Fitch Eyes Japan Budget for Fiscal Discipline 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Norway Core Inflation Rises to 3% in August 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Gold Prices Rise as Yen Rally Weakens Dollar 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Asian Stocks Mixed as Korean Chipmakers Rally 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
South Korea GDP Surges on Chip and AI Boom 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
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Overview of Asia's Manufacturing Activity in October
Asia's manufacturing activity experienced stagnation in October, as a rebound in China failed to significantly uplift regional factories, according to private surveys. This presents a worrying trend for policymakers amid escalating U.S.-China trade tensions.
IMF Concerns Over Economic Risks
The International Monetary Fund (IMF) has highlighted increasing risks to Asia's economic outlook, citing trade fragmentation, issues within China's property sector, and potential market turbulence.
Regional Factory Activity Trends
Factory activity shrank in Japan and South Korea, driven by weak domestic demand and slowing growth in key markets, including the U.S. and Europe. Japan's final au Jibun Bank manufacturing PMI dropped to 49.2 in October from 49.7 in September, marking the fastest contraction in three months. Similarly, South Korea's PMI remained at 48.3, signaling a second consecutive month of decline with output hitting a 16-month low.
China’s Manufacturing Rebound
In contrast, China's manufacturing activity rebounded to growth in October, buoyed by several stimulus measures from Beijing aimed at revitalizing the fragile economy. The Caixin/S&P Global manufacturing PMI rose to 50.3, surpassing analysts' expectations and indicating stabilization for the first time since April.
Challenges Ahead
Despite these positive indicators, Krishna Srinivasan, the director of the IMF's Asia and Pacific Department, cautioned that deflation risks in China are rising, necessitating further reforms in its property sector and a shift towards a consumption-led economic model.
