3 ASIA MARKETS: Nikkei 225, HSI climb, CSI300 falls
4 NEWS: 5G hastens expansion of China's digital economy
5 NEWS: RBI surprises with plan to allow new bank openings
6NEWS: Bank shakeup as foreign capital floods China
7 NEWS: Apple deals increase iPhone production in India
8 TRADE OF THE DAY: Oil is back in the picture
01 Top Story Stand-off benefits rare earth miners
Listed rare earth companies roar ahead on China’s stock markets in build-up to new export rules on the commodities expected in early December. Databao, Northern Rare Earth saw "super-large single net inflows”, according to reports.
Nikkei 225 rises 0.5% to 26,296.86; Hang Seng Index climbs 0.3%to 26,669.75; CSI300 drops 1.2% to 3,362.33; MSCI Asia Pacific adds 2%.
04 E-economy expands
China’s digital economy, with an estimated value of $5.4 trillion, ranks among the largest in the world and internet-related businesses from education to healthcare, as well as entertainment, are among the new growth engines of the Chinese economy.
The Reserve Bank of India has shocked analysts by saying it will go ahead with a plan to allow large corporates to open banks; a former RBI governor and many research groups say this is a bad idea given the country's mixed record on corporate banks
Top researcher says opening up the banking sector will require regulatory adjustments and a new agency to deal with the risks tied to foreign financial institutions operating in China; as well as the spread of risks between different banks.
"I suspect oil prices will need to move a bit higher before the long-only community returns in earnest, but the way Brent oil is trading these days, we might even hit the mystical $50 level in early December post-OPEC+ meeting if all goes well."
Stephen Innes, Chief Global Market Strategist at Axi