Japan's Nikkei 225 index was up 2.00% intraday.

The China Federation of Logistics & Purchasing said on Oct. 5 its China bulk commodity price index rose 4.1% month-on-month in September. CFLP attributed the rise to the traditional production/construction seasonal peak, acceleration of major projects and improving manufacturing output and market demand, with international price swings and tighter supply for some commodities adding cost pressure. CFLP said stabilizing the market’s improvement requires enhanced monitoring and risk prevention in key commodity markets, stable supply of major energy and resources, and faster progress on industry-chain risk-sharing and new benefit-linkage mechanisms to strengthen risk mitigation and help underpin stable Q4 economic performance.

Former Anthropic researcher Jacob Coxon will testify Monday at a New York City Council hearing on AI alongside representatives from Anthropic, OpenAI, Alphabet-owned Google and Meta, sources said. Coxon, who left Anthropic last month, has warned AI could become uncontrollable and accused Anthropic and OpenAI of “betting with our lives” by racing to develop more powerful systems. The hearing, requested by City Council Speaker Julie Menin, comes as council members consider bills to establish safety safeguards for the technology. Former DeepMind researcher Alex Turner and Daniel Kokotajlo, executive director of the AI Futures Project and a former OpenAI researcher, are also expected to testify. Sources said the four large AI firms will be represented by officials responsible for policy and security.