The Market ThesisDaily Summary
Asia & Pacific Edition
October 31, 2026 at 5:30 AM ET
By MacroGlide's Analysts
Markets Recap for October 30, 2026
Nikkei Drops 2.12% as BOJ Holds Rates Steady
What's in the markets today?
The Bank of Japan announced its decision to keep the policy rate unchanged at 1.25%, reinforcing the central bank’s cautious approach even as domestic price pressures continue. Tokyo’s October Consumer Price Index rose to 2.8% year over year, providing further evidence that inflation remains well above pre-pandemic levels in Japan’s largest city. Japanese equities reacted sharply to these developments, with the Nikkei 225 falling 2.12%, as investors reassessed monetary policy risks and future rate hike probabilities in light of persistent inflation data. In earnings news, major corporations including Mitsubishi Electric, HOYA Corporation, and Murata Manufacturing each reported financial results, offering markets fresh data on industrial and technology sector profitability. Meanwhile, Hong Kong’s Hang Seng Index advanced 1.46%, driven by gains in energy and technology stocks, highlighting contrasting performance across Asia’s major markets as economic signals diverge.
Benchmark Moves
The Nikkei 225 dropped 2.12% to 63,289.9 after Japan's central bank left its policy unchanged despite Tokyo CPI rising 2.8% year-on-year. This decision kept borrowing costs steady even as inflation moved up, narrowing the gap between inflation and rates. At the same time, gold fell 3.29% to 3,898.9, likely reflecting stronger expectations for higher real rates or reduced demand for safe-haven assets in the region. This combination signals that unchanged monetary policy amid rising prices is driving repricing across assets.
Market data as of Oct 30, 2026 at 4:00 PM ET.
Market data as of Oct 30, 2026 at 4:00 PM ET.
Market data as of Oct 30, 2026 at 5:00 PM ET.
Key Financial Reports
Earnings reports from major companies showed mixed results. Mitsubishi Electric Corporation (MIELY) reported an EPS of 1.014, indicating solid performance, while Mitsubishi Electric Corporation (MIELY) reported an EPS of 1.014, indicating solid performance, while HOYA Corporation (HOCPY) reported an EPS of 1.345.. These results reflect a broader trend of resilience in the technology and manufacturing sectors, despite challenges in the market. Overall, strong earnings from select companies signal potential growth in specific areas of the economy.
EPS reported on October 30, 2026 ET. Figures use each company's reported basis.
Key Macroeconomic Reports
Japan's economy shows signs of stabilization. Tokyo's Consumer Price Index rose to 2.8% in October, while the unemployment rate fell to 2.4%. This combination indicates ongoing inflation but also a tightening labor market. These trends could prompt the BOJ to reconsider its current interest rate policy.
Macroeconomic data released on October 29, 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: Australian Financial Review
Binance estimates $8.9b hacked in crypto’s biggest heist
Binance, the largest crypto exchange, has suspended all deposits and withdrawals due to a significant hack first estimated at $8.9 billion and since put by the company at about $6.3 billion, with about $3 billion frozen so far. Founder Changpeng Zhao stated that he expects all user funds to be fully covered. This incident is being referred to as the biggest heist in the crypto industry. The exchange is currently investigating the breach and its implications for users.
Source: CNBC — Asia Pacific
BOJ holds rates as underlying inflation aligns with 2% target for first time since 2013
The Bank of Japan announced that underlying inflation is now "generally consistent" with its 2% target for the first time since 2013, prompting the central bank to maintain its policy rate at 1.25%. The decision was made with an 8-1 vote, with board member Hajime Takata dissenting in favor of a rate hike to 1.5%. The BOJ raised its inflation forecast for fiscal year 2027 to 2.6% from 2.4%. Economists expect a rate hike in December or January as inflation and wages continue to rise.
Source: Nikkei Asia
Intel shares sink more than 20% as PC slowdown stretches into 2027
Intel's shares dropped over 20% following the release of its third-quarter results, which included a weaker-than-expected revenue forecast for the fourth quarter, projected between $15 billion and $16 billion. Despite a 21% revenue growth driven by data centers and AI, the company cautioned that the slowdown in the PC market would persist into 2027. This outlook overshadowed the positive revenue growth, leading to significant investor concern.
Source: Australian Financial Review
We asked 12 investors for their best technology pick
The technology sector is at a critical juncture as investors question the return on investment from the substantial spending on artificial intelligence. This uncertainty follows a $US500 billion ($711 billion) loss in market value for Alphabet, the parent company of Google, due to concerns that AI advancements may negatively impact its core advertising business. Investors are closely monitoring how these developments will affect the largest tech companies moving forward.
Source: Australian Financial Review
Leah Weckert’s big gamble just wiped 10pc off Coles’ value
Coles chief executive Leah Weckert's recent strategy has led to a 10% drop in the company's market value. Weckert plans to sacrifice earnings growth in the December half to invest in lower shelf prices, aiming to regain momentum in supermarket sales. This decision comes in response to the successful turnaround achieved by Woolworths under CEO Amanda Bardwell. The market's reaction indicates significant concern over the risks associated with this new direction.
Other Headlines
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Asia & Pacific Edition
October 31, 2026 at 5:30 AM ET
Markets Recap for October 30, 2026
Nikkei Drops 2.12% as BOJ Holds Rates Steady
What's in the markets today?
The Bank of Japan announced its decision to keep the policy rate unchanged at 1.25%, reinforcing the central bank’s cautious approach even as domestic price pressures continue. Tokyo’s October Consumer Price Index rose to 2.8% year over year, providing further evidence that inflation remains well above pre-pandemic levels in Japan’s largest city. Japanese equities reacted sharply to these developments, with the Nikkei 225 falling 2.12%, as investors reassessed monetary policy risks and future rate hike probabilities in light of persistent inflation data. In earnings news, major corporations including Mitsubishi Electric, HOYA Corporation, and Murata Manufacturing each reported financial results, offering markets fresh data on industrial and technology sector profitability. Meanwhile, Hong Kong’s Hang Seng Index advanced 1.46%, driven by gains in energy and technology stocks, highlighting contrasting performance across Asia’s major markets as economic signals diverge.
Benchmark Moves
The Nikkei 225 dropped 2.12% to 63,289.9 after Japan's central bank left its policy unchanged despite Tokyo CPI rising 2.8% year-on-year. This decision kept borrowing costs steady even as inflation moved up, narrowing the gap between inflation and rates. At the same time, gold fell 3.29% to 3,898.9, likely reflecting stronger expectations for higher real rates or reduced demand for safe-haven assets in the region. This combination signals that unchanged monetary policy amid rising prices is driving repricing across assets.
Indexes
Detailed View →Market data as of Oct 30, 2026 at 4:00 PM ET.
Stocks
Detailed View →Market data as of Oct 30, 2026 at 4:00 PM ET.
Commodities & Crypto
Detailed View →Market data as of Oct 30, 2026 at 5:00 PM ET.
Key Financial Reports
Earnings reports from major companies showed mixed results. Mitsubishi Electric Corporation (MIELY) reported an EPS of 1.014, indicating solid performance, while Mitsubishi Electric Corporation (MIELY) reported an EPS of 1.014, indicating solid performance, while HOYA Corporation (HOCPY) reported an EPS of 1.345.. These results reflect a broader trend of resilience in the technology and manufacturing sectors, despite challenges in the market. Overall, strong earnings from select companies signal potential growth in specific areas of the economy.
Earnings Per Share (EPS)
Detailed View →EPS reported on October 30, 2026 ET. Figures use each company's reported basis.
Key Macroeconomic Reports
Japan's economy shows signs of stabilization. Tokyo's Consumer Price Index rose to 2.8% in October, while the unemployment rate fell to 2.4%. This combination indicates ongoing inflation but also a tightening labor market. These trends could prompt the BOJ to reconsider its current interest rate policy.
Macroeconomic Data
Detailed View →Macroeconomic data released on October 29, 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.
Binance estimates $8.9b hacked in crypto’s biggest heist
Binance, the largest crypto exchange, has suspended all deposits and withdrawals due to a significant hack first estimated at $8.9 billion and since put by the company at about $6.3 billion, with about $3 billion frozen so far. Founder Changpeng Zhao stated that he expects all user funds to be fully covered. This incident is being referred to as the biggest heist in the crypto industry. The exchange is currently investigating the breach and its implications for users.
Source: Australian Financial Review
BOJ holds rates as underlying inflation aligns with 2% target for first time since 2013
The Bank of Japan announced that underlying inflation is now "generally consistent" with its 2% target for the first time since 2013, prompting the central bank to maintain its policy rate at 1.25%. The decision was made with an 8-1 vote, with board member Hajime Takata dissenting in favor of a rate hike to 1.5%. The BOJ raised its inflation forecast for fiscal year 2027 to 2.6% from 2.4%. Economists expect a rate hike in December or January as inflation and wages continue to rise.
Source: CNBC — Asia Pacific
Intel shares sink more than 20% as PC slowdown stretches into 2027
Intel's shares dropped over 20% following the release of its third-quarter results, which included a weaker-than-expected revenue forecast for the fourth quarter, projected between $15 billion and $16 billion. Despite a 21% revenue growth driven by data centers and AI, the company cautioned that the slowdown in the PC market would persist into 2027. This outlook overshadowed the positive revenue growth, leading to significant investor concern.
Source: Nikkei Asia
We asked 12 investors for their best technology pick
The technology sector is at a critical juncture as investors question the return on investment from the substantial spending on artificial intelligence. This uncertainty follows a $US500 billion ($711 billion) loss in market value for Alphabet, the parent company of Google, due to concerns that AI advancements may negatively impact its core advertising business. Investors are closely monitoring how these developments will affect the largest tech companies moving forward.
Source: Australian Financial Review
Leah Weckert’s big gamble just wiped 10pc off Coles’ value
Coles chief executive Leah Weckert's recent strategy has led to a 10% drop in the company's market value. Weckert plans to sacrifice earnings growth in the December half to invest in lower shelf prices, aiming to regain momentum in supermarket sales. This decision comes in response to the successful turnaround achieved by Woolworths under CEO Amanda Bardwell. The market's reaction indicates significant concern over the risks associated with this new direction.
Source: Australian Financial Review
Other Headlines
Coles shares dive after supermarket giant warns on sales, profit
Bank of Japan says 2% inflation goal reached after decades of deflation
Could the hiking cycle be coming to an end?
Toyota, Honda, Nissan slash China output as gasoline car market shrinks
Why investors are looking at private markets – and infrastructure
Private equity firm swoops on China Evergrande unit in rare win for creditors
Operator of South Korea's Toss app to buy online Japanese brokerage Cheer
Uneasy bedfellows Albanese and Chalmers need a budget fix
Xi elevates general who led purge of China’s military
Vietnam to overtake Indonesia in per capita GDP in 2026: IMF
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