🚨JUST IN: Beijing hit its growth target without its own economy. China’s GDP grew 4.5% in Q3, beating forecasts. Nine-month growth of 4.6% sits inside the 4.5%-5% target. Exports did the work. Fixed-asset investment fell 7.2%. Property investment plunged 20.6%. Infrastructure shrank 4.2%, despite fresh stimulus. Retail sales rose just 1.1%. Strong exports are why Beijing is holding off on big stimulus. But that engine is under strain. The trade surplus is on track to top last year’s record $1.2 trillion, and tensions with the EU are rising.

JUST IN: 🇮🇩Indonesia’s stock market wiped out $60,000,000,000 today, its worst day in 28 years. The Jakarta Composite closed down 11.57% at 5,185, a level not seen in almost 26 years. The last bigger daily drop came during the 1998 Asian financial crisis, when a collapsing rupiah drove up foreign debt costs and deepened a banking crisis. The index is now down about 40% this year. The fall comes amid MSCI proposing to strip Indonesia of emerging-market status over opaque ownership, suspected coordinated trading and weak enforcement. That could force funds tracking its global indices to sell Indonesian stocks. UBS estimates around $4 BILLION in passive outflows, with active investors potentially withdrawing another $15 BILLION. The downgrade is still pending, with a final decision due by June 2027. The rout comes as South Korea’s KOSPI fell -14.46% this week, its worst week since the 2008 financial crisis.

🚨BREAKING: At least 1,200 people were arrested as 550,000 took to the streets over the rising cost of living and conditions in schools, per BBC. Limoges' historic town hall was "largely lost" to a massive blaze, while Lyon's tourist office was also set on fire as violent protests swept across France. Violent clashes erupted in Paris and other cities, with riot police deploying tear gas and water cannons as vehicles and buildings were set ablaze. French authorities reported at least 150 police officers injured, alongside widespread looting and vandalism.