Oil slips from near six-months highs despite supply concerns

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• Bank of Japan's hawkish pause to leave scope for December hike

  The Bank of Japan (BOJ) is likely to declare victory in its nearly 14-year battle to hit its 2% inflation target at its policy meeting on Friday, signaling the chance of a rate hike as soon as December. Analysts expect the BOJ to raise rates to 1.5% in December and stick to a quarterly pace of rate hikes. The central bank will likely emphasize that it will focus on anchoring inflation around its target by raising rates toward levels deemed neutral to the economy.

  3 min read
• Report: SK Hynix gained ~$15B from selling down its Kioxia stake earlier this year, and plans to return ~$12B to shareholders via a special dividend (Bloomberg)

  ### Briefing SK Hynix, a South Korean semiconductor company, has announced plans to return approximately $12 billion to its shareholders through a special dividend. This move follows a significant sale of its stake in Kioxia, a Japanese semiconductor company, earlier this year, resulting in a gain of around $15 billion. The company aims to distribute this portion of its profits to its shareholders, providing them with additional financial benefits.

  1 min read
• High-frequency trading firms such as Jane Street are investing in AI and chip startups and neoclouds, and building data centers to gain an edge in the AI era (Bloomberg)

  High-frequency trading firms like Jane Street are investing in AI and chip startups, neoclouds, and building data centers to gain a competitive edge in the AI era. Bloomberg reports that these firms are focusing on developing AI-driven solutions to improve their trading strategies and reduce the risk of errors. Key points include investing in AI to enhance decision-making and reduce errors, building data centers to process large amounts of data, and expanding their investments in AI and chip startups.

  1 min read