Industry

Porsche operating profit surges as China sales drop 33 percent

Porsche’s operating profit for January to September rose sharply as it reduced reliance on China, though a base effect from last year’s restructuring costs makes a sales recovery hard to read into the result. Revenue and global deliveries fell, with China deliveries down 33 percent. North America remained Porsche’s largest market. Porsche is pursuing a “value over volume” strategy while warning U.S. tariffs and weak China demand remain a drag.

Finance

Korean financial groups post third-quarter results as stock market outlook hits zero visibility

Korean financial holding firms and banks continued to release third-quarter results, with Woori Bank posting its biggest quarterly net profit on record and Hana Financial Group lifting year-to-date profit on higher fee income. Brokerages faced weakening profitability as trading value fell and market rates rose, adding valuation loss pressure in trading. The Bank of Korea held its policy rate at 3.00 percent, while competition in retirement pensions and expanded support for small firms continued.