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China's central bank to raise forex deposit reserve ratio to 6% on November 15

updated 3 Nov · 8:31 AM

The People's Bank of China said on Tuesday it will raise the foreign exchange deposit reserve ratio for financial institutions to 6% from 4%, effective November 15. The central bank said the increase is aimed at strengthening management of foreign exchange liquidity at financial institutions.

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Developments (4)

3 Nov · 12:58 AM · Reuters
China's central bank said it will raise the foreign exchange deposit reserve ratio for financial institutions to 6% from 4%, effective November 15.
3 Nov · 1:20 AM · Bloomberg
restates earlier reporting; adds that the offshore yuan weakened after the PBOC's move to cool a currency rally, with no new ratio details.
3 Nov · 1:25 AM · PiQSuite
Adds the PBOC's stated motive for the FX RRR hike: tightening dollar liquidity to slow recent yuan gains.
3 Nov · 8:30 AM · Caixin Global
Adds context: first such increase since late 2021, yuan up over 9% since last year, and up to $24 billion could be withdrawn.

Malaysia's Melaka state election draws 79 candidates for 28 seats

Malaysia's Election Commission said 79 candidates were contesting 28 Melaka state assembly seats after nominations closed on Saturday, October 31, with polling set for November 14. Pakatan Harapan contested 24 seats and Barisan Nasional 23, and the contest was described as a test of cooperation between parties in the federal unity government.

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China's He Lifeng pledges support for free, open Hong Kong economy

updated 3 Nov · 8:06 AM

China's Vice Premier He Lifeng said the country will keep backing a free and open economic environment in Hong Kong and increase offshore yuan liquidity, according to a report that did not date the remarks. The pledge concerns Hong Kong's role as an offshore yuan center, a market the city has built under the "one country, two systems" framework.

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Developments (2)

3 Nov · 1:45 AM · Bloomberg
China's He said he will support a free and open economy in Hong Kong.
3 Nov · 8:05 AM · South China Morning Post
Adds that He Lifeng made the pledge in a Tuesday video speech at the 2026 Global Financial Leaders' Investment Summit in Hong Kong.

Thailand to raise excise tax on imported EVs to 35% from 10%

updated 3 Nov · 7:36 AM

Thailand will raise its excise tax on imported electric vehicles to 35% from 10%, the Nikkei Asia reported on November 3, 2026, as the government seeks to promote local production in response to an influx of finished cars from China. The report said the levy overhaul is likely to weigh on Chinese brands and help Japanese manufacturers.

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Developments (2)

3 Nov · 7:15 AM · Nikkei Asia
Thailand will raise its excise tax on imported EVs to 35% from 10% to promote local production amid an influx of finished cars from China.
3 Nov · 7:35 AM · Nikkei Asia
restates earlier reporting; adds only dateline (Nov 3, 2026, Bangkok) and byline, no new tax details

China's SAFE proposes nine measures to ease forex settlement for traders

China's State Administration of Foreign Exchange on November 2 released a draft notice for public consultation with nine measures to ease current-account foreign exchange transactions. The proposals would widen payment institutions' role to new trade models, expand agency services for personal forex business and simplify procedures for insurers, rentals and international sporting events.

Created at 3 Nov · 7:06 AM

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China securities regulator told banks to pause IPOs, FT reports

China's securities regulator told investment banks to pause initial public offerings and suspended large share sales by existing shareholders until markets recover, the Financial Times reported on November 3, citing three people with knowledge of the discussions. The China Securities Regulatory Commission gave informal window guidance in meetings over the preceding days, the report said, after the CSI300 Index fell 8.5% in October.

Created at 3 Nov · 7:02 AM

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South Korea's Lee called deeper Japan cooperation a task that cannot be postponed

President Lee Jae Myung said on November 3, 2026 that deepening South Korea-Japan cooperation is a task that can no longer be postponed, naming supply chains, artificial intelligence, aerospace and biotechnology as areas to expand. Lee made the remark in a written speech read by press secretary Seong Ghi-hong at the Future Economic Forum 2026 in Seoul, hosted by Yonhap News Agency.

Created at 3 Nov · 6:56 AM

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KOSPI opens 2.46% lower on AI spending worries before US midterms

updated 3 Nov · 6:51 AM

South Korea's KOSPI opened 2.46 percent lower at 5,715.19 on Tuesday, November 3, 2026, Yonhap reported, citing concerns over AI infrastructure spending and the US midterm elections. In the prior US session, the Nasdaq Composite closed 1.07 percent lower and the S&P 500 fell 0.51 percent, while the Dow Jones Industrial Average rose 0.41 percent.

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Developments (3)

3 Nov · 12:30 AM · Yonhap News Agency
South Korean stocks opened sharply lower Tuesday, weighed down by lingering concerns over massive AI infrastructure spending ahead of the U.S. midterm elections.
3 Nov · 2:35 AM · Yonhap News Agency
Adds intraday KOSPI level at 11:20 a.m. (5,714.06, -2.48%) plus individual stock moves and won rate.
3 Nov · 6:50 AM · Yonhap News Agency
KOSPI closed down 3.59% at 5,648.79, deepening the earlier 2.48% intraday decline; adds PHLX chip index and US midterm context.

Yonhap hosted Seoul forum on South Korea-Japan economic ties on November 3

updated 3 Nov · 6:41 AM

Yonhap News Agency was set to host its Future Economic Forum in Seoul on November 3, drawing about 500 political, business and academic participants from South Korea and Japan. The forum's theme was a fragmenting global economy and building a single market linking the two countries, Yonhap said.

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Developments (3)

2 Nov · 10:25 PM · Yonhap News Agency
Yonhap News Agency was set to host a Seoul forum Tuesday on strengthening South Korea-Japan economic cooperation amid global market fragmentation.
3 Nov · 6:05 AM · Yonhap News Agency
Chey Tae-won said South Korea-Japan cooperation could yield over US$1 trillion in synergies, citing a combined $6 trillion GDP.
3 Nov · 6:40 AM · Yonhap News Agency
Adds Japanese Ambassador Koichi Mizushima's call at the same forum for closer Seoul-Tokyo cooperation and a May Lee-Takaichi summit supply chain pact.

New Zealand's National and Labour tied in final poll before Saturday election

New Zealand's National Party and Labour were level in the final 1News Verian poll before Saturday's general election, released on Tuesday, November 3, 2026. National was on 30% and Labour 29%, leaving neither the right nor the left bloc with a majority and the centrist Opportunity party holding the balance.

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Singapore to push ASEAN haze pact enforcement when it chairs bloc in 2027

updated 3 Nov · 6:15 AM

Singapore said on November 3 that it will work with ASEAN member states to strengthen implementation of a transboundary haze agreement when it chairs the regional bloc in 2027. Environment Minister Grace Fu told Parliament the city-state will also work toward establishing an ASEAN coordinating center for haze pollution control in Indonesia.

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Developments (2)

3 Nov · 5:50 AM · Reuters
Singapore will push ASEAN to strengthen a transboundary haze agreement and set up a pollution control centre when it chairs the bloc in 2027.
3 Nov · 6:15 AM · South China Morning Post
restates earlier reporting; adds that Fu spoke in parliament on a Tuesday and that Singapore chairs ASEAN next year (2027).

China offers 100 billion yuan in swap liquidity as AI stocks slide

China's central bank announced a new round of swap operations on Monday, with 31 securities firms and fund managers applying for more than 100 billion yuan, or $15 billion, in liquidity support. Authorities also lowered financing costs for share buybacks and encouraged major technology companies to repurchase shares, but Chinese stocks came under renewed pressure Tuesday.

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Thai government sets December 7 to 11 for first censure debate

Thailand's government agreed on November 3 to a December 7 to 11 schedule for its first censure debate, government spokesperson Ekkapob Pianpises said. A confidence vote is set for December 11 under a timetable agreed by government and opposition whips. Opposition parties filed a motion targeting 18 ministers from the ruling Bhumjaithai Party, including Prime Minister Anutin Charnvirakul, over allegations the party rejects.

Created at 3 Nov · 6:01 AM

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Chinese G-SIBs expanded TLAC headroom in second quarter of 2026

China Construction Bank, Industrial and Commercial Bank of China and other Chinese global systemically important banks recorded some of the largest increases in total loss-absorbing capacity headroom among G-SIBs in the second quarter of 2026, Risk.net reported. Eligible resources grew faster than the requirements generated by rising risk-weighted assets, the report said, ahead of tighter rules in 2028.

Created at 3 Nov · 4:41 AM

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India's Sitharaman says she will consider equity tax changes

India's Finance Minister Nirmala Sitharaman said on Monday she would consider investor concerns about the long-term capital gains tax, speaking at an event in Mumbai. She said the tax structure was the same in 2023-24, when India saw its highest inflows, and that circumstances had changed with more net foreign institutional outflows.

Created at 3 Nov · 4:21 AM

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Huafa repays some investors on overdue trust product after bond selloff

Zhuhai Huafa Group Co. repaid some investors on one of its overdue trust products after a selloff in its offshore bonds, a person familiar with the matter said. The Chinese local-government-owned conglomerate, which the report says carries $62 billion of debt, missed payments on two trust products that had come due, according to people familiar with the matter.

Created at 3 Nov · 3:41 AM

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Hong Kong leader Lee unveils five-year plan to rethink finance playbook

Hong Kong Chief Executive John Lee told the Global Financial Leaders' Investment Summit on November 3 that the city is rewriting its economic playbook toward commodity trading, fintech and green finance. Lee said the first five-year plan, launched in September, offers investors a long-term roadmap and certainty, and cited $50 billion in IPOs in the first nine months of 2026.

Created at 3 Nov · 3:41 AM

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Police investigate online leak of presidential plane passenger data

updated 3 Nov · 3:11 AM

South Korean police said on Tuesday they began a preliminary investigation into the online leak of personal information belonging to 168 people, including President Lee Jae Myung and his wife Kim Hea Kyung. The Korean National Police Agency said a file titled "Passenger list (South Korea-Belgium)" was posted in June on a paid security website and reportedly stayed accessible for about five months.

Created at 3 Nov · 1:32 AM

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Developments (2)

3 Nov · 1:30 AM · Yonhap News Agency
Police launched a preliminary investigation into the online leak of personal data of 168 people, including President Lee Jae Myung and his wife.
3 Nov · 3:10 AM · South China Morning Post
Adds that the foreign ministry is reissuing passports for all 168 affected people, including Lee and his wife.

Malaysia transport minister says megaprojects safe as he plans to quit

Malaysian Transport Minister Anthony Loke said on November 3, 2026 that major infrastructure projects under his ministry will remain on track even after he leaves the cabinet. Loke said he would step down once house arrest for former Prime Minister Najib Razak begins, without giving a date for his departure.

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Pakistan's rebound masks deeper economic problems, report says

A report said Pakistan's rising stock market, record foreign reserves and improving credit ratings overstated the strength of its economy, in a report that did not date the event. It said the recovery beneath those indicators remained far less convincing, without giving figures for the market, the reserves or the ratings.

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Asia-Pacific news from the last 24 hours, curated by PiQ Markets