U.S. Treasury Secretary Bessent told Fox News the Iran-related conflict has triggered an energy supply shock but he expects oil prices to fall once supply disruptions ease. He addressed inflation and said the private sector has added more than 1 mln jobs and real wages have risen, and he expects the economy to continue growing.

Hong Kong stocks opened lower; HSI down 0.74% and Hang Seng Tech Index down 0.78%. Gold miners led losses while select marquee internet and tech names showed pockets of buying.

S&P GLOBAL MARKET INTELLIGENCE’s Annabel Fiddes said Japan’s private sector expanded in September but growth cooled. The preliminary composite PMI output index signalled the 18th straight month of expansion, yet at its slowest pace since May. Inflationary pressure remains elevated, driven by a weaker yen and cost increases linked to the Middle East conflict. Firms raised capacity amid sustained sales, lifting employment at the fastest pace in seven months. Business confidence improved, supported by surging AI-related demand and expected sales gains in defence and autos, though high prices and relatively soft domestic demand present downside risks to corporate earnings.