China
China’s Singles’ Day ended with weak consumer sentiment, revealing structural pressures on incomes, jobs and household wealth. Despite heavy discounts from BABA, JD and PDD, spending underperformed, signalling a fragile recovery heading into 2026.
Angola
The UAE and Angola deepen strategic ties by aligning investment, infrastructure and trade corridors, creating a Gulf-Africa growth axis. With multi-billion-dollar agreements the partnership offers a model for infrastructure capital and regional integration.
Philippine
OCBC cuts its 2025 Philippines GDP forecast below 5% after weak Q3 results and slow public spending. Consumption softens, credit tightens, and investment turns cautious, shifting growth from automatic to execution-dependent.
China
China’s pledge to increase Spanish imports boosts bilateral flows and counters EU surplus pressure; watch COSCO SHIPPING (1919.HK) and Spanish exporters like DIA.MC as logistics investment and volume commitments materialize.
Singapore
Three-quarters of Singapore’s SMEs are unprepared for mandatory sustainability rules. Tight margins, rising carbon taxes and ESG-linked lending costs are squeezing profitability, creating a risk of a two-speed economy where only large corporates can afford to go green.
China
Chinese firms with EU footprints sustain margins while tensions rise. Localization shields pricing power for EV and renewables; watch EV makers and solar suppliers such as tickers 688772.SS and 1211.HK as order backlogs guide earnings visibility.
Asia
Foreign investors pulled over USD 10B from Asian equities as rising real yields hit AI-related valuations. Outflows centered on Korea and Taiwan’s chip supply chain, but rotation into India and ASEAN signals profit-taking, not panic, as markets await earnings clarity.
South Asia
ASIANPAINT.NS profit rose 43% on 11% decorative volume growth; benign TiO₂ and crude aided margins. Watch TiO₂ prices and premium mix, with ^NSEI consumer staples breadth improving as disinflation steadies household budgets.
India
TATASTEEL.NS margins held despite softer HRC; India EBITDA rose 25% to ₹86.5b while Europe turned positive. Watch HRC–rebar spreads, ore costs, and infra demand for FY26 cash flow. Peers JSTL.NS, JINDALSTEL.NS set the performance bar.
Vietnam
VPB on HOSE and ^VNINDEX gain institutional depth as VPBank Securities raises ~$480m; watch subscription mix, free-float turnover, and margin leverage to judge post-listing liquidity and pricing power.
Japan
Stimulus near ¥20T may lift nominal GDP and support ^N225 cyclicals; watch USDJPY and 10Y JGB yields as capex and energy subsidies shape BOJ’s glide path and earnings visibility for exporters and domestic demand plays.
India
CPI at 0.25% y/y tilts RBI to December cuts; watch USDINR=X stability and IN10Y yields for transmission. Rate-sensitives on ^NSEI could re-rate as real rates normalize and consumption momentum steadies.