International News 19 November 2025
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Asian Currencies Hold Narrow Range as Markets Await Fed Signals
Asian currencies traded in a tight range on Tuesday (Nov 18, 2025), with the South Korean won and Malaysian ringgit recording the sharpest losses against the U.S. dollar. As of 02:01 GMT, the won weakened 0.42% to 1,466.50 per dollar, while the ringgit slipped 0.38% to 4.164. The Indonesian rupiah and Thai baht each fell 0.09%, and the Philippine peso dipped 0.03%. Meanwhile, the Japanese yen edged up 0.03%, and the Singapore dollar and Indian rupee remained broadly stable. The Taiwan dollar posted a mild 0.02% gain, while China’s yuan eased slightly by 0.01%. On a year-to-date basis, the ringgit has been the region’s strongest performer with a 7.30% gain since end-2024, followed by the Thai baht (+5.67%) and Taiwan dollar (+5.16%). In contrast, the rupiah and Indian rupee saw notable declines of -3.85% and -3.40%, respectively. Analysts say the muted currency movements reflect investor caution as markets await clearer policy direction from the U.S. Federal Reserve and broader global economic indicators.
Berkshire’s Big Bet Sends Alphabet to Record Highs
Alphabet shares surged nearly 6% to an all-time high on Monday (Nov 17, 2025) after Berkshire Hathaway revealed a new US$4.93 billion position, signaling strong confidence in the company’s AI strategy despite growing concerns over a potential tech bubble. Berkshire purchased 17.85 million shares, marking one of the conglomerate’s last major moves under Warren Buffett and a rare expansion into pure technology. The investment comes at a time when broader sentiment toward tech stocks is turning cautious, with warnings that AI enthusiasm may have pushed valuations ahead of fundamentals. Even so, Alphabet has stood out: its stock has climbed almost 14% in Q4 and 46% year-to-date, making it the best performer among the “Magnificent Seven.” Analysts say Alphabet’s valuation—around 25× forward earnings—remains relatively attractive compared to Microsoft and Nvidia, supported by robust cash flow, expanding AI infrastructure, and accelerating growth at Google Cloud. The Berkshire endorsement reinforces confidence in Alphabet’s competitive position in AI, particularly through Google Cloud, Gemini’s expansion, and its massive advertising engine that funds ongoing investment in data centers. Analysts note that this move may also reflect Buffett’s long-standing regret over missing Google early on. While it is unclear whether the decision came directly from Buffett or his portfolio managers, the size suggests top-level involvement. The stock’s rally could add roughly US$180 billion in market value and has already become one of the most discussed names on Stocktwits. Despite this purchase, Berkshire remained a net seller of equities last quarter—trimming stakes in Apple and Bank of America—pushing its cash holdings to a record US$381.7 billion, a sign some investors interpret as Buffett’s belief that overall market valuations remain stretched.
Fed Divided as Inflation Stays Stubborn and Data Gaps Cloud December Rate Decision
The Federal Reserve is heading into a pivotal December meeting amid stubborn inflation, unclear economic data, and widening internal divisions. What was once seen as a near-certain rate cut has turned into a 50:50 scenario, with policymakers split into dovish, hawkish, and undecided camps. Inflation sits at 3% and unemployment at 4.3%, but the ongoing government shutdown has limited access to official data, forcing Fed officials to rely on private surveys. While the Fed cut rates by 25 bps in October to 3.75%–4.00% to support a cooling labor market, concerns over rising prices—particularly in essential services like childcare and elder-care—remain. Corporate America is also slowing hiring, with Amazon, UPS, Verizon, and others announcing large layoffs, while tariff adjustments by the White House add another layer of uncertainty to household costs. Within the Fed, the debate is intensifying. Previously dovish officials like Boston Fed President Susan Collins and Atlanta’s Raphael Bostic are now signaling caution, warning that further cuts could reignite inflation. Kansas City Fed President Jeff Schmid, one of two dissenters in October, argues that strong economic momentum risks fueling price pressures and questions the need for additional easing. Meanwhile, Governor Stephen Miran continues to push for a more aggressive 50-bp cut, though he says his stance could shift with new data. With 12 voting members preparing for the December 9–10 FOMC meeting, the Fed faces a delicate balancing act between its dual mandates as conflicting views and incomplete data cloud the path forward.