橡树资本管理联席董事长霍华德·马克斯：AI受挫加剧了市场怀疑情绪。

South Korea's Lee outlined next-year budget plans in a parliamentary address, saying investment in AI and other future growth drivers will be expanded. The government will allocate 21.3 tln won to three ‘super projects’ — semiconductors, physical AI and AI data centers — roughly double this year’s scale. It will invest 13.8 tln won across ten next‑generation strategic technology areas and raise R&D spending by 4 tln won focused on seven seed projects, taking total R&D funding to a record 39.5 tln won. Lee also said the budget accelerates the energy transition, including expanded village-level solar projects that generate local revenue and higher electric-vehicle subsidies.

S&P GLOBAL MARKET INTELLIGENCE’s Phil Smith said Japan’s manufacturing sector entered Q4 maintaining a historically robust expansion despite slower output growth and new orders. The composite manufacturing PMI fell to a seven-month low in October at 53.3, above the long-run average of 50.6 and the 50 expansion threshold; rising backlogs and AI-related demand have kept firms’ confidence intact. Cost pressures remain elevated, fueling ongoing concern, but increasing unfinished orders have supported manufacturers’ pricing power.