- Asia's equities rose after the S&P 500 closed above a key technical level and the UK reversed more of its planned tax cuts, boosting global market optimism.
- A regional equity index gained, powered by Hong Kong technology stocks. Shares of Chinese electric-car producer BYD rose more than 6% on a projected increase in third-quarter profit, drawing attention to other vehicle manufacturers in the nation.
- The Japanese yen has stalled in its march toward the widely watched 150 /dlr mark, putting investors on high alert for possible intervention. Japan's Finance Minister Suzuki stated that he is closely monitoring market movements.
- Chinese junk dollar bonds fell to a record low as a property crisis precipitated by a crackdown on excessive borrowing and a decrease in home sales shows no indication of improvement without additional policy moves.
- China's decision to postpone the release of crucial economic data, notably third-quarter GDP, may add a note of caution to regional markets. The communist party congress showed no evidence of easing China's Covid-zero and property-market policies, which are hurting on the economy.
