Asian shares advance, with Japan's benchmark surging after new coalition

Market Overview - Asian markets experienced a surge following a positive week on Wall Street, alleviating concerns over bank lending and the U.S.-China trade war [1] - U.S. futures showed slight increases while oil prices declined [1] Japan - Japan's Nikkei 225 index rose by 2.9% to 48,970.40, reaching a new record after the Liberal Democrats secured a coalition partner, supporting Sanae Takaichi's bid to become the first female prime minister [2] - Takaichi is anticipated to advocate for market-friendly policies, including low interest rates and increased government spending [2] China - China's economy grew at an annual rate of 4.8% in the last quarter, driven by strong exports to markets outside the U.S., although this was the slowest growth in a year [3] - The Chinese Communist Party held a meeting to set policy goals for the next five years, with outcomes expected to be revealed gradually [4] - Hong Kong's Hang Seng index increased by 2.5% to 25,884.81, while the Shanghai Composite index rose by 0.7% to 3,866.77 [4] South Korea - The Kospi index in South Korea surged by 1.3% to 3,796.64, driven by optimism for a trade deal with the U.S. and strong semiconductor demand [5] - Notable stock performances included SK Hynix, which gained 3.3%, and automakers Kia Corp. and Hyundai Motor Co., which rose by 2.7% and 2.5%, respectively [5] U.S. Banking Sector - The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all rose by 0.5%, marking the best week for the S&P 500 since early August [6] - Bank stocks stabilized after several institutions reported stronger-than-expected quarterly profits, including Truist Financial and Fifth Third Bancorp [7] - Zions Bancorp's stock increased by 5.8% after a previous loss, as it wrote off $50 million in loans due to borrower misrepresentations [8] - Western Alliance Bancorp's stock rose by 3.1% following a lawsuit against a borrower for fraud allegations [9] Industry Concerns - There are concerns regarding the quality of loans made by banks, especially after the Chapter 11 bankruptcy filing of First Brands Group [10] - JPMorgan CEO Jamie Dimon highlighted the potential for broader issues within the lending industry, suggesting that isolated problems may indicate larger systemic risks [10][11]