BUSINESS

Elon Musk says SpaceX could eventually be worth more than the global economy, but analysts say the extraordinary vision depends on unproven technologies, enormous investment and expansion beyond Earth.

Microsoft shares rose 2.3% as investor confidence in its AI strategy strengthened, following strong cloud growth, Copilot updates and new hardware, despite concerns over heavy infrastructure spending.

Amazon shares rose 2.8% to $261.09 on Friday after a sharp decline the previous session, ahead of the company's October 29 earnings report and amid new tablet launches.

Adidas has sued Australian fashion label White Fox, alleging clothing featuring four parallel stripes and related advertising could mislead consumers and trade on its trademark reputation.

Sunrise Energy Metals shares closed 11.05% lower at A$17.15, extending recent losses as investors weigh the proposed Nasdaq listing, conditional Syerston debt and project funding uncertainty.

South Korea's KOSPI fell 2.62% to 6,625.93 as foreign and institutional investors sold heavily, overshadowing Samsung Electronics' record third-quarter profit forecast.

West African Resources shares climbed 5.4% to A$3.69 on Friday without a company announcement, while the gold miner remained below its 52-week high and analyst target.

The ASX 200 gained 0.59% on Friday and finished the week 0.3% higher, despite pressure from elevated interest rates, oil prices, weak consumer sentiment and market uncertainty.

Yelp shares gained nearly 3% on Thursday, but remain sharply lower for the year as investors assess a new Amazon advertising partnership, slowing services growth, rising costs and paused buybacks.

GameStop shares extended a monthlong rally after CEO Ryan Cohen and four directors bought stock, despite an 18.7% decline in second-quarter revenue.

Microsoft has opened pre-orders for the $2,599 Surface Laptop Ultra, a high-end 15-inch Windows laptop powered by Nvidia's RTX Spark chip and aimed at creative professionals, developers and AI researchers.

Sasol shares rose 5.4% to R253.35 as higher oil prices linked to Strait of Hormuz shipping strikes supported the fuel producer, while broader Johannesburg markets fell.

Intel shares fell 3.21% after reports that Elon Musk's Terafab project is discussing a dedicated fab with TSMC, raising fresh doubts about Intel's foundry ambitions ahead of earnings.

Haemonetics shares rose more than 15% after CSL Plasma said it expects to install the company's plasma collection systems at all its US centres by the end of 2027.

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South Korea's KOSPI has outperformed Japan's Nikkei 225 amid the AI and semiconductor boom, but its sharper volatility contrasts with Japan's broader market exposure and steadier performance.

Jeff Bezos says Blue Origin could become a public company in several years after raising $10 billion from outside investors, as it competes with SpaceX and expands its operations.