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US stock futures plunged as Trump threatened escalating tariffs on Europe over the Greenland dispute. Dow Jones -1.66%, S&P 500 -1.79%, Nasdaq 100 -2.23%, Russell 2000 -2.17%. Important numbers: 10-year Treasury bond at 4.28%, 2-year bond at 3.57%. SPY down 1.40% to $682.01, QQQ down 1.67% to $610.68. BHP down 1.65% despite production guidance lift. Alibaba dropped 2.35%. Fed likely to keep rates unchanged in January.

U.S. stock futures fell sharply following President Trump's tariff threats against Europe regarding the Greenland dispute. The Dow Jones dropped 1.66%, S&P 500 by 1.79%, and Nasdaq 100 by 2.23%. The 10-year Treasury bond yield was at 4.28%, while the two-year bond was at 3.57%. The Fed is expected to keep interest rates unchanged in January. Notable declines included BHP down 1.65% despite production guidance increase, and Alibaba down 2.35% due to competition concerns.

"Ping Tou Ge" to be listed separately? JP Morgan: Surprised by the "timing of the report," valuation may account for 6-14% of Alibaba's market value

JP Morgan estimates that the potential valuation of "Pingtouge" is between 25 billion to 62 billion USD, but emphasizes that this is only a rough benchmark calculation. Analysts believe that in the absence of key information such as financial data and external customers, the current market should focus on the actual monetization capabilities of Alibaba Cloud and AI business, rather than the "value release" narrative

The MSCI Emerging Markets Stock Index rose 0.4%, reaching a record high and marking its fifth consecutive trading day of gains, the longest streak since May 2025. Asian tech stocks such as Alibaba, Taiwan Semiconductor, and MediaTek Inc. performed notably well. Year-to-date in 2025, the index has accumulated an increase of approximately 7.0%, while the S&P 500 has only risen about 1%. Latin American stock markets also saw gains, with the regional index up about 1.3%, accumulating nearly 14% this year. The MSCI Emerging Markets Latin America Stock Index reached a closing high not seen since 2018, and Brazil's benchmark stock index rose about 8.7% this week

The NASDAQ Golden Dragon China Index preliminarily closed down 0.2%, with a cumulative increase of 2.1% this week. The performance of popular Chinese concept stocks varied, with XPeng down 3.3%, Nio, WERIDE, and Alibaba down over 2%, while Li Auto, PDD, and Tencent rose by no more than 0.5%. Meituan, Xiaomai, and New Oriental rose by no more than 2%. In terms of ETFs, ASHR fell 0.1%, KWEB remained flat, and CQQQ rose 0.8%

Alibaba Is Prepping for an AI Chip IPO. Does That Make BABA Stock a Buy Here?

Alibaba Is Prepping for an AI Chip IPO. Does That Make BABA Stock a Buy Here?