International News 10 October 2025
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Asia-Pacific Stocks Open Lower Amid Global Growth Concerns
Asia-Pacific markets opened on shaky footing Friday (Oct 10, 2025), echoing Wall Street’s slide as investors weighed global economic fragility and political uncertainty. In Japan, the Nikkei 225 dipped 0.33%, while the broader Topix declined 0.92%. South Korea’s KOSPI bucked the trend with a 0.66% gain (after its market reopened post-holiday), though its smaller-cap KOSDAQ slid 0.37%. Australia’s ASX/S&P 200 also edged lower by 0.26%. In Hong Kong, Hang Seng futures traded weaker at 26,354, down from Thursday’s close of 26,752.59. These regional losses follow declines across all three major U.S. indices overnight: the S&P 500 fell 0.28% to 6,735.11, Nasdaq Composite dipped 0.08% to 23,024.63, and the Dow Jones shed 0.52% (-243.36 points) to 46,358.42. The retreat comes amid investor caution over a potential U.S. government shutdown and lingering doubt about global growth prospects.
Jamie Dimon Warns of Looming U.S. Market Correction Amid Global Risks
JPMorgan Chase CEO Jamie Dimon cautioned that the risk of a sharp downturn in U.S. equity markets over the next six months to two years is higher than most investors currently expect. In a rare interview with the BBC, Dimon said he is “far more worried than others” about the global environment, citing geopolitical tensions, fiscal imbalances, and rising militarization as major risks. While he downplayed inflation as an immediate concern, Dimon stressed the importance of maintaining the Federal Reserve’s independence despite political pressure from President Donald Trump’s administration. Speaking in Bournemouth, England—where he announced a £350 million investment in JPMorgan’s new campus and £3.5 million in community donations—Dimon warned that the U.S. stock market is showing signs of overheating, particularly following years of AI-driven rallies. He compared the AI boom to past technological revolutions, noting that while transformative, many investors could still lose money. Dimon also voiced concerns over U.S. defense readiness and urged greater investment in military capabilities rather than speculative assets like crypto. On global trade, he expressed optimism about a potential breakthrough in U.S.–India negotiations despite tariff disputes. When asked about politics, Dimon jokingly said that if offered the presidency, “I might just take it,” while emphasizing his priority remains keeping JPMorgan strong and adaptable.
Philippines Cuts Rates Again Amid Growth Risks and Corruption Scandal
The Bangko Sentral ng Pilipinas (BSP) lowered its policy rate by 25 basis points to 4.75% on Thursday (Oct 9, 2025), marking the fourth consecutive cut, as growth pressures and a widening infrastructure corruption probe erode business confidence. In its statement, the Monetary Board cited a softening outlook for domestic economy, attributing part of the deterioration to governance concerns surrounding public spending. Meanwhile, the peso slid to ₱58.165 per U.S. dollar, and stock indices moved lower following the rate cut—a move only predicted by 9 of 23 economists in a Reuters poll.
The BSP left the door open for further easing, reversing earlier guidance that the current cycle was nearing its end. Both Governor Eli Remolona and Deputy Governor Zeno Abenoja stressed that additional cuts in December 2025 or beyond are possible, dependent on the government’s response to the corruption investigations and evolving economic conditions. Inflation rose to 1.7% in September—its highest in six months—but remains within the BSP’s target range of 2–4%, allowing policy flexibility amid concerns that full-year growth may miss the 5.5%–6.5% target.