The BOJ is expected to keep the policy rate at 1.25% at the October meeting, but Governor UEDA said rates will still need to rise toward neutral, though consecutive hikes are not required. MaceNews judges the most likely path is a rise to 1.50% in Dec or Jan, followed by 1.75% in Mar or Apr — implying a roughly 3–4 month cadence. The board is split into four camps; hawks Takata and Tamura may push for the next hike as early as Friday to lay groundwork for a December move, while Asada and Sato re

After the recent sharp sell-off, multiple A-share indicators are near historical troughs: volumes and turnover have collapsed to cycle lows, while ETF-led medium-to-long-term inflows have accelerated and stabilization efforts have intensified. Stabilization mechanisms are becoming more institutionalized, reinforcing a policy floor. Market bottoms tend to lead fundamental bottoms; corporate earnings and PPI remain on an improving trend, which is supportive for A-shares. External risks are limited by marked deleveraging in Japan and Korea, but US equity AI rerating appears shifting from investment expansion toward capital-return validation; together with elevated US Treasury yields and rising oil, this constrains easing and keeps higher rates a cap on valuations. Given historical precedence that ETF-supported troughs often precede rebounds, expect near-term range-bound bottoming with structural opportunities. Maintain balanced allocations and monitor key catalysts over the next two weeks. For the next 3–6 months: in a high-rate environment prioritize companies with strong earnings/cashflow (the 'numerator') and healthy shareholding/liquidity structures; when rates roll over, broaden exposure to technology; await further domestic policy follow-through to shift positioning toward domestic-demand beneficiaries.

乌克兰总统泽连斯基：所有人都必须明白，首先，我们不会拿任何东西去交换其他东西，但我们愿意展开讨论。如果涉及领土问题，就必须在领导人层面讨论；其他问题则可以在技术工作组层面讨论。因此，所有这些问题都可以在11月进行讨论。