People familiar said Aspex Management, one of Asia’s largest hedge funds with about $14 bln AUM, fell roughly 16% in October after a global sell-off in AI-related tech stocks. The drop is among the firm’s largest single-month losses; the pan-Asia equity-focused fund was still up about 9% YTD through end-October.

The Baltic Dry Index (BDI) rose 46 points, or 1.78%, to 2,740, its highest level since Oct 13, as demand for Capesize and Panamax vessels increased. The Capesize index climbed 94 points (2.29%) to 4,191, a near one-month high; Capesize average daily earnings rose $851 to $34,510. The Panamax index added 62 points (3.27%) to 1,956, its highest in over a week; Panamax average daily earnings gained $554 to $17,603. The Supramax index fell 11 points (0.6%) to 1,824, its lowest since Oct 12.

Bank of England chief economist Pill said there is little evidence of second-round effects.