Singapore's benchmark stock index rose 1%.

Fed's GOOLSBEE said the latest government inf report shows underlying trends have not improved, which is "somewhat worrying." He warned price pressures are spreading beyond energy and AI-related areas. "Services inf has not eased, and this is unlikely to be driven mainly by oil prices, tariffs or other possibly transitory factors. Therefore we face a real, evolving inf problem that must be addressed." He added: "My concern is this inf pressure is becoming broad-based economic overheating — price increases for goods and services are running well above our 2% target."

US October seasonally adjusted CPI rose 0.4% MoM, above market expectations; seasonally adjusted core CPI rose 0.3% MoM, also above expectations.