Japan Tobacco said all its entities in Russia are currently under temporary management and that its Russian business remains operational.

Key market events this week: concentrated Fed speaker slate, US inflation and PPI, China macro prints, OPEC/IEA oil reports and Abu Dhabi US‑Russia‑Ukraine talks (Nov 10–11) that carry geopolitical risk for oil markets. Monday: China Oct CPI and M2 (y/y) due; Australia Reserve Bank assistant governor Hunter speaks; earnings from Occidental Petroleum and Lucid. Tuesday: US Oct seasonally adjusted CPI m/m and core CPI m/m; NY Fed 1‑yr inflation expectations; ADP payrolls; China Oct trade balance (USD and RMB); G7 foreign ministers meeting; Bank of England governor Bailey speaks on central bank independence; BOJ issues minutes of its Oct policy meeting; US‑Russia‑Ukraine talks in Abu Dhabi begin Nov 10. Wednesday: US 10‑yr Treasury auction stop yield and bid‑cover published; API weekly oil stocks; OPEC monthly oil market report and EIA monthly short‑term energy outlook; Bank of Canada releases policy minutes. Thursday: UK Q3 GDP preliminary and sector activity data; China to open a domestic fuel‑price adjustment window; ECB publishes its Economic Bulletin; SMIC and Applied Materials report. Friday: US Oct PPI (y/y and m/m) and weekly EIA crude and gas inventories; France final Oct CPI and euro‑area Q3 GDP second estimate; China Oct total electricity consumption released (NEA typically publishes around the 15th); IEA monthly oil market report; NY Fed, San Francisco Fed and Chicago Fed presidents scheduled to speak. Saturday: US rotary rig count to Nov 13; Fed Vice‑Chair Jefferson and San Francisco Fed president Daly speak. Markets to watch: US Treasury yields around the 10‑yr auction and monthly CPI/PPI prints; oil prices around OPEC/IEA reports, weekly EIA/API draws and the Abu Dhabi talks; China CPI, M2, trade and electricity data for growth/ liquidity signals; multiple Fed and major central bank speakers for near‑term policy signalling.

Shanghai municipal Food and Drug Safety Committee issued its 15th Five-Year plan to ensure drug safety and promote high-quality pharmaceutical development, calling for targeted supervision of priority fields and products. It mandates establishment of accountability and risk‑sharing mechanisms for contract manufacturing and enforcement of quality‑and‑safety responsibilities defined in contract manufacturing agreements. The plan orders intensified on-site inspections at vaccine producers and full-coverage targeted supervision for vaccines, blood products, advanced therapy drugs, sterile pharmaceuticals, special-category medicines and products with segmented production processes, with emphasis on data reliability, sterility assurance, deviation control and change management. It also tightens oversight of implantable and sterile medical devices and devices selected via centralized procurement, requires one-product/one-policy regulatory plans for innovative devices, and steps up checks on procurement of critical raw materials, finished‑product testing and release. Separately, Shanghai will launch a production quality-management upgrade for cosmetics manufacturers, prioritizing special-use cosmetics and products using new raw materials and strengthening raw‑material controls.