China
Last week, Chinese stock markets fell, following losses on Wall Street, as concerns over overvalued AI-focused stocks weighed on investor sentiment. The CSI 300 Index dropped 3.77%, the Shanghai Composite fell 3.90%, and Hong Kong’s Hang Seng Index declined 5.09%. This marked the second consecutive week of declines for the CSI 300, which had reached a nearly four-year high earlier in November amid optimism about the tech sector. No major economic indicators were released, but the government is reportedly considering measures to support the struggling property market, including mortgage subsidies for first-time buyers, higher income tax rebates, and reduced home transaction costs. The housing market slump, now in its fourth year, worsened in the third quarter, with new and existing home prices falling at the fastest pace in over a year. The property downturn remains a key drag on growth, fueling deflationary pressures and raising concerns about the impact on banks’ asset quality, with further weakness expected in 2026. Overall, investor sentiment remains fragile, as markets weigh the challenges in the property sector against potential policy support and the broader outlook for China’s technology and economic recovery.

India
Last week, Indian equity markets ended on a modestly positive note, with the Nifty 50 rising 0.73%, though the week saw high volatility and a sharp pullback on Friday due to mixed global cues, domestic developments such as the Bihar election results, and profit booking. Broader market indices underperformed, with the Midcap and Smallcap indices falling 0.77% and 1.92%, respectively, while the India VIX surged 12%, reflecting elevated market uncertainty. The Nifty 50 was supported by strong earnings from select companies, but better-than-expected U.S. employment data dampened hopes of a near-term rate cut. The Indian rupee weakened to a new low of 89.41 against the U.S. dollar amid fading Fed rate cut expectations and uncertainty over the India–U.S. trade deal, contributing to continued selling pressure. Sector-wise, cyclical areas lagged, with metals (-4.21%) and realty (-3.85%) among the weakest, while energy, defence, and pharma also drifted lower. On the upside, IT showed resilience (+0.56%), supported by global demand, and gains were seen in consumption (+1.16%), banking (+0.83%), and financial services (+0.62%).

MENA
Last week, MENA markets showed signs of resilience as liquidity and deal activity remained robust across the region. Equity related issuances totalled about US$10.4 billion during the first nine months of 2025 — down in proceeds compared with last year, but the number of transactions rose 12% year on-year, suggesting steady investor activity despite global uncertainty. Meanwhile, mergers & acquisitions across the region have surged: the first half of 2025 saw roughly 500 deals valued at about US$69.1 billion, with a notable rise in cross border transactions, especially from the UAE and Saudi Arabia. On the debt front, the largest economy in the Gulf continued issuing sukuk — for example, one recent issuance raised SR 5.83 billion — reflecting ongoing domestic debt market activity. Though macroeconomic headwinds and global market volatility remain, the pace of deal making and capital market activity suggest investors are cautiously confident about opportunities in the region.