The Nasdaq Exchange is proposing a Fast Entry rule to allow newly listed large companies to be added to the Nasdaq 100 as quickly as 15 trading days after filing, bypassing the current three-month seasoning period and annual rebalances. The change aims to improve index representativeness and liquidity, particularly as AI-driven IPOs, including potential SpaceX and Anthropic listings, seek rapid inclusion.

Under the proposal, companies that list on Nasdaq and have a market cap in the top 40 will qualify for expedited inclusion with at least five trading days’ notice. The rule is under public comment and expected to take effect after the March 2026 index adjustment.

The Nasdaq 100 is a key benchmark for over $600 billion in ETFs and tracks major tech and growth stocks, including GOOGL and NVDA.

Baidu Inc. (BIDU) announced a three-year stock buyback program of up to $5 billion and plans its first dividend, signaling a shift to reward investors as the AI-driven rally begins to wane. The company expects to declare the first dividend this year, and is scheduled to report earnings on February 29, 2026.

The filing shows the firm is aligning with peers like Alibaba (BABA) and Tencent (0700) in boosting shareholder returns. Baidu, a pioneer in AI search, is down about 14% from a 2026 high and roughly half from a March 2021 peak, with its shares up as much as 2.4% on Thursday before trimming gains, outperforming the Hang Seng Tech Index’s more than 1% drop.

The move follows a broader trend in Hong Kong-listed Chinese companies to shore up investor confidence through share buybacks and higher dividends, including Xiaomi (0911), Pop Mart (0002), and Geely (0175). The company also plans to offer billions in credits to drive usage of its large-language model-based services during the Lunar New Year.

Taiwan Semiconductor Manufacturing Company (TSMC 6770-TW) released its FY2025 Q4 results, reporting a net loss of TWD 6.54 billion, or TWD 0.16 per share, compared to TWD 27.28 billion, or TWD 1.12 per share, in the prior quarter. The improvement followed pricing gains in DRAM and favorable exchange rates, along with a net gain of TWD 4.9 billion from its collaboration with Tata Electronics in India.

Management forecasts pricing increases in Q1 2026 as memory price gaps persist, and a joint venture with Micron (MU) is advancing. Under the agreement, TSMC expects a TWD 18 billion contribution to reduce debt and maintain its high-bandwidth memory (HBM) backend capabilities for Micron. Micron's contribution to TSMC's results is not expected until 2027.

TSMC's internal target is for the AI 3D Foundry segment to contribute 20% of revenue by 2029.

HanmiPharm (HNMI) reported Q4 operating profit of HKD 1.2 billion, up 12% from HKD 1.07 billion in the same period of 2025, according to the company's earnings release dated February 5, 2026. The increase followed strong sales growth in its generics and branded pharmaceuticals segments, with revenue rising 8% year-over-year to HKD 4.1 billion. Management attributed the improvement to higher volumes and pricing in key markets, as well as cost optimization initiatives. The stock closed at HKD 48.20 on February 4, 2026, up 2.1% for the session.

Nippon Steel & Sumitomo Metal Industries Ltd. (7203.T) reported a loss for the 9 months ended February 3, 2026, as yen weakness and lower steel prices eroded margins. The loss widened to 14.6 billion yen from 12.8 billion yen for the same period in 2025. Revenues rose to 1.04 trillion yen for the nine months, up 3.5% year-over-year. The company updated its FY25 outlook to a loss, citing continued pressure from input costs and demand weakness, but maintained its guidance for revenue of 4.7 trillion yen for fiscal 2025.

Formosa Plastics Group's (3711-TW) subsidiary, Formosa Semiconductor, announced at its earnings call on February 5, 2026, that full-year capital expenditures will reach $70 billion, a 15% increase from $61.5 billion in 2025, to support AI growth.

Senior management attributed the boost to expanding capacity in AI inference and large model training, with full automation expected to enter volume production by year-end for 310x310 panel-level packaging. The company will also prepare for 620x620 packaging depending on量产规模, technical needs, and I/O requirements.

Last year's investments totaled $34 billion in equipment and $21 billion in fabs, with factory spending expected to remain stable while equipment spending rises to $39 billion in 2026.

Coupang confirmed the breach of personal data for an additional 165,000 South Korean users, according to Yonhap. This follows the ongoing government investigation into a去年 data leak affecting over 33 million of its customers.

Bitcoin approached and briefly tested the $70,000 level on February 5, 2026, as the digital asset slid 3.5% in Asian trade to $70,052.38, its lowest since November 2024. Early European trade saw it down 2%. Ether fell 0.7% to $2,111.34; a drop below $2,000 would mark its first such breach since May 2025.

The rapid decline followed expectations of a smaller Federal Reserve balance sheet under the upcoming chair, Kevin Warsh. Bitcoin is down 7% for the week and about 20% year-to-date; ether is off roughly 30% this year.

Deutsche Bank analysts noted outflows from U.S. spot bitcoin ETFs exceeding $3 billion in January, continuing a monthly drain since October 2025, signaling waning institutional interest and growing bearish sentiment.

Wedding venues warn that Labour’s business rate hikes could devastate rural event business, with average rates set to rise 78% over the next three years, according to Bridebook. The top 10% of venues face increases exceeding £53,000. Adding to this, energy and food costs have driven prices up 24% in recent years.

Mark Henriques of Cripps & Co said business rates will rise from about £130 to £530 per wedding, with National Insurance up £300,000 and the National Minimum Wage adding £500,000, plus £200,000 in additional rates relief. These pressures are expected to be passed on to consumers, squeezing a sector already grappling with pub and venue support discounts.

Rachel Reeves’ policies include a 15% business rates discount for pubs and live music venues with frozen bills for two years, while other hospitality businesses seek similar relief. Gavin Lane of the Country Land and Business Association warned the burden could drive couples overseas, harming rural tourism and local growth.

In its earnings call on February 5, 2026, Unichip (UMC) (3711-TW, US:AXP) reported stronger visibility in advanced packaging and testing orders,上调 its full-year advanced wafer testing contribution to $3.2 billion, up from $1.6 billion and above its prior estimate of $2.6 billion, reflecting robust supply-demand imbalance.

For the first quarter under a 1 USD = NT$31.4 exchange rate assumption, the company预计 revenue to decline 5%-7%,毛利率 to fall 0.5-1 percentage points, and profit margin to decline 1-1.5 percentage points. Advanced testing revenue is forecast to decline low-single digits to mid-single digits due to fewer workdays and higher labor costs from Lunar New Year overtime; EMS revenue and gross margin are expected to remain near同期 levels.

Looking ahead, management expects growth to continue through 2026 and beyond, driven by expanded advanced solutions and复苏 in the semiconductor industry from AI adoption and broader market recovery. Within advanced testing, OS and wafer testing are advancing; Full Process is on schedule with multiple clients,预计 to contribute significantly in 2026, growing threefold over 2025 and reaching 10% of the LEAP segment by year-end. End Test (FT) also contributed meaningfully, accounting for about 10% of testing revenue. General testing remains growth-rate comparable to last year, with the overall testing segment outperforming the broader logic semiconductor market.

Nikon Inc. (6010) reported a net loss of $169 million for the nine months ended December 31, 2025, missing analyst estimates of a $30 million loss. The decline followed weakness in imaging solutions and a drop in demand for cameras and lenses, partially offset by gains in AI and machine vision software. Revenue for the period fell 12.3% year-over-year to $1.94 billion. The company cited supply chain disruptions and shifting demand toward lower-margin products as key factors. Shares of Nikon closed at ¥3,450, down 2.1% on February 5, 2026.

Mitsubishi Motors (MTS) reported a net loss of ¥3.1 billion for the nine months ended December 31, 2025, due to soft global auto demand and supply chain disruptions. The company revised its full-year 2025 profit outlook to a maintained view of breakeven or slightly positive, up from a previous loss guidance. Sales for the year-to-date rose 2.1% to ¥1.25 trillion, with the North America and Europe divisions posting gains. Management attributed the improvement to strong vehicle launches and a revised sales forecast reflecting higher-than-expected unit sales.

The UK government will collaborate with Microsoft, academics, and experts to establish a deepfake detection evaluation framework, aiming to set consistent standards for assessing detection tools and technologies. This follows a rise in AI-generated content, with an estimated 8 million deepfakes shared in 2025, up from 500,000 in 2023. The framework will test detection methods against real-world harms including sexual exploitation, fraud, and impersonation, and help establish clear industry expectations. The initiative responds globally to growing regulatory and law enforcement interest in countering deceptive AI content.

Old Dominion Freight Line (NASDAQ:ODFL) reported Q4 CY2025 revenue of $1.31 billion, down 5.7% year-on-year, and non-GAAP profit of $1.09 per share, 2.8% above consensus.

Management credited disciplined cost management and continued investment in service and network capacity for maintaining direct operating costs despite reduced network density and industry headwinds. CEO Marty Freeman and CFO Adam Satterfield highlighted cautious optimism for a demand recovery in the LTL sector, citing early improvements in weight per shipment and positive ISM signals, though they emphasized a measured approach.

Looking ahead, the company’s guidance is shaped by network leverage and cost containment as key drivers of future revenue and margin trends. Key watchpoints include the sustainability of freight volume and weight per shipment improvements, the pace of operating ratio gains as demand recovers, and the impact of employee benefits and equipment inflation on margins.

ODFL closed at $209.53, up from $189.77 prior to earnings.

Eurozone annual inflation in January fell to 1.7%, the lowest since September 2024, with core inflation at 2.2% and monthly price declines reaching 0.5%, the steepest since November 2023. Germany (2.1%), Italy (1.0%), and France (0.4%) posted subdued readings, while Slovakia recorded 4.2%.

Economists see the easing driven by weak demand and a strong euro, with import price support offset by reduced export competitiveness. With inflation near target and growth subdued, the ECB is expected to keep policy unchanged at its first 2026 meeting on February 07 (next Tuesday), citing conditions consistent with staff projections.

Markets reacted modestly: the euro remained near 1.18 vs the dollar, German Bund yields held at 2.88%, and Euro STOXX 50 gained 0.3% as equities rose slightly.

CSW (C&W) reported Q4 revenue and non-GAAP EPS below estimates, sending its shares to $274.18 from $299.96 as of February 5, 2026. Management cited elevated acquisition-related costs, higher interest expenses from debt-fueled buyouts, and margin compression from integrating new businesses as primary reasons. CEO Joseph Armes and CFO James Perry highlighted gross margin compression and continued destocking in Contractor Solutions, with organic growth pressured in residential HVACR.

Analysts are closely watching: the pace of synergy-driven margin recovery from recent acquisitions; stabilization and growth in Contractor Solutions and SRM; effectiveness of restructuring in Specialized Reliability Solutions; progress in shifting manufacturing out of China; and responses to commodity price changes.

Uber (UBER-US) reports Q4 Gross Bookings of $541.4B, with 150B trips and 200M active users, reflecting continued growth in order volume and frequency. GMV expanded 20%+ year-over-year for a fifth consecutive year. However, adjusted EPS for Q4 was $0.71, and Q1 guidance of $520–$535B GMV (vs. consensus $511.6B) contrasts with EPS guidance of $0.65–$0.72, below consensus $0.76. The company is intentionally broadening lower-price ride options to boost trips, compressing per-trip margins, and expects an effective tax rate of 22–25% in 2026, pressuring net results.

To offset these pressures, Uber is accelerating Robotaxi deployment, emphasizing full utilization across peak and off-peak hours through multi-scalar dispatch to serve ride, delivery, and freight. The strategy leverages partnerships with Waymo, NVIDIA, and Waabi, with Waabi committing 25,000 units to be prioritized on the Uber platform. AV investment is expected to increase CAPEX, volatility, and near-term cash flow uncertainty, with success hinging on achieving high vehicle utilization and a sustainable economic model.

Oil fell for the first time in three days as anticipation built for Friday’s US-Iran negotiations in Oman, reducing the immediate risk of military action against OPEC’s key supplier. Brent approached $68 per barrel after a two-session gain, and West Texas Intermediate traded below $64 per barrel.

Iranian Foreign Minister Abbas Araghchi confirmed the talks via social media. The outcome remains uncertain due to divergent positions on negotiation parameters, reinserting a risk premium into oil prices. The region supplies about a third of the world’s crude, and ongoing tensions over energy infrastructure in Ukraine have added volatility.

Meanwhile, precious metals declined: silver fell more than 16%, and gold dropped as much as 3.5% amid broader selloffs. US crude inventories fell to their lowest level in a month in the wake of Wednesday’s EIA data, but less than previously expected.

Global financial stability faces heightened risk as hedge funds hold a record £2.2tn in government bonds, with the Financial Stability Board (FSB) chaired by Andrew Bailey warning of potential fire sales and a spike in borrowing costs if economic shocks arise. As of November 30, hedge funds borrowed £100bn in gilts—10 times the level a year earlier—leveraging repo markets to finance 25% of their assets, with global repo exposure reaching $3tn (about half of the $16tn market). The UK accounts for roughly 15% of the repo market. In stress periods, cash demand outpaces supply, prompting rapid asset liquidation that can drive down sovereign bond prices and amplify cross-market volatility. Regulators are considering measures such as central clearing and larger haircuts to curb leverage.

Bitcoin continued its sell-off Thursday, closing below $70,000 on Bitstamp, hitting $69,101 during Asian trading hours. The price traded at a discount to Coinbase, where it reached $70,002.

The stronger selling pressure on Bitstamp, which is owned by Robinhood, likely contributed to the wider spread. The global average price, tracked by CoinDesk, peaked above $126,000 in early October and has trended lower since. Some analysts expect further declines, with a potential bottom near $60,000.