Bank of Korea left interest rates unchanged. Japan saw a surprise trade surplus in September, Australia unemployment ticks down in September.
Asia-Pacific markets saw a wide sell off, with Japan, South Korea and Hong Kong markets seeing losses of about 2% each.
Back in February, Kakao and K-pop agency Hybe were engaged in a bidding war to acquire a majority stake in SM. Hybe hadthat South Korea's financial market watchdog suspects that Bae Jae-hyun and two other Kakao executives inflated SM's share price to surpass the tender offer price. While it expects inflation to continue to slow to the lower end of 3% by the end of 2023, and continue to slow in 2024, the BOK noted that"upside risks to inflation have increased due to the effects of higher global oil prices and exchange rates, and due to the Israel-Hamas conflict."Despite this, the country's participation rate decreased to decreased to 66.7%. The participation rate measures the proportion of the working-age population that are working or looking for work.
In an Oct. 17 note, analysts at the global asset management firm pointed out that crowding is a"risk factor that is frequently mispriced because it is not easily observed." They added that crowded stocks are those made based on the consensus trades expected to have high returns and near-term stability.Data from Japan's customs agency revealed that exports in September increased 4.3% year on year, while imports slid 16.3% compared to the same period last year.
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Asia markets fall across the board; Bank of Korea holds ratesBank of Korea left interest rates unchanged. Japan saw a surprise trade surplus in September, Australia unemployment ticks down in September.
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Japan’s exports rebound in SeptemberJapan's exports rebounded in September, led by growth in shipments of autos and auto parts, data from the Ministry of Finance showed Thursday.
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Asia markets fall as Japan records surprise trade surplus; Australia unemployment figures awaitedAustralia's unemployment figures will be a key consideration for the country's central bank when it decides its monetary policy in November.
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Asia markets poised for fall ahead of Japan trade balance and Australia unemployment figuresAustralia’s unemployment figures will be a key consideration for the country’s central bank when it decides its monetary policy in November.
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Asia markets poised for fall ahead of Japan trade balance and Australia unemployment figuresAustralia's unemployment figures will be a key consideration for the country's central bank when it decides its monetary policy in November.
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PGA Tour makes its lone Asia stop in Japan. The LPGA has 2nd of 4 in a row in AsiaThe PGA Tour used to have three tournaments as part of its Asia swing. Now it's down to one. The Zozo Championship in Japan features PGA Tour players and Japan Golf Tour players. Leading the way is Xander Schauffele. He won the Olympic gold medal in Japan two years ago.
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