Market Bizzz

Shares in Nissan Motor slumped more than 11% in Tokyo trading on Friday after the company said the previous day it expected to sell fewer cars in the current financial year than it had previously and amid worries about its business in China.

Japan’s Nikkei share average hit a more than two-week high on Thursday, as tech stocks followed their Wall Street peers higher and a weakening yen lifted overall sentiment.

As the S&P 500 continues to hit fresh milestones with a first-ever break above the 5,000 level, its valuation is reaching new heights as well.

Arm surged more than 30% on Wednesday after the British tech company forecast quarterly sales and profit above Wall Street expectations as customers aim to design new chips for artificial intelligence work, generating higher royalties.

Billionaire hedge fund manager William Ackman is launching a new investment portfolio in the U.S., according to a regulatory filing which suggests the fund will mimic his existing hedge fund but offering lower fees and quicker access to capital.