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2025-09-12 Friday

2025-09-19

16:56:59

ECB Official Kocher Emphasizes Data-Dependent Decision-Making Path: (1) ECB official Kocher noted that Austria's inflation rate diverged significantly from the Eurozone average. (2) He stated that current economic risks are generally balanced. (3) He stated that the growth and inflation outlook presented at the Governing Council meeting remained largely unchanged from the previous meeting. (4) He emphasized that the ECB will adopt a meeting-by-meeting approach to decision-making based on data and evolving risk profiles.

16:55:50

ECB Governing Council member Koch stated: "The gap between Austrian inflation and the Eurozone average is too wide. Risks are balanced." The outlook for growth and inflation presented at the Governing Council meeting remained largely unchanged. We will make decisions at each meeting based on data and evolving risk landscape.

16:54:42

Spot gold just broke through the $3,640.00/ounce mark and was last trading at $3,639.88/ounce, up 0.17% on the day. The main COMEX gold futures contract was last trading at $3,678.20/ounce, up 0.13% on the day.

16:53:18

[Market Expects Continued Fed Rate Cutting Cycle, Pressure on the US Dollar Remains Strong] 1. Monex Europe analysts point out that although light economic data on Friday stabilized the US dollar before the weekend, the Fed is likely to resume rate cuts on September 17th and initiate a steady easing cycle, and the US dollar will remain on the defensive for the next few months. 2. Commerzbank believes the euro could break through 1.20 against the US dollar, as improved economic growth prospects increase the central bank's tolerance. The bank raised its year-end euro forecast from 1.20 to 1.22. 3. Berenberg Bank expects UK economic growth to slow further, with inflation subsequently declining, and the Bank of England may cut interest rates twice in 2026. 4. UBS strategists point out that the 10-year US Treasury yield is at its highest level since 2008 and could fall further if economic data weakens. 5. DBS Bank believes that Indonesia's plan to inject 200 trillion rupiah into state-owned banks will not significantly boost loan growth and maintains its neutral rating on the banking sector. 6. UK government bond yields remain stable, and zero GDP growth in July highlights the dilemma of a weak economy and high inflation. ⑺ Gold futures rose 1% to $3,689.80 per ounce this week, on track for their fourth consecutive week of gains, as the market anticipates a 25 basis point rate cut from the Federal Reserve this week. ⑻ US stocks hit new highs and expectations of rate cuts boosted risk sentiment. ⑼ The US dollar index edged up 0.1% to 97.611, as markets continue to bet on a Fed rate cut despite inflation rising to 2.9% and initial jobless claims hitting a 2021 high. ⑽ The British pound fell to $1.3542. The UK economy stagnated in July, with an unexpected decline in manufacturing output and a widening trade deficit of £10.3 billion. ⑾ Economists at Swedbank expect the Riksbank to cut interest rates to 1.75% this month, and tax cuts in the 2026 budget could reduce inflation by about 1 percentage point next year. ⑿ Societe Generale strategists suggest Fitch may downgrade France's credit rating to A+ today. The 10-year French bond yield remained flat at 3.449%.

16:51:33

Traders currently see about a 40% chance of a 25 basis point interest rate cut by the European Central Bank (ECB) by June 2026, down from nearly 50% after Thursday's ECB meeting.

16:51:02

On September 12, the State Tobacco Monopoly Administration promulgated the "Management Measures for Tobacco Products in Domestic Duty-Free Markets". The "Management Measures" stipulate that new tobacco products such as heated cigarettes and electronic cigarettes shall not be sold in domestic duty-free markets.

16:50:01

[Analyst: EUR/USD May Soon Test 1.2000] ⑴ The EUR/USD exchange rate has risen from 1.0125 to 1.1830 this year, with the summer consolidation period beginning at the high point of the gains. ⑵ Despite traders holding substantial long positions, the exchange rate remains strongly bullish. ⑶ The next upside target is 1.2043, while the correction target for the long-term downtrend is 1.2016. ⑷ Falling oil prices will support the EUR/USD. ⑸ The Federal Reserve's impending monetary easing, while Eurozone interest rates remain unchanged, will provide support for interest rate differentials. ⑹ Gold and the euro could jointly challenge the dollar's dominance.

16:47:33

ECB's Rehn: We must be vigilant against the downside risks to inflation from falling energy prices and a stronger euro; the risk of inflation falling below target cannot be underestimated

16:46:47

[CSIC Completes Repurchase and Cancellation of Performance Compensation Shares] ⑴ CSIC announced that due to the failure of some subsidiaries to meet their 2023 performance commitment targets, 16 performance compensation obligors, including China Shipbuilding Industry Corporation, were required to provide performance compensation in the form of shares in accordance with the "Profit Forecast Compensation Agreement." ⑵ The company repurchased the compensation shares of the performance compensation obligors at a total price of RMB 1 and cancelled them all. ⑶ China Shipbuilding Industry Corporation and 16 other compensation obligors have transferred a total of 3.8974 million compensation shares to the company's special repurchase securities account, representing 0.26% of the company's total share capital before the repurchase. ⑷ After the cancellation of performance compensation shares was completed, the company's total number of shares changed from 1.507 billion shares to 1.503 billion shares, and the registered capital was correspondingly reduced from RMB 1.507 billion to RMB 1.503 billion.

16:46:31

[Chengyi Pharmaceutical's Dobutamine Hydrochloride Injection Passes Consistency Evaluation] ⑴ Chengyi Pharmaceutical announced that its dobutamine hydrochloride injection has passed the generic drug quality and efficacy consistency evaluation. ⑵ This drug is primarily used for heart failure caused by decreased myocardial contractility due to organic heart disease, including short-term supportive treatment of low-output syndrome after open-heart surgery. ⑶ As of the date of this announcement, 31 dobutamine hydrochloride injection manufacturers have passed the National Medical Products Administration's consistency evaluation.

16:45:45

[British public's long-term inflation expectations hit a new high since 2019] ⑴ A Bank of England survey on Friday showed that the public's expectations for inflation five years from now rose to 3.8% in August from 3.6% in May, the highest level since 2019. ⑵ Inflation expectations for the next 12 months rose to 3.6% from 3.2% in May, a two-year high.

16:45:41

Spot silver rose 2.00% to $42.36 per ounce. COMEX silver futures were last trading at $42.94 per ounce, up 1.86% on the day.

16:44:10

Slovenia's Current Account Surplus Narrows to €636 Million in the First Seven Months: ⑴ The Central Bank of Slovenia released preliminary data showing a current account surplus of €636 million (approximately $746 million) for the first seven months of 2025, a significant decrease from €1.9 billion in the same period last year. ⑵ The goods trade deficit for the same period was €554 million, while the services trade surplus was €1.9 billion. ⑶ The primary revenue deficit was €180 million, while the secondary revenue deficit reached €521 million. ⑷ The current account surplus for the full year 2024 is projected to be €3 billion, up from €2.9 billion in 2023.

16:42:51

ECB's Koch: Gap between Austrian inflation and eurozone average too wide

16:39:17

[Analyst: Gold and the Euro Close in on the Dollar's Throne] ⑴ If investors continue to place their safe-haven bets on gold and the euro over the dollar, the global reserve currency's dominance may weaken. Euro- and dollar-denominated gold have surged simultaneously this year, testing their 2025 highs. ⑵ Gold has risen by over $1,000 per ounce this year, but speculative positions are well below their February peak, suggesting that long-term demand, such as central bank reserve adjustments, is driving the gains. If US interest rate cuts trigger speculators to cover their losses, the illiquid gold market could see a further gap. ⑶ Speculative forces are strong behind the euro, with traders building significant long positions after clearing short positions before April. The current $17 billion in bullish bets still has room to reach the record high of $31 billion. The decline in oil prices following increased production is also indirectly supporting the euro, suppressing the dollar, and increasing the probability of a Fed rate cut, further fueling the rally in gold and the euro.

16:38:37

[Sinopharm Modern: New specifications of sodium bicarbonate injection have passed the evaluation] ⑴ Sinopharm Modern announced that its wholly-owned subsidiary Sinopharm Group Rongsheng Pharmaceutical Co., Ltd. received the "Notice of Approval of Drug Supplementary Application" approved and issued by the State Food and Drug Administration, approving the increase in specifications of sodium bicarbonate injection and passing the generic drug quality and efficacy consistency evaluation. ⑵ Sodium bicarbonate injection is an antacid, and its indications include the treatment of metabolic acidosis, prevention of uric acid kidney stones, etc. The sales volume of public medical institutions nationwide in 2024 is approximately 580 million yuan. ⑶ Currently, other companies that have passed the consistency evaluation include Hefei Yuanfengshun Pharmaceutical Technology Co., Ltd., etc., and Sinopharm Rongsheng's cumulative R&D investment is approximately 2.7442 million yuan. ⑷ The company stated that the incident will be beneficial to the future market expansion and sales of the product, but will have no significant impact on the company's current performance.

16:37:33

[State Tobacco Monopoly Administration Announces "Administrative Measures for Tobacco Products in Domestic Duty-Free Markets"] ⑴ To implement the State Council's requirements for strengthening the regulation of tobacco products in domestic duty-free markets, the State Tobacco Monopoly Administration has formulated and officially announced special management measures. ⑵ The State Council's tobacco monopoly administrative department will implement unified management of the import and export of duty-free tobacco products in accordance with state-operated trade regulations. ⑶ Retail businesses must submit orders to wholesalers in accordance with regulations. Wholesale businesses will then purchase from suppliers and import or export tobacco products to domestic duty-free markets in accordance with state-operated trade regulations. ⑷ The State Council's tobacco monopoly administrative department will implement planned management of the import and export of duty-free tobacco products in accordance with the law to ensure compliance throughout the entire process.

16:37:07

Sinopharm Modern Pharmaceuticals' Subsidiary's API Production Line Passes GMP Compliance Inspection: (1) Workshop 108 and related production lines in the integrated API workshop of Sinopharm Weiqida Pharmaceutical Co., Ltd., a wholly-owned subsidiary of Sinopharm Modern Pharmaceuticals, have passed the pharmaceutical GMP compliance inspection. (2) This inspection covered the production qualifications of the API (acarbose) and involved Workshop 108 and Line III of the integrated API workshop. (3) This inspection was the first pharmaceutical GMP compliance inspection for acarbose prior to its launch. (4) The relevant workshops and production lines were all renovation projects of existing factory buildings, with a total construction investment of approximately RMB 22.76 million. (5) The production line currently specializes in the production of acarbose API, with a designed annual production capacity of 12 tons.

16:35:37

IMF Warns of Risks to Romania's Fiscal Sustainability ⑴ The International Monetary Fund (IMF) projected Romania's real GDP growth of 1.0% in 2025 and 1.4% in 2026. ⑵ The IMF noted that risks to the economic outlook favor downward growth and upward inflation. ⑶ Due to ongoing concerns about the implementation of the 2025-26 fiscal consolidation plan, the risk of a sovereign credit rating downgrade remains. ⑷ Medium-term fiscal consolidation and additional adjustments are crucial to restoring fiscal sustainability and market confidence. ⑸ If the reform plan is fully implemented, the fiscal deficit is projected to narrow to around 6% of GDP in 2026. ⑹ Without additional corrective measures, the IMF projects that Romania's budget deficit will only narrow to 5% of GDP by 2030, while public debt will rise to nearly 70%. ⑺ The IMF statement emphasized that Romania would need to implement additional measures amounting to approximately 0.67% of GDP annually starting in 2027 to reduce the deficit to below 3% over the medium term.

16:34:17

Citigroup is bullish on three key drivers of Indian auto demand, with Maruti Suzuki being its top pick. (1) Citigroup ranked passenger cars as its top pick in the automotive sector, citing a "triple tailwind" of income tax cuts, lower Goods and Services Tax (GST), and lower interest rates. (2) The investment bank expects policy changes to drive a "long-awaited recovery in passenger car demand," raising its forecast for auto sales growth in fiscal 2026 from 1.3% to 2.1% and increasing its forecast for fiscal years 2027-2028. (3) Maruti Suzuki (MRTI.NS) is its top pick in the sector, followed by Mahindra & Mahindra (MAHM.NS) and Hyundai India (HYUN.NS), all with "buy" ratings. (4) Target prices have been raised: Maruti Suzuki from 14,400 to 17,500 rupees; Mahindra from 3,700 to 4,170 rupees; and Hyundai India from 2,400 to 2,900 rupees. 5. Analysts suggest that Maruti Suzuki will benefit from a recovery in demand for small cars, where the tax impact is most pronounced, while Mahindra and Hyundai India will benefit from lower SUV tax rates. 6. Year-to-date, Maruti Suzuki and Hyundai India have both risen 41%, while Mahindra is up 19%. The auto sector index has risen 18%, while the benchmark Nifty 50 index has gained 6%.

16:33:01

Bank of England survey: Public confidence in the Bank of England +2% vs. +6% in May 2025

16:32:25

Kosovo's Harmonized Inflation Accelerated to 4.5% in August. (1) According to the Kosovo Statistics Office, the Harmonized Index of Consumer Prices (HICP) rose 4.5% year-on-year in August, accelerating from 4.3% in July. (2) Increases in electricity prices and package holiday packages were the main drivers, contributing 17.1% each to the increase, followed by coffee, tea, and cocoa (16.7%), fruit (16.6%), and meat (12.4%). (3) Month-on-month, consumer prices rose 0.5% in August, accelerating from a 0.2% increase in July. (4) Kosovo's HICP is projected to rise 1.6% for the full year 2024, down from a 4.9% increase the previous year.

16:32:16

UK public inflation expectations rise across the board. (1) The Bank of England's quarterly survey shows that public inflation expectations for the next year have risen to 3.6%. (2) Inflation expectations for the next 12 months are 3.4%. (3) Five-year inflation expectations are 3.8%. (4) All three indicators suggest the British public remains cautiously optimistic about the medium- and long-term inflation outlook.

16:31:15

[Dun & Bradstreet: India's economy exhibits broad-based endogenous momentum, and inflationary pressures continue to ease] ⑴ Dun & Bradstreet's August 2025 Economic Insights report shows that India's GDP grew by 7.8% year-on-year in the first quarter of fiscal year 2026, with the Index of Industrial Output (IIP) increasing by 3.5% in July. Manufacturing, particularly in the basic metals, electrical equipment, and non-metallic mineral products sectors, performed particularly well. ⑵ The IIP is expected to grow by 6% in August, primarily due to stable demand in the construction sector and a low base effect. The government plans to introduce new Goods and Services Tax (GST) reforms before Diwali in October, aiming to reduce taxes on essential goods, packaged foods, and electronics. ⑶ CPI inflation fell to 1.6% in July, the lowest level in over eight years, with rural and urban inflation rates falling to 1.2% and 2.1%, respectively, and food inflation turned negative. ⑷ The Wholesale Price Index (WPI) fell by 0.6% in July and is expected to remain negative at -0.2% in August, reflecting softening input costs and falling global mineral oil prices. 5. In August, the 10-year Treasury bond yield remained stable at 6.4%, and the 91-day Treasury bill yield remained at 5.4%. Bank credit growth is expected to accelerate to 11.2% from 9.6% in July. 6. The Indian rupee is expected to average 87.2 rupees per dollar in September, slightly stronger than 87.4 rupees per dollar in August. 7. Although the 50% tariff imposed by the United States on Indian exports, effective August 27, may impact the textile, jewelry, and electronics sectors, India is mitigating the impact by exploring new trading partners in Africa, Latin America, and East Asia. 8. The central bank maintained the repo rate at 5.5% and a neutral policy stance. Liquidity remained abundant, with 1.79 trillion rupees absorbed through the standing deposit facility and reverse repo operations. 9. Dun & Bradstreet's Global Chief Economist noted that India's growth trajectory remains stable, but maintaining momentum requires responding to external shocks and seizing opportunities for structural transformation. ⑽ GST rationalization reform is expected to boost urban consumption, offset export losses caused by rising tariffs, and support rural demand, which has already shown resilience.

16:30:10

Norges Bank's interest rate decision faces a complex situation. ⑴ The Norges Bank's original plan for a September 18th rate cut faces uncertainty. This follows a 25 basis point cut to 4.25% in June and a strong hint of further easing in September. ⑵ Current Norwegian economic data clearly misaligns with the signal for a rate cut: inflation remains significantly above the 2% target, wage growth in 2025 is expected to exceed the central bank's 4.5% forecast, and economic expansion is accelerating. ⑶ Analysts believe that current monetary policy is not overly tight, but rather consistent with the current economic landscape. Concerns about overtightening may be unfounded. ⑷ Despite the strengthening of the Norwegian krone (3.65% against the euro since early August and 5.5% since April), exchange rate fluctuations alone are insufficient to justify a rate cut. ⑸ The key contradiction lies in persistently high inflation, and the deflationary effects of the krone's appreciation have yet to fully materialize. The central bank must maintain a hawkish stance to achieve its inflationary control objectives.

16:29:05

[Fujian Benz Recalls Certain Imported Viano and Vito Vehicles] ⑴ Fujian Benz Automotive Co., Ltd. has filed a recall plan with the State Administration for Market Regulation. Starting September 30, 2025, it will recall certain imported Viano and Vito vehicles manufactured between February 4, 2004, and December 13, 2005, totaling 1,107 vehicles. ⑵ Vehicles covered by the recall have had their driver's front airbag replaced, potentially involving a Takata ammonium nitrate inflator without a desiccant. ⑶ After extended use, if the airbag deploys in a collision, the inflator may be damaged, causing fragments to fly, posing a safety hazard that could injure vehicle occupants. ⑷ Authorized Mercedes-Benz dealers will inspect the recalled vehicles free of charge and, based on the results, replace the driver's front airbag with an improved one to eliminate the hazard. ⑸ This recall, numbered S2025M0140V, is being implemented in accordance with the "Regulations on the Management of Recalls of Defective Automobile Products" and its implementing measures.

16:28:23

Volkswagen China Recalls Certain Imported Lamborghini Revuelto Series Vehicles: (1) Volkswagen (China) Sales Co., Ltd. has filed a recall plan with the State Administration for Market Regulation. Effective immediately, it will recall certain imported Lamborghini Revuelto series vehicles manufactured between September 18 and October 8, 2024. (2) The recall is due to a problem in which the ball pin supporting the door gas spring may not have been assembled and tightened according to manufacturing specifications, posing a risk of loosening or falling out. (3) This defect may cause the door to be difficult to open or close under its own weight when open, increasing the risk of injury to occupants. (4) Authorized Lamborghini dealers will inspect the ball pin installation for recalled vehicles free of charge and adjust it to the standard torque value to eliminate the potential problem. (5) This recall, numbered S2025V0141V, is being implemented in accordance with the "Regulations on the Management of Recall of Defective Automobile Products" and its implementing measures.

16:27:56

[National Development and Reform Commission Issues Document to Accelerate the Promotion of Remote and Off-site Bid Evaluation] ⑴ The General Office of the National Development and Reform Commission issued a notice requiring local bidding and tendering guidance and coordination departments to play a leading role, strengthen coordination with administrative supervisory departments, and promote remote and off-site bid evaluation. ⑵ The bid evaluation expert database establishment units and public resource trading centers must actively implement relevant requirements and regularly promote remote and off-site bid evaluation across prefecture-level cities within the province in accordance with technical standards. ⑶ Encourage the strengthening of cross-provincial cooperation through the signing of agreements and memoranda, clarifying collaborative mechanisms such as secondary site compensation, service guarantees, and regulatory coordination. ⑷ State-owned enterprises are encouraged to implement remote and off-site bid evaluation practices in accordance with the requirements of this notice. ⑸ The China Bidding and Tendering Public Service Platform will establish a nationwide shared node for remote and off-site bid evaluation, adhering to the principles of open source, neutrality, sharing, and compatibility to provide technical support. ⑹ The National Development and Reform Commission will organize the China Bidding and Tendering Association and relevant units to continuously optimize technical standards to enhance scientificity and operability.

16:26:03

Bulgaria's trade deficit hit a three-month high in July. (1) Bulgaria's trade deficit reached 1.5908 billion levs in July 2025, a significant increase from 544.7 million levs in the same period last year, marking the highest deficit since April. (2) Exports fell 13.2% year-on-year to 7.164 billion levs, with exports to the EU plummeting 21.1% and exports to non-EU countries increasing by only 1%. (3) Imports fell slightly by 0.5% to 8.7548 billion levs, with imports from non-EU countries falling 3% and imports from EU countries increasing 1.5%. (4) The cumulative trade deficit widened to 10.5453 billion levs from January to July this year, compared to 6.0449 billion levs in the same period last year. (5) During this period, exports fell 4.8% year-on-year, while imports rose 3.6%.

16:25:24

Czech Republic's Current Account Deficit Widens in July: (1) The Czech Republic's current account deficit widened to 14.94 billion crowns in July 2025, compared to 6.87 billion crowns in the same period last year, slightly lower than the market expectation of a deficit of 15 billion crowns. (2) This marked the third consecutive month of worsening current account deficits. (3) The primary revenue deficit widened to 26.58 billion crowns from 21.5 billion crowns in July 2024. (4) The secondary revenue deficit increased from 1.8 billion crowns to 6.5 billion crowns. (5) The goods surplus increased from 8.55 billion crowns to 9.44 billion crowns. (6) The services surplus increased from 7.88 billion crowns to 8.69 billion crowns.

16:24:43

Eurozone Inflation Approaches 2% Target, Economic Growth Remains Stable Amid Tariff Fluctuations: ⑴ The Bank of Finland issued a statement stating that the Eurozone economy remained stable amid tariff fluctuations. While economic growth exceeded expectations, it remained weak overall. ⑵ The ECB's Governing Council decided yesterday to keep key interest rates unchanged, projecting inflation to average 2.1% in 2025, 1.7% in 2026, and 1.9% in 2027. ⑶ Bank of Finland Governor Rehn stated that due to ongoing uncertainty and the inflation outlook being close to target, the Governing Council does not need to urgently adjust interest rates, but will remain vigilant and adopt a meeting-by-meeting approach. ⑷ Geopolitical and trade policy uncertainty will further weaken economic growth, but defense spending and investment could stimulate the economy, particularly in 2026 and 2027. ⑸ While defense spending will increase public debt, the stronger the economic growth it generates, the less pronounced the debt increase. ⑹ Finland's economic recovery is showing a volatile recovery, with economic growth projected at 0.3% in 2025, rising to 1.3% in 2026, and reaching 1.7% in 2027. 7. While the outlook for the corporate sector has improved, subdued household confidence continues to constrain economic growth, and the high unemployment rate will gradually decline starting next year. 8. Factors such as wage growth and low inflation will slowly drive improvements in currently weak household consumption.

16:24:09

[South Korea MFG Corn Tender Lowest Bid $234.40 per Ton] ⑴ According to traders, the lowest bid in a 70,000-ton corn tender by South Korea's Major Feed Group (MFG) is estimated at $234.40 per ton (cost and freight). ⑵ European traders confirmed that Pan Ocean Trading submitted a bid for 65,000 tons of corn of any origin, including an additional port unloading surcharge of $1.25 per ton. ⑶ The bid is for MFG's international tender launched on Friday, for up to 70,000 tons of animal feed corn. ⑷ No transactions have been reported yet; all bids are still under review. ⑸ The tender requires the corn to arrive in South Korea by January 10, 2026. ⑹ Traders emphasize that the current data is only a preliminary assessment, and prices and quantities are subject to subsequent adjustments.

16:22:23

Swedish Budget Watchdog Raises Deficit Forecast for 2025: (1) The Swedish National Fiscal Administration (ESV) projects a public deficit of -1.5% of GDP in 2025 (instead of the previously released -0.4%), a widening from the -1.4% forecast in June. (2) The public deficit for 2026 has been revised to -0.7% of GDP (instead of -0.2%), a significant upward revision from the -0.3% forecast in June. (3) The agency forecasts a public deficit of 100 billion Swedish kronor (US$10.72 billion) in 2025, equivalent to 1.5% of GDP. (4) This forecast is wider than the 90 billion kronor (1.4% of GDP) forecast in June.

16:21:46

European natural gas prices fell slightly due to increased wind power and LNG supply. ⑴ The front-month contract on the Dutch TTF hub, TRNLTTFMc1, fell €0.33 to €32.05/MWh, while the November contract, TRNLTTFMc2, fell €0.23 to €32.94/MWh. UK weekend gas prices fell 0.50 pence to 78.50 pence per thermal unit. ⑵ LSEG data shows that wind power output in Northwest Europe is expected to increase by approximately 60% on Monday compared to today, reducing natural gas demand for power plants. Norway's export nomination fell by 6 million cubic meters to 217 million cubic meters per day, while supplies to mainland Europe fell by 8 million cubic meters to 166 million cubic meters per day. ⑶ LNG exports from Northwest Europe are expected to increase by 151 GWh to 2,079 GWh per day on the same day due to increased outflows from the Zeebrugge terminal. Twenty ships are scheduled to arrive in the next two weeks, with three additional ships. Energy Aspects is slightly bearish on the TTF Winter 25 contract, believing that continued Russian Arctic LNG 2 exports pose downside risks. EU Energy Commissioner Jorgensen reiterated his commitment to halting imports of Russian oil and gas by 2028, and the EU is drafting its 19th round of sanctions against Russia. The carbon market benchmark contract CFI2Zc1 fell €0.37 to €75.17/ton.

16:19:06

ECB's Rehn: Risk of below-target inflation cannot be underestimated

16:18:49

[Federal Reserve Beige Book: Moderate Economic Growth, Easing Inflationary Pressures] ⑴ The Federal Reserve's Beige Book shows that overall economic activity grew slightly from July to August, inflationary pressures further eased, and market concerns about the economic outlook have eased. ⑵ The Beige Book notes that most districts reported flat or slightly rising consumption, with strong performance in the tourism sector, but manufacturing activity generally declined, and the real estate market remained sluggish. ⑶ Regarding the labor market, employment levels remained flat or slightly increased in most districts, businesses showed little interest in hiring, employee turnover declined, and wage growth generally slowed. ⑷ Regarding prices, inflationary pressures continued to ease, with moderate price increases in most districts, and businesses expect inflationary pressures to ease further in the coming months. ⑸ The Federal Reserve's Beige Book, compiled by the 12 regional Federal Reserve Banks, reflects the state of the U.S. economy and provides a reference for monetary policy decisions.

16:16:47

[Analyst: New York Cocoa Futures May Test $7,747 Resistance] ⑴ New York December cocoa futures may test the $7,747 resistance level per ton. ⑵ A break above this resistance level could trigger further upward movement into the $7,867 to $8,063 range. ⑶ The contract has broken through its descending trend line, indicating a reversal of the downtrend that began at $8,063. ⑷ The contract also broke through the $7,551 resistance level, with the next resistance level at $7,747. ⑸ A break below the current support level of $7,551 could trigger a decline toward the $7,235 to $7,393 range.

16:16:29

[Turkey's National Grain Authority Temporarily Purchases 18,000 Tons of Sunflower Oil] (1) The Turkish National Grain Authority (TMO) temporarily purchased approximately 18,000 tons of crude sunflower oil in an international tender. (2) 6,000 tons of this amount were sold at $1,256 per ton, C&F, for delivery to the port of Tekirdag. (3) Another 12,000 tons were sold at $1,253.80 per ton, C&F, for delivery to the ports of İskenderun and Mersin. (4) Trading company Aston was the seller in all transactions. (5) The TMO tender is a temporary transaction, subject to subsequent confirmation and subject to quantity adjustment or cancellation. (6) The required delivery period is between October 1 and October 31. (7) Traders stated that the relevant report is a preliminary assessment, and prices and quantities may be further estimated later.

16:15:58

The Pound's Trend Awaits a Split Vote at the Bank of England Meeting and Details of the QT Plan. ⑴ The Bank of England's Monetary Policy Committee is expected to maintain its policy rate at 4% on September 18th, but the vote could be split. ⑵ Member Taylor is highly likely to vote for a rate cut, and his dovish colleague Dhingra may also support easing. ⑶ If Ramsden, the Bank's most dovish member, votes for a rate cut next week, the Pound could come under pressure, but a shift to easing in November or December is more likely. ⑷ The Bank of England will also announce the scale of quantitative tightening for the coming year, projected to slow from £100 billion per year to £75 billion or £50 billion. ⑸ A reduction in quantitative tightening to £50 billion could support the Pound, as it could lower UK government bond yields. ⑹ The surge in long-term UK government bond yields to a 27-year high last week contributed to the Pound's weakness.

16:15:05

The IMF predicts Romania's economic growth will slow this year and next, necessitating urgent fiscal consolidation. (1) The International Monetary Fund (IMF) mission statement projects Romania's real GDP growth of 1.0% in 2025 and 1.4% in 2026. (2) The IMF notes that risks to the economic outlook are tilted in a two-pronged direction: "downward growth and upward inflation." (3) Romania's sovereign credit rating remains at risk of a downgrade due to ongoing concerns about the implementation of planned fiscal consolidation in 2025-26. (4) The IMF emphasizes that medium-term fiscal consolidation and additional adjustments are crucial to restoring fiscal sustainability and market confidence.

16:13:57

USD/CNH just touched the 7.1200 mark and was last trading at 7.1200, up 0.11% on the day. USD/CNH was last trading at 7.1216, down 0.08% on the day.

16:13:38

[France's CAC 40 Index Rises for Fifth Consecutive Day as Market Await Federal Reserve Decision] ⑴ France's CAC 40 Index edged up 0.1% to 7,835 points on Friday, extending its fifth consecutive day of gains. ⑵ Investors are betting on a Federal Reserve interest rate cut next week, boosting market sentiment. ⑶ US inflation data met expectations, with initial jobless claims jumping to a near four-year high, reinforcing expectations of monetary policy easing. ⑷ The European Central Bank hinted at a possible end to its rate-cutting cycle, with President Christine Lagarde noting that deflation is complete and growth risks are more balanced. ⑸ The market awaits Fitch's assessment of France's sovereign credit rating after today's market close. ⑹ Among individual stocks, Thales (+0.7%), STMicroelectronics (+1.1%), Saint-Gobain (+1.1%), and ArcelorMittal (+1.3%) rose. ⑺ Total Energy (-0.6%), Essilor Luxottica (-0.3%), and Stellantis (-0.2%) fell. ⑻ Euronext announced that it would remove TP (formerly Teleperformance) from the CAC40 index starting from the week of September 22.

16:11:55

Notice from the General Office of the National Development and Reform Commission on accelerating the promotion of remote and off-site bid evaluation.

16:11:38

Hong Kong stocks closed: Hang Seng Index rose 1.16%, Hang Seng Tech Index rose 1.71%, technology stocks generally rose, Baidu rose more than 8%, Alibaba rose more than 5%, news said the two companies are using self-developed chips to train artificial intelligence models; non-ferrous metal stocks were collectively active, Jiangxi Copper Co., Ltd. rose more than 7%.

16:11:21

UK 10-Year Gilt Yield Falls Nearly a One-Month Low] ⑴ UK 10-year gilt yields fell below 4.6%, hitting a one-month low. ⑵ Data showed economic stagnation in July, in line with expectations, with a three-month rolling growth rate of 0.2%, also in line with expectations. ⑶ Industrial and manufacturing output unexpectedly declined, and the trade deficit widened slightly. ⑷ Weak data exacerbated downward pressure on gilt yields, as investors weighed the outlook for fiscal and monetary policy. ⑸ Chancellor of the Exchequer Rachel Reeves plans to introduce further tax increases in November to plug a multi-billion-pound budget shortfall. ⑹ The Bank of England will meet next week and is expected to keep interest rates unchanged after its August cut. ⑺ Markets are focused on the November 6 meeting (before the budget), with another rate cut widely expected. ⑻ Policymakers are balancing the economic downturn, fiscal austerity, and inflation targets.

16:11:06

[Global Markets Focus on the Federal Reserve's Interest Rate Decision, Fluctuating Treasury Yields Across Countries] ⑴ The 10-year U.S. Treasury yield remains at its highest level since 2008, and UBS strategists believe there is further room for decline. ⑵ The 2-year Treasury yield rose 2 basis points to 3.548%, the 10-year rose 2.7 basis points to 4.037%, and the 30-year rose 1.6 basis points to 4.666%. ⑶ Indonesia plans to inject 200 trillion rupiah into state-owned banks, but DBS Research believes it will be unlikely to effectively boost loan growth. ⑷ UK government bond yields remained stable, with zero GDP growth in July and the 10-year Treasury yield falling slightly to 4.613%. ⑸ Gold futures rose 1% this week to $3,689.80 per ounce, on track for their fourth consecutive week of gains. ⑹ The U.S. dollar index rose 0.1% to 97.611, as markets continue to bet on significant Federal Reserve rate cuts in the coming months. ⑻ The British pound fell to a daily low of $1.3542 after the UK economy stagnated in July and manufacturing output unexpectedly declined. ⑼ The Swedish central bank is likely to cut interest rates this month due to a rapid return to target for inflation and a weak economic growth outlook. ⑽ Fitch may downgrade France's credit rating, with the 10-year French government bond yield unchanged at 3.449%. ⑾ The market is pricing in a 92% probability of a 25 basis point rate cut at the Federal Reserve's September meeting, and an 8% probability of a 50 basis point cut. ⑿ Eurozone government bond issuance is expected to fall to €106 billion in October, compared to €130 billion in September.

16:10:22

India to Resume Sugar Exports in New Crushing Season, Expected to Ease Global Supply Pressures: (1) Senior Indian government officials stated that the country will have ample surplus sugar stocks for export in the new crushing season, which begins on October 1st. (2) India is the world's second-largest sugar producer, and its exports could put pressure on international sugar prices. (3) Ashwini Srivastava, Joint Secretary of the Ministry of Food and Public Distribution, confirmed at a global conference that there is room for sugar exports in the new crushing season. (4) Despite a decline in production this season, India has allowed exports of 1 million tons of sugar in the current marketing year, which ends in September. (5) The outlook for the new crushing season is positive, with ample stocks remaining for export after meeting domestic consumption and ethanol production needs. (6) A record 4.8 billion liters of ethanol are expected to be produced from sugarcane in the new crushing season. (7) The Indian Sugar and Bioenergy Manufacturers Association estimates production will increase to 34.9 million tons in the 2025/26 marketing year. (8) Domestic sugar consumption is expected to increase from 28 million tons this year to 28.5-29 million tons in the new crushing season. ⑼ The initial carryover inventory for the new marketing year is 5 million tons, lower than the 8 million tons in the current year.

16:09:09

[Shanghai Futures Exchange International Copper Products to Launch on the Integrated Business Platform on September 19th] ⑴ The Shanghai Futures Exchange issued a notice to ensure the smooth launch of international copper products on the SHFE Integrated Business Platform. ⑵ A new trading product, international copper, with the product code BCB, will be added, with trading commencing at 9:00 AM on September 19th. ⑶ Quotation methods include full price quotations and premium/discount quotations. ⑷ Premium/discount quotations correspond to the six consecutive months of international copper futures contracts. ⑸ For example, on September 19th, the listed contracts were BC2510, BC2511, BC2512, BC2601, BC2602, and BC2603. ⑹ Trading fees for bonded standard warehouse receipts of international copper products will be temporarily waived.

16:08:58

[Analyst: CBOT Corn May Test $4.16-3/4 Support] ⑴ CBOT December corn futures may test the $4.16-3/4 support level per bushel. ⑵ A break below this support level could lead to a further decline to the $4.13 level. ⑶ The contract failed to break through the $4.20-1/4 resistance level and failed to maintain above the upper trendline of the wedge pattern. ⑷ This failed breakout increases the likelihood of a decline to $4.16-3/4. ⑸ A break above $4.20-1/4 could lead to a rise to the $4.22-3/4 to $4.24-1/2 range. ⑹ The daily chart shows the contract trading neutrally in the $4.15 to $4.25-1/4 range. ⑺ A break below $4.15 would confirm the continuation of the downward trend, while a break above $4.25-1/4 could push prices towards the $4.31-1/4 to $4.35-3/4 range.

16:08:32

EU competition chief: We want to help businesses prosper and grow in Europe, and the EU will not shy away from strict antitrust enforcement. There is clearly room for growth in cross-border banking transactions.

16:08:06

[Former Japanese Foreign Exchange Official Warns: Ultra-Low Interest Rates Exacerbate Yen Weakness and Accelerate Inflation] ⑴ Former senior Japanese foreign exchange official Toshitake Toyota stated that Japan's interest rates are too low, undoubtedly exacerbating the yen's weakness. ⑵ Toyota warned that if the current situation remains unchecked, it could accelerate inflation by pushing up import costs. ⑶ The Bank of Japan (BOJ) exited its decade-long massive stimulus policy last year and raised short-term interest rates to 0.5% in January. ⑷ Despite consumer inflation consistently exceeding the central bank's 2% target for three years, Governor Ueda pledged to slow the pace of rate hikes. ⑸ The yen plummeted to a 38-year low of 161 to the dollar last year and has remained weak for much of this year, currently trading around 147. ⑹ Toyota believes that if Japan gradually tightens its monetary policy and narrows the interest rate gap with the United States, the yen's weakness will be corrected. ⑺ From a historical perspective, the yen remains too weak and there is no reason not to strengthen significantly. ⑻ He recalled the public protests sparked by the yen's surge following the Plaza Accord in 1985, noting that Japan should have embraced the yen's appreciation and used it to reduce its reliance on exports. ⑼ Regarding the export industry's cautious attitude toward a stronger yen, Toshitake Toyota noted that this sentiment is "very different from the past."

16:06:32

[Analyst: CBOT Wheat May Fall Back to $5.15-1/4 to $5.17-1/2] ⑴ CBOT December wheat futures may fall back to the $5.15-1/4 to $5.17-1/2 per bushel range. ⑵ The contract previously failed to break through the $5.21 resistance level. ⑶ The failure to break through resistance indicates that the rebound from $5.11-3/4 has been completed. ⑷ The contract may retest the low of $5.11-3/4 or fall back to the $5.15-1/4 to $5.17-1/2 support range. ⑸ If it breaks through $5.21, it may rise further to the $5.23-3/4 to $5.26-1/2 range. ⑹ A breakout above $5.22-1/4 would confirm the breakout. ⑺ The daily chart shows a bullish engulfing pattern formed on September 10-11, suggesting further gains on the 12th. ⑻ According to this technical analysis, the decline on the hourly chart may be the second stage of the rebound, after which the upward trend will resume.

16:05:40

Türkiye temporarily purchased about 18,000 metric tons of sunflower oil, traders said.

16:05:30

France's CPI year-on-year rate excluding tobacco for August - unadjusted final value

Previous : 0.90% Forecast : 0.90%

美元

欧元金银

Published Value 0.80%

16:05:30

France's CPI year-on-year rate excluding tobacco for August - unadjusted final value

Previous : 0.90% Forecast : 0.90%

美元

欧元金银

Published Value 0.80%

16:05:05

Austrian National Bank Raises Inflation Forecast, Maintains 0.3% GDP Growth Forecast for This Year] ⑴ The Austrian National Bank released its latest economic forecast, confirming that the country will narrowly avoid a third consecutive year of recession in 2025. ⑵ The central bank maintained its June forecast for 0.3% GDP growth this year, but lowered its growth forecast for next year from 0.9% to 0.8%. ⑶ The central bank significantly raised its inflation forecast, projecting 3.5% for the High Inflation Rate (HICP) this year, up from 3.0% in its June forecast. ⑷ The inflation forecast for next year was raised by 0.6 percentage points to 2.4%. ⑸ The central bank's statement stated that "the main reason for the rebound in inflation is the sharp rise in energy prices at the beginning of the year," which is related to the expiration of family subsidies implemented following the Russia-Ukraine conflict. ⑹ Inflation in the services sector is expected to remain high, driven primarily by wage growth. ⑺ Austria's High Inflation Rate (HICP) inflation reached 4.1% year-on-year in August, the highest in Western Europe. ⑻ Only Estonia, Latvia, Croatia, and Slovakia have higher inflation rates in the Eurozone than Austria.

16:04:34

[Australian Dollar Hits 10-Month High Against the US Dollar, Market Focus on Fed Rate Cut Expectations] ⑴ The Australian Dollar (AUD) hit a 10-month high of 0.6668 during Asian trading hours, breaking through 0.6664. ⑵ 0.6664 was Thursday's high, after a sharp rise in US initial jobless claims weighed on the US dollar. ⑶ The market expects the Federal Reserve to cut interest rates by 25 basis points next week, with expectations for further cuts to follow. ⑷ CFTC data, to be released at 7:30 PM Beijing time, will reveal whether net short Australian dollar positions decreased further in the week ending September 9. ⑸ Net short Australian dollar positions fell 18% to 82,683 contracts in the week ending September 2. ⑹ Resistance levels for the AUD/USD include 0.6687 (November 2024 high) and the 0.67 level.

16:03:21

Czech current account deficit in July: 14.94 billion Czech crowns

16:03:00

UK Gilt Yields Remain Steady as GDP Stagnates in July (1) UK gilt yields remained stable after data showed zero month-over-month GDP growth in July, compared to 0.4% in June. (2) Investors are concerned about the combination of a weak UK economy and high inflation. (3) Moneyfarm analyst Richard Flax noted: "The economy appears to be weighed down by weak household spending, subdued business investment, and ongoing trade frictions." (4) Flax stated that stagnant GDP and high inflation make it difficult for the Bank of England to balance its dual goals of curbing inflation and supporting economic growth. (5) Data showed that the 10-year UK gilt yield fell slightly to 4.613%, having hit a four-week low of 4.596% on Thursday.

16:02:29

Italy's unemployment rate in the second quarter alone

Previous : 6.10% Forecast : -

Published Value 6.30%

16:01:18

LME Daily inventory changes in the UK on September 12th - Lead

Previous : -4375 Forecast : -

Published Value -3050

16:01:05

LME Daily inventory changes in the UK on September 12th - Zinc

Previous : -200 Forecast : -

Published Value -100

16:00:55

LME Daily Inventory changes in the UK on September 12th - Tin

Previous : -25 Forecast : -

Published Value 235

16:00:48

LME Daily inventory changes in the UK on September 12th - Nickel

Previous : 2058 Forecast : -

Published Value 1932

16:00:40

LME Daily inventory changes in the UK on September 12th - Copper

Previous : -875 Forecast : -

Published Value -225

16:00:32

LME Daily inventory changes in the UK on September 12th - Primary aluminum

Previous : 0 Forecast : -

Published Value 0

16:00:29

LME Daily inventory changes in the UK on September 12th - Cobalt

Previous : 0 Forecast : -

Published Value 0

16:00:27

LME Daily inventory changes in the UK on September 12th - Main NASAAC aluminum alloys

Previous : 0 Forecast : -

Published Value 0

16:00:25

LME Daily Inventory changes in the UK on September 12th - Aluminum Alloy

Previous : 0 Forecast : -

Published Value 0

15:57:33

Imported rapeseed C&F prices increased: (1) The C&F price of Canadian rapeseed (November shipment) was quoted at US$525/ton, up US$4/ton from the previous trading day. (2) The C&F price of Canadian rapeseed (January shipment) was quoted at US$534/ton, up US$4/ton from the previous trading day.

15:56:36

Microsoft: We appreciate the dialogue and agreement with the European Commission and will implement the new obligations quickly and fully.

15:56:20

[National fiscal education expenditure as a percentage of GDP has exceeded 4% for ten consecutive years] ⑴ A relevant official from the Ministry of Finance stated that the educational level of the entire population continues to improve. ⑵ By the end of 2024, the proportion of national fiscal education expenditure to GDP has remained above 4% for more than ten consecutive years. ⑶ During the 14th Five-Year Plan period, national fiscal education investment is expected to exceed 25 trillion yuan, a 38% increase over the 13th Five-Year Plan period. ⑷ The level of education at all levels will reach or exceed the level of middle- and high-income countries. ⑸ By 2024, the compulsory education consolidation rate will reach 95.9%, and the gross enrollment rate in higher education will exceed 60%. ⑹ The average years of education for the working-age population will reach 11.21 years, an increase of 0.41 years from the end of the 13th Five-Year Plan.

15:56:04

Lu'an Environmental Energy's August raw coal production reached 4.17 million tons, a year-on-year decrease of 15.24%. (1) August raw coal production reached 4.17 million tons, a year-on-year decrease of 15.24%, bringing cumulative production to 37.3 million tons. (2) August commercial coal sales reached 3.78 million tons, a year-on-year decrease of 13.70%, bringing cumulative sales to 33.01 million tons. (3) The company notes that the above data is preliminary and may differ from the data disclosed in its periodic reports. (4) This data is provided solely for investors to gain timely information on the company's production and operating conditions.

15:55:21

Baiyun Airport's August Operational Data Shows Steady Growth: (1) 48,164 takeoffs and landings in August, a year-on-year increase of 5.96%. (2) Passenger throughput reached 7.3384 million, a year-on-year increase of 4.33%. (3) Cargo and mail throughput reached 202,000 tons, a year-on-year increase of 1.59%.

15:55:12

[Germany's DAX Index Rises Slightly, Market Focuses on US and European Monetary Policy Trends] ⑴ The Frankfurt DAX Index rose slightly on Friday, breaking through the 23,700 point mark. ⑵ The market's cautious optimism stems primarily from expectations of an impending interest rate cut by the US Federal Reserve. ⑶ The European Central Bank signaled the end of its rate-cutting cycle. ⑷ ECB President Christine Lagarde stated that the Eurozone economy is currently in "good shape" and that growth risks are now more balanced. ⑸ Investors also continue to monitor US tariff policy. ⑹ Trump is pressuring the G7 to impose tariffs on countries (such as India) that purchase Russian oil.

15:54:09

International soybean prices generally rose, with premiums and discounts remaining mostly stable. ⑴ The C&F price for US Gulf soybeans (October shipment) was quoted at $466/ton, up $4/ton from the previous trading day. ⑵ The C&F price for US West Coast soybeans (October shipment) was quoted at $445/ton, up $3/ton from the previous trading day. ⑶ The C&F price for Brazilian soybeans (October shipment) was quoted at $490/ton, up $5/ton from the previous trading day. ⑷ The premium and discount for Gulf of Mexico soybeans (October shipment) was quoted at 235 cents/bushel, unchanged from the previous trading day. ⑸ The premium and discount for US West Coast soybeans (October shipment) was quoted at 178 cents/bushel, unchanged from the previous trading day. ⑹ The premium and discount for Brazilian port soybeans (October shipment) was quoted at 300 cents/bushel, up 5 cents/bushel from the previous trading day.

15:53:57

[SHFE Adjusts Designated Delivery Warehouse Storage Location for Natural Rubber Futures] ⑴ The Shanghai Futures Exchange (SHFE) issued an announcement regarding the receipt of relevant application materials submitted by Hainan Port and Shipping Logistics Co., Ltd. ⑵ In accordance with the "Shanghai Futures Exchange Delivery Warehouse Management Measures" and other relevant regulations, after deliberation, the following decisions have been made: ⑶ The designation of Hainan Port and Shipping Logistics Co., Ltd.'s natural rubber futures storage location at 69 South First Ring Road, Laocheng Economic Development Zone, Chengmai County, Hainan Province, in the Haikou Comprehensive Bonded Zone has been approved for cancellation. ⑷ The adjusted storage location will be located at 16 Yangpu Avenue, Yangpu Economic Development Zone, Danzhou City, Hainan Province. ⑸ The approved storage capacity remains unchanged at 26,000 tons. ⑹ From the date of this announcement, the company must conduct natural rubber futures delivery warehouse operations at the adjusted storage location. ⑺ Requires strict implementation of relevant regulations and strengthened management to ensure the normal and orderly operation of delivery warehouse operations.

15:53:28

International vegetable oil futures prices mostly rose. ⑴ Argentine soybean oil (October shipment) C&F price was reported at $1,145/ton, up $12/ton from the previous trading day. ⑵ Argentine soybean oil (December shipment) C&F price was reported at $1,148/ton, up $10/ton from the previous trading day. ⑶ Canadian rapeseed oil (October shipment) C&F price was reported at $1,070/ton, unchanged from the previous trading day. ⑷ Canadian rapeseed oil (December shipment) C&F price was reported at $1,050/ton, unchanged from the previous trading day.

15:52:21

Indonesia is preparing to implement tax incentives for hotels, restaurants and cafes; and will extend welfare programs to motorbike drivers.

15:51:54

Israeli media "Israel Public Broadcasting Corporation" (KAN): The UAE summoned the Israeli ambassador over Israel's attack on Hamas leaders in Doha.

15:50:48

[FTSE 100 Index Gains for Two Consecutive Days, Led by Strong Gains from Mining Stocks] ⑴ The FTSE 100 Index rose on Friday, extending its gains for a second consecutive trading day, with mining stocks as the primary driver of gains. ⑵ Fresnillo's share price surged by approximately 4%, Antofagasta and Endeavor Mining both rose by over 2%, Glencore rose by nearly 2%, and Rio Tinto rose by over 1%. ⑶ Gold prices hit a record high, while broader metal prices strengthened, providing strong support for the mining sector. ⑷ In corporate news, Vodafone announced a partnership with UEFA and UC3 to support men's and women's football, a move expected to boost its brand exposure in European sports. ⑸ Regarding economic data, UK GDP remained flat month-over-month in July, in line with market expectations; the three-month rolling growth rate also met expectations, reaching 0.2%. ⑹ However, industrial production and manufacturing output unexpectedly declined, and the trade deficit widened slightly more than market expectations.

15:41:25

[Two departments clarify market participation mechanisms for local consumption projects of new energy] ⑴ The National Development and Reform Commission and the National Energy Administration jointly issued the "Notice on Improving the Pricing Mechanism to Promote Local Consumption of New Energy Power Generation." ⑵ The notice clarifies that local consumption projects participate in the electricity market on an equal footing, enjoying the same market status as other power generation companies and electricity users. ⑶ In principle, projects will participate in electricity market transactions as a unified entity, and the on-grid electricity generated will not be included in the price settlement mechanism for sustainable development of new energy. ⑷ In areas where the spot market operates continuously, on-grid electricity trading and price settlement for projects will be conducted according to market rules. ⑸ In areas where the spot market does not operate continuously, in principle, no reverse power transmission to the public grid will be made, and no power transmission settlement will be conducted. ⑹ When using electricity, projects must directly participate in market transactions and may not have power purchased on behalf of grid companies. They must bear the cost of line losses at the on-grid connection based on the amount of electricity generated. ⑺ Public grids are required to provide reliable power supply services to eligible local consumption projects based on their grid connection capacity. ⑻ Projects must establish clear physical and safety responsibility interfaces and use renewable energy generation as their primary power source. ⑼ Self-generated electricity from renewable energy sources must account for at least 60% of total available power generation capacity. ⑽ Self-generated electricity from renewable energy sources must account for at least 30% of total power consumption, and starting in 2030, this must be at least 35% for new projects. ⑾ Power grid companies must install metering devices at various points, including power generation, factory power consumption, and grid connection, to ensure accurate data. ⑿ The new regulations aim to promote the local consumption and utilization of renewable energy power generation by improving pricing mechanisms.

15:40:47

[Sany Heavy Industry completes industrial and commercial registration change with registered capital of approximately 84.744 billion yuan] ⑴ Sany Heavy Industry Co., Ltd. completed the industrial and commercial registration change and "Articles of Association" filing procedures on September 12, 2025, and obtained the "Business License" reissued by the Beijing Changping District Market Supervision Administration. ⑵ The company's 2024 annual shareholders' meeting reviewed and passed the "Proposal on Repurchasing and Cancelling Part of Restricted Shares" on May 9. ⑶ The company completed the cancellation procedures for 588,000 shares on August 6. ⑷ The latest registration information shows that the company's registered capital is 847,439,003,700 yuan. ⑸ The legal representative is still Xiang Wenbo, and the business scope covers the production, sales and maintenance of engineering machinery, buses, agricultural machinery and other products.

15:39:05

[Shanghai Pharmaceuticals' Antipsychotic Drug Receives Marketing Authorization in the Philippines] ⑴ Shanghai Pharmaceuticals announced that its subsidiary, Shanghai SPH Sino-Western Pharmaceutical Co., Ltd., has obtained a drug registration certificate from the Philippine Food and Drug Administration (FDA). ⑵ The drug has been officially approved for marketing in the Philippine market, with registration fees of approximately 50,000 yuan. ⑶ Aripiprazole tablets are an antipsychotic medication primarily used to treat manic episodes of schizophrenia and bipolar disorder. ⑷ The drug can also be used as an adjunctive treatment for depression. ⑸ In 2024, total sales of aripiprazole tablets (10mg) in the Philippine market reached US$2.39 million.

15:35:15

Economists Say the Federal Reserve's Probability of a September Rate Cut Rises, Signaling Labor Market Weakness. (1) ICIS economist Kevin Swift stated on September 12 that the latest US CPI report will make the Federal Reserve's interest rate decision "more challenging." (2) Swift noted that given the weakening labor market, the Fed could still decide to cut rates at its September meeting. (3) Although wages grew 3.9% year-over-year in August, the growth rate has shown signs of slowing, which will weaken real income growth and support for consumer spending. (4) Initial jobless claims recently rose to their highest level since October 2021. (5) Swift believes: "This could be the beginning of increased layoffs and a weakening labor market, and data over the next week or two will provide more clarity."

15:34:30

[Two departments issue document to improve pricing mechanism for local consumption of renewable energy power generation] ⑴ The National Development and Reform Commission and the National Energy Administration jointly issued a notice on improving pricing mechanisms to promote local consumption of renewable energy power generation. ⑵ The notice clarifies that for projects where power sources, loads, and energy storage are connected to the public grid as a whole, the public grid must provide reliable power supply services according to the grid connection capacity. ⑶ Projects must establish clear physical interfaces and safety responsibility interfaces, with renewable energy generation as the primary power source. ⑷ Power sources for local consumption projects should be connected to the user side of the property boundary between the user and the public grid. ⑸ The proportion of self-generated and self-consumed electricity from renewable energy sources must account for no less than 60% of total available power generation. ⑹ The proportion of self-generated and self-consumed electricity must account for no less than 30% of total electricity consumption, and no less than 35% for new projects starting in 2030. ⑺ Projects must have separate metering conditions, and the grid company must install metering devices for power generation, plant power consumption, and grid connection. ⑻ The new regulations require accurate measurement of electricity data at all stages to ensure the standardized operation of local consumption projects.

15:33:16

A Kyodo News poll showed Sanae Takaichi leading the Liberal Democratic Party with 28% support, while Junichiro Koizumi had 22.5%.

15:32:23

The European Union accepted Microsoft's commitment to settle the European Union antitrust case.

15:32:14

A Kyodo News poll showed that Japan's cabinet approval rating rose 1.8 percentage points to 34.5%.

15:32:08

ECB ESCRIVA: France must comply with fiscal rules.

15:32:02

GBP/JPY just touched the 200.00 mark and is currently trading at 200.00, up 0.10% on the day.

15:31:44

[Microsoft and OpenAI announce restructuring of their partnership] ⑴ Microsoft and OpenAI have reached a non-binding agreement to restructure their partnership. ⑵ The agreement allows the maker of ChatGPT to advance its transition to a for-profit company. ⑶ The specific terms have not yet been fully disclosed, and both parties stated that they are still finalizing the details of the agreement. ⑷ Microsoft invested $1 billion in OpenAI in 2019 and an additional $10 billion in 2023. ⑸ The original agreement gave Microsoft the exclusive right to sell OpenAI tools through the Azure cloud and was its exclusive computing power provider. ⑹ OpenAI hopes to adopt a more traditional corporate structure and seek partnerships with other cloud service providers. ⑺ The new transaction still needs to be approved by the attorneys general of California and Delaware and may face regulatory hurdles. ⑻ If OpenAI fails to complete its for-profit transition by the end of the year, it may face the risk of billions of dollars in time-sensitive financing losses.

15:30:48

European Stocks Rise to Three-Week Highs as Markets Bet on an Imminent Fed Rate Cut: ⑴ The Stoxx Europe 50 Index edged up 0.1% to 5,390 points on Friday, while the pan-European Stoxx 600 Index rose 0.1% to 555 points. ⑵ Rising US unemployment data and modest inflation growth reinforced market expectations of a Fed rate cut next week and at subsequent meetings. ⑶ The European Central Bank (ECB) made it clear that its rate-cutting cycle is over, with President Christine Lagarde stating that the central bank is in an "ideal position" and that growth risks are balanced. ⑷ Spain's Banco Sabadell fell 0.6% after its board unanimously rejected BBVA's €15 billion takeover bid and urged shareholders not to sell. ⑸ Ryanair's CEO told the Financial Times that the airline may cut another one million flights to Spain in protest of Spain's tax policies. ⑹ The UK economy grew by zero percent in July, a significant slowdown from June's 0.4% growth rate. This data will be closely watched by the Bank of England at its policy meeting next week.

15:29:59

[Japanese stocks continue to hit new highs at the close, with a cumulative increase of 12.22% this year] ⑴ On Friday, the Nikkei 225 index showed a strong trend during today's intraday trading session, climbing 1.16% at one point, reaching a high of 44888.02 points, once again breaking the historical high; by the close, the index's increase narrowed slightly, and finally closed up 0.89% at 44768.12 points, also setting a new historical closing high. ⑵ From the perspective of annual performance, the Nikkei 225 index has risen by 12.22% so far this year. From the perspective of the market structure, during the rise of the index today, semiconductor and machinery manufacturing stocks performed actively, and the intraday gains of many stocks once broke through

15:28:42

[South Korean stocks rose for nine consecutive days and set a new historical high. The weekly increase of 5.94% set a record in nearly four and a half years.] On Friday, the Korean Composite Index closed up 51.34 points to 3395.54 points, an increase of 1.54%, achieving nine consecutive increases and once again setting a new historical peak. The market noticed that chip giant SK Hynix announced that it had completed the development of HBM4 and entered the mass production preparation stage. Its stock price once soared by 5.9% during the session, becoming an important driving force for the index to rise. The index rose by 5.94% this week, the largest weekly increase since January 2021; the cumulative increase this year has reached 41.51%, continuing the strong performance since the beginning of this year.

15:27:18

Turkey's Current Account Turns Surplus in July: (1) Turkey's current account surplus reached $1.77 billion in July, a significant increase from $1.39 billion in the same period last year, ending eight consecutive months of deficits. (2) The improvement was primarily due to an increase in the services account surplus, which widened from $7.71 billion to $8.02 billion. (3) The goods account deficit narrowed during the same period, falling from $5.07 billion to $4.64 billion. (4) The primary income deficit widened, from $1.34 billion in July last year to $1.46 billion. (5) The secondary income balance showed a $160 million deficit, reversing a $90 million surplus in the same period last year.

15:27:07

[Ministry of Finance: Issuing 500 Billion Yuan of Special Treasury Bonds to Recapitalize Banks Expected to Leverage 6 Trillion Yuan in Credit] ⑴ Minister of Finance Lan Fuan stated at a press conference on September 12 that fiscal and monetary policies will work together to create a synergistic policy force. ⑵ This year, 500 billion yuan of special treasury bonds will be issued specifically to inject capital into large commercial banks. ⑶ This funding is expected to leverage approximately 6 trillion yuan in credit. ⑷ Lan Fuan emphasized that the Ministry of Finance will maintain policy continuity and stability, while enhancing flexibility and foresight. ⑸ The next step will be to strengthen forward-looking analysis of the situation, prepare policy reserves, and proactively implement them. ⑹ The above measures are intended to contribute fiscal resources to high-quality economic and social development.

15:25:52

South Korean officials: Once the visa issue is resolved, some LG employees are ready to go to the United States.

15:25:11

[Shanghai Containerized Freight Index fell 3.2% month-on-month] ⑴ According to data from the Shanghai Shipping Exchange, as of the 12th, the Shanghai Containerized Freight Index (SCFI) was at 1398.1 points, down 46.33 points from the previous period. ⑵ The China Containerized Freight Index (CCFI) was at 1125.3 points, down 2.1% from the previous period.

15:23:53

France's unadjusted CPI reading for August

Previous : 121.62 Forecast : -

Published Value 122.13

50

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Jufeng Bullion

More than 10 years | License of the Gold and Silver Exchange | New customers receive a bonus

Overall Rating 88.0

Real-Time Popular Commodities

Instrument	Current Price	Change
XAU	3658.13	13.86 (0.38%)
XAG	42.309	0.516 (1.23%)
CONC	63.05	-0.21 (-0.33%)
OILC	67.27	-0.20 (-0.29%)
USD	97.384	0.028 (0.03%)
EURUSD	1.1773	-0.0011 (-0.10%)
GBPUSD	1.3544	-0.0010 (-0.08%)
USDCNH	7.1103	0.0037 (0.05%)

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