Philippine President Marcos: The implementation details of the wealth fund have been completed and the wealth fund structure will be quickly established.

Russian drones struck an area near the Ukrainian port of Odessa at night.

The New Zealand dollar NZD/USD broke through 0.60, rising 0.11% on the day.

US Geological Survey: A 5.1-magnitude earthquake occurred in the southern Indian Ocean.

EVERCORE ISI: Cut the target price of General Motors (GM.N) to $38 from $42; cut the target price of Ford Motor Co. (FN) from $11 to $10.

The Society of Motor Manufacturers and Traders (SMMT): UK new car registrations are expected to grow by approximately 14% year-on-year.

BAIRD: Cut Apple (AAPL.O) price target to $186 from $204.

Citi: Inflationary pressures, geopolitical tensions and a high interest rate environment remain cyclical headwinds to base metals demand.

Citi: The copper market is expected to have a refining surplus of 355,000 tons in 2024, compared with 112,000 tons in 2023.

Citi: Copper prices are expected to trade in a range of US$7,500 to US$8,500 over the next 3-6 months.

Securities and Exchange Board of India official: A working group has been set up to streamline the regulatory and registration process for offshore funds.

Indian market regulators suspect foreign shareholdings are being used to circumvent Securities and Exchange Board of India regulations in some cases.

Bank of Japan Governor Kazuo Ueda: It is difficult to say that there is zero chance of ending negative interest rates this year, but we have decided to keep the policy framework unchanged based on the data so far.

According to the Islamic Republic News Agency (IRNA): The Iraqi Prime Minister visited Iran to discuss the Gaza issue.

Bank of Japan Governor Kazuo Ueda: We are conducting various calculations on Japan’s neutral interest rate level, but the numbers have changed too much to issue a credible estimate.

Bank of Japan Governor Kazuo Ueda: Pay close attention to the floating losses of securities held by banks.

Bank of Japan Governor Kazuo Ueda: Stable wage growth is expected next year, although he is not entirely confident.

Bank of Japan Governor Kazuo Ueda: The possibility of wages continuing to rise next year is increasing.

Bank of Japan Governor Kazuo Ueda: (But) the extent cannot be quantified with numbers.

Bank of Japan Governor Kazuo Ueda: If the inflation forecast for 2024 and 2025 is strong enough, even if it is not yet forecast for 2026, we may already be able to judge that the continued achievement of the 2% target is in sight.