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Asian stock markets and dollar rise as US election in focus

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Asian stock markets and dollar rise as US election in focus

Investors around the world are closely watching the US presidential election for clues on the outcome.

Benchmark stock indexes in Japan and Australia made gains in Wednesday morning trade, while the US dollar was higher against other major currencies.

The result of the election is expected to have a major impact on economies across Asia.

It is uncertain whether the result of the election will be known during Asian trading hours, as counts in swing states could take days to be completed.

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“Markets look in good spirits despite there being no clear signs yet of who will take the reigns of the White House,” said Tim Waterer, chief market analyst at investment firm KCM Trade.

In Japan, the benchmark Nikkei 225 stock index was up by around 1%, while Australia’s ASX 200 0.8% higher.

In the US on Tuesday, the Dow Jones Industrial Average, S&P 500 and Nasdaq all closed more than 1% higher.

“We could yet see some fluctuations across markets today though, particularly by assets which could be affected most by the outcome, with the US dollar and Chinese stocks being prime examples,” Mr Waterer said.

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Donald Trump has said throughout the campaign that if he became the next US president he would dramatically increase trade tariffs, especially on China.

If Kamala Harris wins investors expect her trade policies to be a continuation of Joe Biden’s more predicable approach.

Investors also have other key issues to focus on this week.

On Thursday, the US Federal Reserve is due to announce its latest decision on interest rates.

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Comments from the head of the central bank, Jerome Powell, will be watched closely around the world.

On Friday, top Chinese officials are expected to unveil more details about Beijing’s plans to tackle the slowdown of the world’s second largest economy.

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PM won’t be forgiven if NHS promises aren’t kept

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Banker all-nighters create productivity paradox

You remind readers that Sir Keir Starmer said the NHS must improve the way it works before it gets more funding (Report, November 4). The bumper settlement for the Department of Health has inspired much hope, but we hear depressing reports that much of it has already been spent meeting day-to-day pressures.

People won’t forgive the government if promises made to patients during the election aren’t kept. Take osteoporosis sufferers, for example, where two in three patients are denied vital bone medication because basic diagnostic services are missing in half of all trusts.

The result for fracture patients has been a revolving door of admission, discharge and readmission costing the system eye-watering amounts, when safe, effective preventative drugs cost as little as £12 per year for every patient.

We need Wes Streeting, the health secretary, to stay firm that new money needs to fund diagnostics, tests and other preventative measures. Otherwise, no amount of money will be enough and the NHS will continue sleepwalking off a cliff.

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Craig Jones
Chief Executive, Royal Osteoporosis Society, Bath, Somerset, UK

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ChocolateX ropes in Sunny Leone as brand ambassador to launch India’s first aphrodisiac chocolate- The Week

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ChocolateX, an aphrodisiac chocolate brand, has announced the launch of its all-natural, libido-boosting chocolates. The brand has roped in actor Sunny Leone as its official ambassador, leveraging her influential reach to spark open conversations on intimacy and self-care in India.

“In a landscape saturated with pills and chemically formulated solutions, ChocolateX brings a refreshing alternative—a chocolate crafted to boost libido and enhance pleasure,” the company said in a statement.

It said ChocolateX helps by enhancing connections and promoting overall wellness, creating a space for individuals and couples to explore and enrich their intimate relationships.

“Sunny’s vibrant personality and openness around conversations of self-expression made her a perfect match for ChocolateX. Her connection with a wide audience, especially in the wellness space, complements our goal of reaching people who value authenticity and are ready to embrace a more open dialogue around intimacy,” said Rafi, one of the co-founders of ChocolateX.

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The company claimed that its partnership with Sunny Leone will leverage the actor’s influence through unapologetic social media campaigns, bold visuals, and compelling storytelling aimed at breaking taboos around sexual wellness.

The collaboration seeks to dismantle long-standing stigmas and celebrate India’s heritage as the land of the Kamasutra, it said. 

“With this launch, ChocolateX is pioneering a cultural shift, offering individuals the opportunity to enhance their wellness naturally and enjoyably, all while fostering an open dialogue on intimacy,” it added.

ChocolateX was founded in 2021 by college friends Rafi, Karthik, Srinivasa, and cousins Ravi and Rama.

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Banyan Tree Dubai launches new “Banyan Brunch Club”

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Banyan Tree Dubai launches new “Banyan Brunch Club”

The Banyan Brunch Club, a new brunch-based dining experience, has launched at the Banyan Tree Dubai. Taking place in the area near Alizée Pool & Beach, the brunch will offer a combination of international cuisines through dishes from a variety of Banyan Tree Dubai’s renowned venues, including Demon Duck, Tocha, and Alizée Restaurant, all of which is paired with refreshing beverages, including handcrafted cocktails and premium bubbly. The brunch includes interactive live stations, and afterwards, guests can also lounge by the pool.

Continue reading Banyan Tree Dubai launches new “Banyan Brunch Club” at Business Traveller.

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Letter: Going to hell in a bucket?

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Banker all-nighters create productivity paradox

From Sir Andrew Cook, Castagnola, Switzerland

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FT Crossword: Number 17,887

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FT Crossword: Number 17,887

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UK government pledges better treatment of people with autism and learning disabilities

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A long-awaited mental health bill to end the use of prison cells for people in crisis and limit the detention of those with autism and learning disabilities will be introduced by the government on Wednesday.

The bill was first promised by the then prime minister Theresa May in 2017 but was kicked into the long grass by subsequent governments.

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Health secretary Wes Streeting said: “The treatment of people with autism and learning disabilities, and the way in which Black people are disproportionately targeted by the [current] act, should shame us all.”

“Our outdated mental health system is letting down some of the most vulnerable people in our society and is in urgent need of reform,” he said.

The Department of Health and Social Care noted that Black people are more than three times more likely to be detained under the Mental Health Act, while those with learning disabilities and autistic people are commonly found to be inappropriately sectioned. 

As well as banning police and prison cells from being used to detain people experiencing severe mental illness — creating more space for police to hold criminal suspects — the bill will update the existing Mental Health Act to place a 28-day limit on the detention of people with autism and learning disabilities unless they have another mental health condition. 

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The legislation aims to reduce the strain on mental health services, which are increasingly having to purchase bed space in the private sector amid a rapid increase in demand for services.

Last year, the Office for Budget Responsibility estimated that a rise in health-related economic inactivity was costing the government £16bn more per year since the pandemic, largely due to rising mental health problems.

The bill will make it a legal requirement for each patient to have a “care and treatment plan” tailored to their condition and needs, with a clear trajectory towards discharge.  

It will also increase the frequency of patients’ clinical reviews to ensure they are receiving appropriate treatment, and reform the use of controversial community treatment orders — a legal arrangement that allows a patient to leave a hospital and receive treatment in the community under strict conditions — which are disproportionately used on ethnic minority groups.

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Andy Bell, chief executive at the Centre for Mental Health, said he “warmly welcomed” the publication of the bill, which was “long overdue”.

“The bill is an essential step towards modernising mental health services, but it must be accompanied by investment in mental health services and buildings so that people get the care and support they need when they need it in environments that are safe and therapeutic,” he added.

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