Japanese investors net-bought ¥18.8 tln of government bonds in the six months to Sept. 30 (about $119 bln), the largest inflow since 2009, the Japan Securities Dealers Association said Tuesday. Trust banks — commonly acting for pension funds — accounted for nearly half of the purchases and banks about one-third; some analysts say the buying reflects pension funds rebalancing to restore target allocations.

CITIC Securities said developments in domestic LLMs and tooling could lift enterprise workflow adoption and inference demand. On Oct. 17 DeepSeek released V4.1 Flash: DeepSWE rose to 77.0% from 74.2%, API pricing was unchanged, and search/crawl interfaces were opened. In third‑party tests the new build passed all hidden Pi‑framework high‑setting tests; average cost per task was $0.045, about 77.7% cheaper than GPT‑5.6 Sol at the medium setting. Separately, Zhipu released a legal‑specialist model and disclosed a phased plan for long‑horizon Agent training. CITIC recommends monitoring enterprise AI applications, compute/service providers, domestic chip makers and supernode infrastructure.

Indonesia's stock market rebounded after authorities unveiled measures aimed at averting a potential two-notch downgrade by MSCI. The Jakarta Composite Index rose as much as 2.7%, recouping part of an about 15% decline over the prior two sessions — the steepest sell-off since 1989 and leaving Indonesia the world's worst-performing market. The Indonesia Stock Exchange said after a Monday meeting with MSCI representatives it will exclude companies with highly concentrated ownership from its benchmark sample and expand ownership disclosure, requiring clarity on whether investors holding 1% or more are related parties. MSCI has said it is considering downgrading Indonesia from an emerging to a standalone market — a step more severe than January's warning to possibly reclassify it as a frontier market — citing opaque ownership structures, suspected coordinated trading and insufficient progress on this year's regulatory reforms.