What to Watch in the Week Ahead and on Monday, November 24

The week ahead features key economic data releases across the U.S., Mexico, Canada, and Latin America. Highlights include the U.S. manufacturing index, retail sales, PPI, consumer confidence, and durable goods orders. Mexico's inflation data, Canada's GDP and current account balance, and Brazil's economic indicators are also expected. Corporate earnings reports from Dell, Deere, Kohl's, Best Buy, and Alibaba are anticipated, with focus on AI, consumer spending, and tariff impacts.

French gaming company Ubisoft: Tencent Holdings completed a €1.16 billion investment in Vantage Studios. Tencent holds a 26.32% economic interest in it

Tencent Takes Minority Stake in Ubisoft's Vantage Studios

Tencent has acquired a minority stake in Ubisoft's Vantage Studios, with customary minority protection rights. The agreement includes a five-year lock-up on Tencent’s securities unless Ubisoft loses majority control. Ubisoft retains majority control for at least two years. The deal includes share transfer provisions and aims to enhance collaboration between the companies, supporting Ubisoft’s franchise growth.

Tesla Rival Xiaomi Sets Production Records as Chinese Challenge Accelerates

Xiaomi, a Chinese EV maker, celebrated its 500,000th vehicle production milestone in just over 19 months, a record for new energy vehicle makers. Despite this, Xiaomi's shares fell over 4%. The achievement highlights Xiaomi's rapid production scaling and growing market presence, posing a challenge to U.S. rivals like Tesla. Xiaomi plans to boost production and enhance AI integration in manufacturing. In Q3, Xiaomi Auto delivered 108,796 vehicles, up from previous quarters.

Net outflow of HKD 5.143 billion from the Hong Kong Stock Connect Yingfu Fund

The Hong Kong Stock Connect saw a net outflow of HKD 5.143 billion from the Tracker Fund, while the northbound capital inflow into Tencent, Xiaomi Corporation, and Alibaba reached HKD 1.736 billion, HKD 1.268 billion, and HKD 1.158 billion, respectively. The highest net capital inflow among active stocks in the Hong Kong Stock Connect (Shanghai) and Hong Kong Stock Connect (Shenzhen) was Tencent, while the stock with the highest net outflow was the Tracker Fund. The total net outflow for the day was HKD 0, with a total transaction volume of HKD 118.147 billion, accounting for 41.35% of the total market transaction volume