Asian stock markets slipped on Friday as tracking Wall Street losses, as a weak stream of US economic data and uncertainty over future interest rate moves weighed down investor confidence.Hong Kong’s HSI dipped 241 points to 26,244. Kospi reached 3,929, falling 96 points or 2.4%. Japan’s Nikkei also fell 1.7% or 905 points. Shenzhen, meanwhile, inched 24 points, trading at 13,477 at 11:15, AM IST.The latest pressure point for investors came from figures released by the outplacement firm Challenger, Gray & Christmas. Its report showed that US layoff announcements surged to their highest level in 22 years last month. According to the firm, this year has marked the worst period for job cuts since 2020, when the pandemic severely disrupted the labour market.Because of the longest-running US government shutdown, several federal departments remain closed, leaving markets to rely on private data to gauge the state of the economy. Although private hiring data a day earlier suggested an increase in employment, the Challenger report reignited concerns about the labour market and prompted renewed speculation that the Federal Reserve might lower borrowing costs again in December.That expectation was tempered by messaging from Fed officials, who indicated that a further rate cut is not assured. Their comments echoed recent remarks by Fed chair Jerome Powell.Several policymakers highlighted that while stabilising employment is part of the Fed’s mandate, inflation remains a central worry. Cleveland Fed chief Beth Hammack said she continues to be “concerned about high inflation and believe policy should be leaning against it”. In prepared remarks, she added: “To me, comparing the size and persistence of our mandate misses and the risks, inflation is the more pressing concern,” describing policy as “barely restrictive”.Chicago Fed president Austan Goolsbee told CNBC that making policy decisions without full government data due to the shutdown leaves him “even more uneasy.” A policymaker from the St Louis Fed also cautioned that lowering rates now would remove the downward pressure still needed to contain inflation.Asian indices responded to the Wall Street downturn. Tokyo and Seoul both declined more than two percent after recently setting record highs. Hong Kong, Shanghai, Sydney, Taipei and Manila also traded in the red, while Singapore, Wellington and Jakarta managed to edge higher.The weakness followed a rally in recent weeks that pushed several global markets and especially technology stocks, to historic levels. Heavy investment in artificial intelligence and expectations of an easing in US monetary policy helped fuel that rise. Chipmaker Nvidia even crossed a milestone, becoming the world’s first $5 trillion company.

Texas Attorney General Ken Paxton says he has sued Roblox over “flagrantly ignoring” safety laws and “deceiving parents” about the dangers the online video gaming platform poses to young people.

In a social media post he said Roblox is a “breeding ground for predators”, accusing Roblox of putting “pixel paedophiles and corporate profit” over the safety of Texas children.

The lawsuit adds to the legal challenges related to online safety and internet predators faced by the gaming giant, which has tens of millions of daily active users.

Roblox told the BBC it is “disappointed” that it is being sued based on “misrepresentations and sensationalised claims”.

The company’s spokesperson said in a statement that it shares Paxton’s commitment to keeping children safe online and that it has introduced measures to remove bad actors and protect its users.

Roblox, which is especially popular with children, operates a massive online platform where users can play solo or with friends.

The platform has been marketed to families and offers a host of educational games that teach subjects including coding, physics and problem-solving.

Users are also offered developer tools to build their own games – a feature that has resulted in some violent and sexual content surfacing on Roblox.

Another feature that allows users to enter servers and interact with strangers online has also been criticised for potentially exposing young players to dangerous individuals.

Parents and children have raised concerns about Roblox, saying that they have seen distressing content or suffered abuse on the platform.

Paxton called on the company to do more to protect children from “sick and twisted freaks hiding behind a screen”.

“Any corporation that enables child abuse will face the full and unrelenting force of the law,” he said in a statement on X.

Texas joins the US states of Kentucky and Louisiana which have also sued Roblox over potential harms to children.

Dave Baszucki, Roblox’s chief executive, previously told the BBC that parents who are uncomfortable with their children playing games on the platform should not let them use it.

“That sounds a little counter-intuitive, but I would always trust parents to make their own decisions,” Mr Baszucki said.

Roblox has introduced features in recent years to tighten age verification and safety for young players.

The platform said it is rolling out technology to estimate a player’s age using video selfies and other measures before they are allowed to communicate on Roblox.

Last year, Roblox also announced it will block under-13s from messaging others on the platform unless a parent or guardian grants permission.

Roblox has been banned in some countries, including Turkey over concerns about child exploitation.

The platform came under scrutiny in Singapore in 2023 after the government said that a self-radicalised teenager had joined ISIS-themed servers on Roblox.

The 16-year-old, who was one of two young people who were detained at the time, had joined Roblox servers that replicated real-life conflict zones such as those in Syria, the Singapore government said.

Morgan Stanley has an equal-weight rating on SBI with the target price raised to Rs 1,025. Analysts said the key positive from SBI’s July-Sept (Q2FY26) results was a 5% higher net interest income (NII) over analysts’ estimates and strong fees. Its profit after tax (PAT, pre-exceptional gain) was 15% above estimates, while asset quality remained strong. Analysts raised earnings per share (EPS) estimates by high single-digit percentage points for FY26 to FY28.Jefferies has a buy on M&M with the target price Raised to Rs 4,300. Analysts said the auto major delivered 14th consecutive quarter of double-digit earnings before interest, taxes, depreciation and amortisation (EBITDA) growth, with Q2FY26 up 23% on the year (YoY), ahead of analysts’ estimates. M&M raised FY26 outlook for tractors and LCVs, and now expects double-digit growth across segments. Analysts also said it has gained market share across SUV, tractors and LCVs in recent years. It also plans to launch three new SUVs in CY26, and a new SUV platform in CY27.HSBC has a buy on Adani Ports with the target price raised to Rs 1,700. Analysts said for the company Q2FY26 marked another quarter of continued improvement in return on capital employed (ROCE) across major businesses, notably in international ports. Robust underlying demand, market share gains, and overseas expansion underpin its 1,000 million metric ton throughput ambition for 2030. The company’s strategic pivot to focus on ROCE improvement should drive rerating.Citigroup has a buy rating on Paytm with the target price at Rs 1,500. Analysts said the company reported strong growth and market share momentum in credit on UPI (Rupay & Postpaid) is a tailwind that is likely to continue to aid net payment margins ex-devices. Additionally, device costs (across new device capex, refurbishment) have meaningfully declined, improving device economics. They said overall, Paytm reported a solid beat on EBITDA/EBIT on lower cloud costs and lower depreciation & amortisation. They said PayTM’s outlook on growth and EBIT margins are robust.CLSA has a hold rating on Kaynes Technology with the target price slightly reduced to Rs 6,375 from Rs 6,410 earlier. Analysts said the company’s Q2FY26 top line was largely in line while margins were slightly better. It maintained its FY26/FY28/FY30 revenue guidance, indicating consistently strong growth. However, cashflow conversion remained low, with around Rs 510 crore working capital increase largely due to receivables, which the company expects to improve going forward. While analysts are positive on the company on its strong growth outlook, low free cash flow generation could raise risks of consistent fund raise.