South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
At a farmer’s market near Tokyo, over a hundred shoppers queued for a chance to scoop up a kilo of rice for just 500 yen ($3.32), around 40% cheaper than the average retail price. The event, while promotional, highlights Japan’s growing struggle with inflation that continues to outpace wage growth for the third straight year.
Consumers like 28-year-old Tasuku Uchida say rising prices are hitting hard, with basic grocery costs escalating even without extra purchases. “When I see my receipt, I realize how far prices have risen,” he said, urging the government to take swift action.
Prime Minister Sanae Takaichi, who took office on October 21 with an approval rating above 60%, now faces the challenge of tackling soaring rice prices. Her administration plans to announce an economic package by month’s end, with ideas such as rice coupons for select households being considered.
Rice prices began surging last year due to supply shortages and extreme weather, briefly stabilizing after the government released emergency stockpiles. However, prices have again climbed close to record highs, with supermarket prices averaging 4,235 yen per 5-kg bag in late October — up 23% year-on-year. Wholesale prices for September rose 36% from August to 36,895 yen per 60 kg.
Wholesalers cite fears of another shortage, while consumers turn to imported rice despite Japan’s 341 yen-per-kilo levy. Imports by private companies surged 160-fold in September, underscoring growing reliance on cheaper foreign grain.
Experts say prices are unlikely to drop before March. Analysts like Takahide Kiuchi of Nomura Research Institute believe government policy now leans toward supporting farmers rather than consumers, potentially keeping prices near 4,000 yen.
Even farmers admit the market has overheated. “It’s too expensive,” said Ibaraki farmer Yasuji Oshima. Yet he warned that returning to pre-2024 prices could devastate farm profits, urging policies that ensure Japan’s agricultural sustainability for decades to come.
