Hamas militants launched an unprecedented incursion into Israel, firing over 3,000 missiles, infiltrating Israeli towns near the Gaza Strip and taking scores of hostages. Prime Minister Benjamin Netanyahu said Israel is “at war.” This is the latest on the conflict.
In Asia, China returns from the long holiday, haze has returned to countries in Southeast Asia and Hong Kong is battening down for another storm. Here’s a guide to what’s ahead this week.
The big reopening. Chinese markets slept through one of the more tumultuous global weeks this year for stocks and bonds. Here’s how they may wake up.
The big deluge. Hong Kong will raise its storm warning to signal 8 this afternoon, effectively shutting down the city, as Typhoon Koinu brings strong winds and heavy rain.
The big smoke. Singapore said air quality turned “unhealthy” this weekend due to haze from fires in Indonesia. Jakarta denied that it was to blame, but said it’s fighting seven times as many fires this year as at the same time in 2022.The big numbers. Data from China is likely to paint a mixed picture of the economy. Focus on consumer price inflation, which will probably be stuck near zero, showing that domestic demand is still weak. Singapore’s 3Q GDP numbers will probably show the economy going into reverse, but that won’t faze the monetary authority, which remains focused on inflation. India’s economy is settling into a sweet spot, with inflation slowing, factories picking up and the trade deficit shrinking. A bigger current account surplus in South Korea could take some pressure off the won.
The big meeting. China’s new central bank chief, Pan Gongsheng, is set to make his first big international appearance at the IMF/World Bank annual gathering in Marrakech, a month after the region was devastated by an earthquake. The IMF will publish fresh economic projections ahead of the gathering after previously lowering forecasts for the whole world except for the US.
The big memo. Minutes of the Fed’s September meeting, due on Wednesday, may shed some light on whether the central bank is leaning toward raising interest rates again before the end of the year. The next policy decision comes on Nov. 1.
The big dent. It’s LME week this week and the chief of the London Metal Exchange says he’s optimistic that the 146-year-old trading venue is beginning to move on from the nickel crisis that threatened to destroy it.
The big testimony. Over five hours inside a Manhattan courtroom, 30-year-old coding savant and onetime billionaire Gary Wang detailed the final, frantic days at crypto exchange FTX before its devastating collapse.
The big truck. One of the hottest-selling Mercedes models is not what you might think, thanks to global warming.
The big pill. Soaring sales of appetite-suppressing drugs such as Ozempic and Mounjaro are raising a difficult question for food companies: What does a less-hungry customer mean for my business model?
The big scrum. Japan face Argentina today in a must-win game for both sides to progress from the group stage in the Rugby World Cup.
And finally, here’s one place that’s trying to frighten away partygoers for Halloween.
Have a placid week.
