout for disrupting school operations and students’ rights. Due to the strike, about 1,000 of the nation’s 3,298 schools couldn’t provide proper meals. Many replaced hot lunches with bread and juice; some after-school care programs — known as Neulbom classes — were suspended. The Education Ministry largely kept its distance. “Since this is a legitimate strike under the Labor Union Act, it is difficult for us to comment,” a ministry official said. “However, even if lawful, it would be best if there were no disruptions to meal services for students.” Below-minimum pay — and carcinogenic fumes According to the Seoul education office, a kitchen worker’s base monthly salary is 2,066,000 won ($1,403) — lower than the legal minimum wage when converted into a standard monthly rate of 2,096,270 won for a 40-hour week. Even with seniority, family, and hazard allowances, an 11-year veteran earns roughly 2.7 million won, and many receive no pay during school holidays. The gap is sharper for roles involving hot oil, boiling trays, and 20–30 kg rice sacks. This year’s base pay for “Type-2 education public employees” — cooks, administrative assistants, office support staff — remains 30,270 won below the minimum wage. Hazard pay is 50,000 won ($34) per month, despite daily exposure to toxic cooking fumes. The World Health Organization classifies cooking fumes as a Group 2A carcinogen. To date, 175 cafeteria workers have had lung cancer recognized as an occupational disease; at least 15 have died. Mixed reactions inside schools On campuses, the mood ranged from resigned to supportive. “Kids actually enjoy eating bread for once. Some bring their own meals — one even brought mala xiangguo,” said a teacher at an elementary school in Bucheon. “Most teachers understand the strike’s purpose and quietly support it.” Working parents face the sharpest inconvenience. A mother in her 40s said, “I’m a working mom. If I have to pack lunch, I need to wake up at dawn before work. It’s exhausting.” Another mother in her 50s said, “It breaks my heart to think about how hungry my boys must be when they can’t eat properly.” Others sympathized with the workers. A father in his 50s said, “My daughter will also become a worker one day. If improving labor conditions means a few days of inconvenience, that’s worth it.” A mother with two high school daughters added, “As a parent, I support them. Eating bread for a few days won’t harm their health.” A growing workforce with shrinking visibility Today, around 180,000 people work in non-teaching education roles — roughly 40 percent of the country’s 450,000 teachers. Job categories have ballooned to more than 80, from sports instructors to childcare aides, yet their struggles often fade from public conversation, overshadowed by debates on teacher rights and educational reform. Their walkout this week forces a closer look at a system that offers free lunches for students — but leaves those who prepare them fighting for a living wage, a ventilated kitchen, and recognition of their role in schools. 2025-11-21 17:41:59
  • Asian stocks tumble across the board
    Asian stocks tumble across the board SEOUL, November 21 (AJP) - All major stock markets in Asia fell more than 2 percent on Friday, with South Korea's benchmark KOSPI plunging nearly 4 percent. In Seoul, the KOSPI fell 3.8 percent to close at 3,853.26, while the junior KOSDAQ slumped 3.1 percent to 863.95. In large-cap stocks, Samsung Electronics plunged 5.8 percent to 94,800 Koren won ($64), and SK hynix dropped 8.8 percent to 521,000 won. Among the top 10 market-cap companies, only Kia gained 0.5 percent, while Samsung Biologics remained suspended from trading. The rest closed lower from the previous session. Foreign investors offloaded a net 2.82 trillion won ($1.9 billion) worth of shares, marking their largest single-day selloff of this year. Market sentiment soured following renewed talk of an artificial intelligence (AI)-driven market bubble. Although Nvidia posted stronger-than-expected earnings overnight, U.S. stocks reversed early gains, with the Philadelphia Semiconductor Index tumbling 4.8 percent. Comments from a senior Federal Reserve official referencing the possibility of an AI bubble further unsettled investors. Japan's Nikkei 225 also fell 2.4 percent to close at 48,625.88. In China, the Shanghai Composite Index fell 2.5 percent to 3,834.89. 2025-11-21 17:07:05
  • Asian market rebounds on Nvidia halo, Kospi recovers 4,000-mark led by chips
    Asian market rebounds on Nvidia halo, Kospi recovers 4,000-mark led by chips SEOUL, November 20 (AJP) - Asian markets rebounded Thursday after Nvidia delivered another set of stunning earnings, muting much of the overheated AI chatter and giving regional stocks their first solid lift this week. In Seoul, the benchmark Kospi advanced 1.9 percent to close at 4,004.85, reclaiming the psychologically important 4,000 mark for the first time in three sessions. The tech-heavy Kosdaq added 2.4 percent, finishing at 891.94. Foreign investors bought a net 560.7 billion won ($381 million) worth of shares, while institutions purchased 967.7 billion won. Retail investors, however, turned heavy sellers, offloading 1.51 trillion won. Analysts said renewed foreign buying — centered on semiconductor names — was the main catalyst behind the rebound. The surge followed Nvidia Corp.’s record-breaking quarterly earnings, which helped dispel concerns of an overheating AI-driven rally. The U.S. chipmaker posted third-quarter revenue of $57 billion and earnings per share of $1.30, beating market estimates of $54.9 billion and $1.25, respectively. Revenue jumped 62 percent from a year earlier. During the earnings call, CEO Jensen Huang underscored rising demand for memory and AI infrastructure, saying the company is preparing “a big year ahead” with memory partners — remarks that further fueled optimism for Korean chipmakers. Shares of Samsung Electronics rose 4.3 percent to 100,600 won ($68.5), while SK hynix gained 1.6 percent to 571,000 won. Most large-cap stocks advanced: LG Energy Solution up 0.8 percent to 441,000 won; HD Hyundai Heavy Industries up 1.6 percent to 583,000 won; and Doosan Enerbility up 4.4 percent to 77,700 won. Automakers lagged the broader rally, with Hyundai Motor slipping 0.8 percent to 262,000 won and Kia retreating 1 percent to 113,400 won. AI infrastructure-related stocks surged across the board. Daewon Cable soared 18 percent to 3,940 won; LS ELECTRIC climbed 6.5 percent to 506,000 won; Gaon Cable rose 6 percent to 70,600 won; Taihan Electric Wire gained 4.8 percent to 24,100 won; and HD Hyundai Electric added 4.1 percent to 815,000 won. Tourism and cosmetics shares also rallied amid growing expectations of a rebound in Chinese visitors, as travel tensions between China and Japan prompt widespread cancellations of trips to Japan and shift demand toward South Korea. Able C&C jumped 16.6 percent to 10,810 won; Lotte Tour Development rose 15 percent to 22,350 won; and resort operator Paradise gained 13.7 percent to 18,400 won. CJ surged 8.3 percent, TonyMoly climbed 7.2 percent, Jin Air rose 6.2 percent, and GKL added 5.9 percent. Entertainment stocks joined the upswing. HYBE rose 3 percent to 296,000 won; JYP Entertainment added 1.8 percent to 67,800 won; SM Entertainment advanced 4.3 percent to 105,700 won; and YG Entertainment climbed 2.3 percent to 62,500 won. Samsung Biologics remains temporarily suspended from trading through Nov. 21 due to its pending corporate split. Elsewhere in Asia, Japan’s Nikkei 225 jumped 2.6 percent to 49,794.33, lifted by the Nvidia halo. SoftBank rose 1.9 percent to 19,180 yen ($122); Toyota edged up 0.2 percent to 3,044 yen; and Sony gained 3 percent to 4,461 yen. In China, the Shanghai Composite Index slipped 0.4 percent to 3,931.05. 2025-11-20 17:29:11
  • Materialist-style exclusive matchmaking flourishes among Gangnams upper class
    "Materialist"-style exclusive matchmaking flourishes among Gangnam's upper class SEOUL, November 19 (AJP) - In the American film "Materialist", New York–based matchmaker Lucy (Dakota Johnson) explains the formula behind a “quality” match that leads to a stable marriage: “similar upbringings, similar levels of education, similar family structures, similar incomes.” That bourgeois logic is now driving a quiet boom in exclusive matchmaking services in Seoul’s wealthiest districts, particularly in Gangnam, where housing prices rank among the world’s highest and social circles grow increasingly stratified. Inside Helio City, a massive complex of 35-story towers in Garak-dong, Songpa District, a two-person matchmaking outfit is suddenly drawing attention. The average three-bedroom apartment here sells for around $2 million. Opened in June, the small business — Helio Marriage Information — has attracted more than 200 members from the seven-year-old residential community of roughly 9,500 households. “Everyone here has good jobs,” said the agency’s CEO. “Most are in their 30s and 40s — doctors, lawyers, many professors. These are people with high standards who don’t want to meet just anyone, which is why they come to us.” The agency remains relatively low-profile, but parents with marriage-age children are already expressing strong interest. “I have a daughter,” said a resident in her 50s. “It’s comforting to meet someone from the same community. This is a well-off area. People have similar backgrounds. There aren’t many introduction services like this.” A woman in her 60s added, “What I like is the sense of trust. As a parent, it’s hard to really know who your child might marry.” Still, not everyone is pleased. “Not everyone here is rich,” said a man in his 50s. “Many live on jeonse or in rental units. Big differences in background can cause friction. I worry it will create invisible rankings within the same complex.” The model of tightly curated matchmaking began earlier at One Bailey, one of Seoul’s most expensive apartment complexes overlooking the Han River in Banpo-dong, Seocho District. As soon as residents began moving in during late 2023, a new platform called One Bailey Nobility appeared. The response was “explosive.” With average units priced around $4 million, many households had marriage-eligible adult children, and demand for highly vetted introductions surged. Now formalized as One Bailey Marriage Club, the organization is recruiting its sixth cohort, with membership ranging from ages 14 to 89 — underscoring how deeply family background, lineage, and long-term vetting matter within wealthy circles. “Exclusivity is guaranteed,” said a 28-year-old member who requested anonymity. “You don’t join just by owning a home here. You need parental approval and must attend meetings with a guardian. It’s strict, but that’s what makes it trustworthy.” She said enthusiasm grew after the club celebrated its 11th engaged couple — both doctors. Membership reportedly costs 200,000 won ($136) to join and 300,000 won ($204) annually. Building on its success, the initiative has expanded to nearby luxury complexes including Raemian Prestige and Acro. What is unfolding in Gangnam echoes the ethos of "Materialist" — a desire to match not just individuals, but entire family profiles. For some, it offers reassurance and cultural compatibility. For others, it signals a sharpening of class boundaries inside Seoul’s most coveted neighborhoods. 2025-11-19 14:05:40
  • Korean stocks kept up buoyance amid broad Asian listlessness
    Korean stocks kept up buoyance amid broad Asian listlessness SEOUL, November 17 (AJP) - South Korean shares climbed nearly 2 percent on Monday, sustaining momentum across otherwise listless Asian markets after Seoul and Washington finalized a bilateral trade deal that opened new business opportunities for shipbuilders, energy infrastructure firms and defense manufacturers. The KOSPI rose 1.9 percent to 4,089.25, while the small-cap KOSDAQ gained 0.5 percent to 902.67. Semiconductor stocks led the advance. Samsung Electronics rose 3.5 percent to 100,600 won ($69), and SK hynix jumped 8.2 percent to 606,000 won as investors welcomed their domestic investment commitments totaling 833 trillion won ($571 billion). Samsung pledged 450 trillion won in spending and 60,000 new hires over five years, while SK confirmed 128 trillion won in domestic investment. The Yongin semiconductor cluster alone may grow to 600 trillion won, with at least 14,000 to 20,000 jobs expected by 2029. Hyundai Motor Group announced 125 trillion won in local investments through 2030 and plans to hire 10,000 workers next year. LG Group laid out a 100 trillion won investment roadmap, while Hanwha said it would spend 11 trillion won in shipbuilding and defense. HD Hyundai and Celltrion plan to invest 15 trillion won and 4 trillion won, respectively. Food stocks also posted strong rallies. Samyang Foods gained 4.9 percent to 1,385,000 won, while Nongshim surged 9.4 percent to 462,000 won. Samyang said its third-quarter operating profit climbed 50 percent on-year to 131 billion won, with sales up 44 percent to 632 billion won on robust exports to the United States and China. IBK Investment & Securities raised its target price to 1.75 million won, and Yuanta Securities set it at 2 million won. Nongshim reported third-quarter revenue of 871.2 billion won, up 2.4 percent, while operating profit rose 44.7 percent to 54.4 billion won, driven by overseas demand. Revenue from foreign subsidiaries increased 14.4 percent to 266.1 billion won, offsetting a slight domestic decline. Analysts noted that references to Nongshim-like snacks and noodles in the new K-pop film K-Pop Demon Hunters further lifted investor sentiment. Brokerages raised their targets across the board: NH Investment & Securities to 560,000 won, Korea Investment & Securities to 600,000 won, Shinhan to 570,000 won, Samsung Securities to 509,000 won and Daishin to 520,000 won. NH analyst Joo Young-hoon highlighted double-digit revenue growth in China, Japan and Australia, adding that improving U.S. sales may support a fourth-quarter rebound. Elsewhere in Asia, the Nikkei 225 slipped 0.1 percent to 50,323.91. Shares tied to tourism and Chinese consumer spending fell sharply as tensions between China and Japan escalated. Shiseido plunged as much as 11 percent intraday, while Pan Pacific International Holdings — operator of Don Quijote stores — dropped nearly 10 percent, according to Bloomberg. Daishin Securities analysts Moon Nam-jung and Moon Gun-woo said Chinese travelers accounted for more than 21 percent of Japan’s foreign tourism spending last year, warning that continued tensions could weigh on sentiment toward Japan’s economy and equity market. Concerns about tariff-driven inflation and fading expectations of a near-term U.S. rate cut also pressured Tokyo shares. As of Sunday U.S. time, CME FedWatch data showed traders pricing in a 55.6 percent chance the Federal Reserve will hold rates steady in December, compared with a 44.4 percent chance of a cut — a sharp shift from last month, when markets assigned a 90 percent probability to a cut. Shanghai’s benchmark index fell 0.5 percent to 3,972.03, while Hong Kong’s Hang Seng Index declined 0.8 percent to 26,354.42. As in Japan, Chinese shares were weighed down by rising friction between Beijing and Tokyo, with analysts adding that the pullback also reflects profit-taking after Chinese stocks gained nearly 20 percent earlier this year. 2025-11-17 17:37:04