News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Markets Hurt by Tech Stock Weakness

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Asian stock markets began Thursday on a downbeat note, weighed by stocks of semiconductor manufacturers after that sector was hit by fresh selling in the U.S. overnight.

China November Official Manufacturing PMI Rises to 51.8

An official gauge of China's factory activity rose in November, reflecting resilience in the world's second-largest economy.

Bank of Korea Calls Time on Record Low Rate

South Korea becomes the first major Asian economy to raise its main policy rate since the Fed started increasing U.S. rates two years ago, the latest sign of a global move away from crisis-era stimulus measures.

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Trump to Name Thomas E. Workman to Financial Stability Oversight Council

President Donald Trump plans to name a long-time New York life-insurance executive to fill a slot on the Financial Stability Oversight Council, as his administration continues to reshape regulation of financial firms.

Trump Nominates Goodfriend for Federal Reserve Board Seat

President Donald Trump nominated Marvin Goodfriend a former Federal Reserve economist and current Carnegie Mellon University professor, for a spot on the central bank's board of governors on Wednesday.

Trump Administration Questions Validity of SEC Judges

The Trump administration abandoned its defense of the Securities and Exchange Commission's in-house judicial system, siding with opponents who say the hiring process for the SEC's judges is unconstitutional.

Bitcoin Exchanges Struggle to Handle Record Volume

As bitcoin whipsawed through record highs and sharp plunges, some of the most popular platforms for the digital currency felt the strain from its sharp swings.

Big Tech's Bad Day

The selloff in tech stocks was less surprising than the rally in downtrodden names.

Dutch Central Bank Governor Calls for End to ECB Stimulus

The European Central Bank should phase out its giant bond-buying program from next September or risk damaging economic side-effects such as mis-allocation of credit to "zombie" firms, a top ECB official said on Wednesday.

ECB's Jens Weidmann Seeks Tighter Eurozone Budget Rules

German central-bank President Jens Weidmann called for a tightening of the eurozone's budget rules and an end to the privileged treatment of government bonds, as a means of strengthening the currency area's resilience to financial shocks.

(END) Dow Jones Newswires

November 29, 2017 21:15 ET (02:15 GMT)