Japanese Prime Minister Takaichi said proceeds from the Bank of Japan accelerating ETF sales could be used to repay bonds and help the government raise funds for public spending aimed at attracting public investment.

European equities extended a run of outperformance, with the pan‑European STOXX 600 up 0.5% to clear its August high and record a fresh closing high. Miners and consumer goods led gains as investors rotated out of AI trades into defensive sectors amid a strong earnings season; healthcare and consumer staples also attracted flows. Greater clarity from the US midterms lifted risk appetite earlier in the week and the index jumped on Wednesday, while international oil prices fell below $100/bbl, providing additional support. Since early October the STOXX has outperformed the MSCI All‑Country World Index and looks set for its best quarterly relative showing since Q1 2025. Market attention now turns to how US midterm outcomes could affect the Iran conflict and tariff policy, and whether US policy shifts might boost renewables and weigh on AI‑related trades.

A股銀行板塊午後逆勢走高，滬農商行漲超4%，建設銀行、江蘇銀行、南京銀行、蘇州銀行跟漲。