日本服务业指数从9月的47.1升至2025年10月的49.1，为2024年3月以来的最高水平，连续第六个月上涨，超过了市场预期的47.6。尽管住房相关行业有所下降，但家庭预算趋势指数也有所改善，这得益于零售和其他行业的增长。与此同时，受制造业和其他行业活动增强的推动，企业趋势指数加速，而就业状况也有所改善。与此同时，10月份的经济前景指数从9月份的48.5攀升至53.1，创下2023年7月以来的最高水平，预示着日本经济将继续复苏。

Japan’s service sector index rose to 49.1 in October 2025 from 47.1 in September, marking the highest level since March 2024 and the sixth consecutive monthly increase, exceeding market expectations of 47.6. The household budget trend index also improved, supported by gains in retail and other sectors, despite declines in housing-related industries. Meanwhile, the corporate trend index accelerated, driven by stronger activity in manufacturing and other sectors, while employment conditions also strengthened. At the same time, the economic outlook index climbed to 53.1 in October, up from 48.5 in September, marking the highest reading since July 2023 and signaling a continued recovery in the Japanese economy.

华尔街反弹，但亚洲在早盘上涨后降温，日元保持疲软。美国股市隔夜飙升，此前华盛顿的立法者接近结束该国破纪录的政府停摆，提振了股市和大宗商品的风险情绪。参议院批准了一项两党协议，缓解了财政不确定性，恢复了华尔街的势头，英伟达、Palantir和博通在科技和人工智能相关股票中引领了强劲反弹。

Wall Street Rallies But Asia Cools After Early Lift, Yen Stays Weak.U.S. markets surged overnight after lawmakers in Washington moved closer to ending the country's record-breaking government shutdown, boosting risk sentiment across equities and commodities. The Senate's approval of a bipartisan deal eased fiscal uncertainty and restored momentum to Wall Street, where Nvidia, Palantir, and Broadcom led a powerful rebound in technology and AI-linked stocks.

2025年10月，日本银行贷款增长4.1%，高于9月的3.8%，与普遍预测相符，是2021年4月以来的最快增速。主要银行、地区银行和新金银行的未偿还贷款总额达到650.8万亿日元。主要银行以4.9%的增长率引领扩张，其次是地区银行，增长率为4.2%。服务于小企业和社区的当地合作贷款机构新金银行录得1.5%的温和增长，表明经济某些领域的信贷需求疲软。

Japan’s bank lending rose 4.1% in October 2025, up from a 3.8% gain in September, matching the consensus forecast and marking the fastest pace since April 2021. Total outstanding loans across major, regional, and shinkin banks reached ¥650.8 trillion. Major banks led the expansion with a 4.9% increase, followed by regional banks at 4.2%. Shinkin banks, local cooperative lenders serving small businesses and communities, recorded a more modest 1.5% rise, indicating softer credit demand in certain parts of the economy.

周二，日元兑美元汇率跌至154.5，接近9个月低点，因为对美国政府可能重新开放的乐观情绪降低了避险需求。日本经济振兴大臣木内实警告称，日元走软可能会通过提高进口成本推高消费者价格，并呼吁密切关注。预计将于11月21日敲定的首相高一的刺激计划草案表明，政府将敦促央行将强劲的经济增长与价格稳定放在首位。该方案还将包括对17个关键行业的减税和投资激励措施。与此同时，日本央行10月份的意见摘要显示，政策制定者正在关注下一次加息，同时密切关注国内工资趋势。日本还报告称，由于出口超过进口，9月份经常账户盈余达到创纪录的4.5万亿日元。

The Japanese yen depreciated toward 154.5 per dollar on Tuesday, nearing nine-month lows as optimism over a potential US government reopening reduced safe-haven demand. Japan’s economic revitalization minister, Minoru Kiuchi, warned that the weaker yen could push up consumer prices through higher import costs, calling for close monitoring. A draft of Prime Minister Sanae Takaichi’s stimulus package, expected to be finalized on November 21, suggested the government will urge the central bank to prioritize robust economic growth alongside price stability. The package is also set to include tax cuts and investment incentives for 17 key industries. Meanwhile, the Bank of Japan’s October Summary of Opinions indicated policymakers are eyeing the next rate hike while closely tracking domestic wage trends. Japan also reported a record current account surplus of JPY 4.5 trillion in September as exports outpaced imports.