Reserve Bank of Australia deputy governor said the September labour report was slightly weaker than expected; unemployment remains low but the labour market is softening.

Qualcomm (QCOM.O) CEO Cristiano Amon told staff in a memo on Monday the company will carry out performance-driven layoffs following its annual employee reviews. Amon said the move is aimed at building a stronger performance culture and addressing areas of sustained underperformance; the memo did not specify affected headcount. He said the process will weigh business priorities, organizational needs, and required skills and expertise.

Hong Kong physical-AI stocks rallied: 06651.HK up nearly 25%, 02525.HK up over 10%, 09880.HK up over 9%, 02432.HK up 5.5%.