Fed Governor WALLER said the Fed will need to tighten policy further, citing US inflation that remains too high and poor September CPI data. He said he is particularly concerned that price pressures are broadening. Even if October CPI improves from September, he would support a 25bp hike in December; if October core CPI rises around 0.3% MoM or higher, the Fed may need to raise rates by 50bp in December.

On Tuesday a China Southern 1.25x long Kioxia single-stock leveraged product began trading in Hong Kong. The 1.25x gearing is lower than many Hong Kong single-stock leverage products that offer up to 2x exposure. Institutional analyst Rebecca Sin said interest in leveraged semiconductor exposure remains evident—reflected in large inflows to US leveraged semiconductor ETFs—but retail traders typically favour higher‑risk structures, leaving milder 1.25x–1.5x tiers less attractive than 2x–3x products. Tokyo-listed Kioxia has struggled to regain momentum as investors rotate away from AI trades; the broader semiconductor ecosystem is weighed by macro headwinds and geopolitical uncertainty. Kioxia is up over 100% year-to-date but about 75% below its June record high.

The Gulf Cooperation Council (GCC) said on the 10th that member states decided to set up a forward command of a joint military headquarters in Kuwait and deploy forces to it to bolster the Gulf states' joint defense capabilities.