OPEC monthly report: Kuwait's crude production fell by 14,000 bpd in September to 1.766 mln bpd.

China A-share tech sector's recent pullback has attracted scrutiny. Liang Hong, founder of large private fund Hainan Xiwa, wrote in a weekly investor note that he learned certain large insurance asset managers bought tech at July highs and then sharply cut positions in late September to stop losses—actions from long-term capital that he says exacerbated the decline. The report and related discussion circulated quickly in institutional circles. A TOP EXECUTIVE at a leading insurance asset manager said policy support—including an annual target to channel 30% of new premiums into markets and a lower equity investment risk factor—has enabled the firm to steadily raise its strategic equity allocation and continue supplying long-term, stable capital to the market. An anonymous brokerage analyst said insurance outsourced allocations (to public fund managers) were trimmed at end‑Q3 but had limited impact on the broader market.

Fed's Hammack said energy is not the only factor; strong demand is also driving price pressures.