International News 12 November 2025
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Asian Currencies Mixed as South Korean Won Weakens Amid U.S. Shutdown Uncertainty
The South Korean won fell against the U.S. dollar on Tuesday (Nov 11, 2025), leading losses in Asia as traders awaited progress on a deal to end the prolonged U.S. government shutdown. According to Reuters (02:10 GMT), the won weakened 0.51% to ₩1,464.20 per dollar from ₩1,456.80 previously. Other regional currencies traded narrowly, with the Japanese yen slightly lower at ¥154.32, the Singapore dollar steady at S$1.303, and the Thai baht and Philippine peso down 0.19% and 0.03%, respectively. The Indonesian rupiah slipped 0.33% to Rp16,690, while the Indian rupee, Malaysian ringgit, and Chinese yuan were nearly unchanged. Since the start of 2025, most Asian currencies have appreciated against the dollar — led by the Malaysian ringgit (+7.46%), Thai baht (+6.00%), and Taiwan dollar (+5.81%) — while the rupiah (-3.65%) and rupee (-3.48%) remain weaker. Analysts noted that the recent pullback in the won and rupiah reflects investor caution amid the unresolved U.S. shutdown, now the longest in history, and uncertainty over the Federal Reserve’s expected rate cut in December, which could reshape capital flows across Asian markets.
Asian Stocks Rally as U.S. Shutdown Deal Nears, Gold Surges Above $4,100
Asian stocks advanced on Tuesday (Nov 11, 2025), boosted by optimism that a deal to end the U.S. government shutdown was close, while gold prices and the Nasdaq posted their sharpest gains in months. Gold surged nearly 3%, holding above $4,100 per ounce, and the Nasdaq rose 2.3%, recovering from last week’s AI-related selloff. The Kospi climbed 2.1%, Japan’s Nikkei gained 0.7%, and China and Hong Kong markets opened higher, while S&P 500 futures ticked up 0.1%. Optimism grew after the U.S. Senate advanced a preliminary funding bill on Sunday, signaling a potential end to the longest shutdown in U.S. history, though final approval from Congress and President Donald Trump remained pending. Risk appetite improved as traders priced in the reopening of the U.S. government by the weekend, yet analysts warned the rally could falter if the process stalls. According to OCBC’s Vasu Menon, the reopening would restore key economic data releases, paving the way for a possible Federal Reserve rate cut, which further supports gold. On Wall Street, the S&P 500 jumped 1.54%, its biggest gain since mid-October, while the Nasdaq logged its best day since May. Meanwhile, safe-haven assets weakened — the yen fell to ¥154.49, its lowest in nine months — as U.S. Treasury yields briefly rose before easing to 4.11%. Analysts noted that markets had largely priced in a resolution to the shutdown, tempering the risk of a bond sell-off.
Australia’s Business Activity Strengthens in October Amid Cooling Cost Pressures
Business activity in Australia improved in October 2025, driven by stronger sales and profitability as cost and price pressures eased, signaling sustained post-2024 recovery momentum. According to the National Australia Bank (NAB) monthly survey, the Business Conditions Index rose one point to +9, its highest level since March 2024, while Business Confidence dipped slightly to +6 but remained above its long-term average. NAB Chief Economist Sally Auld noted that the economy continues to show solid momentum despite lingering challenges from high capacity utilization and wage growth pressures. Sales surged by five points to +19, profitability climbed three points to +9, and employment held steady at +3, while purchase costs and labor costs eased to 1% and 1.5% quarterly, respectively. Capacity utilization edged up to 83.4%, reinforcing the view that activity remains robust. Meanwhile, the Reserve Bank of Australia (RBA) kept its benchmark interest rate unchanged at 3.6% earlier this month, maintaining a cautious stance amid persistent inflation, strong consumer demand, and a recovering housing market. RBA Deputy Governor Andrew Hauser highlighted elevated capacity usage, prompting markets to reduce the probability of further rate cuts by May to around 66%. Separately, private surveys showed consumer sentiment turned positive for the first time in nearly four years, underscoring renewed optimism about Australia’s economic outlook heading into 2026