Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian shares rose on Thursday, recovering from a sharp selloff the previous day after strong U.S. economic data restored investor confidence. The upbeat figures boosted optimism about the global economy, while U.S. Treasury yields remained elevated, tempering expectations of an imminent Federal Reserve rate cut.
The U.S. services sector expanded at its fastest pace in eight months in October, driven by solid new orders and private payroll growth that exceeded forecasts with 42,000 new jobs. Analysts said the labor market remains resilient, supported by increased business investment in technology rather than new hiring. Keiko Kondo, head of multi-asset investments for Asia at Schroders, noted that companies are adapting rather than downsizing, reflecting a shift in labor market dynamics.
Wall Street rebounded overnight as investor concerns over inflated technology valuations subsided, with strong corporate earnings boosting risk appetite. In Asia, Japan’s Nikkei climbed 1.5% after a steep 2.5% decline, while South Korea’s Kospi surged over 2%. The MSCI Asia-Pacific index excluding Japan also gained 0.32%, signaling renewed market optimism after Wednesday’s heavy selloff.
Meanwhile, the 10-year U.S. Treasury yield hovered near 4.15%, while the two-year yield stood at 3.62%. Traders now see about a 60% chance of a Fed rate cut in December, down from 70% earlier in the week, as strong economic data continues to support the dollar.
In currency markets, the dollar dipped slightly to 153.86 yen, while the euro strengthened to $1.1507 and the British pound edged up to $1.3061 ahead of the Bank of England’s policy decision.
Oil prices also firmed slightly, with Brent crude at $63.55 per barrel and U.S. crude at $59.65, as market sentiment improved alongside equity gains.
