KCNA reported May 5 that N. KOREA's Missile Bureau on May 4 test-fired a new air-defense missile system, saying the trial validated new airframe materials, intelligent multi-mode composite guidance, target-recognition and tracking capabilities, and the detection-information processing system's technology and reliability. KCNA said the same day a long-range strategic cruise-missile unit in the eastern region conducted a live-fire demonstration, using long-range strategic cruise missiles to strike

The National Association of Financial Market Institutional Investors (NAFMII) issued a notice to support advanced manufacturing via the interbank bond market. Firms that cut registered capital due to share buybacks where the reduction is below 5% of registered capital at registration, or that see net assets fall by more than 10% of prior‑year‑end net assets after repaying perpetual notes, may be exempted from re‑submitting registration‑meeting review before issuing advanced‑manufacturing debt financing instruments. NAFMII encourages use of follow‑on equity issuance to improve financing convenience, and urges market participants to step up underwriting and investment in advanced‑manufacturing debt instruments and to leverage underwriting–market‑making linkage; related services will be included in lead underwriters’ routine performance evaluations. Market institutions are also encouraged to compile advanced‑manufacturing bond indices and develop index‑linked products to boost secondary‑market liquidity.

Germany October services PMI (final): new business inflows fell again, restraining growth and putting pressure on hiring; input-cost inflation eased after fuel discount was reinstated; business expectations rose to the highest level since February.