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Independent journalArchive edition · October 23, 2026

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Featured story2 min read

Updated: Asian shares fall as AI funding worries and high oil unsettle markets

A market drop has spread beyond Wall Street: Asian shares mostly fell on Oct. 23 as investors weighed AI spending needs, while Brent touched a five-month high. Taiwan’s market was closed for Typhoon Champi.

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Financial news

10 stories in this desk.
01

Philippines makes larger-than-expected 50-basis-point rate hike

The central bank lifted its benchmark to 5.50%, a larger move than economists had broadly expected, as inflation and peso pressures persist.

By Genuine Update News Desk↗
02

Bank of Korea holds benchmark rate at 3% after two hikes

South Korea’s central bank kept its policy rate at 3% on Oct. 22, pausing after increases in July and August.

By Genuine Update News Desk↗
03

Indonesia’s foreign reserves ease to $146.3 billion

Bank Indonesia says September reserves remained well above the international adequacy benchmark despite debt repayments and rupiah-stabilization operations.

By Genuine Update News Desk↗
04

South Korea card payments rise 7.6% as mobile use expands

Daily card payments averaged about 3.8 trillion won in the first half of 2026, with mobile and other cardless transactions continuing to gain ground.

By Genuine Update News Desk↗
05

Nigeria cuts benchmark interest rate to 23%

Nigeria's central bank has reduced its benchmark monetary policy rate from 26.5% to 23%, according to reports from the Monetary Policy Committee's latest meeting.

By Genuine Update News Desk↗
06

Indonesia names interim central-bank chief after governor’s surprise resignation

Perry Warjiyo resigned for personal reasons before completing his second term, and Senior Deputy Governor Destry Damayanti is serving as acting governor.

By Genuine Update News Desk↗
07

South Korean stocks plunge nearly 11% as chip selloff triggers trading halt

The KOSPI closed 10.8% lower after the Korea Exchange activated a market-wide circuit breaker, while technology shares also fell sharply in Japan and Taiwan.

By Genuine Update News Desk↗
08

U.S. investment abroad reached $7.14 trillion at the end of 2025

New federal estimates put the U.S. direct-investment position abroad at $7.14 trillion and foreign direct investment in the United States at $5.86 trillion at the end of 2025.

By Genuine Update News Desk↗
09

Chip selloff deepens as Wall Street ends the week lower

Semiconductor shares recorded their worst week in more than a year, adding a new test for the AI-led market rally as oil prices stayed elevated.

By Genuine Update News Desk↗
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