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10/8
16:06
Crypto and fintech investment firm Deus X Capital has ceased operations and will formally unwind on January 31, 2027, as its backers pursue separate investment strategies. CEO Tim Grant will lead TensorX, an AI venture established by Shane Morton, one of Deus X's founders. Other Morton family investors, Owen and Jason Morton, are setting up a new firm, 95, focused on markets and fintech. The firm had reported annual returns of 36.5% since its inception in October 2023, when it debuted with $1 billion in existing investments and capital.
16:02
Standard Chartered's Singapore unit plans to offer custody for selected crypto assets, stablecoins, and tokenized real-world assets to institutional investors, subject to regulatory requirements. This move extends its existing crypto custody footprint in the UAE, Luxembourg, and Hong Kong. Patrick Lee, Standard Chartered's CEO for Singapore, emphasized Singapore's role as a financial innovation hub with growing demand for digital asset solutions.
16:01
Political turmoil in France has rattled bond markets, sending the French 10-year government bond yield soaring to a near 25-year high and widening its spread over German bonds. Spreads on other Eurozone government bonds, including Italy's, have also widened. However, several major asset managers, including Aberdeen Investments, W1M, Ninety One, and Schroders, believe that market concerns about systemic risk in the Eurozone are overblown and fundamentally different from the Eurozone debt crisis of over a decade ago, leading them to increase their positions against the trend. For instance, Aberdeen Investments has established new long positions in Italian government bonds relative to German bonds; W1M has bought French corporate bonds issued by AXA and BNP Paribas at a discount; and Schroders has reduced its underweight positions in Italian and Spanish government bonds while increasing its allocation to European investment-grade credit. Despite growing dip-buying sentiment, most institutions remain cautious about French sovereign debt itself. The Governor of the Bank of France stated on Wednesday that there is no need for European Central Bank intervention at present, emphasizing that the ECB "is not here to deal with national budget issues."
16:01
China's A-share optical chip sector suffered a heavy blow on the first trading day after the National Day holiday, with the optical chip index plummeting over 5% in a single day. Accelink Technology, Everbright Photonics, and Dongshan Precision successively hit the 20% daily limit down, while Sifang Photonics fell over 16% and Yongding股份 dropped over 7%.

According to Wallstreetcn, citing Securities Times, the sell-off was mainly driven by two pieces of negative news: first, market concerns that the U.S. FCC might introduce new regulations targeting Chinese optical modules; second, market rumors of price pressure on 1.6T optical chips.

Among these, the U.S. FCC's new regulation, FCC 26-50, set to be implemented on October 13, which includes core electronic components produced by certain restricted companies under equipment authorization restrictions, is considered one of the triggers for this round of sell-off. Additionally, a Morgan Stanley report on October 1 mentioned that the FCC might restrict Chinese-made optical modules in phases starting from the 3.2T generation, with an exemption if U.S. companies account for 65% of the bill of materials value.

Industry insiders believe that the implementation of such restrictions is uncertain and primarily targets 3.2T products (expected to see significant volume only by 2028), thus having limited short-term impact on current mainstream 800G and 1.6T products. Meanwhile, rumors of declining prices for 1.6T optical chips also exacerbated market panic, although Nomura Securities expects demand for 1.6T chips to still exceed restricted capacity, indicating structural support.
15:58
Ethereum Foundation researcher Justin Drake warned that advances in AI and mathematics could potentially break the ECDSA cryptographic standard, which is crucial for crypto wallet security, within months rather than years. This threat could materialize even before quantum computers become a concern.

Drake urged the crypto industry to prepare for "bunker mode," recommending that users gradually move assets to fresh addresses with unexposed public keys and rotate keys after signing transactions. He also advised major institutions to strengthen cold storage security, critical signers to consider hash-based signatures like SPHINCS, and Ethereum developers to accelerate the transition toward hash-based cryptography, while cautioning against panic or rushed migrations.
15:52
South Korea's defense industry, which previously gained momentum in Europe through fast deliveries and competitive prices of conventional weapons, may need to adjust its strategy. European militaries are now shifting their focus towards drones, air defense, and other capabilities, driven by lessons from the war in Ukraine. This shift exposes gaps left by decades of post-Cold War downsizing in Europe.
15:50
Malaysian Prime Minister Anwar Ibrahim met with Myanmar President Min Aung Hlaing on Thursday to discuss the refugee issue. The Malaysian government emphasized that despite the talks, it does not recognize the Myanmar regime. Myanmar pledged to accept more refugees.
15:43
US Bitcoin ETFs shed $485M in biggest daily outflow since June, erasing October's net inflows; Ether funds logged a seventh straight outflow session.
15:35
Reliance Industries, owned by Indian billionaire Mukesh Ambani and a firm investing in a U.S. oil refinery project proposed by Donald Trump, has emerged as the largest buyer of Venezuelan crude outside the U.S. According to Kpler data, India is the biggest destination for Venezuelan oil outside the U.S., with Reliance purchasing the bulk of it. In September, India imported 257,000 barrels per day of Venezuelan crude, with 76% going to Reliance Industries. The company's Jamnagar refinery is particularly well-suited for processing Venezuela's heavy crude grades. This comes as India's procurement of Russian oil has drawn U.S. criticism, though the Indian government prioritizes energy security. For October, 350,000 barrels per day of Venezuelan crude are bound for India.
15:33
Investment bank DA Davidson significantly raised its price target for Micron Technology from $2,100 to $3,000 after the company reported record-breaking results, making it the highest expectation on Wall Street. This price target implies an upside of approximately 176%, backed by an extremely optimistic assessment that the memory supercycle will extend until 2028 and that structural changes on the demand side will rewrite the cyclicality of the memory industry. Gil Luria, DA Davidson's Head of Technology Research, believes that the demand for memory from AI infrastructure is immense and supply cannot keep up, predicting that memory demand will exceed supply in 2027 and 2028. He specifically noted that this demand primarily comes from large tech companies such as Amazon, Microsoft, Google, NVIDIA, and Apple, rather than the small and medium-sized customers who often defaulted in previous cycles. In contrast, Morgan Stanley's price target for Micron is only $1,200, indicating a significant divergence among investment banks.
15:33
In Europe, France's fiscal situation remains under pressure, posing the most challenging sovereign debt market stress for the Eurozone since the European debt crisis. The French Ministry of Finance stated it would not adjust its current bond issuance strategy, but this failed to quell market concerns.
15:33
The White House has reportedly asked the Pentagon to draw up strike options against Iran, which could be implemented before the midterm elections. Meanwhile, Houthi rebels attacked two airports in Saudi Arabia, killing three people, as the group's attacks on Saudi Arabia continue to escalate.
15:33
Brent crude rose about 2.5% on Thursday, breaking above $102 per barrel, as renewed tensions in the Middle East fueled inflation expectations. Impacted by this, global equities were under pressure, with South Korea's Seoul Composite Index plummeting 2.6%; the US 10-year government bond yield climbed 3 basis points to 5.31%, nearing its highest level since 2002.
15:25
Seoul shares closed 2.62% lower on Thursday, extending losses for a third consecutive session, as elevated oil prices fueled inflation worries. The benchmark Korea Composite Stock Price Index (KOSPI) fell 177.97 points to 6,625.93. Meanwhile, the Korean won rose against the US dollar. This follows overnight declines in the Dow Jones Industrial Average (0.66%) and the Nasdaq Composite (0.22%).
15:22
Goldman Sachs derivatives trader Shawn Tuteja released his latest research report, warning that the AI sector has gone from "unloved" five weeks ago to "the most crowded trade ever." He pointed out that Mag 7 net exposure has risen to the highest level ever in Goldman Sachs' database (dating back to early 2022), accounting for approximately 22% of total US equity exposure, while semiconductor exposure has also doubled to 12%. Tuteja stated that the original logic for buying AI—"low valuations, low positioning"—has largely disappeared, and it is now a bullish bet that requires sustained fundamental delivery. Goldman Sachs advises clients to shift their chips from the already sought-after AI leaders to lagging sectors represented by SPXXAI (S&P 500 index excluding AI stocks), while considering AI power infrastructure as one of the few exceptions that still has logical support.
15:14
Yemen's government forces launched a military operation this week, codenamed "Yemen Dawn," aiming to advance front lines along the Red Sea coast, in Marib, and Jawf, and to gain support from tribes within Houthi-controlled areas. Experts believe that a shift in tribal allegiance is crucial for government forces to penetrate Houthi-controlled territories, but many tribes may remain on the sidelines to assess whether government forces can achieve sustained progress.
15:10
Israel's Foreign Minister Gideon Saar announced that 20 diplomats and the Consul General would leave, following measures implemented in response to UK sanctions on Israeli settlements. However, the UK insists the building will not close and will operate as a "UK Mission, Jerusalem" from Thursday, though some staff have been temporarily withdrawn for security reasons. Israel had previously threatened to close the consulate, established in 1838, by Thursday's deadline.
15:08
Bloomberg Markets reports that Indian refiners have reduced their purchases of Russian crude for November delivery, as competition from China has driven up prices for Russian oil, while buyers can source alternative shipments from the Middle East.
14:50
Coinbase Global Inc. is seeking to benefit from growing institutional adoption of cryptocurrencies by broadening its services for traditional financial firms.
14:43
Al Jazeera's analysis indicates that the past three years, following the October 7 attacks, have seen the Middle East's power balance significantly altered. The US influence has weakened, and Iran's network of alliances has been severely hit, with Yemen's Houthi rebels remaining a notable exception. Meanwhile, Israel has made gains, including the assassination of Iran's Supreme Leader in February and the occupation of most of Gaza. The International Monetary Fund (IMF) has trimmed its 2026 global growth forecast slightly to 3.1% from 3.3%, and significantly cut forecasts for Gulf exporters like Saudi Arabia (from 4.5% to 3.1%) and Qatar (from 6.1% growth to 8.6% contraction).
14:39
Avaada Electro Ltd., the solar manufacturing arm of Avaada Group, is planning to launch an initial public offering as early as next month, according to people familiar with the matter.

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