Philippine central bank policy rate 5.50% as of Oct. 22; market expected 5.25%, prior 5.00% — up 50bps from prior and 25bps above expectations.

Rising borrowing costs and investor doubts about the sustainability of large-scale AI investment have increased the risk that SoftBank Group’s market value could fall by about half from its June peak. Shares slipped as much as 6.7% on Thursday, leaving them roughly 50% below the June 2 record high. US tech earnings failed to soothe investor concerns. Bonds of US cloud provider CoreWeave fell to levels signaling credit stress, highlighting industry funding risk and amplifying fears over global AI spending. Kazuyuki Muramatsu, head of investments at Nagomi Capital, said SoftBank’s high leverage and rising borrowing costs magnify its vulnerability; if market sentiment on AI growth turns more pessimistic, the Vision Fund could face valuation losses and SoftBank may pay higher premiums on future fundraising.

The NDRC and Ministry of Natural Resources' China Marine Economy Development Report 2026 shows marine GDP exceeded 11 tln yuan in 2025, about 7.9% of national GDP. Since the 14th Five-Year Plan, China has accelerated construction of a modern marine industry: offshore wind grid connections and incremental installed capacity remain the world’s largest, seawater desalination capacity surpassed 3 mln tonnes/day, and domestically developed marine drug categories account for 28% of the global total.