Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
U.S. Tech Industry Warns Vietnam Over Data Law
U.S. tech companies are expressing concerns that Vietnam's draft data protection law could stifle growth for social media platforms and data center operators. With a population of 100 million, Vietnam is a significant market for tech giants like Facebook and Google, and the country aims to expand its data center industry through increased foreign investment.
Jason Oxman, chair of the Information Technology Industry Council (ITI), stated that the proposed regulations would make it challenging for tech companies to connect with their users. The draft law, currently under parliamentary discussion, seeks to facilitate government access to data, following recommendations from the Ministry of Public Security.
As Vietnam's parliament debates the legislation, there are plans to finalize it by November 30, pending eligibility checks. Although existing laws restrict cross-border data transfers, these rules are infrequently enforced. The implications of the new law on foreign investment remain uncertain; however, recent reports indicated that Google was exploring the establishment of a major data center in Vietnam before the law's introduction.
Among the law's provisions is the requirement for prior authorization to transfer "core" and "important" data overseas, raising concerns about operational hurdles for foreign businesses. Tech firms advocate for streamlined cross-border data flows to enhance services and reduce costs, yet various jurisdictions, including the EU and China, have implemented similar restrictions citing privacy protection.
Adam Sitkoff, executive director of the American Chamber of Commerce in Hanoi, highlighted that the proposed law could create significant compliance challenges, prompting industry leaders to urge Vietnamese authorities to reconsider the accelerated legislative process.
