Crypto News: Housing pain for baby boomers

Good morning, Georgie here in Sydney with the day's top news.

Today's must-reads:
• Why baby boomers find downsizing hard
• RBA off-the-record briefings under scrutiny
• CBA shuffles its executive ranks

Baby boomers trying to downsize to three-bedroom Sydney apartments from large family homes just can't find enough of them. Unable to move, many stay put, adding to Australia's housing crunch. The next Bloomberg Australia Podcast with Swati Pandey takes a deep dive into the issue. Listen on Apple, Spotify, YouTube or your favored platform.

The Reserve Bank of Australia faces questions over its practice of holding off-the-record briefings with market participants after reports that at least two such discussions had been leaked, resulting in bans for the institutions involved.

Commonwealth Bank of Australia has moved the head of its institutional bank Andrew Hinchliff to chief risk officer and appointed Sinead Taylor in his place as part of a suite of new appointments to its executive ranks.

ANZ CEO Shayne Elliott said fears about the "demise of China" as an investment destination are "massively overblown," with the bank seeing brisk business in the country.

New Zealand's working-age population increased at a slower pace in the third quarter amid signs that young Kiwis are leaving the country for better opportunities and pay overseas. Meanwhile, house prices fell again.

Asia-Pacific stocks look set for a solid start amid optimism in Japan after new Prime Minister Shigeru Ishiba's warning against another interest-rate hike drove down the yen, bringing relief for exporters.

China's stimulus blitz handed more than 25% returns in September to some hedge funds as the nation's stocks surged. Traders are waiting to see if Chinese shares listed in Hong Kong keep rallying.

President Joe Biden said Israel should hold off from attacking Iran's nuclear facilities in retaliation for a missile barrage. Group of Seven nations are trying to tamp down a spiraling Middle East conflict.

Soldiers carry the coffin of an Israeli Army captain who was killed in action in Lebanon, during a funeral at Mt. Herzl military cemetery in Jerusalem on Oct. 2. Photographer: Maya Alleruzzo/AP

OpenAI completed a deal to raise $6.6 billion in new funding, giving the artificial intelligence company a $157 billion valuation. But renowned MIT economist Daron Acemoglu warned of excessive hype about AI technology as a whole, saying it can do only 5% of jobs.

The US Central Intelligence Agency is boosting its efforts to recruit Chinese citizens. The agency issued Chinese-language instructions on Instagram, Facebook, LinkedIn, YouTube, Telegram, and X on Wednesday, detailing how individuals can securely get in touch.

• Australia composite, services PMIs, 9 a.m. in Sydney
• Australia trade balance, 11:30 a.m. in Sydney

US chips guided a Russian missile that killed a six-year-old girl in Ukraine. Read today's Big Take about how the weapons killing Ukrainian civilians are full of technology made by American companies.

Photographer: Julia Kochetova/Bloomberg

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