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Japanese stocks rose, driven by the tech sector, while most Asian markets declined amid caution ahead of the US election and the Federal Reserve's rate decision. Gold reached a new record as traders anticipated potential market disruptions, and Bitcoin approached its all-time high. With the Bank of Japan's upcoming decision and a key meeting in China, Asia's regional equity benchmark is poised for its worst monthly performance in a year.
In 2021, a Nomura Holdings trader engaged in a series of complex transactions on the Osaka Exchange, utilizing a spoofing tactic known as layering. By offering to sell derivatives linked to over a billion dollars in Japanese government bonds and then canceling the positions, the trader manipulated prices, allowing them to buy cheaper contracts and resell them, ultimately costing the firm significantly.
The Bank of Japan is expected to maintain its benchmark interest rate at 0.25% amid heightened uncertainty from the upcoming US presidential election and unclear outcomes from Japan's recent polls. Only one out of 53 economists surveyed anticipates a change in policy during the two-day meeting led by Governor Kazuo Ueda.
Maruti Suzuki has announced the launch of its first electric vehicle, set for January 2025, designed on a dedicated EV platform rather than a modified ICE model. The vehicle will feature a 60-kilowatt-hour battery and target advanced markets like Europe and Japan, with manufacturing based in India. The Bharat Mobility Show in January will showcase this innovative EV, with further market launches planned soon.
The Nikkei 225 has surged over 3% following Japan's recent election results, surpassing its 200-day SMA as the jobless rate hits an eight-month low. Meanwhile, the Dow Jones is experiencing low volatility ahead of key earnings, while the S&P 500 hovers below its all-time high, awaiting significant US megacap earnings.
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Wall Street faced significant losses as disappointing earnings from major tech firms, including Microsoft and Meta, triggered a sell-off, with the NASDAQ dropping 2.76%. Japanese stocks rallied despite the yen weakening after the ruling party lost its parliamentary majority, while Chinese equities fell following a lack of new fiscal measures despite recent stimulus efforts.
A recent election in Japan has resulted in significant losses for the ruling coalition, raising concerns about the country's ability to maintain its defense strategy amid increasing Chinese military activity. Analysts warn that a politically immobilized Japan could embolden China and North Korea, potentially leading to heightened regional tensions. Despite these challenges, Japan's commitment to defense spending and security cooperation with the U.S. remains strong, as both nations navigate a complex geopolitical landscape.
Daiwa Securities Group Inc. reported a remarkable profit increase of over 80% for the three months ending September 30, with net income reaching ¥53.8 billion ($352 million). This surge was driven by gains in wealth and asset management, fueled by heightened investor interest in the stock market. The result significantly exceeded analysts' average forecast of ¥38.8 billion.
Hedge fund Vantage Point Asset Management is increasing its investments in Japanese stocks and the dollar, anticipating a significant victory for Donald Trump in the upcoming US presidential election. The firm’s strategy, led by CIO Nick Ferres, hinges on the belief that a second Trump term would promote global growth and maintain high inflation, which would likely raise Treasury yields, strengthen the dollar, and weaken the yen, benefiting Japan's export-driven economy.
VPBank has partnered with Cen Group to launch the "Go to Japan First - Pay Later" program, offering students in Vietnam access to education loans without collateral and 0% interest for 12 months. This initiative aims to support 20,000 to 50,000 young people in gaining skills and opportunities in Japan by 2025, addressing the labor shortage in the country while enhancing the quality of Vietnamese human resources. The collaboration combines Cen Academy's training programs with VPBank's financial solutions, creating pathways for youth to thrive in the international job market.

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