1. China stocks rise, brushing off weak GDP data
Asia-Pacific markets opened higher Monday as investors parsed the latest slew of economic data out of China. China’s GDP rose 4.8% in the July-to-September period compared to a year ago, in line with expectations of analysts. The Asian giant also kept its benchmark lending rates unchanged, in line with expectations, with the one-year loan prime rate at 3%. Hong Kong’s Hang Seng Index was up over 2%, while the mainland’s CSI 300 rose 0.74%. Japan’s Nikkei 225 rose almost 3% to hit above 49,000 for the first time, while the Topix added 2%, after the country’s Liberal Democratic Party and the Japan Restoration Party effectively reached an agreement to form a coalition government, NHK reported citing sources.
2. Stocks close higher as bank credit worries, China trade tensions ease
The Dow Jones Industrial Average rose Friday as traders digested the U.S.′ softening tone on its trade talks with China and tried to move past credit concerns that sparked a big sell-off in regional banks Thursday. The Dow finished 238.37 points, or 0.52%, higher at 46,190.61. The S&P 500 settled up 0.53% at 6,664.01, while the Nasdaq Composite added 0.52% to finish at 22,679.98. Stocks extended their gains in afternoon trading after Treasury Secretary Scott Bessent said he would be speaking with his Chinese trade counterpart Friday evening. Trump also said from the White House that a meeting with China President Xi Jinping was still likely at the end of the month. The comments suggested the threat of 100% additional tariffs against China on Nov. 1 might not come to pass.
3. Gold prices steady after cooling US-China trade jitters spark deep losses
Gold prices rose in Asian trade on Monday, recouping a measure of recent losses and keeping recent record highs close as markets digested some conciliatory comments from U.S. officials on a trade conflict with China. Spot gold rose 0.4% to $4,267.70 an ounce, while gold futures for December rose 1.6% to $4,280.65/oz by 00:49 ET (05:49 GMT). Spot gold hit a peak of $4,379.44/oz last week. The yellow metal tumbled from record highs last week after U.S. President Donald Trump raised doubts over a prolonged trade war with China, while also stating that upcoming talks with Beijing remained on track. Trump said he viewed high tariffs on China as “not sustainable,” and that he was set to meet Chinese President Xi Jinping in South Korea in two weeks.
4. Oil prices slip on concerns over US-China trade tensions
Oil prices dipped on Monday, pressured by worries over a global glut as escalating U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand. Brent crude futures fell 24 cents, or 0.4%, at $61.05 a barrel at 0032 GMT, while U.S. West Texas Intermediate futures were down 21 cents, or 0.4%, at $57.33, erasing gains from Friday. Both benchmarks declined more than 2% last week, marking their third consecutive weekly decline, partly due to the International Energy Agency’s outlook for a growing supply glut in 2026.
5. China’s economy grows 4.8% in third quarter as expected, but investment sees ‘rare and alarming’ drop
China’s economy grew 4.8% in the third quarter from a year earlier, the slowest pace in a year but in line with analyst expectations despite the ongoing real estate slump. Fixed-asset investment, which includes real estate, unexpectedly contracted 0.5% in the first nine months of the year as spending on infrastructure and manufacturing slowed. Analysts polled by Reuters had forecast a 0.1% growth. Property investment extended its decline, sliding 13.9% in the year through September, compared with a 12.9% drop during the first eight months of the year. The drop in fixed-asset investment is “rare and alarming,” Zhiwei Zhang, president and chief economist at Pinpoint Asset Management, said in a note. He warned that fourth-quarter GDP growth faces downward pressure.
6. Israel says ceasefire and aid to resume after airstrikes kill 26 in Gaza
The Israeli military said on Sunday that a ceasefire in Gaza had resumed after an attack that killed two of its soldiers and prompted a wave of airstrikes that killed 26 people, in the most serious test yet of this month’s U.S.-brokered truce. Aid into the enclave was set to resume on Monday following U.S. pressure, an Israeli security source said, shortly after Israel announced a halt in supplies in response to what it said was a “blatant” violation by Hamas of the truce. The Israeli strikes killed at least 26 people in Gaza, including at least one woman and one child, according to local residents and health authorities. U.S. President Donald Trump’s envoy Steve Witkoff and son-in-law Jared Kushner were expected to travel to Israel on Monday, an Israeli official and a U.S. official said.
7. Trump urged Zelenskyy to cut a deal with Putin or risk facing destruction, reports
U.S. President Donald Trump pushed Ukrainian President Volodymyr Zelenskyy to give up swaths of territory to Russia during a tense meeting on Friday that left the Ukrainian delegation disappointed, according to two people briefed on the discussion. Trump also declined to provide Tomahawk missiles for Ukraine’s use, and mused about giving security guarantees to both Kyiv and Moscow, comments that the Ukrainian delegation found confusing, added the two sources, who requested anonymity to discuss a private conversation. After his meeting with Zelenskyy, Trump publicly called for a ceasefire on the current frontlines, a position that the Ukrainian president then embraced in comments to reporters.
8. Bessent, Chinese vice premier to meet to try to defuse escalation of U.S. tariffs
U.S. Treasury Secretary Scott Bessent said on Friday he expects to meet next week with Chinese Vice Premier He Lifeng in Malaysia to try to forestall an escalation of U.S. tariffs on Chinese goods that President Donald Trump said was unsustainable. Bessent made the announcement during a White House cabinet meeting and later confirmed plans for a meeting after a call with He on Friday evening. Bessent said on X the two officials “engaged in frank and detailed discussions regarding trade between the United States and China.” “We will meet in-person next week to continue our discussions,” Bessent wrote. China state news agency Xinhua reported that He and Bessent had “candid, in-depth, and constructive discussions on major issues in bilateral economic and trade relations” in a video call, and agreed to a new round of trade talks as soon as possible.
9. Novo Nordisk hires US pharma veteran as Trump pricing pressure mounts
Novo Nordisk has appointed U.S. pharmaceutical executive Greg Miley as its new global head of corporate affairs, as the obesity drugmaker faces growing pressure from U.S. President Donald Trump on drug pricing. Miley recently served as senior vice president of government affairs at U.S. pharmaceutical giant AbbVie. He posted a statement about his appointment on LinkedIn on Friday and Novo Nordisk shared the statement with Reuters. A Novo spokesperson said on Saturday that Miley would join the company in early November, overseeing global communication and global public affairs. Novo is turning to an American executive with deep U.S. pharmaceutical experience to help navigate political risks under the Trump administration in the United States, its largest market.
10. Trump approves expanding credits for US auto production, issues new 25% truck duties
U.S. President Donald Trump on Friday signed orders expanding credits for U.S. auto and engine production and setting new 25% tariffs on imported medium- and heavy-duty trucks and parts starting November 1. The tariffs, which the orders say are being made on national security grounds, are aimed at shifting more auto production to the United States but could be a significant blow to Mexico, which is the largest exporter of medium- and heavy-duty trucks to the United States. Trump is also setting a 10% tariff on imported buses. Trump’s order makes automakers eligible for a credit equal to 3.75% of the suggested retail price for U.S. assembled vehicles through 2030 to offset import tariffs on parts. He is also extending the 3.75% credit for U.S. engine production and for U.S. medium- and heavy-duty truck production.
11. Apple secures exclusive F1 U.S. streaming rights in five-year deal
Apple Inc shares rose nearly 1% on Friday after the company announced a five-year partnership with Formula One that will bring all F1 races exclusively to Apple TV in the United States beginning in 2026. The deal builds on Apple’s relationship with Formula 1 following the success of “F1 The Movie,” which has become the highest-grossing sports movie of all time, generating $629 million at the global box office. Under the agreement, Apple TV will provide comprehensive coverage of Formula 1, including all practice sessions, qualifying, Sprint sessions, and Grands Prix to subscribers. Select races and practice sessions will be available for free in the Apple TV app throughout the season. Apple will also promote Formula 1 content across its ecosystem, including Apple News, Apple Maps, Apple Music, and Apple Fitness+.
12. Coca-Cola considers $1 billion IPO of Indian bottling unit, reports
Coca-Cola is considering taking its Indian bottling unit public in a deal that may fetch $1 billion, Bloomberg News reported on Friday, citing people familiar with the matter. The company has met with bankers to discuss listing Hindustan Coca-Cola Beverages, the report said, adding that it would value the unit at $10 billion. Coca-Cola did not immediately respond to a Reuters request for comment outside regular U.S. business hours. Hindustan Coca-Cola Beverages could not be reached for comment. The beverage giant has been facing competition from Reliance’s consumer products brand Campa Cola. Talks of a potential listing are in early stages and the company hasn’t hired bankers yet, according to reports, adding that the deal would probably occur next year if it goes ahead.
