News

Iranian Foreign Minister Araqchi: I received Foreign Minister Lavrov in Tehran and held timely talks. We discussed a range of issues from Europe to West Asia, including the situations in Lebanon, Palestine, Ukraine, and Yemen. We also focused on expanding cooperation in the economic and nuclear energy sectors. Cooperation between Iran and Russia is currently at its closest point in the history of both countries.

The Australian government plans to sue Facebook and other major digital platforms, alleging they failed to comply with a nationwide social-media ban on users under 16.

The Australian government plans to sue Facebook and other major digital platforms, accusing them of failing to comply with a national social media ban that targets people under the age of 16.

Australia's communications minister said the government will sue Facebook and other platforms for failing to comply with a nationwide social media ban for under-16s.

BNP Paribas raised its price target for Procter & Gamble (PG.N) to $177.

Iranian Revolutionary Guard: Our air defense system shot down a US MQ-9 drone over the Strait of Hormuz this morning. This is the 54th such drone.

BNP Paribas lowered its target price for Coreweave (CRWV.O) from $169 to $117.

According to the Nikkei, Japan's Digital Minister Shunji Furukawa announced at a press conference following a cabinet meeting on the 20th that the government will convene its first meeting of the "Artificial Intelligence and Digital Reform Promotion Conference" in October, and will conduct an inter-ministerial review of relevant laws, regulations, and guidelines. Given the labor shortage caused by a declining population, the government will promote the development and social application of artificial intelligence (AI). The meeting will discuss the application of AI in fields such as healthcare and construction, as well as vertical AI and robotics.

Hong Kong-listed physics AI concept stocks surged, with 51Vision (06651.HK) rising nearly 25%, Hesai-W (02525.HK) rising over 10%, UBTECH (09880.HK) rising over 9%, and Yuejiang (02432.HK) rising 5.5%.

The U.S. National Hurricane Center reports that Hurricane Trudy has weakened into a remnant low pressure system.

According to a survey of 184 marketing and advertising professionals from leading agencies and brands conducted by marketing technology company Basis, marketers are actively promoting the use of AI tools, but many are neglecting to assess whether these investments are truly yielding a return. The report found that approximately 60% of U.S. marketing and advertising professionals use generative AI or agent AI daily, a 33.6% year-over-year increase. However, only 6.5% of respondents use explicit metrics and benchmarks to measure the return on investment (ROI) of AI. About a quarter of respondents rely on fragmented experience and individual case studies to assess ROI, 46.2% do not measure ROI at all, and the remaining 23.9% are unsure whether their teams have conducted relevant assessments. This means that marketing teams are neglecting the crucial assessments needed to determine the necessity of adopting AI. Companies that do not measure ROI at all will be unable to detect constraints such as poor data quality, which can hinder them from fully realizing the value of their AI investments and make it more difficult for them to bridge the gap in their AI readiness.

According to Japan's Kyodo News, Uniqlo announced that it will raise the average selling price of its products by about 4% due to rising raw material costs and the depreciation of the yen.

The Hang Seng Index (HSI) opened down 196.78 points, or 0.81%, at 23,990.05 on Tuesday, October 20th; the Hang Seng Tech Index opened down 52.72 points, or 1.28%, at 4,055.52; the Hang Seng China Enterprises Index opened down 49.73 points, or 0.61%, at 8,078.52; and the Hang Seng Red Chip Index opened down 14.65 points, or 0.36%, at 4,042.85.

Japanese Finance Minister Satsuki Katayama: The government is discussing the defense budget.

Japanese Finance Minister Satsuki Katayama: While focusing on fiscal sustainability, we will consider taking measures to ensure a stable source of funding.

Japanese Finance Minister Satsuki Katayama: No decision has yet been made regarding how to fund the anticipated increase in defense spending.

The NI225 index fell below 64,000 points, down 1.42% on the day.

Japanese Economy, Trade and Industry Minister Minoru Shirou: We have never considered submitting a request to postpone the vote at the Bank of Japan meeting.

Japanese Minister of Economy, Trade and Industry Minoru Jonouchi: I respect the Bank of Japan's independence in formulating monetary policy in accordance with the law.

Japanese Economy, Trade and Industry Minister Minoru Jonouchi: If schedule permits, I hope to attend the Bank of Japan's policy meeting this month.