Welcome to Markets Desk, here's what's moving the needle right now.
The Bank of Korea held rates steady today, a decision that landed exactly where economists expected, coming as President Lee called for measures to boost housing supply. The hold signals the central bank is threading the needle between cooling inflation pressures and a domestic property market that still needs careful handling.
Shifting to capital flows, sovereign wealth funds have dramatically reversed course on China and Hong Kong, with investments surging one hundred ninety percent after a prolonged slump. These are patient, long-horizon pools of capital, and when they move at this scale, it tells you institutional conviction is building that the worst of the China drawdown may be behind us.
And at Meta, Mark Zuckerberg is tightening his grip on the company he built. As Meta posted third quarter earnings, the board announced a new class C share structure, essentially a one-for-one stock dividend that preserves Zuckerberg's voting control. The backdrop is notable — he had signaled to directors he was weighing a move out of California to avoid a potential wealth tax, and the board responded by making his position structurally untouchable.
That's the tape. Markets Desk, signing off the floor.
