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(Bloomberg) — Asian stocks opened higher on Monday following two consecutive weeks of declines as easing trade tensions between the world’s largest economies bolstered sentiment.
Shares in Japan and South Korea rose, while Australia dipped, after the region’s equities fell on Friday amid concerns on US regional banks. A gauge of the dollar edged up, while oil steadied after dropping for three weeks. US equity futures traded flat after paring most of their earlier gains. Gold slid 0.5%.
President Donald Trump sought to ease trade tensions, saying the much higher tariffs he had threatened to impose on Chinese imports wouldn’t be sustainable. A new round of US-China trade talks are also set for this week with Treasury Secretary Scott Bessent and Vice Premier He Lifeng facing the task of negotiating down new escalatory measures between the two nations.
“The markets are pricing in that things will de-escalate,” wrote Kyle Rodda, a senior market analyst at Capital.com in Melbourne. “However, the markets are likely to remain jittery until such backdowns are explicitly announced.”
Bessent said he spoke virtually with He on Friday evening. The Treasury chief earlier described the discussions with He as “frank and detailed” and reaffirmed plans to meet in-person next week. US Trade Representative Jamieson Greer also took part in the online talks.
Bessent’s comments came after Trump expressed optimism that talks with Chinese officials may yield an agreement to defuse the crisis that saw the US leader threaten to drastically hike tariffs. Taken together, the remarks signaled an effort by Washington to calm fears of a full-blown trade war with Beijing that could have a seismic effect on the global economy.
“There’s a prevailing belief that US–China trade headlines will remain skewed toward a positive outcome,” Chris Weston, head of research at Pepperstone Group, wrote in a note to clients.
Traders will first need to navigate China’s monthly data dump on Monday that may show growth slowed in the third quarter despite a boom in exports, according to a Bloomberg survey.
Chinese political leaders will also begin gathering in Beijing for a four-day meeting, known as its Fourth Plenum, with traders watching for fresh measures to extend China’s strongest equity rally in eight years and shore up the yuan. While a detailed plan will only be released in March next year, investors will scrutinize the post-meeting readout for any policy signals ahead of the possible meeting between Xi and Trump.
Attention in Asia is also on Japan ahead of a vote on Tuesday that will determine the country’s next prime minister and provide clarity for investors
In geopolitical news, Israel launched strikes against Hamas in Gaza and reportedly suspended all aid shipments on Sunday after blaming Hamas for a lethal Palestinian ambush that left two soldiers dead.
French bond futures opened lower after S&P Global Ratings downgraded France to A+ from AA-, saying the country’s budget uncertainty was “elevated.” France has now lost its double-A rating at two of the three major credit assessors in little more than a month, potentially forcing some funds with ultra-strict investment criteria to sell the country’s bonds.
Corporate News:
Kering SA agreed to sell its beauty division to L’Oreal SA as part of a long-term strategic alliance, with Chief Executive Luca de Meo seeking to turn around the French luxury giant’s fortunes. Sany Heavy Industry Co. started taking investor orders to raise as much as HK$12.4 billion ($1.6 billion) in a Hong Kong listing, joining a flood of Chinese companies seeking to capitalize on the Asian financial hub’s hot market. Some of the main moves in markets:
Stocks
S&P 500 futures were little changed as of 9:18 a.m. Tokyo time Hang Seng futures rose 2.5% Japan’s Topix rose 1.5% Australia’s S&P/ASX 200 fell 0.3% Euro Stoxx 50 futures rose 0.4% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1659 The Japanese yen fell 0.2% to 150.87 per dollar The offshore yuan was little changed at 7.1264 per dollar The Australian dollar was unchanged at $0.6499 Cryptocurrencies
Bitcoin fell 0.7% to $108,104.29 Ether fell 1.2% to $3,956.86 Bonds
The yield on 10-year Treasuries was little changed at 4.01% Japan’s 10-year yield declined 3.5 basis points to 1.620% Australia’s 10-year yield advanced six basis points to 4.16% Commodities
West Texas Intermediate crude fell 0.4% to $57.31 a barrel Spot gold fell 0.7% to $4,223.68 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Matthew Burgess.
©2025 Bloomberg L.P.
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SUZHOU, China, Oct. 19, 2025 /PRNewswire/ — CStone Pharmaceuticals (“CStone,” HKEX: 2616), an innovation-driven biopharmaceutical company focused on the research and development of therapies for oncology, autoimmune/inflammation, and other key disease areas, today announced the first disclosure of preliminary Phase I data for CS2009 (a PD-1/VEGF/CTLA-4 trispecific antibody) and the Phase Ib study design for CS5001 (a ROR1-targeted Antibody-Drug Conjugate [ADC]) at the 2025 European Society for Medical Oncology (ESMO) Annual Congress.
Key Highlights of CS2009 Poster Presentation:
This also represents the first known clinical data publication of a PD-1/VEGF/CTLA-4 trispecific antibody to date.
CS2009-101 is a multi-regional phase Ⅰ study currently ongoing in Australia and China. The study evaluates the safety, tolerability, pharmacokinetics (PK)/ pharmacodynamics (PD), and antitumor activity of CS2009 in patients with advanced solid tumors.
Patients baseline characteristics:
Favorable safety and tolerability:
Promising antitumor activity and high disease control rate (DCR):
CS2009 demonstrated encouraging anti-tumor activities across tumor types. As of the cutoff date, the overall follow-up duration remained limited, particularly in higher-dose cohorts where the majority patients had yet to reach the protocol-specified time point of post-baseline tumor assessment:
Favorable PK and PD profiles:
CStone has initiated Phase Ⅱ dose expansion study in first-line patients with selected tum or types for dose optimization and to generate data supporting registration trials in first-line NSCLC and other tumors as monotherapy or in combination therapies.
CS2009 Data Review Conference Call:
CStone will host an investor meeting to discuss presented data and future clinical development plan. The Company cordially invites all investors to attend this conference call.
Chinese-language session:
English-language session:
Key Highlights of CS5001 ePoster Presentation:
About CStone
CStone (HKEX: 2616), established in late 2015, is an innovation-driven biopharmaceutical company focused on the research and development of therapies for oncology, autoimmune/inflammation, and other key disease areas. Dedicated to addressing patients’ unmet medical needs in China and globally, the Company has made significant strides since its inception. To date, the Company has successfully launched 4 innovative drugs and secured approvals for 16 new drug applications covering 9 indications. The company’s pipeline is balanced by 16 promising candidates, featuring potentially first-in-class or best-in-class antibody-drug conjugates (ADCs), multispecific antibodies, immunotherapies and precision medicines. CStone also prides itself on a management team with comprehensive experiences and capabilities that span the entire drug development spectrum, from preclinical and translational research to clinical development, drug manufacturing, business development, and commercialization.
For more information about CStone, please visit: www.cstonepharma.com.
Forward-looking statements
The forward-looking statements made in this article only relate to events or information as of the date when the statements are made in this article. Except as required by law, we undertake no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. You should read this article completely and with the understanding that our actual future results or performance may be materially different from what we expect. All statements in this article are made on the date of publication of this article and may change due to future developments.
Disclaimer: only for communication and scientific use by medical and health professionals, it is not intended for promotional purposes.
SOURCE CStone Pharmaceuticals