NEW DELHI: Global stocks finished an ugly week with another volatile session Friday as the buying frenzy over GameStop and some other equities resumed amid stepped-up scrutiny from regulators. Major US indices fell about two percent following similar drops in Europe and Asia, while investors shrugged off some positive developments on coronavirus vaccines.

NEW YORK: The US Securities and Exchange Commission (SEC) on Friday said its regulators were keeping an eye on the whipsawing share prices of some Wall Street stocks that had been targeted by a social media-driven campaign to make wealthy hedge funds suffer.

KUWAIT: Kuwait yesterday reported 514 COVID-19 positive cases from 8,336 swab tests, compared to 658 from 11,338 tests on Friday, whereas one coronavirus-related death was reported in the past two days, Ministry of Health figures have shown. 

SEOUL: Samsung Electronics, the world’s biggest smartphone and memory chip maker reported fourth-quarter net profits up by more than a quarter year-on-year yesterday, with coronavirus-driven working from home boosting demand for devices powered by its chips. 

HONG KONG: Shares in Hong Kong’s marquee carrier Cathay Pacific plunged yesterday after the struggling airline unveiled a HK$6.7 billion (US$870 million) bond sale to try to stem its rampant cash burn. 

TOKYO: Japan’s Toyota reclaimed the title of world’s top-selling automaker in 2020, according to data released by the firm yesterday, pushing Volkswagen into second place for the first time in five years. Toyota said it had sold 9.53 million vehicles around the world last year, overtaking the 9.3 million sales made by its German rival.

KUWAIT: Kuwait announced 588 new coronavirus infections and one virus-related death yesterday, taking total cases to 163,450 and deaths to 958, the health ministry said. The number of people hospitalized with the virus stands at 6,105, with 46 of them in intensive care units, according to ministry spokesman Dr Abdullah Al-Sanad. 

WASHINGTON: Investors may have become overly complacent about financial conditions, which poses the risk of a sharp downturn in markets, the IMF said yesterday. 

NEW YORK: Boeing concluded a bruising 2020 yesterday with another unpleasant surprise: a $6.5 billion hit from delays to its new 777X plane that exacerbated its annual loss.