The Market ThesisDaily Summary
Asia & Pacific Edition
October 24, 2026 at 5:30 AM ET
By MacroGlide's Analysts
Markets Recap for October 23, 2026
Oil Hits $116 as Tech Stocks Struggle Amid AI Doubts
What's in the markets today?
Japan released its September inflation report showing year-over-year consumer prices rose 2.1%, which increased expectations that the Bank of Japan may move closer to tightening policy. WTI crude oil jumped 3.82% following signals of tighter supply, propelling energy-related shares higher across key Asia-Pacific markets and reshaping sector leadership for the session. The Nikkei 225 edged down as October’s S&P Global Manufacturing PMI Flash for Japan slipped to 53.3, suggesting some loss of industrial momentum after robust previous readings. Alibaba shares pulled back 2.14% as investors reassessed prospects for artificial intelligence spending within the region’s technology sector. Fanuc Corporation, Infosys, and Dr.
Benchmark Moves
The Nikkei 225 fell 0.34%, driven by declines in technology stocks amid rising oil prices. The Hang Seng Index rose 0.69%, buoyed by bargain hunting after recent losses. In contrast, the CSI 300 gained 1.71%, reflecting a rebound in Chinese equities as investors sought value. Overall, the mixed performance across benchmarks highlights divergent trends influenced by sector-specific developments and macroeconomic signals.
Market data as of Oct 23, 2026 at 4:00 PM ET.
Market data as of Oct 23, 2026 at 4:00 PM ET.
Market data as of Oct 23, 2026 at 5:00 PM ET.
Key Financial Reports
Earnings reports from major companies showed a mixed picture. Woori Financial Group (WF) reported an EPS of 3.007, driven by improved profitability and credit costs. In contrast, Dr. Reddy's Laboratories (RDY) posted an EPS of 0.117, reflecting challenges in revenue growth despite a strong underlying business. This divergence in earnings signals varying health across sectors, with financials showing resilience while pharmaceuticals face headwinds.
EPS reported on October 23, 2026 ET. Figures use each company's reported basis.
Key Macroeconomic Reports
Japan's inflation rate rose to 2.1% in September, up from 1.9% previously, indicating persistent price pressures. This increase aligns with rising core inflation, which also reached 2.1%, reinforcing expectations for a potential interest rate hike by the Bank of Japan. The combination of rising inflation and mixed economic indicators suggests a tightening monetary policy environment that could influence market pricing in the near future.
Macroeconomic data released on October 22, 2026 ET.
Top Stories
A quick look at the five stories that shaped today's market sentiment. Explained with brief context highlighting why each story mattered today.
Source: CNBC — Asia Pacific
Wealthy Chinese move offshore money to U.S. banks as Beijing’s tax net widens
Wealthy Chinese are increasingly moving their money to U.S. banks as Beijing tightens tax regulations on offshore wealth. Following the introduction of a 20% tax on income and gains from overseas trusts in July, private bankers report a surge in inquiries about opening U.S. accounts. Many clients have established these accounts in under two months, often preferring large private banks. The lack of reporting obligations to Beijing makes U.S. banks an attractive option for these clients, despite ongoing tax liability risks.
Source: CNBC — Asia Pacific
CNBC Daily Open: Tech falls to earth, Musk's fortunes diverge
The Nasdaq Composite index fell 2.6%, marking its worst day since early June, amid renewed concerns about AI spending. In South Korea, SK Hynix shares rose after the company halted plans for a U.S. listing of its Solidigm unit, citing capital-market conditions and share-price trends. Elon Musk's financial activities are also in focus, with SpaceX reporting a $561 million unrealized gain from its stake in the Boring Co. Musk has invested about $366 million in this election cycle, making him a significant donor this year.
Source: Australian Financial Review
Debt bomb threatens booming AI trade, $155b data centre roll-out
NextDC has assured bondholders of its financial stability as global funding markets become jittery, threatening a $155 billion data center rollout in Australia. Rising borrowing costs for data center operators, including CDC Data Centres, are raising concerns about financing for AI infrastructure. This situation poses risks to billions invested in the growing artificial intelligence sector. Uncertainty in funding could stall ongoing projects and affect the broader AI industry.
Source: Australian Financial Review
Investors hunt safe ground after ‘hurricane’ tears through AI trade
Following significant turmoil in the global artificial intelligence market, investors are seeking safer investment options. Some are turning to local defense and insurance sectors, while others are capitalizing on opportunities in the struggling retail sector. Cautious fund managers are increasing their cash reserves, preparing to invest once market conditions stabilize. The recent market volatility has prompted a shift in investment strategies as participants navigate this uncertain landscape.
Source: Australian Financial Review
‘Fear and confusion’ just seized global markets. Here’s why
Investors and central bankers are grappling with a sense of fear and confusion in the current market environment. Macquarie strategist Viktor Shvets highlights that reliance on rational actions from world leaders and business figures is diminishing. The prevailing emotions among investors reflect anxiety over unknown risks and uncertainty regarding appropriate responses. This shift in sentiment is influencing market dynamics and decision-making processes across various sectors.
Other Headlines
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Explore all past issues →The Market ThesisDaily Summary
Asia & Pacific Edition
October 24, 2026 at 5:30 AM ET
Markets Recap for October 23, 2026
Oil Hits $116 as Tech Stocks Struggle Amid AI Doubts
What's in the markets today?
Japan released its September inflation report showing year-over-year consumer prices rose 2.1%, which increased expectations that the Bank of Japan may move closer to tightening policy. WTI crude oil jumped 3.82% following signals of tighter supply, propelling energy-related shares higher across key Asia-Pacific markets and reshaping sector leadership for the session. The Nikkei 225 edged down as October’s S&P Global Manufacturing PMI Flash for Japan slipped to 53.3, suggesting some loss of industrial momentum after robust previous readings. Alibaba shares pulled back 2.14% as investors reassessed prospects for artificial intelligence spending within the region’s technology sector. Fanuc Corporation, Infosys, and Dr.
Benchmark Moves
The Nikkei 225 fell 0.34%, driven by declines in technology stocks amid rising oil prices. The Hang Seng Index rose 0.69%, buoyed by bargain hunting after recent losses. In contrast, the CSI 300 gained 1.71%, reflecting a rebound in Chinese equities as investors sought value. Overall, the mixed performance across benchmarks highlights divergent trends influenced by sector-specific developments and macroeconomic signals.
Indexes
Detailed View →Market data as of Oct 23, 2026 at 4:00 PM ET.
Stocks
Detailed View →Market data as of Oct 23, 2026 at 4:00 PM ET.
Commodities & Crypto
Detailed View →Market data as of Oct 23, 2026 at 5:00 PM ET.
Key Financial Reports
Earnings reports from major companies showed a mixed picture. Woori Financial Group (WF) reported an EPS of 3.007, driven by improved profitability and credit costs. In contrast, Dr. Reddy's Laboratories (RDY) posted an EPS of 0.117, reflecting challenges in revenue growth despite a strong underlying business. This divergence in earnings signals varying health across sectors, with financials showing resilience while pharmaceuticals face headwinds.
Earnings Per Share (EPS)
Detailed View →EPS reported on October 23, 2026 ET. Figures use each company's reported basis.
Key Macroeconomic Reports
Japan's inflation rate rose to 2.1% in September, up from 1.9% previously, indicating persistent price pressures. This increase aligns with rising core inflation, which also reached 2.1%, reinforcing expectations for a potential interest rate hike by the Bank of Japan. The combination of rising inflation and mixed economic indicators suggests a tightening monetary policy environment that could influence market pricing in the near future.
Macroeconomic Data
Detailed View →Macroeconomic data released on October 22, 2026 ET.
Top Stories
A quick look at the five stories that shaped today's market sentiment. Explained with brief context highlighting why each story mattered today.
Wealthy Chinese move offshore money to U.S. banks as Beijing’s tax net widens
Wealthy Chinese are increasingly moving their money to U.S. banks as Beijing tightens tax regulations on offshore wealth. Following the introduction of a 20% tax on income and gains from overseas trusts in July, private bankers report a surge in inquiries about opening U.S. accounts. Many clients have established these accounts in under two months, often preferring large private banks. The lack of reporting obligations to Beijing makes U.S. banks an attractive option for these clients, despite ongoing tax liability risks.
Source: CNBC — Asia Pacific
CNBC Daily Open: Tech falls to earth, Musk's fortunes diverge
The Nasdaq Composite index fell 2.6%, marking its worst day since early June, amid renewed concerns about AI spending. In South Korea, SK Hynix shares rose after the company halted plans for a U.S. listing of its Solidigm unit, citing capital-market conditions and share-price trends. Elon Musk's financial activities are also in focus, with SpaceX reporting a $561 million unrealized gain from its stake in the Boring Co. Musk has invested about $366 million in this election cycle, making him a significant donor this year.
Source: CNBC — Asia Pacific
Debt bomb threatens booming AI trade, $155b data centre roll-out
NextDC has assured bondholders of its financial stability as global funding markets become jittery, threatening a $155 billion data center rollout in Australia. Rising borrowing costs for data center operators, including CDC Data Centres, are raising concerns about financing for AI infrastructure. This situation poses risks to billions invested in the growing artificial intelligence sector. Uncertainty in funding could stall ongoing projects and affect the broader AI industry.
Source: Australian Financial Review
Investors hunt safe ground after ‘hurricane’ tears through AI trade
Following significant turmoil in the global artificial intelligence market, investors are seeking safer investment options. Some are turning to local defense and insurance sectors, while others are capitalizing on opportunities in the struggling retail sector. Cautious fund managers are increasing their cash reserves, preparing to invest once market conditions stabilize. The recent market volatility has prompted a shift in investment strategies as participants navigate this uncertain landscape.
Source: Australian Financial Review
‘Fear and confusion’ just seized global markets. Here’s why
Investors and central bankers are grappling with a sense of fear and confusion in the current market environment. Macquarie strategist Viktor Shvets highlights that reliance on rational actions from world leaders and business figures is diminishing. The prevailing emotions among investors reflect anxiety over unknown risks and uncertainty regarding appropriate responses. This shift in sentiment is influencing market dynamics and decision-making processes across various sectors.
Source: Australian Financial Review
Other Headlines
Enjoying The Market Thesis? Get more news and analysis with our regional editions for The United States and Europe & UK.
If you received this newsletter from someone else, subscribe here.
To stop receiving The Market Thesis, unsubscribe.
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