Meta Announces New Layoffs in WhatsApp, Instagram, and Reality Labs Amid Ongoing Restructuring 
Wisk Aero Partners with Airservices Australia for Air Taxi Integration 
Asian Currencies Steady as Markets Await China Stimulus and Trump Trade Impact 
Asian Markets Fall Amid Weak Tech Earnings and Sluggish Chinese Demand 
Bank of Japan's Interest Rate Outlook: No Immediate Hikes Expected 
Apple Launches New iPad Mini with Advanced AI Features 
Trump Defends Protectionist Trade Policies in Chicago Interview 
McKinsey Restructures China Operations, Cuts 500 Jobs Amid Security Concerns 
Australian Dollar Debt Sales Slow as U.S. Election Looms 
Stellantis Expands Factory Complex in Mexico for Ram 1500 Pickup Production 
Oil Prices Rebound as U.S. Inventories Shrink, Middle East Tensions Loom 
TSMC Reports Strong Q3 Profit, Driven by AI Demand and 3nm Chip Sales 
Bank of Japan Urged to Raise Interest Rates Slowly Amid Global Uncertainty 
Asian Markets Lifted by Chinese Stimulus Expectations
Most Asian stocks gained on Thursday, with Chinese markets leading the charge ahead of a government briefing on stimulus measures for the property sector. The Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose by 1.2%, while the Hang Seng Index in Hong Kong surged by 2.4%, driven by strong performance in property stocks.
The briefing, scheduled for later today, will outline new support for China's property market. Since late September, recent government announcements have fueled optimism for an economic recovery, leading to significant gains in Chinese stocks. Investors also await China's third-quarter GDP data, due Friday, which is expected to provide further insights into the country’s economic trajectory.
TSMC Earnings to Highlight AI Demand
Taiwan Semiconductor Manufacturing Company (TSMC) is set to release its third-quarter earnings later today, a key focus for investors. TSMC, a leader in global chipmaking, is expected to report a net profit of T$300.1 billion ($9.33 billion), driven by increasing demand for artificial intelligence technologies. Despite a 1% dip in Taipei shares, expectations remain high for AI-driven growth.
However, recent forecasts from ASML, another major player in the tech industry, indicated weaker sales for 2025, raising concerns about the sector’s future outlook.
Mixed Performance Across Broader Asian Markets
Australia's ASX 200 reached a record high, gaining 1% on optimism over China’s stimulus and strong domestic labor data. Meanwhile, Japan's Nikkei 225 fell 0.6% after reporting a larger-than-expected trade deficit for September, impacted by slowing exports to China.
South Korea's KOSPI remained flat, with chipmaking stocks subdued ahead of TSMC’s earnings, while India’s Nifty 50 futures pointed to a slightly weaker opening as major firms prepare to release earnings.
