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2025-10-28 Tuesday

2025-11-04

18:30:39

ECB's Panetta: Euro appreciation significantly weakens EU product price competitiveness

18:30:34

India's manufacturing output monthly rate in September

Previous : 3.80% Forecast : -

Published Value 4.80%

18:30:34

India's cumulative industrial output year-on-year rate for the fiscal year September - from April to the current cycle month

Previous : 2.80% Forecast : -

Published Value 3%

18:30:31

India's annual rate of industrial output in September

Previous : 4% Forecast : 3%

Published Value 4%

18:28:32

The 55th Chairpersons' Meeting of the Standing Committee of the 14th National People's Congress (NPC) decided to submit the draft amendment to the Maritime Code and other items for a vote at the NPC Standing Committee meeting. The 55th Chairpersons' Meeting of the NPC Standing Committee was held at the Great Hall of the People in Beijing on the afternoon of the 28th. Chairman Zhao Leji presided over the meeting. The meeting heard reports from Xin Chunying, Chairman of the NPC Constitution and Law Committee, on the review of the revised draft amendment to the Maritime Code, the revised draft decision on amending the Organic Law of Villagers' Committees, the revised draft amendment to the Organic Law of Urban Residents' Committees, the revised draft decision on amending the Cybersecurity Law, and the revised draft decision on amending the Environmental Protection Tax Law. The meeting also reviewed the voting drafts of the relevant drafts. The meeting also heard reports from Liu Qi, Secretary-General of the NPC Standing Committee, on the review of the results of the deliberations on the proposals submitted by representatives of the five special committees of the NPC, namely the Supervisory and Judicial Committee, the Finance and Economics Committee, the Overseas Chinese Affairs Committee, the Environmental and Resources Protection Committee, and the Social Development Committee. The Chairpersons' Meeting decided to submit the aforementioned draft items for a vote at the closing session of the 18th session of the NPC Standing Committee. (Xinhua News Agency)

18:22:36

US Commerce Secretary Lutnick: $490 billion investment agreement to be signed in Japan

18:22:27

Yen rebounds strongly above 152, raising hawkish expectations for the Bank of Japan (BOJ) (1) The yen was the best performing currency today, with USD/JPY falling below the key 152.00 level after forming a double top technical pattern at 153.25. (2) Japanese Growth Strategy Minister Toshifumi Kiuchi expressed continued concern about the economic impact of a weak yen, suggesting authorities are concerned about the pace and magnitude of depreciation. (3) The market expects the Bank of Japan to maintain its interest rate at 0.50% this week, but swap market pricing suggests a near 50% probability of a rate hike before December, with a 25 basis point hike fully priced in for the first quarter of 2026. (4) Core inflation continues to exceed the 2% target and is above the Bank of Japan's forecast, creating conditions for the Bank of Japan to normalize its policy, coupled with a new economic stimulus package exceeding 13.9 trillion yen.

18:22:09

[Texas Energy Fund Invests $1.1 Billion to Launch 13.5 GW Natural Gas Project] (1) OPC Energy, through a joint venture, has secured $1.1 billion in loan financing from the Texas Energy Fund for the Basting Ranch natural gas-fired power project. (2) Located in Texas, the project has a total installed capacity of 13.5 GW and will significantly enhance regional power supply upon completion. (3) OPC Energy, a subsidiary of Ken Holdings, indirectly holds a 70% stake in the project through CPV Group. The loan agreement marks the beginning of the project's substantial progress.

18:21:15

Foreign holdings of Indian government bonds hit a record high, driven by diversification needs and expectations of rate cuts. ⑴ Foreign holdings of Indian government bonds exceeded a record high of 3.11 trillion rupees (approximately US$35.35 billion), accounting for 6.8% of all issuance, with fully accessible bonds becoming the primary investment target. ⑵ The inclusion of Indian bonds in the three major international indices, coupled with a weak US dollar and demand for local debt in emerging markets, is driving global capital to seek diversification. ⑶ The Reserve Bank of India has cut interest rates by 100 basis points this year and signaled further easing, with the market generally expecting another 25 basis point cut in December. Low inflation and dovish guidance create a favorable environment. ⑷ The central bank's single-day sales of US$5 billion this month to defend the rupee have boosted foreign investor confidence, with political stability and progress in trade negotiations contributing to its appeal.

18:17:22

Philippines Receives $55 Million Green Loan to Accelerate 2GW Solar Deployment: (1) Hitico Solar Corporation of the Philippines has secured a $55 million loan from Singapore-based Pentagreen Capital, a debt platform jointly backed by HSBC and Temasek. (2) The funds will be used to accelerate the deployment of 2 GW of solar power and 760 MWh of battery energy storage projects, encompassing eight solar parks with a total capacity of 640 MW. (3) The project spans four locations, including Pangasinan and Batangas Provinces. Three sites in Batangas will be equipped with 760 MWh of energy storage systems, creating the country's first baseload solar park. (4) The company plans to achieve 5 GW of renewable energy capacity by 2030, with the first 1 GW project expected to be operational by the end of this year.

18:13:48

European natural gas stabilizes, supported by key technical support, while loose supply and demand limits gains. ⑴ The Dutch TTF benchmark front-month contract edged up €0.29 to €31.55/MWh, hitting an intraday low of €31.14, its lowest level since October 3rd. The UK front-month contract also rose 0.38 pence to 79.22 pence/therm. ⑵ Analysts point to €31/MWh as key technical support, but forecasts of warm weather and stable pipeline and LNG supplies continue to suppress demand, with wind power growth leading to net inventory injections. ⑶ European gas storage capacity is currently 82.79%, significantly lower than 95.21% in the same period last year. Vitol expects inventories to fall to 35% by the end of winter. ⑷ Although short-term wind weakening and falling temperatures have pushed up day-ahead contracts, increased pipeline gas from Norway and Algeria and expectations of a mild winter in the medium term have kept the market accommodative.

18:12:55

[Global government bond yields diverge: the UK and the US lead, while Germany and Japan are at the bottom] ⑴ The US two-year Treasury bond yield reached 3.496%, 152 basis points higher than Germany, but 27.1 basis points lower than the UK, forming a high yield area among developed countries. ⑵ Japanese government bond yields continued to be at the bottom, with two-year 0.937% and ten-year 1.640% 255.9 basis points and 234.2 basis points lower than the US respectively, highlighting the divergence in monetary policy. ⑶ Germany, as the benchmark for the euro zone, has a ten-year yield of 2.617%, which shows a clear gradient compared with neighboring countries: Italy is 75.8 basis points higher, France is 80.6 basis points higher, and Spain is 52.8 basis points higher. ⑷ A comparison of term spreads shows that the spread between the US ten-year and two-year bonds narrowed to 48.5 basis points, while that of the UK reached 62.8 basis points, reflecting the differences in market expectations for inflation among countries.

18:11:05

Portugal's Short-Term Government Bonds Are Overvalued, and Pressure for a Convergence in the Yield Spread Appears. (1) After adjusting for the directional nature of the yield spread, Portugal's two-year government bond yield appears overvalued relative to its Dutch counterpart. (2) Regression analysis based on three-month constant-term yields shows that Portugal's two-year yield is 3.4 basis points higher than its Dutch counterpart after beta adjustment. (3) This yield spread has reached 2.5 standard deviations, significantly deviating from the historical mean, indicating convergence pressure on the bond spreads between the two countries.

18:10:05

The UK successfully issued £1.5 billion of inflation-linked government bonds, with real yields falling. (1) The UK Debt Management Office successfully issued £1.5 billion of inflation-linked government bonds maturing in September 2035 on Tuesday, attracting bids totaling £4.4 billion and a bid-to-cover ratio of 2.94. (2) The real yield of this issuance was 1.571%, a significant decrease from the 1.673% of the previous issuance on October 1st, and the issue price rose accordingly to £95.92. (3) Although the bid-to-cover ratio was slightly lower than the previous issuance of 3.09 times, strong demand still pushed the real yield down, indicating that market expectations for long-term inflation remain stable.

18:08:21

[Indian rupee stabilizes at 88.26, central bank intervenes in multiple markets to offset depreciation pressure] ⑴ The Indian rupee closed flat at 88.2650 on Tuesday, having fallen to a two-week low of 88.40 during the session. The central bank stabilized the exchange rate through two-way intervention in the spot and non-deliverable forward markets. ⑵ Since the tariff measures took effect at the end of August, the slow progress in US-India trade negotiations has continued to drag down the rupee, while importers' demand for US dollars has remained high. ⑶ Five traders confirmed that the central bank intervened in the market, and private bank traders pointed out that there was a strong central bank presence in the non-deliverable forward market, but the upward pressure on the US dollar against the rupee remained. ⑷ In addition to corporate foreign exchange purchase demand, US dollar purchases related to the expiration of non-deliverable forward positions will continue to put pressure on the rupee in the short term.

18:05:02

German Economy Minister: The United States acknowledged in a letter that Rosneft's operations in Germany are completely independent of its Russian parent company

18:04:31

Italian Government Bond Issuance Smooth, Short-Term Yields Decline: (1) Italy successfully issued €3.5 billion in government bonds, including €2 billion in bonds maturing in August 2027 with a total yield of 2.15%, and €1.5 billion in bonds maturing in May 2036 with a total yield of 1.72%. (2) The bid-to-cover ratio for short-term bonds was 1.71 times, while that for long-term bonds was 1.68 times, indicating stable market demand. (3) The yield on the August 2027 bond fell 8 basis points compared to the previous issuance, reflecting continued improvement in demand for short-term bond allocations.

18:04:28

Spot platinum just broke through the $1,550.00/ounce mark and was last trading at $1,550.35/ounce, down 2.96% on the day. The main Nymex platinum futures contract was last trading at $1,527.2/ounce, down 3.56% on the day.

18:03:17

[Federal Reserve Interest Rate Meeting Preview: Cautious Decisions in the Face of Data Shortage] ⑴ Given the limited economic data available due to the ongoing US government shutdown, institutions expect the Federal Reserve to adopt a cautious approach in its interest rate decision on Wednesday, with the market generally expecting a 25 basis point rate cut. ⑵ Analysts predict that Powell will maintain his message of "solid growth and a broadly balanced labor market," but may emphasize that the economy faces mild downside risks. ⑶ The coexistence of stable long-term inflation expectations and a weak labor market suggests that upward price pressures are manageable, and the policy focus will be on forward guidance on the future path of interest rates.

18:03:05

Copper Prices Fall from Highs, Chilean Production Expectations Suppress Market Sentiment: ⑴ Copper prices on the London Metal Exchange fell 0.9% to $10,900 per ton, failing to sustain the previous bullish trend of breaking through the $11,000 mark. ⑵ Despite market optimism regarding trade negotiations, mining giant Anglo American announced a review of its Chilean production guidance, putting pressure on the market. ⑶ The group's Collahuasi plant expects production to remain flat compared to 2025, and its previous forecast of 440,000-470,000 tons of Chilean copper production in 2026 faces revisions. ⑷ The current price correction suggests that fundamental factors are offsetting trade optimism, making supply-side changes a key variable influencing short-term trends.

18:02:42

Sberbank says its 2025 profit will be higher than 2024

18:02:20

India's Oil Minister: Global refinery closures will help India expand its refining capacity

18:02:14

India's oil minister: India's refining capacity is expected to increase from the current 258 million tons/year to 310 million tons/year in 2030

18:00:11

[Spain's political turmoil fails to shake bond market confidence] ⑴ Spain's ruling coalition lost its usual support from Catalan separatist parties, leaving the government with a parliamentary deficit of 146 seats to 176, dimming the prospects for budget passage in 2026. ⑵ If the budget fails again, the 2023 budget framework will remain in place, but this will not shake bond market demand—the fiscal deficit is expected to fall to 2.5%-2.8% in 2025, well below the EU's 3% threshold. ⑶ Spain's post-pandemic economic performance continues to outperform the EU, with growth exceeding the EU average by 2 percentage points from 2022 to 2024. Although growth may slow to 2.0% in 2026, solid fundamentals provide support for the bond market. ⑷ The Senate has initiated constitutional proceedings, requiring the government to submit a budget within a month. However, the impact of political deadlock on government bond spreads is far less than similar risks in France.

17:58:36

Is the fragile rebound just an illusion? The euro hides three hidden dangers, and bears may be cornered! Details>

17:58:24

Austrian Mortgage-Backed Bonds See Strong Subscription, Oversubscribed 4.7 Times] (1) Austria's HYPO NOE Bank successfully issued €500 million in mortgage-backed bonds, priced at the medium-term swap rate plus 32 basis points, 6 basis points tighter than the initial guidance price. (2) The bonds received over €2.35 billion in subscriptions (including €300 million in purchases by the co-lead managers), with an oversubscription ratio of 4.7 times, demonstrating strong market demand. (3) The bonds have a maturity date of January 7, 2031 (with an extension option of up to 12 months) and are expected to receive an Aa1 rating from Moody's. Settlement is expected on November 4. (4) The issuance was jointly led by six institutions, including Danske Bank and Elster Bank, under the bank's €9.5 billion debt issuance program and is open only to professional investors.

17:57:46

[UK Fiscal Alert: Productivity Forecasts Revised Downwards, Leaving a £30 Billion Black Hole] ⑴ The UK Office for Budget Responsibility expects a sharp downward revision of its key productivity forecast by 0.3 percentage points, far exceeding market expectations of a 0.1-0.2 percentage point adjustment. ⑵ This downward revision could leave a £20 billion hole in public finances, with the Chancellor facing a £30 billion shortfall in his November 26 Budget. ⑶ According to think tank estimates, every 0.1 percentage point reduction in productivity growth will increase public borrowing by £7 billion by the 2029/30 fiscal year, while JPMorgan Chase estimates the actual impact could be closer to £27 billion. ⑷ Fiscal pressure stems from persistently weak productivity data since 2008 and the impact of Brexit, requiring the authorities to strike a balance between tax increases and spending cuts to maintain fiscal targets.

17:56:43

[LBMA Forecasts Gold Aiming for $5,000] ⑴ The London Bullion Market Association's annual meeting consensus forecast indicates that gold prices will reach $4,980/oz over the next 12 months, with approximately 27% upside potential from the current price. ⑵ Silver is expected to rise from the current $46/oz to $59, while platinum is targeted at $1,816 and palladium is expected to reach $1,709, with all four precious metals bullish. ⑶ Political tensions and trade policy uncertainty pushed gold prices to a record high of $4,381 on October 20, fueling continued market fear of error.

17:56:19

[Malaysia's Dufu Technology Turns Profitable in the Third Quarter, Drive Demand Strongly Grows] ⑴ Dufu Technology achieved a net profit of RM10.5 million (approximately US$2.5 million) in the third quarter, a significant improvement from a net loss of RM3.2 million in the same period last year. Revenue increased 8.3% year-on-year to RM71.37 million. ⑵ Demand for enterprise-class hard drives continued to strengthen, particularly for large-capacity products in the 20-30TB range, driven primarily by the rapid expansion of artificial intelligence applications. ⑶ The company warned that international trade frictions could impact business confidence and consumer sentiment, potentially leading to short-term headwinds such as weak global demand and supply chain disruptions.

17:55:48

Spot gold just broke through the $3,900.00/ounce mark and was last trading at $3,898.99/ounce, down 2.06% on the day. The main COMEX gold futures contract was last trading at $3,913.60/ounce, down 2.64% on the day.

17:51:04

Dollar falls against yen during Trump's visit to Japan Details>

17:50:20

Japan's chief trade negotiator, Ryomasa Akazawa, stated that automobile projects may be included in the $550 billion fund. Automobiles are also important to economic security.

17:49:14

Japan's chief trade negotiator, Ryomasa Akazawa, declined to comment on discussions between the US and Japan on Russian energy purchases.

17:48:41

Japan's chief trade negotiator, Ryomasa Akazawa: Japan's auto industry's investment in the United States will remain at a high level

17:45:37

[ECHR Ruling: Norway's Arctic Oil Drilling Complies with Human Rights Convention] ⑴ The European Court of Human Rights unanimously ruled in favor of the Norwegian government on Tuesday, dismissing a climate lawsuit filed by young activists alleging that Arctic oil exploration jeopardized their future human rights. ⑵ The plaintiffs alleged that Norway's 2016 decision to grant 10 exploration licenses in the Barents Sea failed to adequately assess environmental impacts, but the court determined that the process did not infringe on the right to private and family life. ⑶ As Western Europe's largest oil and gas producer, Norway produces 4 million barrels of oil equivalent per day and has stated its commitment to continue oil and gas production for decades while supporting global emissions reductions. ⑷ The plaintiffs in this case, including six young people in their 20s and organizations such as Greenpeace, had previously lost their cases in three Norwegian courts, and the ECJ ultimately upheld the original ruling.

17:44:36

Spot gold just broke through the $3,910.00/ounce mark and was last trading at $3,910.02/ounce, down 1.79% on the day. The main COMEX gold futures contract was last trading at $3,924.60/ounce, down 2.37% on the day.

17:38:42

[Financial Giants Discuss in Riyadh: Private Credit Risk Surprisingly Lower Than Traditional Banks] ⑴ Standard Chartered CEO Winters noted that regulators should focus more on systemic banks with leverage ratios of 8 to 10 times, rather than the private credit sector. ⑵ At the Riyadh Future Investment Initiative conference, he emphasized that non-bank financial institutions have much lower leverage levels than traditional banks, and the systemic risks posed by private credit are more controllable. ⑶ At the same time, Citigroup CEO Fraser stated that artificial intelligence is reshaping the global economy and financial services landscape, and the private credit sector needs to clarify its competitive model choices. ⑷ DBS Group CEO Susan Tan added that banks must compete with fintech companies on digital experience while maintaining their trust advantage.

17:36:58

Saarbank Bond Subscription Exceeds €750 Million] ⑴ Saarland Bank's 4.5-year senior preferred bonds were oversubscribed, with a book size exceeding €750 million (including €145 million in purchases by the co-lead managers). ⑵ The bonds, with a fixed issue size of €300 million and no additional issuances, were priced today and settled on November 4th. ⑶ The bonds will mature on May 3, 2030, are issued under German law and listed on the Frankfurt Regulated Market, and are open to qualified counterparties and professional investors. ⑷ Herbabank acted as bookrunner for the issuance, with co-lead managers including Elster Bank, Herbabank, Baden-Württemberg Bank, and Norddeutsche Landesbank.

17:34:19

Italian Economic Confidence Rises Against Trends, Two Indicators Exceed Expectations: (1) Italy's business confidence index rose to 94.3 in October from 93.7 in September, and the manufacturing sub-index rose to 88.3 from 87.4, both exceeding analysts' expectations. (2) Consumer confidence climbed for the second consecutive month to 97.6, a significant increase from 96.8 in September, primarily driven by improved economic outlook and household savings. (3) Despite facing pressure from a 0.1% quarterly economic contraction and downward revisions to government growth forecasts, international rating agencies have successively upgraded Italy's credit rating in the past two months. (4) Confidence in the retail and construction sectors grew simultaneously, while the service sector saw a slight decline, demonstrating the resilience of the Eurozone's third-largest economy.

17:33:17

[The Federal Reserve's $6.6 trillion balance sheet faces a critical turning point] ⑴ The Federal Reserve will decide at this week's meeting whether to immediately stop the three-year balance sheet reduction. The current size is $6.6 trillion, which has shrunk significantly from the peak of nearly $9 trillion in 2022. ⑵ Pressure in the overnight funding market has intensified beyond expectations, pushing the benchmark interest rate close to the upper limit of the target range of 4%-4.25%, indicating that the liquidity of the banking system is declining. ⑶ The money market fund deposit buffer facility is almost exhausted, shrinking significantly from the peak of $2.2 trillion in 2023, resulting in a monthly balance sheet reduction of $20 billion that directly consumes bank reserves. ⑷ Decision-makers need to seek a balance between political costs and market stability. The lessons of the interest rate surge caused by excessive withdrawal of liquidity in 2019 have made officials particularly cautious about the timing of exit. ⑸ Although there is an option to continue the balance sheet reduction until the end of the year, institutional analysts warn that continued contraction will marginally increase the risk of overnight loan interest rate fluctuations and the actual benefits will be limited.

17:32:09

Japan's chief trade negotiator, Ryomasa Akazawa, hopes to cooperate with the United States on critical minerals

17:31:23

[World's First Zero-Fossil Steel Waterlock Launched, Reducing 200 Tons of CO2 Emissions] ⑴ Vattenfall and SSAB have signed an agreement to purchase 120 tons of zero-fossil steel for the manufacture of the world's first zero-fossil steel waterlock. ⑵ This 21-meter-wide and 11-meter-high waterlock will be the largest steel structure with near-zero fossil CO2 emissions in iron ore production and is scheduled to be installed at the Stornofors Hydropower Station in 2028. ⑶ The fossil-free steelmaking process using HYBRIT technology almost completely eliminates CO2 emissions from steel production, and this project is expected to achieve approximately 200 tons of carbon emissions reductions. ⑷ This order marks a significant step forward in the deepening cooperation between the two parties since 2023, aiming to promote the development of a fossil-free value chain and extend the hydropower station's 100-year service life.

17:30:14

[Saudi Arabia's Strategic Shift: Sovereign Funds Shrink to Make Way for Private Capital] ⑴ On Tuesday, Saudi Arabia's Minister of Investment publicly called on the sovereign wealth fund (PIF) to reduce spending on domestic projects to create more space for private sector investment. ⑵ This statement stands in stark contrast to the PIF Chairman's announcement at the same forum last year that the focus on domestic investment would be on Saudi Arabia's economic strategy, indicating that Saudi Arabia is adjusting its economic strategy. ⑶ Although foreign direct investment is expected to grow 24% to $31.7 billion in 2024, with 90% of the funds flowing into non-oil sectors, low oil prices and fiscal deficits have forced the delay or reduction of several flagship projects. ⑷ The CEO of BlackRock Group confirmed that the Jaful gas pipeline project was five times oversubscribed, reflecting the high level of international capital interest in Saudi Arabia's transformation plan.

17:30:03

Amazon says it will lay off about 14,000 employees

17:28:02

Turkey's central bank's net foreign exchange reserves fell by an estimated $12 billion last week, with more than $5 billion of the drop attributed to falling gold prices, bankers said.

17:27:53

[Turkish Central Bank Reserves Evaporated by $13 Billion in a Single Week, Political Uncertainty Triggers a Huge Shock] ⑴ The Turkish Central Bank's gross reserves are estimated to have fallen by $13 billion to $185.5 billion last week, with net reserves estimated to have fallen by $12 billion to $67.5 billion. ⑵ Over $5 billion of the reserve decline was due to falling gold prices, while another $5 billion was used to mitigate market volatility caused by political uncertainty. ⑶ The sharp decline in reserves coincided with the trial of a legal case seeking to remove the leader of the main opposition party, although the case was dismissed by the court last Friday. ⑷ Official reserve data will be released later this week, and the lira and local currency assets have already strengthened significantly since the dismissal of the case.

17:27:11

Indian Oil Corp executives say they will not completely stop buying Russian crude

17:25:59

South Korea Makes a Massive Purchase of 200,000 Tons of Corn, Ensuring Global Supply Through Multiple Channels. (1) Nonghyup Feed, a major South Korean feed manufacturer, purchased approximately 204,000 tons of animal feed corn through an international tender on Tuesday, approaching its maximum purchase target of 207,000 tons. (2) The purchase is divided into three batches, expected to arrive in South Korea in February 2026, with flexible sourcing options from the United States, South America, or South Africa. (3) The transaction prices were $243.98 and $245.16 per ton, respectively, at cost and freight, with an additional port unloading fee of $1.50 per ton. All corn was sold by trader CHS.

17:25:08

Ukraine's Winter Planting Progress Reaches 82%, with Rapeseed Leading the Way: ⑴ The Ukrainian Ministry of Economy announced on Tuesday that winter crop plantings for 2026 have reached 5.3 million hectares, representing 82% of the projected total area. ⑵ The planned planting area for this year has expanded to 5.43 million hectares, a steady increase from the 5.24 million hectares planned for 2025. ⑶ Among the sub-species, rapeseed has the highest completion rate at 93.8%, followed by rye at 91.3%, wheat at 80.8%, and barley at 66.3%, with progress lagging behind.

17:22:35

Oil Price Tug of War: OPEC Production Increase Plan Suppresses Trade Optimism] ⑴ International oil prices fell for the third consecutive trading day, with Brent crude down 1.26% to $64.79 per barrel and U.S. crude down 1.22% to $60.56 per barrel. ⑵ OPEC and its allies are leaning toward a modest production increase in December, a plan that continues to pressure the oil market. ⑶ Despite positive expectations for trade talks scheduled for Thursday, institutional analysis suggests that oversupply may put medium- to long-term pressure on oil prices. ⑷ Industry data showing the world's largest oil-producing alliance's production increase intentions are colliding with short-term supply concerns stemming from sanctions.

17:19:02

Indian Oil Corporation Limited (IOC) executives: The first phase of the Barauni refinery expansion project is expected to be operational by August 2026.

17:18:39

[The Yen fights back, and the risk of USD/JPY gap filling increases] ⑴ USD/JPY fell from 152.81 to 151.77 on Tuesday. The latest decline is at risk of worsening as the technical gap below has not been filled. ⑵ EUR/JPY continued its correction trend and has continued to fall from the record high of 178.13 set on Monday. ⑶ The general weakness of the US dollar is due to traders adjusting their positions in advance for major international talks and meetings of multiple central banks. The simultaneous profit-taking pushed the Nikkei index down from its historical high. ⑷ Japanese officials emphasized that foreign exchange trends should reflect fundamentals, and pointed out that a weak yen has a positive effect on economic growth.

17:17:35

Indian Oil Corporation executives: Gujarat refinery expansion expected to be operational by June 2026

17:17:02

Has Germany's consumption engine stalled? Consumer confidence unexpectedly deteriorated. (1) Germany's GfK consumer confidence index unexpectedly deteriorated, defying market expectations for an upward trend. This was primarily due to weakening income expectations. (2) Data showed heightened consumer concerns about job security. Continued weak consumer sentiment may delay the recovery of private consumption. (3) Despite signs of improvement in the propensity to purchase, the propensity to save remained high, reflecting a cautious outlook for the economic outlook.

17:16:06

Bond giant PIMCO sells most of Thames Water's debt

17:15:42

[Global Bond Market Linkage: UK Gilt Yields Fall Ahead of Fed Decision] ⑴ Ahead of the Fed's interest rate decision on Wednesday, UK gilt yields fell in tandem with US and Eurozone bonds, with the market generally anticipating a rate cut. ⑵ The 10-year UK gilt yield fell 3 basis points to 4.370%, while the 10-year US Treasury yield fell about 3 basis points to 3.970%. ⑶ The recent narrowing of the 10-year UK and US gilt yield spreads reflects rising market expectations for a Bank of England rate cut.

17:14:18

[The Russian Central Bank releases a strong signal: there is huge room for interest rate cuts next year] ⑴ Elvira Nabiullina, Governor of the Russian Central Bank, said on Tuesday that as inflation gradually returns to the target level of 4%, there is significant room for key interest rates to be lowered next year. ⑵ The central bank has started a cycle of interest rate cuts since raising interest rates to 21% last year. It just lowered it by 50 basis points to 16.5% last Friday, and made it clear that the interest rate cut cycle will cover the entire 2026. ⑶ The latest forecast shows that the price growth rate will fall back to the target range in the second half of 2026, but inflation expectations for the same period will still stubbornly remain at the high level of 2024. ⑷ The central bank raised the expected range of average interest rates for 2026 to 13%-15%, and at the same time raised the inflation forecast for 2026 from 4% to 4%-5%, reflecting that policy adjustments will maintain a gradual pace. ⑸ Although companies generally call for interest rates to be lowered to 12%-14% to promote investment, the central bank emphasizes that premature easing of policies will undermine economic stability

17:14:06

[South African government bond auction was a hot seller, with long-term varieties oversubscribed by six times] ⑴ The South African government successfully auctioned three long-term government bonds with a total size of 3.75 billion rand, of which the winning yield of the bonds due in 2033 was 8.425%. ⑵ The winning yield of the bonds due in 2038 was 9.420%, and the winning yield of the bonds due in 2044 was the highest, reaching 9.930%. ⑶ The market demand for this auction was strong, and the bid coverage multiples exceeded the baseline in all aspects, with the 2033 variety at 5.0 times and the 2038 variety at 4.9 times. ⑷ The longest-term 2044 bond was hotly sought after by the market, with a bid coverage multiple of 6.4 times, demonstrating investors' strong demand for high-yield, long-term assets.

17:13:09

Gold's sharp drop holds hidden secrets; three pillars underpin its 50% year-to-date gain. ⑴ Spot gold fell 2.30% intraday, falling back below $3,890/oz. The easing of trade tensions triggered profit-taking. ⑵ Analysts noted that gold will need to wait for short-term capital to clear before pressure eases, but its year-to-date gain remains over 50%. ⑶ Prices are supported by three factors: rising market expectations for a Federal Reserve rate cut this week, continued gold asset purchases by global central banks, and safe-haven demand driven by fiscal deficit concerns.

17:12:07

[India's local government bond yield spread hits a five-month low] ⑴ India's local governments only completed two-thirds of the planned issuance through four auctions in October. The actual issuance volume was lower than expected, which directly lowered the bond supply. ⑵ The yield on 10-year bonds issued by Tamil Nadu was 7.16%, a significant drop from 7.26% of similar bonds on September 30. ⑶ During the same period, India's 10-year benchmark treasury bond yield fell only 3 basis points to 6.54%, causing the spread between local government bonds and treasury bonds to narrow to 62 basis points. ⑷ The spread not only continued to shrink from 70 basis points at the end of September, but also fell sharply from 100 basis points at the beginning of September, hitting the lowest level in five months. ⑸ Traders at state-owned banks pointed out that the improvement in local government fiscal conditions has led to a continued shortage of bonds. This structural change is supporting investor sentiment.

17:11:20

[Battle to defend the rupee: The Reserve Bank of India has hidden secrets] ⑴ The foreign exchange reserves of the Reserve Bank of India have increased significantly by about US$4.5 billion recently, but in order to curb the appreciation of the US dollar against the rupee, the bank had sold US dollars, resulting in a decline in reserves. ⑵ The US dollar has rebounded from 87.63 to 88.31 against the rupee. The data shows that the intervention is aimed at smoothing the upward path rather than blocking the upward trend. ⑶ The historical high of 88.90 is within reach, and 89.00 has become an important psychological level. The current market short rupee positions have been significantly reduced compared to the early stage of intervention. ⑷ The probability of breaking through the 89.00 level is increasing, which may trigger a new round of foreign exchange intervention. At the same time, market expectations for yen intervention are also heating up.

17:09:41

[German central bank credit survey shows that banks generally tightened credit standards] ⑴ German banks tightened credit standards for corporate and household loans in the third quarter of 2025. ⑵ Increased credit risk and reduced risk tolerance are the main reasons. ⑶ Banks have stricter terms for corporate loans and housing loans, but slightly relaxed consumer credit terms. ⑷ Demand for all loan categories continued to grow, but the growth rate narrowed compared with the previous quarter. ⑸ Non-performing loan ratios and other credit quality indicators have a restrictive impact on credit standards. ⑹ The ECB's interest rate decision has a negative impact on banks' net interest income and is expected to continue to drag down profitability this winter. ⑺ The net tightening ratio of corporate loans is +10%, housing loans is +4%, and consumer credit is +7%. ⑻ Banks plan to maintain corporate credit standards unchanged in the fourth quarter, but expect to further tighten household credit standards

17:07:51

Spot gold just broke through the $3,890.00/ounce mark and was last trading at $3,889.15/ounce, down 2.31% on the day. The main COMEX gold futures contract was last trading at $3,904.90/ounce, down 2.86% on the day.

17:07:37

[Ukraine winter crop planting 82% completed] ⑴ Ukraine's Ministry of Economy said on Tuesday that as of October 28, farmers had completed 5.3 million hectares of winter crop planting. ⑵ This is equivalent to about 82% of the expected planting area for the 2026 harvest. ⑶ Farmers plan to increase the 2026 winter grain planting area from 5.24 million hectares in 2025 to at least 5.43 million hectares.

17:06:38

[British pound falls to three-month low against the euro] ⑴The pound fell to a three-month low against the euro after data from the British Retail Consortium showed that UK food inflation slowed to 3.7% in October from 4.2% in September. ⑵Analysts said that stubborn food inflation has been one of the factors that worried the Bank of England and delayed interest rate cuts. ⑶The data may increase bets on a rate cut at the Bank of England's December meeting and put pressure on the pound. ⑷The UK inflation data released last week was also lower than expected, showing that food price increases in September eased. ⑸The euro rose 0.3% to a high of 0.8764 pounds, and the pound fell 0.2% to an intraday low of $1.3298.

17:06:21

[The euro's strength is driven by a weak dollar and progress on the French budget] ⑴ The euro's current rise is mainly driven by a weaker dollar, and the compromise on the French budget also provides some support. ⑵ The French National Assembly passed an amendment on Monday to increase taxes on large companies to control the budget deficit. ⑶ Analysts believe that this is a drop in the bucket for the French budget and is not conducive to growth, but investors are more concerned about the compromise gesture and the 2026 budget path. ⑷ The euro rose 0.1% to $1.1658, having earlier hit a one-week high of $1.1667.

17:05:53

【Italy's confidence index rose across the board in October】 ⑴ Italy's consumer confidence index rose to 97.6 in October, higher than the expected 97.0 and 96.8 in September. ⑵ The manufacturing business confidence index rose to 88.3 in October, higher than the expected 87.5 and 87.4 in September. ⑶ The overall business confidence index rose to 94.3 in October, higher than 93.7 in September.

17:04:41

Japanese Prime Minister Sanae Takaichi: The United States did not mention the scale of defense spending

17:04:18

[15th Five-Year Plan Proposal Released: Main Goals for Economic and Social Development During the "15th Five-Year Plan" Period] -- Significant progress has been made in high-quality development. Economic growth has remained within a reasonable range, total factor productivity has steadily increased, the per capita consumption rate has significantly increased, domestic demand has continued to strengthen as the primary driver of economic growth, and economic growth potential has been fully unleashed. The construction of a unified national market has advanced in depth, and the advantages of a super-large-scale market continue to emerge. Significant progress has been made in new-type industrialization, informatization, urbanization, and agricultural modernization. Major breakthroughs have been made in developing new-quality productive forces, building a new development pattern, and constructing a modern economic system. -- Significant improvement has been made in scientific and technological self-reliance and self-improvement. The overall effectiveness of the national innovation system has been significantly enhanced, a unified development pattern for education, science, and talent has been basically formed, basic research and original innovation capabilities have been significantly strengthened, key core technologies in key areas have been rapidly broken through, the number of areas where parallel development and leading development have increased significantly, scientific and technological innovation and industrial innovation have been deeply integrated, and the role of innovation-driven development has been significantly enhanced. -- New breakthroughs have been made in further comprehensively deepening reform. The modernization of the national governance system and governance capacity has been deepened, the socialist market economic system has been further improved, the institutional mechanisms for high-level opening up have been further improved, the institutionalization, standardization, and proceduralization of people's democracy throughout the entire process have been further enhanced, and the construction of a socialist rule of law country has reached a higher level. -- Significant improvement has been made in social civilization. Cultural confidence has become more resolute, mainstream ideology and public opinion have been continuously consolidated and strengthened, core socialist values have been widely practiced, the cultural innovation and creativity of the entire nation has been continuously stimulated, the people's spiritual and cultural life has become richer, the cohesion of the Chinese nation and the influence of Chinese culture have been significantly enhanced, and the country's soft power has continued to improve. - The quality of life of the people has continued to improve. New progress has been made in high-quality and full employment, residents' income growth has kept pace with economic growth, and labor remuneration has increased in tandem with labor productivity. The distribution structure has been optimized, the middle-income group has continued to expand, the social security system has become more optimized and sustainable, and the level of equal access to basic public services has been significantly improved. - The national security barrier has been further consolidated. The national security system and capabilities have been further strengthened, risks in key areas have been effectively prevented and mitigated, and the level of social governance and public security governance has been significantly improved. The goals of the centenary of the founding of the People's Liberation Army have been achieved as scheduled, and the construction of a safer China of a higher level has been steadily advanced. Building on this foundation, we will strive for another five years to achieve a significant leap forward in my country's economic strength, scientific and technological strength, national defense strength, comprehensive national strength, and international influence by 2035, with per capita GDP reaching the level of moderately developed countries, people's lives have become happier and better, and socialist modernization has been basically achieved. (Xinhua News Agency)

17:03:29

Japanese Prime Minister Sanae Takaichi: Discussed the Middle East and Ukraine with US President Trump

17:03:12

[Germany's DAX index fell 0.5%, focusing on corporate earnings reports and central bank decisions] ⑴ The German DAX index fell 0.5% to around 24,200 points on Tuesday, retreating from the previous day's one-week high. ⑵ Market participants evaluated a series of corporate earnings reports and awaited progress in trade negotiations and policy announcements from the Federal Reserve and the European Central Bank. ⑶ Symrise led the decline, falling more than 3%. The company lowered its full-year organic growth forecast for the second time this year after announcing its third-quarter results.

17:01:24

LME Daily inventory changes in the UK on October 28th - Zinc

Previous : -550 Forecast : -

Published Value -1800

17:01:11

LME Daily inventory changes in the UK on October 28th - Lead

Previous : -3000 Forecast : -

Published Value -2700

17:01:01

LME Daily inventory changes in the UK on October 28th - Nickel

Previous : 384 Forecast : -

Published Value 198

17:01:01

Italy's Istat Manufacturing Confidence Index for October

Previous : 87.30 Forecast : 87.50

Published Value 88.30

17:00:55

Italy's Istat Consumer confidence index for October

Previous : 96.80 Forecast : 97

Published Value 97.60

17:00:54

LME Daily Inventory changes in the UK on October 28th - Tin

Previous : -25 Forecast : -

Published Value -25

17:00:47

LME Daily inventory changes in the UK on October 28th - Copper

Previous : -375 Forecast : -

Published Value -1400

17:00:38

LME Daily inventory changes in the UK on October 28th - Primary aluminum

Previous : -3850 Forecast : -

Published Value -3625

17:00:28

LME Daily inventory changes in the UK on October 28th - Cobalt

Previous : 0 Forecast : -

Published Value 0

17:00:26

LME Daily inventory changes in the UK on October 28th - Main NASAAC aluminum alloys

Previous : -40 Forecast : -

Published Value 0

17:00:18

LME Daily Inventory changes in the UK on October 28th - Aluminum Alloy

Previous : 0 Forecast : -

Published Value 0

16:58:10

Spot gold just broke through the $3,900.00/ounce mark and was last trading at $3,899.95/ounce, down 2.04% on the day. The main COMEX gold futures contract was last trading at $3,914.60/ounce, down 2.61% on the day.

16:57:33

The Russian Ministry of Defense reported on the 28th that between 11:00 PM on the 27th and 7:00 AM on the 28th Moscow time, Russian air defense systems intercepted and destroyed 17 Ukrainian drones in various locations, including 13 in Kaluga Oblast, 3 in Bryansk Oblast, and 1 in Moscow Oblast. The Ukrainian Air Force also reported on the 28th that between 8:00 PM on the 27th and the early morning of the 28th, Russian forces launched 38 drones at Ukraine. As of 9:00 AM on the 28th, Ukrainian forces had shot down or suppressed 26 drones through electronic warfare. (CCTV News)

16:57:23

Indian Oil Corporation executives: Expect good profits this fiscal year

16:57:05

[Recommendations for the 15th Five-Year Plan Released: Expanding the Space for Two-Way Investment Cooperation] Create new advantages in attracting foreign investment, effectively implement "entry and operation" policies, reduce the negative list for foreign investment access, and promote foreign reinvestment within China. Improve the foreign investment service and support system, fully implement national treatment, promote efficient, convenient, and secure cross-border data flows, and create a transparent, stable, and predictable institutional environment. Effectively implement outbound investment management, improve the comprehensive overseas service system, promote trade and investment integration, and guide the rational and orderly cross-border layout of industrial chains and supply chains. (Xinhua News Agency)

16:56:52

[Recommendations for the 15th Five-Year Plan Released: High-Quality Joint Construction of the Belt and Road Initiative] Strengthen strategic alignment with participating countries and intensify the coordinated management of cooperation plans. Deepen the "hard connectivity" of infrastructure, the "soft connectivity" of rules and standards, and the "heart-to-heart connectivity" of the people of participating countries, improve the layout of a three-dimensional interconnected network, and coordinate the construction of major landmark projects and "small but beautiful" livelihood projects. Enhance the development level of China-Europe (Asia) freight trains. Accelerate the construction of the New Western Land-Sea Corridor. Deepen practical cooperation in trade, investment, industry, and culture, and expand new areas of cooperation in green development, artificial intelligence, the digital economy, health care, tourism, agriculture, and other fields. Improve a diversified, sustainable, and risk-controlled investment and financing system. Strengthen the protection of overseas interests. (Xinhua News Agency)

16:56:20

[USD/JPY faces further downward pressure] ⑴ USD/JPY fell from 152.81 to 151.77 on Tuesday. ⑵ EUR/JPY continued to decline from its record high of 178.13 set on Monday. ⑶ Japan's new Economic Minister, Kiuchi, stated that exchange rate fluctuations reflect fundamentals. ⑷ The latest decline may worsen, and the lower gap still exists. ⑸ The Nikkei index fell from its record high due to profit-taking and a stronger yen.

16:55:38

[Analyst: Technical analysis of New York coffee futures shows that the support level is facing a test] ⑴ New York December coffee futures may test the support level of $3.8340 per pound, and after breaking through, it may fall to $3.7050. ⑵ The market showed strong bearish momentum, falling sharply from $4.8310. ⑶ Although the 61.8% retracement level of $3.8340 is expected to form strong support, it is still uncertain whether the decline will stop at this level. ⑷ After the price stabilizes, it may rebound to $3.9385. ⑸ The key resistance level is $4.0050, and after breaking through, it may rise to the range of $4.0860 to $4.1510.

16:54:23

[Recommendations for the 15th Five-Year Plan released: Improving the effectiveness of policies to strengthen, benefit and enrich farmers] Improve the diversified investment structure with fiscal priority, financial focus and active social participation to ensure that investment in rural revitalization continues to increase. Protect and mobilize farmers' enthusiasm for farming and grain production, and strengthen policy support and coordination such as prices, subsidies, and insurance. Increase interest compensation in major grain-producing areas, and implement inter-provincial horizontal interest compensation in production and marketing areas. Strengthen the management of grain purchase, sales and reserves. Promote the diversification of agricultural product imports and promote the coordination of trade and production. Promote the two-way flow of urban and rural factors, and encourage all kinds of talents to go to the countryside to serve and start businesses. Save and intensively utilize rural collective business construction land, make good use of idle land and houses in accordance with the law, and classify and guarantee land for rural development. Support the development of a new type of rural collective economy. (Xinhua News Agency)

16:53:19

[Recommendations for the 15th Five-Year Plan released: Enhance regional development coordination] Solidly promote the formation of a new pattern of large-scale development in the western region, achieve new breakthroughs in the comprehensive revitalization of the northeast, accelerate the rise of the central region, and accelerate the modernization of the eastern region, promoting coordinated development of the east, middle and west, and the north and south. Consolidate and enhance the role of the Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao Greater Bay Area as a source of power for high-quality development. Continue to promote the development of the Yangtze River Economic Belt and the ecological protection and high-quality development of the Yellow River Basin. Promote the construction of Xiongan New Area into a modern city with high standards and high quality, and enhance the development level of the Chengdu-Chongqing Twin Cities Economic Circle. Encourage all regions to give play to their comparative advantages and strengths, support economically developed provinces to take the lead and set an example in promoting Chinese-style modernization. Increase differentiated policy support to promote the revitalization and development of old revolutionary base areas, ethnic minority areas, and border areas. (Xinhua News Agency)

16:53:04

[Recommendations for the 15th Five-Year Plan Released: Promoting Interconnected Regional Development] Promote the construction of major cross-regional and cross-basin corridors and strengthen regional infrastructure connectivity. Strengthen the coordinated and interconnected development of key urban agglomerations and promote efficient collaboration in regional innovation and industrial chains. Promote the accelerated development of urban agglomerations in the middle reaches of the Yangtze River, cultivate and develop several regional central cities, and better leverage the supporting and driving role of cross-regional connected regions. Deepen cross-administrative cooperation, improve mechanisms for regional planning coordination, industrial collaboration, and benefit sharing, and expand models such as river basin economies. (Xinhua News Agency)

16:52:19

[15th Five-Year Plan Recommendations Released: Strengthening Marine Development, Utilization, and Protection] Adhere to coordinated land and sea development, enhance maritime capabilities, promote high-quality marine economic development, and accelerate the development of a strong maritime nation. Strengthen marine scientific and technological innovation, consolidate and enhance the advantages of the marine equipment manufacturing industry, strengthen emerging marine industries, and develop modern shipping services. Implement marine surveys and observation and monitoring, promote the development and utilization of marine energy resources and sea areas and islands, and strengthen the protection and restoration of the ecological environment in key sea areas. Strengthen the support and guarantee system for deep-sea polar expeditions. Firmly safeguard maritime rights and interests and security, and enhance maritime law enforcement and maritime judicial capabilities. (Xinhua News Agency)

16:51:25

[Recommendations for the 15th Five-Year Plan Released: Deeply Promote People-Oriented New Urbanization] Scientifically and orderly promote the urbanization of migrant workers from rural areas, and implement a system of providing basic public services based on registered permanent residence. Promote the modernization of governance in megacities and super-megacities, accelerate the integration of urban agglomerations and the integration of metropolitan areas, optimize urban scale and structure, and promote the coordinated development and intensive and compact layout of large, medium, and small cities and towns. Promote urbanization construction with county towns as the main carrier in a classified manner, enhance industrial support capabilities and public service levels. Adhere to the connotation-oriented development of cities, vigorously implement urban renewal, and build innovative, livable, beautiful, resilient, civilized, and intelligent modern cities for the people. Solidly advance the construction of border towns. (Xinhua News Agency)

16:50:35

Indonesia's Palm Oil Production Expected to Grow 10% in 2025: (1) The Indonesian Palm Oil Association (IPA) stated that palm oil production could increase by 10% this year to approximately 56 million metric tons. (2) This forecast is higher than previously estimated, with favorable weather and strong prices supporting production. (3) The association raised its full-year forecast from 53.63 million tons. The 57 million tons would represent an 8% increase from 2024. (4) Indonesia's palm oil exports could increase to approximately 30-31 million tons, with domestic biodiesel demand growth offset by increased production. (5) Indonesia will increase its mandatory biodiesel blending ratio from 35% to 40% this year. (6) The association predicts that production could increase by another 5% in 2026. (7) Palm oil inventories fell slightly to 2.54 million tons in August, a 1% decrease from the previous month. (8) Exports of palm oil products reached 3.47 million tons in August, a 1.8% decrease from the previous month. Crude palm oil production was 5.06 million tons. The association plans to use insect pollination technology to increase production next year, with results expected to be seen by the end of 2026 or early 2027.

16:50:19

[The euro's strength is driven by a weak dollar and progress on the French budget] ⑴ The euro's current rise is mainly driven by a weaker dollar, and the compromise on the French budget also provides some support. ⑵ The French National Assembly passed an amendment on Monday to increase taxes on large companies to control the budget deficit. ⑶ Analysts believe that this is a drop in the bucket for the French budget and is not conducive to growth, but investors are more concerned about the compromise gesture and the 2026 budget path. ⑷ The euro rose 0.1% to $1.1658, having earlier hit a one-week high of $1.1667.

16:48:30

[15th Five-Year Plan Recommendations Released: Improving the Income Distribution System] Adhere to distribution according to work as the primary method, with multiple distribution methods coexisting. Increase the proportion of residents' income in the national income distribution and the proportion of labor remuneration in the primary distribution. Improve the primary distribution mechanism in which the market evaluates the contribution of various factors and determines remuneration based on contribution, promoting greater rewards for those who work harder, those with higher skills, and those who innovate. Improve the mechanisms for determining, reasonably increasing, and ensuring payment of workers' wages. Promote a system of collective wage negotiation, improve the minimum wage adjustment mechanism, and strengthen macro-guidance on enterprise wage distribution. Increase property income of urban and rural residents through multiple channels. Strengthen redistributive regulation through taxation, social security, and transfer payments. Promote and regulate the development of public welfare and charity. Standardize the income distribution order and wealth accumulation mechanism, support the legitimate pursuit of wealth through hard work and innovation, and encourage the wealthy to help the less fortunate and promote shared prosperity. Implement plans to increase income for urban and rural residents, effectively increase the income of low-income groups, steadily expand the size of the middle-income group, rationally regulate excessive income, eliminate illegal income, and promote the formation of an olive-shaped distribution pattern. (Xinhua News Agency)

16:47:31

[15th Five-Year Plan Recommendations Released: Steadily Advancing Equalization of Basic Public Services] Establish evaluation standards for equalization of basic public services, improve the scope and content of basic public services, formulate goals, paths, and measures for achieving equalization of basic public services, promote the downward transfer of more public services to grassroots communities, expand coverage to rural areas, and prioritize public services in remote areas and for those in need, and improve public resource allocation mechanisms that match the resident population. Strengthen the overall coordination of basic public service provision in counties, and improve long-term mechanisms for ensuring investment. Comprehensively deepen the reform of public institutions. (Xinhua News Agency)

16:47:16

[Recommendations for the 15th Five-Year Plan Released: Accelerate the Construction of a Healthy China] Implement a health-first development strategy, improve the health promotion policy and system, enhance the effectiveness of the Patriotic Health Campaign, and improve life expectancy and people's health. Strengthen public health capabilities, strengthen the construction of disease control systems, and prevent and control major infectious diseases. Improve the coordinated development and governance mechanisms of medical care, medical insurance, and pharmaceuticals, and promote tiered diagnosis and treatment. Deepen the reform of public hospital establishment, service prices, salary systems, and comprehensive supervision with a public welfare orientation, and strengthen the operational guarantees of county-level and grassroots medical institutions. Optimize the functional positioning and layout of medical institutions, implement the medical and health foundation strengthening project, and promote the digitalization of health for all. Strengthen the comprehensive prevention and control of chronic diseases, and develop a full chain of prevention, treatment, health, and management services. Comprehensively improve emergency first aid, blood supply, and emergency response capabilities. Strengthen the capacity and work style of the medical and health team. Promote the inheritance and innovation of traditional Chinese medicine, and promote the integration of traditional Chinese and Western medicine. Support the development of innovative drugs and medical devices. Strengthen mental health and mental health services. (Xinhua News Agency)

16:46:52

[15th Five-Year Plan Recommendations Released: Improving the Social Security System] Improve and implement the national unified basic pension insurance system, accelerate the development of a multi-tiered, multi-pillar pension insurance system, improve the benefit determination and adjustment mechanism, and gradually increase the basic pension for urban and rural residents. Improve the multi-tiered medical security system, promote provincial-level unified basic medical insurance, and optimize policies on drug procurement, medical insurance payment, and the use of surplus funds. Expand the coverage of unemployment and work-related injury insurance, and establish and improve the occupational injury protection system. Improve the social security transfer and continuation policy, and increase the participation rate of flexible employment, migrant workers, and those in new employment forms. Improve the social insurance actuarial system, continue to transfer state-owned capital to enrich the social security fund, and improve the long-term fundraising, unified adjustment, value preservation and appreciation, and safety supervision mechanisms of the social security fund. Leverage the role of various commercial insurance types in providing supplementary protection. Optimize the nationwide unified social security public service platform and management services. Improve the social assistance system. Improve the service and protection system for groups such as empty-nest elderly, children in difficult circumstances, and people with disabilities. Establish and improve the basic funeral service system. Uphold the fundamental national policy of gender equality and protect the legitimate rights and interests of women and children. Strengthen services and support for veterans. (Xinhua News Agency)

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Real-Time Popular Commodities

Instrument	Current Price	Change
XAU	4010.10	7.16 (0.18%)
XAG	48.200	-0.455 (-0.94%)
CONC	60.99	0.01 (0.02%)
OILC	64.80	0.16 (0.24%)
USD	99.847	0.142 (0.14%)
EURUSD	1.1521	-0.0015 (-0.13%)
GBPUSD	1.3139	-0.0008 (-0.06%)
USDCNH	7.1260	0.0051 (0.07%)

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