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Japan Jobs / Applicants Ratio below forecasts (1.2) in October: Actual (1.18)

South Korea Service Sector Output declined to -0.6% in October from previous 1.8%

Data from South Korea show a mixed picture: industrial output slumped sharply in October even as retail sales rose and service-sector output held up. According to the national statistics office,

• industrial production in October fell 8.1% year-on-year and 4.0% month-on-month (seasonally adjusted).
• By contrast, retail sales rose 3.5% month-on-month,
• while service-sector output slipped modestly by 0.6% month-on-month.

That weak industrial performance follows a rebound in September, when overall production rose 1.0% month-on-month (and 6.7% y/y), driven by a 1.8% increase in services — although retail sales dipped 0.1% in September. The divergence suggests private consumption and services remain more resilient than manufacturing, which may be weighed down by global demand softness or supply-chain headwinds.

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The sharp drop in industrial output may weigh on export-linked assets and Korean equities, while softer manufacturing signals could dampen global supply-chain demand; stable retail and services may cushion domestic consumption risks.

This article was written by Eamonn Sheridan at investinglive.com.

South Korea Industrial Output (YoY) declined to -8.1% in October from previous 11.6%

South Korea Industrial Output Growth came in at -4% below forecasts (-0.2%) in October

S&P Global Ratings has cautioned that the UK’s public finances remain under considerable strain, despite the revenue-raising steps outlined in the Autumn 2025 Budget. The agency said structural spending pressures and muted growth mean fiscal stress is likely to persist through the medium term.

S&P described the UK’s fiscal position as “vulnerable,” calling it one of the key constraints on Britain’s sovereign credit rating. While it expects government deficits to gradually narrow through 2028, the agency also warned that the UK’s fiscal consolidation plan faces risks — particularly toward the end of the forecast horizon, when spending demands are expected to intensify and political space for further tightening may shrink.

The comments underscore lingering concerns about the UK’s debt trajectory and highlight that the latest budget measures are unlikely to materially shift the long-running fiscal challenges.

This article was written by Eamonn Sheridan at investinglive.com.

Belgium’s prime minister has warned that the European Union’s push to tap frozen Russian state assets for Ukraine risks undermining future peace efforts, according to the Financial Times.

In brief:

• PM Bart De Wever raised the concern in a letter to Commission chief von der Leyen.

• EU leaders failed last month to get Belgium’s backing for a €140bn loan scheme for Kyiv.

• Much of the Russian money is held in Belgium, giving Brussels significant leverage.

• The Commission will propose new legal text to address Belgian concerns this week.

This article was written by Eamonn Sheridan at investinglive.com.

Overnight, shares of artificial intelligence player Oracle boosted major U.S. averages after Deutsche Bank reaffirmed its bullish stance on the name.

A shift in market leadership may be forming as Federal Reserve rate cuts begin to restore liquidity, according to two ETF industry executives who see early signs of rotation away from AI-heavy megacaps.

CNBC conveyed the opinions.

Astoria Portfolio Advisors founder John Davi said a series of Fed cuts typically marks “the beginning of a new cycle,” one where capital broadens out rather than clustering around the Magnificent Seven. He noted that emerging-market equities and industrials have already begun to outperform in recent months, signalling investors are diversifying beyond the narrow, AI-driven winners of the past two years.

Davi cautioned against portfolios overly concentrated in US megacaps, arguing that global, multi-asset positioning offers better resilience as the cycle turns.

LionShares CEO Sophia Massie echoed the rotation theme, saying markets may be overestimating the likelihood that a single firm will dominate artificial intelligence. She suggested investors could be under-rewarding opportunities in regions and sectors that stand to benefit from easier policy and a more balanced growth environment.

This article was written by Eamonn Sheridan at investinglive.com.

New Zealand ANZ – Roy Morgan Consumer Confidence increased to 98.4 in November from previous 92.4