Global Markets React as Autumn Volatility Unfolds

Global markets experienced a downturn as stocks fell in Asia following a Wall Street slump. Contributing factors included disappointing economic data and comments from Jerome Powell. Despite challenges, China's Alibaba saw shares rise after unveiling a new AI model. Notably, New Zealand appointed Anna Breman as its first female central bank governor.

Global markets witnessed a noticeable slump as stocks in Asia tumbled following adverse trading on Wall Street. The decline was spurred by softer-than-anticipated economic data coupled with Federal Reserve Chairman Jerome Powell's comments that offered little insight into prospective interest rate movements.

Despite the overall market weakness, Chinese markets provided a glimmer of hope with Alibaba's shares rising 5% in Hong Kong. This surge came in the wake of the company's announcement of its largest-ever AI language model, Qwen3-Max, which holds over a trillion parameters, surpassing previous records set by similar technologies.

In a notable development in New Zealand, Anna Breman was appointed the first female governor of its central bank. She transitions from her role as the First Deputy Governor of Sweden's Riksbank, amid significant restructuring following criticism of economic management.

(With inputs from agencies.)