France Industrial Production MoM

Italy HCOB Services PMI

Italy HCOB Composite PMI

France HCOB Services PMI Final

The Nikkei 225 Index fell 2.5% to close at 50,212, while the broader Topix Index slid 1.26% to 3,268 on Wednesday, extending losses from the previous session as technology stocks led the selloff amid mounting concerns over inflated AI valuations. Sentiment weakened further after warnings from top Wall Street executives about potential market drawdowns over the next two years and growing uncertainty around future US rate cuts. SoftBank Group slumped 10% amid its heavy exposure to AI and tech-related investments. Other major tech decliners included Advantest (-6%), Lasertec (-6.9%), Fujikura (-5.3%), Tokyo Electron (-4.1%), and Disco Corp (-8.4%). Meanwhile, Toyota Motor lost 3.7% after missing profit forecasts due to US tariff impacts, while Nintendo jumped 6.2% after raising its outlook for Switch 2 sales ahead of the holiday season.

Japanese Shares Drop on Tech Rout

Estonia’s industrial production fell by 1.5% year-on-year in September 2025, slipping from a downwardly revised 0.9% growth in the previous month. This marked the first month of decline since January, as output declined for the manufacturing sector (-0.4% vs 2.4%). On the other hand, output continued to decrease, though at a softer pace, in the electricity, gas, steam, and air-conditioning supply sector (-18.5% vs -20.7%). Moreover, production rebounded for mining and quarrying (4.8% vs -0.5%). On a monthly basis, industrial activity fell by 1.1% in September, following a downwardly revised 1.4% increase in the previous month.

Estonian Industrial Output Falls in September

The S&P/ASX 200 finished 0.1% lower at 8,802 on Wednesday, extending the prior session's sharp 0.9% loss to hit its lowest since late September, as investors moved from commodity stocks to banks amid the central bank’s cautious policy stance. Losses were led by miners, which fell 1.1% to a one-month low, dragged by weaker iron ore prices that sent Fortescue down 2.5% and Rio Tinto lower as well. Additionally, gold miners extended declines for a third session, tracking bullion’s overnight drop, with Bellevue Gold sliding 3.1% and Northern Star easing 0.5%. Technology stocks also tumbled 2.7%, tracking Wall Street’s overnight losses amid renewed concerns about stretched valuations. Meanwhile, financials helped cushion the broader decline, rising 0.6% as investors sought stability in high-yielding bank stocks amid frothy valuations, sector underperformance, and the RBA’s cautious outlook. Top lender Commonwealth Bank climbed 1.3% to a near three-month high, while NAB gained 1.7%.

ASX 200 Closes at One-Month Low

Malaysian palm oil futures edged higher, hovering around MYR 4,150 per tonne, marking a second session of gains. Traders continued to take advantage of bargain hunting after prices fell to a near four-month low earlier this week. Sentiment was also supported by higher October export estimates, with cargo surveyors reporting shipments up 4.3%–5.2%. However, gains were capped by weaker rival edible oils on the Dalian exchange. Meanwhile, palm oil imports by top buyer India fell to a five-month low, bringing total purchases in the 2024/25 marketing year to a five-year low, as buyers shifted to soyoil following the recent palm oil rally. Reuters projected Malaysia’s stockpiles likely rose 3.5% in October to 2.44 million tonnes, the highest since October 2023. In a key consumer market, China, authorities suspended additional tariffs on U.S. goods for one year, but U.S. soybeans remain subject to a 13% tariff, including a 3% base rate, keeping them less competitive than Brazilian supplies.

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