China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian stocks retreated on Friday, mirroring Wall Street losses, as growing concerns over U.S. regional banks fueled risk aversion. Bonds surged while gold prices hit a new record high amid heightened market volatility.
Shares of Zions Bancorporation plunged 13% after revealing a $50 million loss tied to loans from its California division. Western Alliance fell 11% following its lawsuit against Cantor Group V, LLC, alleging fraud. Analysts warned that despite containment, these incidents echo the vulnerabilities seen during the 2023 banking crisis. Tony Sycamore of IG noted that “where there is smoke, there is often fire,” signaling potential for renewed financial strain.
The turmoil sent investors rushing to safe-haven assets. The U.S. dollar weakened against major currencies, with the yen and Swiss franc both strengthening. U.S. Treasury yields fell sharply, with two-year yields dipping to 3.404%, a three-year low, as traders priced in expectations for at least two more Federal Reserve rate cuts this year. Gold touched a record $4,378 per ounce before flattening, still on track for a 7.6% weekly gain—its strongest since early 2020. Silver also climbed to a new high.
Global equity sentiment further deteriorated amid escalating U.S.-China trade tensions after Beijing rebuffed Washington’s criticism of its rare earth export curbs. MSCI’s Asia-Pacific index dropped 0.9%, Japan’s Nikkei fell 1%, and Hong Kong’s Hang Seng slid 1.4%. Taiwan’s market dipped despite TSMC’s upbeat AI-driven outlook.
Meanwhile, oil prices extended declines, with U.S. crude down 0.7% to $57.04 and Brent slipping to $60.63, following news of a planned Trump-Putin meeting in Hungary to discuss ending the Ukraine war.
