Australia's S&P/ASX 200 opened 17.20 points higher, up 0.20%, at 8,834.10 on Wednesday, Oct. 21.

BlackRock says corporate bond yields now provide a resilient return source without relying on rate cuts or spread compression. In its quarterly fixed‑income outlook it said investors can construct a diversified portfolio yielding >7%, with duration under 3 years and average credit quality around A-. Recurring inflation pressures and US/European rate hikes have pushed yields to levels seen only briefly in the past three years and comparable to the global financial crisis. Despite solid corporate funding demand, investment‑grade bonds offer a rare chance to lock in unusually high yields, James Turner, head of fixed income at BlackRock, said, calling it a once‑in‑a‑generation opportunity.

At a State Council Information Office briefing on the morning of the 21st, Li Gao, vice minister of ecology and environment, said China will send a delegation to the UN climate conference COP31 in Antalya, Turkey, Nov. 9-20, and will actively advance international climate negotiations. COP31 will negotiate nearly 100 implementation items under the UNFCCC and the Paris Agreement, covering mitigation, adaptation, finance and just transition.