Jin10 Data roundup: PBOC, OpenAI and market headlines

According to a TechFlow report on October 31, Jin10 Data's roundup of key overnight and morning news showed that the PBOC said it would conduct overnight reverse repo tenders on each business day starting November 2, with an operation rate of 1.25%, and would continue to implement a moderately accommodative monetary policy to maintain ample liquidity; the Ministry of Finance said total profits of state-owned and state-controlled enterprises nationwide grew 3.0% year-over-year in January-September.

Internationally, OpenAI's fundraising target was sharply reduced by $10 billion, and its valuation was simultaneously cut to $1.25 trillion. Dallas Fed President Lorie Logan said the Fed needs at least two more rate hikes, totaling 50 basis points; St. Louis Fed President Alberto Musalem said another rate hike may be needed soon. In markets, spot gold fell below the $3,900 key level, spot silver broke below $50; the Nasdaq fell nearly 3%, Intel dropped nearly 30%, Nvidia's market capitalization fell below $5 trillion, and the Philadelphia Semiconductor Index slid more than 7%.

In other news, the Bank of Japan kept interest rates unchanged, and Governor Kazuo Ueda said underlying inflation had broadly reached the 2% target; Ukraine resumed attacks on Russian refineries, with Russia saying three refineries were hit; Qatari mediators returned to Tehran to mediate U.S.-Iran talks, and the Trump administration notified Gulf allies to prepare for resuming strikes against Iran on November 4.

Source: TechFlow