Daily Briefing · 2026-10-08

Rising corporate borrowing costs and heightened economic slowdown risks are expected. The Reserve Bank of India also raised interest rates for the first time in 3 years and 8 months, following energy price increases driven by Middle East tensions. In the stock market, the number of constituent stocks in the TOPIX will be significantly reduced from 1634 companies to 986 companies. While improvements in liquidity and investment efficiency are expected, concerns remain over stock price decline risks for excluded names. In the real estate sector, the sale of Sankei Building is progressing, with bid amounts exceeding 1 trillion yen in scale. On the corporate compliance front, four major beer companies are suspected of price collusion, with investigations also targeting the involvement of management. Geopolitical risks also continue. In Ukraine, a large-scale Russian missile attack has resulted in 25 deaths and approximately 100 injuries, with reconstruction costs continuing to rise due to infrastructure damage. A factory in central Ukraine operated by a subsidiary of Japan Tobacco was also attacked, leading to a halt in production. The issue of the transfer of North Korean soldiers from Ukraine to South Korea has developed into a new diplomatic dispute. In the Middle East, regarding the Iranian nuclear issue, the United States is demanding a reduction in uranium enrichment capacity, with expectations for a reduction in geopolitical risk and stabilization of energy prices. In China, Premier Li Qiang emphasized the Taiwan issue as an inviolable red line, with risks of instability in trade relations continuing. In the technology sector, executives from Japan and the United States are advancing the creation of common rules for AI regulation, with expectations for reduced compliance costs. In cybersecurity, an attack by an international hacker group on approximately 4000 companies worldwide has come to light, resulting in substantial economic damage. In Denmark, personal information for 880万 people—more than the country's population—has leaked, raising concerns over a sharp increase in compensation and security measure costs. In Germany, a former head of an intelligence agency has been arrested on suspicion of espionage, raising the risk of state secrets leakage. Finally, with Haruki Murakami's Nobel Prize win, stock price gains are expected for Japan's publishing industry and related companies.