US

The US stock market was closed on Thursday for Thanksgiving Day and will be closed for half-day on Friday. Over the past 5 days ending Wednesday, the three main equity indexes were up 1.47% to 2.48%. As for election matters, GSA Director Emily Murphy wrote to President-elect Biden, stating that the agency is ready to begin the formal transition process, but Trump has yet to admit defeat. It was reported that Biden will nominate former Fed Chair Janet Yellen to be the new Treasury Secretary, which may hint at a more aggressive fiscal stimulus package in the future with her dovish track record, pushing the US stock indexes to new highs. However, the COVID epidemic has yet to show any signs of slowing down, with over 60 million cases worldwide since the start of the outbreak, cases in Germany has also exceeded the one million mark. In other news, Bitcoin fell on Thursday, alongside other cryptocurrencies, and the market is watching its future trend closely. Next week, the US will be releasing job market reports and the Economic Beige Book.

EUROPE

European stock markets continued to rise on a positive global investment sentiment, the UK, French, and German equity indexes were up 0.18% to 1.29% over the past 5 days ending Thursday. The minutes of the October European Central Bank (ECB) meeting revealed that members agreed that there is a need to revisit monetary policy tools in December. In addition, ECB's chief economist also noted that there are signs of a liquidity crunch in the Eurozone. As for the UK-EU trade talks, it was reported that both sides are ready to resume face-to-face negotiations again, and the Pound continues to strengthen against the Dollar. Next week, the Eurozone will release its November Consumer Price Index and the October unemployment rate.

CHINA

Stock markets in China and Hong Kong had a fair performance this week, the CSI 300 Index was up 0.76% and the Hang Seng Index rose 1.68% for the week. Chinese economic data was favourable, with industrial profits rising 28.8% YoY in October, the largest increase in 9 years. The PBoC released its Q3 Monetary Policy Implementation Report, stating that it will implement a normal monetary policy as long as it can. In addition, Hong Kong's stock market also reacted positively following the government's policy address, with the Hang Seng Index recording a weekly gain. Next week, China will release the official manufacturing PMI and the Caixin Manufacturing PMI for November.