- Japan’s core CPI rose 2.3% YoY in October, slightly above expectations but marking second straight month of slowdown. Non-perishable food prices jumped 3.8%, with rice surging 58.9% – highest since 1971. BOJ rate hike expectations grow for December meeting.
- Asian markets broadly higher led by tech and chipmakers. Nikkei gained 1.2%, KOSPI added 1.2%, ASX 200 up 1.1%. MSCI Asia Pacific index up 0.7%. Chinese markets underperformed with CSI 300 down 0.5% amid stimulus uncertainty.
- Bitcoin surges to record $99,368, nearing historic $100,000 mark on Trump presidency optimism. Crypto market gains $1 trillion since election as industry anticipates friendlier regulations.
- US futures flat as Russia-Ukraine tensions escalate after Moscow launches hypersonic missile strike and threatens nuclear retaliation. NVIDIA hits record high on strong AI chip demand while Alphabet drops on breakup concerns.
- Adani Group shares and bonds under pressure after US fraud indictment. S&P downgrades outlook on three Adani entities to negative, citing funding access risks. Flagship Adani Enterprises plunged 22.6%. Group cancels $600 million bond sale.
- Dollar index steady near one-year high at 107.06 as markets reduce December Fed rate cut expectations. Chicago Fed’s Goolsbee sees rates moving “fair bit lower” as inflation eases. Treasury yields slip with 10-year marginally down.
- Japanese yen stabilizes after CPI data, with USDJPY at 154.50. BOJ’s Ueda signals closer scrutiny of data ahead of December meeting while emphasizing yen impact on policy outlook.
- Oil gains on rising Russia-Ukraine risks, with Brent at $73.77 and WTI at $70.10. Both contracts up 4-5% for the week. Gold extends rally to fifth session on geopolitical concerns and is currently at $2687 per ounce.
- DirecTV terminates planned acquisition of Dish Network after failing to secure bondholder approval for debt exchange.
- Singapore upgrades 2024 growth forecast after better-than-expected Q3 performance.
- Key events ahead: European and UK flash PMIs, UK retail sales data, BOJ policy decision focus increases after inflation data.
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