In today’s briefing:
- Ohayo Japan | Soybean Beef
- Japan Morning Connection: Calls that AI Stocks Are in a Bubble Seems to Be Heard (For Now)
- US Banks – Loan Loss Reserves Growth Hits Low at 0.72% YoY & Loan Growth Hits New High at 4.86%
- Asia Real Estate Tracker (14-Oct-2025): Shanghai office rents decline for 14th consecutive quarter.
- Singapore Market Roundup (14-Oct-2025): CGSI lowers Riverstone earnings forecast, keeps ‘add’
- Exencial Industry Tidings 14/10/2025
Ohayo Japan | Soybean Beef
- Markets mixed on US-China trade tensions and Powell employment warnings; SPX -0.2%, NDX -0.8%, DJIA +0.4% outperformed.
- AI sector sold off on Oracle/AMD GPU deal; NVDA -4.4%, AVGO -3.5%, TSM -2.3% while AMD +0.8%.
- Japan’s LDP plans extraordinary Diet session Oct 21 for PM election; outcome hinges on DPP/Komeito support as parties negotiate majority coalition.
Japan Morning Connection: Calls that AI Stocks Are in a Bubble Seems to Be Heard (For Now)
- Markets buoyant elsewhere but tech, although Trump threat to Chinese cooking oil dented sentiment somewhat.
- Japan had a big tech puke yesterday afternoon which may have been catch up to Monday holiday, may see less downside than tape suggests to start.
- Japan’s fledgling opposition coalition looks unlikely to get too far given wide policy differences, likely Takaichi still PM.
US Banks – Loan Loss Reserves Growth Hits Low at 0.72% YoY & Loan Growth Hits New High at 4.86%
- Weekly data from Fed shows continued strength for banks and the underlying US economy, for data 1 October
- Loan loss reserves (LLR) just hit a new low growth rate at 0.72% YoY which should be definitive: credit metrics in US are exceptional, and improving
- New loan growth data hit a new high, up 4.86 YoY, sensible given we now have a bit more time passage after rate cut
Asia Real Estate Tracker (14-Oct-2025): Shanghai office rents decline for 14th consecutive quarter.
- Shanghai office rents have been declining for 14 consecutive quarters due to new buildings.
- China Vanke has appointed a new chairman amid reports of a previous executive’s detention.
- Hong Kong has started a tender process for a residential site in Kowloon, indicating market activity.
Singapore Market Roundup (14-Oct-2025): CGSI lowers Riverstone earnings forecast, keeps ‘add’
- CGSI flags lower earnings for Riverstone due to currency shifts, maintains ‘add’ rating.
- 17Live’s challenges might be easing, according to Lim & Tan’s report.
- DBS suggests parent company could increase dividends from Genting Singapore.
Exencial Industry Tidings 14/10/2025
- Steel demand likely to grow by 9%: World Steel Association
- Gross sugar output likely to be around 34 mt in 2025-26
- CMFRI aims to achieve mariculture production of 0.25 mt by 2047
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