CNBC International

Indian equities have been sliding since September, as foreign investors spooked by a slowdown in the country’s economy exit their holdings. Analysts see this as a “healthy correction.” ➡️ India’s benchmark stock indexes the Nifty 50 and Sensex are hovering at more than seven-month lows, firmly in correction territory since their September high. ➡️ Domestic sectors such as real estate, energy and autos have been the biggest decliners, data from Goldman Sachs showed. Read more here: cnb.cx/40SWTzC

Chinese travelers are canceling plans to visit Thailand during the Lunar New Year break, as concerns over the kidnapping of actor Wang Xing continue to reverberate through the country. ➡️ Net booking volume for trips to Thailand fell 15.6% from Jan. 13 to Jan. 20, after news of the rescue of Wang from a scamming compound along the Thai-Myanmar border. ➡️ Some Chinese travelers are also canceling trips to Vietnam and Singapore, which China Trading Desk CEO Subramania Bhatt called “collateral damage.” Read CNBC Travel editor Monica Pitrelli's report here: cnb.cx/3Epx6pO

Dutch semiconductor equipment maker ASML expects new low-cost models like the one rolled out by China’s DeepSeek to lead to more — rather than less — demand for AI chips, CEO Christophe Fouquet told CNBC Wednesday. ➡️ Without addressing the specifics of DeepSeek AI’s newly revealed R1 model, ASML CEO Christophe Fouquet told CNBC he sees no sign of a slowdown in demand for AI-focused chips. ➡️ While acknowledging there is “a lot of discussion” surrounding DeepSeek, the ASML CEO said his company hasn’t heard from customers asking about the impact the Chinese firm’s model will have on chip demand. Read Ryan Browne's report here: cnb.cx/4hqWDxg

Dutch semiconductor giant ASML on Wednesday reported a big jump in fourth-quarter net bookings, suggesting strong demand for its advanced chipmaking tools even as DeepSeek’s low-cost model raises concerns over AI spending. ➡️ The semiconductor equipment maker said that its 2025 full-year sales outlook remains unchanged from its previous guidance of between 30 billion and 35 billion euros of total revenue. ➡️ CNBC’s Arjun Kharpal spoke to ASML CEO Christophe Fouquet at the company's headquarters in Veldhoven, Netherlands. Read more here: cnb.cx/40SjSed

The German government on Wednesday slashed its gross domestic product forecast to just 0.3% growth in 2025. ➡️ This is down from a previous forecast of 1.1% growth, but broadly in line with estimates from bodies like the International Monetary Fund. ➡️ “The diagnosis is serious,” Robert Habeck, economy and climate minister, said during a press conference, according to a CNBC translation. He noted that, while there are some positive developments such as rising demand for credit, “Germany is stuck in stagnation.” Read Sophie Kiderlin's report here: cnb.cx/4aESTG0

U.K. Finance Minister Rt Hon Rachel Reeves on Wednesday unveiled plans to deliver a shot in the arm for the country’s ailing economy, signaling she backs the long-delayed expansion of one of the world’s busiest airports. ➡️ In a major growth speech in Oxfordshire, Reeves said that a third runway at London’s Heathrow Airport was “badly needed,” adding it would boost investment, support economic expansion and could create as many as 100,000 jobs. ➡️ The ruling center-left The Labour Party has repeatedly pledged to prioritize economic growth, with Reeves last week telling reporters at the World Economic Forum in Davos, Switzerland, that this mission is more important to the government than its net-zero emissions target. Read more here: cnb.cx/40HKMEq

Olympic gold medalist Tom Daley tapped into the age-old strategy of mindfulness to help him overcome the pressure of performing at the world's biggest sporting event. ➡️ When Daley won his first gold at Tokyo 2020, images of him knitting poolside circulated the globe, with his dedicated knitting Instagram account, @madewithlovebytomdaley gaining a million followers overnight. ➡️ Speaking with CNBC’s Tania Bryer OBE on the sidelines of the World Economic Forum in Davos, Daley added that his “passion is to be able to bring craft as a form of mindfulness to as many people as possible.” Watch the full interview here: https://lnkd.in/dSiJnKDX

Norway’s sovereign wealth fund, the largest of its kind in the world, posted full-year profit of 2.5 trillion kroner ($222.4 billion) on Wednesday, fueled by a tech rally. ➡️ Its return on investment came in at 13% for the year, 45 basis points lower than the return on the fund’s benchmark index. ➡️ Speaking at a press conference, Norges Bank Investment Management (NBIM) Deputy CEO Trond Grande described a “very, very strong year for equities” as the biggest driver of the fund’s return in 2024. Read more here: https://cnb.cx/3CwoZat

The world’s largest luxury company LVMH on Tuesday reported better-than-expected full-year sales, in the strongest sign yet of a potential turnaround in the high-end sector. ➡️ The owner of brands including Louis Vuitton, Moët & Chandon and Hennessy posted revenues of 84.68 billion euros ($88.27 billion) for 2024, versus the 84.38 billion euros forecast by LSEG analysts. ➡️ The French luxury goods giant is seen as a bellwether for the wider luxury industry, which has faced significant pressure over recent years amid declining China sales and broader macroeconomic headwinds. Read more here: cnb.cx/4gcUd49

HSBC is preparing to wind down its M&A and equity capital markets businesses in Europe, the U.K. and the U.S. amid a broader overhaul of its investment banking operations. ➡️ “As part of our ongoing efforts to simplify HSBC and increase leadership in our areas of strength, we are finalising a review of our Investment Banking business,” a spokesperson said Tuesday. ➡️ The news comes as HSBC CEO Georges Elhedery, who stepped into the leadership role last year, embarks the lender on a broader overhaul targeting cost-cutting efforts. Read more here: cnb.cx/4hzcCt3