On November 5, 2024, China's service activity demonstrated significant expansion, reaching its highest growth rate since July. The Caixin China services purchasing managers' index increased to 52 in October, up from 50.3 in September. This growth follows a series of stimulus measures implemented by the Chinese government aimed at boosting consumer demand and economic recovery.
In India, concerns are resurfacing regarding the shadow-banking sector six years after a major crisis in the industry. Major firms, including Bajaj Finance Ltd. and Shriram Finance Ltd., reported rising delinquencies on unsecured loans in their recent earnings. This trend has led to increased scrutiny from regulators and prompted these companies to set aside more capital for provisions, resulting in lower-than-expected profits.