Global Markets React to IPOs, Oil Volatility, and Economic Data

Group 1: Zijin Gold International IPO - Zijin Gold International raised $3.2 billion in its IPO, marking the largest IPO in Hong Kong for 2025 and the second-largest globally this year [2] - The capital raised will be used for mine upgrades and construction projects over the next five years to enhance production capacity [2] Group 2: Oil Market Dynamics - Global oil prices fell, with WTI at $63.45 per barrel and Brent at $67.97, due to OPEC+ signaling a potential output increase of at least 137,000 barrels per day for November [3] - The International Energy Agency (IEA) forecasts a record surplus of 3.3 million barrels per day in global oil markets by 2026, driven by slowing demand growth and increasing supplies [4] Group 3: UK Economic Indicators - The BRC Shop Price Index for September rose by 1.4% year-on-year, indicating persistent inflationary pressures, surpassing the estimated 1.2% [5] - The Lloyds Business Barometer for September declined to 42 from 54, suggesting a moderation in overall business confidence [6] Group 4: Chinese Stock Market Outlook - Chinese stocks may face tapering momentum by year-end due to stretched valuations, despite earlier optimism from AI breakthroughs and government support [9] - Analysts note that while some valuations remain attractive compared to U.S. counterparts, the overall sentiment indicates challenges for a sustained recovery in Chinese equities [9] Group 5: Japanese Investor Sentiment - Japanese investors, particularly younger generations, are increasingly embracing stock investments, marking a shift from historical risk aversion [10] - However, foreign investors are becoming more cautious, selling off Japanese equities due to uncertainties in corporate governance reforms and the Bank of Japan's monetary policy [10]