News

At the opening of the morning session, most domestic futures contracts declined, with Shanghai silver falling over 5%, Shanghai gold falling nearly 3%, fuel oil, lithium carbonate, and caustic soda falling over 2%, and Shanghai tin, platinum, and nickel falling over 1%. On the upside, methanol rose over 4%, propylene rose nearly 4%, paraxylene, liquefied petroleum gas (LPG), apples, polypropylene (monthly average), and PTA rose over 3%, while styrene (EB) and plastics rose over 2%.

Shenzhen Stock Exchange: Shenzhen Evolution Intelligent Technology Co., Ltd. (New) has been added to the list of securities eligible for the Hong Kong Stock Connect program, effective November 2.

Japanese Finance Minister Satsuki Katayama: It's impossible to judge whether the current level is good or bad. The situation has improved somewhat compared to before.

Japanese Finance Minister Satsuki Katayama: The joint exchange rate statement with the United States remains in effect, and action will be taken against disorderly trends.

Japanese Finance Minister Satsuki Katayama: Prime Minister Sanae Takaichi stated that there are problems with the depreciation of the yen.

Japanese Finance Minister Satsuki Katayama: Ensuring the stability of the foreign exchange market is of paramount importance.

Japanese Finance Minister Satsuki Katayama: No comment on specific exchange rate levels.

Australia's seasonally adjusted private building permits annual rate was 9.6% in September, compared with 18.4% in the previous month.

Australia's seasonally adjusted building permits annual rate fell 0.8% in September, compared with 10.3% previously.

Australia's seasonally adjusted building permits rose 5.1% month-on-month in September, compared with a previous reading of -6.10%.

Japan's final manufacturing PMI for October was 53.3, unchanged from the previous month.

Australia's seasonally adjusted private building permits fell 5.3% month-on-month in September, compared with 3.7% previously.

According to Russian media reports citing the Russian Ministry of Emergency Situations, the ministry's mobile application suffered a large-scale cyberattack, leading to the spread of misinformation.

Australia's TD-MI inflation index rose 4.9% year-on-year in October, down from 4.80% previously.

Australia's TD-MI inflation index rose 0.5% month-on-month in October, down from 0.30% previously.

On Monday, November 2, the NI225 index opened down 349.41 points, or 0.55%, to 62,940.70.

Australia's S&P/ASX 200 index opened down 11.90 points, or 0.13%, at 8896.20 on Monday, November 2.

With the increase in foreign property ownership, the Japanese government is considering taxing the income of overseas residents operating real estate rental or parking businesses in Japan to address tax unfairness. Currently, prefectures in Japan do not have the authority to tax overseas residents; they can only tax those with offices or residences in Japan. The Ministry of Internal Affairs and Communications plans to include this change in the tax reform guidelines for fiscal year 2027, currently being developed by the government and the ruling coalition. The personal business tax rate is approximately 5%, calculated based on the business owner's previous year's business or real estate income, minus a deduction of 2.9 million yen (approximately US$18,420). The aim is to maintain tax fairness. The authority to collect the personal business tax rests with the prefecture where the business is located. While Japanese residents can be taxed based on their place of residence even without a business location, overseas residents without a business location or residence in Japan cannot be taxed, leading to a disparity in tax burden.

According to the Sankei Shimbun: The Japanese Ministry of Defense estimates that the defense budget will reach 80 trillion yen within 5 years, 1.8 times the current plan.

U.S. 10-year Treasury futures fell 2 points, and 30-year futures fell 3 points.