Malaysia expects to save at least $1 billion to $2 billion a year from a shift to a targeted subsidy system in a bid to narrow its fiscal deficit, Bloomberg reported, citing Economy Minister Rafizi Ramli.

Japan's service activity in September expanded for the 13th month but at the slowest pace since the start of the year, a private survey showed, a worrying sign as the sector has been a key driver of economic growth amid weakness in manufacturing.

South Asia's growth rate is expected to slow down in the coming years, despite currently outperforming other developing regions globally, according to the World Bank's twice-a-year regional outlook released today. The region is predicted to grow by 5.8% this year but will likely decelerate to 5.6% in 2024 and 2025 due to fading post-pandemic rebounds and a mix of monetary tightening, fiscal consolidation, and reduced global demand.

Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies.

U.S. job openings unexpectedly increased in August amid a surge in demand for workers in the professional and business services sector, pointing to a still-tight labor market that could compel the Federal Reserve to raise interest rates next month.

Global markets are facing a downturn on Tuesday, with early trends suggesting that Wall Street could open lower. The Dow futures were down 129.00 points, the S&P 500 futures were declining by 19.50 points, and the Nasdaq 100 futures were sliding by 82.75 points as of 8:00 am ET.