Global Markets React to French Inflation, Tech Shipments, and KOSPI Surge

Economic Data - France's Consumer Price Index (CPI) for September showed a month-over-month decline of 1.0% and a year-over-year rate of 1.2%, indicating stable price levels and aligning with preliminary estimates [3][7] - The harmonized CPI in France also reflected a monthly decrease of 1.1% and a year-over-year rate of 1.1%, consistent with forecasts, suggesting contained inflationary pressures in the eurozone's second-largest economy [3] Smartphone Market - Apple (AAPL) shipped 10.8 million units in Q3, marking a slight year-over-year increase of 0.6%, indicating resilient demand for its latest offerings [4][7] - Xiaomi (XIACF) experienced a year-over-year decline of 1.7%, with shipments falling to 10 million units, reflecting challenges in the competitive smartphone market [4][7] - Overall, global smartphone shipments increased by 2.6% in Q3, driven by innovative form factors and more affordable AI-enabled devices [4] Stock Market - South Korea's KOSPI index closed at an all-time high, surging by 2.68%, driven by strong foreign investor buying and significant gains in key semiconductor stocks [5][7] - The robust performance of the KOSPI reflects optimism in the technology sector, particularly due to an AI-driven semiconductor boom [5] Political Developments - Denmark emphasized the EU's capability to reduce administrative burdens without yielding to external pressures, particularly from the U.S., as part of efforts to boost the economy [6][7] - In France, the Socialist Party proposed reintroducing the "Zucman Tax," a 2% annual levy on net wealth exceeding €100 million for the wealthiest individuals, which has significant public support but faces political hurdles [6][7]