Good morning, and welcome to the final Asia Links of the week
Overnight
S&P500: +0.75%; FTSE100: -0.23%; HSI: +3.38%
China faces soaring infections as Xi starts covid relaxation (Bloomberg, Reuters)
Beiing running out of fever medication as covid outbreak spreads (FT)
Beijing and Shanghai ease restrictions on quarantine and travel, drop on-arrival testing (Caixin)
China’s new 10 measures against covid are adherence to original intention, logic (People’s Daily)
An AP explainer on what the China covid changes mean
Hong Kong further eases isolation rules, but other covid measures stay in place (SCMP)
Xi Jinping hails ‘new era’ in China-Saudi Arabia relationship (FT)
China and Saudi Arabia sign strategic partnership (NY Times)
India’s Modi secures record win in Gujarat, but loses in Himachal Pradesh and Delhi (Guardian, Reuters, AP)
Hong Kong and Singapore spar for green finance supremacy in Asia (Bloomberg)
Likely incoming US House speaker picks China hawk Mike Gallagher to chair China panel (SCMP)
Wealthy chinese increase spending while others cut back, survey finds (CNBC)
Emerging Market November foreign inflows most since June 2021 — IIF (Reuters)
Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways (CNBC)
US state of Indiana sues TikTok over China’s access to data (BBC)
Tata to enter chip production in India, chairman says (Nikkei Asia)
China threatens ‘measures to defend security’ as US plans Taiwan arms sales (SCMP)
South Korea widens back-to-work order on striking truckers (AP)
North Korean hackers exploited Seoul Halloween tragedy to distribute malware, Google says (Reuters)
Forbes publishes its Indonesia’s 50 Richest list
‘What’s the point of buying?’ — China’s property woes push young to rent (FT)
Dwindling economic opportunities for China’s youth feed discontent (East Asia Forum)
Wonkery: China’s state subsidies don’t seem to be boosting productivity (NBER)
Is the Old Master art market in terminal decline? (The Art Newspaper, h/t Marginal Revolution)
India ATM now dispenses gold coins (Reuters)
Almost everyone is about to become a year younger in South Korea (Bloomberg, Reuters, Washington Post, Bangkok Post)