Jin10 Data Roundup: Central Banks, OpenAI, and Market Headlines

on October 31, according to Jin10 Data, its summary of important news from yesterday and today indicates that the central bank will conduct tender auctions for overnight reverse repurchase operations every working day starting November 2 at an interest rate of 1.25%, continuing a moderately loose monetary policy to maintain ample liquidity; the Ministry of Finance stated that the total profit of state-owned and state-controlled enterprises nationwide increased by 3.0% year-on-year from January to September.

Globally, OpenAI slashed its funding target by $10 billion, with its valuation concurrently adjusted downward to $1.25 trillion. Federal Reserve Governor Logan stated that the Fed needs to raise rates at least two more times, totaling 50 basis points; Michael Musalem said it will soon be necessary to hike rates again. In markets, spot gold fell below the $3,900 mark, while spot silver dipped under $50; the Nasdaq dropped nearly 3%, Intel tumbled almost 30%, Nvidia's market capitalization slipped below $5 trillion, and the Philadelphia Semiconductor Index declined by over 7%.

In other developments, the Bank of Japan held interest rates unchanged, with Haruhiko Kuroda noting that underlying inflation has broadly met the 2% target; Ukraine resumed attacks on Russian refineries, with Russia reporting that three facilities were struck; Qatari mediators returned to Tehran to facilitate US-Iran talks, and the Trump administration advised Gulf allies to prepare for resumed strikes on Iran on November 4.