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[Bank of America Securities: Indonesia accelerates fiscal measures to support economic growth] Bank of America Securities said that if Indonesia's recent fiscal measures can be effectively implemented, it may raise its forecast for Indonesia's economic growth. Currently, Bank of America Securities expects Indonesia's economic growth rate to be 5% in 2025 and 5.2% in 2026. Economists Kai Wei Ang and Rahul Bajoria said in a report that a special ministerial team is accelerating the implementation of flagship projects while launching fiscal measures worth 16 trillion rupiah in the fourth quarter to support low-income households, gig economy workers and the tourism industry. The Ministry of Finance has allocated 200 trillion rupiah in excess cash to five state-owned banks. Combined with the Indonesian central bank's interest rate cuts, this may reduce loan interest rates, but as businesses remain cautious, overall loan growth may take some time to improve. They added that plans to establish a separate tax agency are moving forward and fiscal legislation may be updated next year, which makes investors and credit rating agencies closely watch fiscal developments.

The Shanghai Composite Index closed at 3877.55 points in the morning, up 0.41%; the CSI 300 Index closed at 4550.58 points in the morning, up 0.60%; the Shenzhen Component Index closed at 13197.01 points in the morning, up 1.02%; the ChiNext Index closed at 3140.76 points in the morning, up 1.74%; the SME Board Index closed at 14311.80 points in the morning, up 0.61%.

The Nikkei 225 index opened at 44,950.86 points at noon, up 0.11%.

[The US Dollar Continues to Under Pressure on Rate Cut Expectations, with Markets Focusing on Powell's Speech] 1. The US dollar rebounded modestly by 0.1% in Asian trading on Wednesday, but remained weak, hovering at a four-year low against the euro and briefly falling to a one-month low against the yen. Traders widely expect the Federal Reserve to announce a rate cut later in the day, and market attention has shifted to Chairman Powell's post-meeting remarks to gauge the future path of monetary policy. Markets currently expect a cumulative rate cut of nearly 68 basis points by year-end. 2. With the Trump administration's continued pressure on the Federal Reserve, raising concerns about its independence, the tone of the policy statement and Powell's speech are crucial. An unexpected 50 basis point rate cut or a clearly dovish signal could further weaken the dollar. Conversely, a more hawkish stance could trigger a rebound. The US dollar index is currently trading around 96.71, close to its lowest level since July. 3. ING economists note that the real market influence may lie in the unexpectedly strong policy intensity or the direction of Powell's speech. They believe that "even if the interest rate is only cut by 25 basis points, if it is combined with dovish guidance, the dollar's weakening trend may continue." In addition, personnel changes and political pressure within the Federal Reserve also add uncertainty to this meeting. 4. The market is also paying attention to the Bank of Japan's interest rate decision on Friday, which is expected to keep the interest rate unchanged. With the October Liberal Democratic Party presidential election approaching, the possibility of policy changes is low. Analysts generally believe that the Bank of Japan's next interest rate hike is more likely to occur in early 2026.

[China Association of Automobile Manufacturers: Domestic sales of new energy vehicles reached 1.171 million units in August, an increase of 18.3% year-on-year] According to the analysis of the China Association of Automobile Manufacturers, in August, the production and sales of new energy vehicles increased both month-on-month and year-on-year, with growth rates of more than 25%, showing a rapid growth trend. In August, the production and sales of new energy vehicles reached 1.391 million units and 1.395 million units respectively, up 27.4% and 26.8% year-on-year respectively. From January to August, the production and sales of new energy vehicles reached 9.625 million units and 9.62 million units respectively, up 37.3% and 36.7% year-on-year respectively. In August, domestic sales of new energy vehicles reached 1.171 million units, up 13% month-on-month and up 18.3% year-on-year. From January to August, domestic sales of new energy vehicles reached 8.088 million units, up 30.1% year-on-year. In August, 224,000 new energy vehicles were exported, down 0.6% month-on-month and up 100% year-on-year. From January to August, 1.532 million new energy vehicles were exported, up 87.3% year-on-year

[Japanese automakers pledge to maintain wage growth momentum] Japanese automakers said they will work hard to maintain a virtuous cycle of wage growth. The recent trade agreement with the United States has enabled the industry to avoid the "catastrophic" impact of the Trump administration's tariff policy. Masanori Katayama, president of the Japan Automobile Manufacturers Association, said: "The Japanese auto industry, including automakers, will continue to enhance industrial competitiveness, safeguard employment, and make every effort to ensure that the virtuous cycle of wage growth continues." He made the above statement during a meeting with Japan's chief trade negotiator Ryomasa Akasawa on Wednesday. Ryomasa Akasawa presided over the trade agreement negotiations with the United States on July 22. According to the agreement, the U.S. tariff on Japanese cars was reduced from 27.5% to 15% on Tuesday, bringing a respite to the auto industry, which is still the mainstay of Japan's economy.