RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
Trump, Xi Focus on Trade and AI at White House Summit 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Fed Unveils Stablecoin Rules Under GENIUS Act 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
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Most Asian stock markets slipped on Thursday as investors pulled out of heavyweight technology shares amid growing concerns over high valuations and shifting focus toward major Hong Kong earnings. The move followed a mixed performance on Wall Street, where a tech sell-off dragged the Nasdaq lower while the Dow Jones hit a record high. Meanwhile, S&P 500 futures edged up in Asian trading after U.S. lawmakers ended the nation’s longest government shutdown.
Technology-heavy markets such as South Korea’s KOSPI and Hong Kong’s Hang Seng Index fell, with Japan’s Nikkei 225 trading flat. The broader TOPIX, which includes more non-tech stocks, gained 0.6%. Japan’s producer price inflation rose slightly above expectations for October, fueling speculation about potential hawkish signals from the Bank of Japan.
The recent rotation away from tech was driven by concerns over inflated valuations, largely fueled by the ongoing enthusiasm surrounding artificial intelligence. In contrast, Chinese mainland markets advanced, with the Shanghai Shenzhen CSI 300 climbing 0.7% and the Shanghai Composite adding 0.3%.
Hong Kong’s Hang Seng dropped 0.4% ahead of highly anticipated earnings from major Chinese tech firms including Alibaba Group, Tencent Holdings, and JD.com, all scheduled to report Thursday. Semiconductor Manufacturing International Corp (SMIC) will release its results on Friday. These reports are expected to offer insights into China’s AI development and consumer spending trends.
Australia’s ASX 200 was the region’s weakest performer, sliding 1.1% after stronger-than-expected employment data reduced prospects for further rate cuts by the Reserve Bank of Australia. Meanwhile, Singapore’s Straits Times edged lower, and India’s Nifty 50 futures gained 0.1% as soft October inflation data boosted rate-cut expectations by the Reserve Bank of India.
