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It has been a muted week for international shares. The MSCI World index was down about 0.7% for the previous week, monitoring U.S. shares, which additionally declined final week. The S & P 500 was round 1% down week-to-date on Friday. Traders digested contemporary commentary from U.S. Federal Reserve officers on inflation and financial coverage, which heightened issues of even greater rates of interest. However some shares stood out. Listed below are the ten international shares below MSCI World that rose greater than 10% over the previous week ending Nov. 18. One prime performer was international tech firm Sea , which surged 15% over final week. Final week, the Singapore-based tech big stated it’ll renew its deal with profitability as an alternative of progress. The corporate owns on-line procuring platform Shopee and gaming arm Garena, two of its major money-making divisions. In a bid to stem losses, it has laid off greater than 7,000 workers, or round 10% of its workforce, over the previous six months, based on native media. In September, its prime administration additionally introduced it’ll forgo salaries “till the firm reaches self-sufficiency.” A majority of analysts gave Sea a “purchase” score, with a median worth goal upside of 63%, based on FactSet. Hong Kong-listed shares of Budweiser rose 12% over the week. Qatar had initially relaxed its alcohol restrictions to permit Budweiser, which has been the World Cup’s unique beer distributor since 1986, to promote its merchandise in Qatar World Cup official venues. However by the tip of the week on Friday, Qatar did a significant U-turn, banning all beer gross sales at and round its World Cup stadiums. Ross Shops was one other prime performer for the week, with Credit score Suisse naming the corporate its prime decide in off-price retail . — CNBC’s Sheila Chiang and Samantha Subin contributed to this report.
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