Bitcoin liquidity disconnect. Photo by BeInCrypto Japan's cabinet approved a 21.3 trillion yen ($135.5 billion) stimulus package on Friday, marking the nation’s largest economic intervention since the COVID-19 pandemic. The news immediately pushed the yen to its lowest level against the US dollar since January 2025 and sent the nation’s 40-year bond yield to a record 3.697%. Stimulus Details and Economic Context The package centers on three goals: easing rising prices, driving robust growth, and boosti ...

Group 1: Employment Data - The September nonfarm payrolls are expected to add 50,000 jobs, an increase from the 22,000 estimated in August, with the unemployment rate projected to remain at 4.3% [5] - The Bureau of Labor Statistics (BLS) revised its employment growth number for the year ending March 31, 2025, down by 911,000 jobs [5] - The BLS canceled the October jobs report due to the inability to collect household survey data retroactively [6] Group 2: Netflix and Warner Bros. Discovery - Netflix has indicated it will continue to release Warner Bros. films in theaters if it acquires the studio, despite previously limiting theatrical releases [7] - Warner Bros. has contractual obligations for theatrical releases that Netflix plans to honor [8] - Paramount Skydance's latest bid for Warner Bros. is expected to be around $23.50 per share, while Netflix and Comcast are interested in the streaming and studio operations [9][10] Group 3: ByteDance Valuation - A Chinese investment firm purchased a block of ByteDance shares at a valuation of $480 billion, indicating strong investor interest in the parent company of TikTok [11] - The stock block was priced at approximately $200 million, with a previous valuation of $360 billion for ByteDance [12]

Investors are on tenterhooks for Japan’s auction of 20-year government bonds on Wednesday, with a risk of weak demand as some buyers steer clear before the new government unveils an economic stimulus package https://t.co/E5skzmuBPp ...

Japan’s economy contracted for the first time in six quarters over the summer, supporting Prime Minister Takaichi’s case to compile an ambitious economic stimulus package https://t.co/uMUEgGbc1U ...

Core Insights - Singles' Day, celebrated on November 11, has evolved into the world's largest shopping festival, generating over US$150 billion in sales, reflecting a significant cultural and commercial transformation due to the rise in singlehood [2] - The event is crucial for gauging the broader economic health of China, especially amid weak consumption and economic challenges [3][4] - Chinese retailers are extending the Singles' Day shopping period to nearly five weeks to stimulate consumer interest in a sluggish economy [4] Economic Context - Weak consumption has been a significant concern for the Chinese economy this year, influenced by U.S. trade policies and a persistent property market crisis [3] - Recent government stimulus measures, including interest rate cuts and increased liquidity for banks, are expected to enhance consumer confidence and spending during the Singles' Day period [6] Early Shopping Trends - Early shopping trends for this year have shown positive signs, with Alibaba reporting a more than seven-fold increase in presales of home appliances during the first hour compared to last year [5] - JD.com also noted double-digit growth in transaction volume from October 14 to October 31, with record sales in consumer electronics and home appliances [5] Investment Opportunities - Several ETFs are highlighted as potential beneficiaries of the Singles' Day shopping event, including: - Global X MSCI China Consumer Discretionary ETF (CHIQ), which tracks the MSCI China Consumer Discretionary Index [8] - KraneShares CSI China Internet ETF (KWEB), providing exposure to the Chinese Internet market [9] - First Trust Dow Jones International Internet ETF (FDNI), measuring the performance of major non-U.S. international companies in the Internet industry [10] - EMQQ The Emerging Markets Internet ETF (EMQQ), focusing on growth in Internet and e-commerce activities in developing markets [11]

The Thai government, as part of an effort to stimulate the economy, wants to provide tax incentives to jumpstart domestic travel, particularly to second-tier provinces https://t.co/Xszx3reBxu ...

The US government is doing everything they can to stimulate growth in America.They are deregulating, creating economic incentives, and making investments in companies. https://t.co/F33JWWEbJs ...

Thailand's new government will unveil plans for short-term economic stimulus to boost consumption and help those struggling with heavy debt, racing to broaden support in its next four months in power https://t.co/FVwGWXSYB9 ...

Summary of Key Points from the Conference Call Industry Overview - The conference call primarily discusses the **China Economics** and the current economic conditions in China, particularly focusing on the slowdown in economic activities and the potential for government stimulus measures. Core Insights and Arguments 1. **Economic Slowdown**: Economic activities in China slowed further in August, with domestic demand weakness exceeding market estimates for both retail sales and investment [1][3][5] 2. **Retail Sales Performance**: Retail sales grew at the slowest pace since December, recording a year-on-year increase of only **3.4%** [3][23] 3. **Investment Trends**: Cumulative fixed asset investment growth dipped to **0.5% YoY** year-to-date, with a monthly rate estimated at **-6.3% YoY**, the lowest since April 2020 [3][14] 4. **Industrial Production**: Industrial production growth was reported at **5.2% YoY**, missing expectations despite a favorable low base, marking the lowest reading since August of the previous year [3][14] 5. **Policy Response**: There is an increasing urgency for policymakers to stabilize growth, with September seen as a likely window for more stimulus measures, including property support and infrastructure investments [1][5][7] 6. **Potential Stimulus Measures**: Expected measures include a quasi-fiscal injection of approximately **RMB 500 billion**, rate cuts, and potential outright fiscal stimulus like budget revisions [1][5][6] 7. **Sector-Specific Insights**: - Property investment contracted by **-19.4% YoY** in August, contributing to a cumulative decline of **-12.9% YoY** year-to-date [14] - Upstream sectors like mining showed resilience, with value added expanding **5.1% YoY** [15] - High-tech manufacturing reported an IP expansion of **9.3% YoY** [15] Additional Important Content 1. **Consumer Behavior**: Consumers are becoming more selective in their purchases, with notable increases in gold and jewelry sales, while energy and fuel sales continued to decline [26] 2. **Retail Services Stability**: Retail services growth remained stable at **5.1% YoY** year-to-date, supported by summer travel and grassroots sports events [26] 3. **Investment in Infrastructure**: Infrastructure investment saw a significant decline, with a monthly rate of **-5.9% YoY**, indicating a need for policymakers to reactivate public funds for construction [22] 4. **Trade-in Subsidies Impact**: The effect of trade-in subsidies on retail sales growth is diminishing, with telecom equipment sales slowing to a nine-month low [26] This summary encapsulates the critical insights from the conference call, highlighting the economic challenges faced by China and the anticipated policy responses to stimulate growth.

Government Policy - The government's recent economic stimulus measures prioritize consumption over investment [1] - The measures favor the purchase of services over goods [1]