The Weekly Leaderbaord: Nov 25 to Dec 01, 2024

U.S. Stock Market Reaches Record Highs Amid Economic Optimism

On Black Friday, November 29, 2024, the Dow Jones Industrial Average surged nearly 200 points to close at a record 44,910.65, marking a 0.42% increase. This rise reflects growing investor confidence in the U.S. economy, bolstered by President-elect Donald Trump’s pro-business agenda, including anticipated deregulation and tax cuts. The S&P 500 and Nasdaq Composite also reached all-time highs, with gains of 0.6% and 0.8%, respectively. 

China:  Car Production Market Share Hits 38.4%, Cementing Global Leadership

China’s car production market share has surged to 38.4%, underscoring the country’s growing influence in the global automotive industry. This remarkable growth highlights China’s focus on innovation, particularly in electric and hybrid vehicles, as it continues to dominate international manufacturing and export markets. 

Saudi Arabia:
Approves 2025 Budget with Focus on Economic Diversification

Saudi Arabia’s 2025 state budget forecasts a fiscal deficit of 101 billion riyals ($26.89 billion), driven by investments in megaprojects like NEOM and The Line. These initiatives aim to reduce the kingdom’s dependence on oil revenues, fostering long-term economic transformation. 

Germany:
Volkswagen Faces Worker Walkout Amid Labor Discontent

Volkswagen workers in Germany initiated a strike, signaling unrest within the automotive giant. The labor action reflects broader industry challenges, including cost pressures and workforce demands for better wages and working conditions. 

South Africa:
To Lead G20 Presidency, Prioritizing Climate and AI

South Africa prepares to assume the G20 presidency with a focus on tackling climate change, advancing inclusive economic growth, and promoting artificial intelligence. This leadership comes amid global trade tensions and challenges to food security. 

Singapore:
Stocks Rally Amid U.S. Inflation Data Anticipation 

Singapore’s stock market experienced gains as investors speculated on upcoming U.S. inflation figures and their impact on Federal Reserve policy. The positive sentiment reflects Singapore’s interconnectedness with global financial markets. 

Tajikistan:
Strengthens Renewable Energy Sector through Chinese Partnerships

Tajikistan has secured agreements with Chinese firms to develop its renewable energy infrastructure, enhancing production and export capabilities. This strategic move aims to position the nation as a key player in the regional energy market.