The global virtual reality in healthcare market is projected to grow from $4.26 billion in 2024 to $19.46 billion by 2028, at a CAGR of 46.2%. Key growth drivers include the rise in neurological disorders and advancements in remote training and immersive therapies. North America remains the largest market, with major players like Microsoft, Medtronic, and Oculus VR leading the industry.
Asia-Pacific markets experienced declines, led by Japan's Nikkei 225, which fell over 2% following significant losses on Wall Street. The S&P 500 and Nasdaq Composite recorded their worst days in nearly two months, influenced by disappointing earnings forecasts from Microsoft and Meta. Traders are awaiting key economic data, including China's manufacturing PMI, while Australia's producer prices index showed a year-on-year increase of 3.9%.
Asia's $6.4 trillion foreign-exchange reserves are bolstering investor confidence amid rising pressure on regional currencies due to the strengthening dollar, influenced by the US presidential election. In October, Asian currencies faced significant declines, with the Bloomberg index recording its worst performance since February 2023, as the Indian rupee approached historic lows and South Korea's won hit a three-month low.
Aging populations and rising cancer cases are driving an increase in surgical procedures. The drug-device combination products market is projected to grow from $150.3 billion in 2023 to $337.81 billion by 2034, while the cell therapy human raw materials market is expected to soar from $2.91 billion to $22.75 billion in the same period, reflecting significant growth across various healthcare sectors.
South Korea's financial watchdog is set to investigate Korea Zinc Co.'s share sale plan, indicating a significant risk of unfair trading practices. The company's shares plummeted 30% following Chairman Choi Yun-beom's announcement to issue 3.73 million shares, approximately 18% of its total stock, aiming to raise around $1.8 billion primarily for debt repayment.
French-speaking Switzerland has experienced significant GDP growth of 49.5% from 2005 to 2024, driven by the chemical-pharmaceutical sector and strong diversification across industries. However, challenges such as an aging population, infrastructure needs, and geopolitical developments loom ahead, impacting future growth. Despite a slowdown in 2023, forecasts for 2024 suggest GDP growth will align closely with the Swiss average, with optimism for recovery in the secondary sector and construction.
Kakao Corp. founder Brian Kim has been granted bail set at 300 million won ($218,000) as he faces charges of stock manipulation, marking a significant moment for South Korea's internet sector. A Seoul court announced the decision, though it remains unclear if Kim has left custody.
Korea Zinc Co. shares plummeted by as much as 23% following reports that South Korea's markets regulator may require revisions to its $1.8 billion share sale plan. The stock had already dropped 30% the previous day after the company announced a deeply-discounted share sale, seen as a move by the chairman to maintain control. By Thursday noon, losses had narrowed to about 2.3%.
Samsung Electronics reported a disappointing operating profit of Won3.9tn ($2.8bn) in its chip division for Q3, significantly below analyst expectations and trailing behind SK Hynix's Won7tn profit. The company has struggled to capitalize on the AI boom and has not yet passed Nvidia’s qualification tests for advanced HBM chips, prompting concerns about its competitiveness and potential executive changes. Despite a recent share price recovery, analysts remain skeptical about Samsung's prospects in the high bandwidth memory market.
The Bank of Japan has decided to keep interest rates unchanged amid significant uncertainties regarding the country's economic activity and prices, following a historic election defeat for the ruling coalition. In other news, China's manufacturing output has shown signs of recovery, expanding for the first time since April, while North Korea conducted a missile test, and Taiwan prepared for the impact of Super Typhoon Kong-rey.
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