On November 6, 2024, the Tokyo stock market experienced a significant rise, with the Nikkei 225 index closing at 39,480.67, up 1,005.77 points. The surge was prompted by reports of Republican candidate Donald Trump leading in the U.S. presidential election, which contributed to a favorable trading environment. The weakening of the yen against the dollar also boosted bank stocks, while semiconductor-related shares gained traction following positive trends in the U.S. stock market.
In the United Kingdom, rising government borrowing costs have erased the fiscal headroom for Chancellor of the Exchequer Rachel Reeves, raising concerns over potential tax increases or spending cuts. A recent report indicated that a 0.3 percentage point increase in borrowing costs has eliminated the £9.9 billion ($12.9 billion) of leeway against Reeves' fiscal rule that mandates day-to-day spending must be financed through tax revenues.
JPMorgan Chase & Co. has voiced concerns regarding inaction following a summit aimed at increasing private investment in biodiversity protection. The bank announced plans to enhance its offerings for clients interested in biodiversity-related risks and opportunities, emphasizing that only financially viable products will be developed moving forward.