High Rates Weigh on U.S. Home Improvement Demand 
Euro Hits 17-Month Low as France Debt Fears Boost Dollar 
Hong Kong Stocks Slip as Property, Financial Shares Weigh 
Yen Strengthens on Tokyo Inflation as Dollar Awaits US Jobs Data 
Oil Prices Hold Steady as Middle East Supply Risks Persist 
Ukraine Faces $56 Billion Budget Gap as War Costs Soar 
AI Agents Could Disrupt Financial Services, Bernstein Says 
OPEC+ Keeps November Oil Output Targets Steady 
RBI Rate Hike Bets Surge as Inflation Rises 
Asian Stocks Rise as Fed Rate Hike Bets Fade 
Tokyo Inflation Jumps to 2.7%, Boosting BOJ Rate Hike Expectations 
Middle East Oil Exports Top Pre-War Levels Despite Hormuz Attacks 
Asian Stocks Fall as US Jobs Data and Oil Risks Rattle Markets 
Fed’s Logan Signals 50 Basis Points More in Rate Hikes 
Asian Currencies Slide as Dollar Rises, Euro Hits 17-Month Low 
India-US Trade Deal Talks Hit Plateau, Sitharaman Says 
Thailand Plans Dual-Class Shares to Revive IPO Market 
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Asian Stocks Mixed as U.S. Treasury Yields Rise
Asian stocks performed mixed on Wednesday, as rising U.S. Treasury yields and uncertainty around the upcoming U.S. presidential election kept investors cautious. Most regional markets followed a flat lead from Wall Street, which saw mixed corporate earnings and subdued optimism.
Hong Kong's Hang Seng Index Surges on IPO Strength
Hong Kong's Hang Seng Index led the region, rising 1.7%. The market was buoyed by a strong debut from China Resources Beverage, which saw its shares soar by 14%. The company raised $540 million in its IPO, marking Hong Kong’s second-largest IPO of the year. This followed Horizon Robotics, which raised $696 million earlier in the week, fueling optimism about a recovery in Hong Kong's IPO market after a prolonged slump.
Chinese Markets Extend Gains on Stimulus Measures
China’s Shanghai Composite and CSI 300 indexes rose 0.4% and 0.2%, respectively, as Beijing's recent stimulus measures boosted investor sentiment. A surprise interest rate cut from the People’s Bank of China (PBOC) on Monday and expectations of further liquidity injections helped support Chinese stocks.
Other Asian Markets Struggle for Direction
Elsewhere, Japan's Nikkei 225 and TOPIX indices remained flat amid anticipation of a general election and an upcoming Bank of Japan meeting. Australia’s ASX 200 and South Korea's KOSPI also saw minimal movement, while India's Nifty 50 futures pointed to a weak open due to profit-taking and capital outflows.
