Flash News

TREE NEWS update: A Harvard University poll of Americans aged 18 to 29, released on October 22, found that about 69% of respondents are “anxious” about the country’s future, while 62% believe the United States is on the wrong track. The survey comes ahead of the US midterm elections. Betsy Fischer Martin, director of the Harvard Institute of Politics, called the poll “an important window” into the midterms and a platform for young Americans to share their concerns.

TREE NEWS update: Austria’s foreign ministry confirmed on the 23rd that the government is expelling four Russian diplomats stationed in Vienna, declaring them personae non gratae over activities incompatible with their diplomatic status. Three of the four are attached to the Russian embassy in Austria, while the fourth serves at Russia’s permanent mission to the Organization for Security and Co-operation in Europe. The decision was based on intelligence from Austrian security services; no details of the alleged espionage have been released.

TREE NEWS reports: The London Metal Exchange reported a decline in lead inventories of 1,800 tonnes, alongside a 225-tonne drop in aluminium stocks and a 50-tonne decrease each for zinc and tin. Copper stockpiles rose by 800 tonnes, while nickel inventories were unchanged. The exchange’s daily stock data cover its registered warehouses.

TREE NEWS reports: The eurozone flash manufacturing PMI for October came in at 52.4, missing expectations of 52.8 and down from 52.9 in September. The reading signals a slower pace of expansion in the bloc’s manufacturing sector at the start of the fourth quarter.

TREE NEWS update: China issued 1.9 trillion yuan ($260bn) of special bonds in the first nine months of 2025 to swap existing hidden local government debt, completing 95% of this year’s 2 trillion yuan quota, Vice Director of the Ministry of Finance’s Debt Management Department Zhao Zeyong said at a press conference on Oct. 23. Progress on the 6 trillion yuan hidden-debt swap quota has reached 98.3%.

TREE NEWS update: Zhejiang issued 8.34954 billion yuan of 7-year general local government bonds at a coupon of 1.4600%, with a bid-to-cover marginal ratio of 3.57 times against an expected 1.47. The province also sold 2.74302 billion yuan of 3-year ordinary special bonds at 1.2700%, marginal ratio 4.25 times, and 5.43708 billion yuan of 7-year ordinary special bonds at 1.4600%, marginal ratio 2.88 times.

TREE NEWS update: China’s Ministry of Finance will build up a policy reserve focused on household consumption, private investment and optimizing supply-demand structure, Li Nan, deputy director of the ministry’s financial affairs department, said at a press conference on October 23. The ministry plans to strengthen forward-looking research and expand its policy toolkit to make fiscal-financial coordination more regular and long-lasting, Li said.

TREE NEWS update: China’s fiscal-financial policy package to boost domestic demand supported more than 28 trillion yuan ($3.9 trillion) in new credit in the first three quarters of 2025, up 3.1% year on year, Vice Director of the Ministry of Finance’s Financial Department Li Nan said at a press conference on October 23. The policies benefited 8.36 million enterprises and 147 million residents over the period.

TREE NEWS update: China’s Ministry of Finance will move quickly to pre-issue part of the 2027 new local government debt quota, Vice Director of the ministry’s Debt Management Department Zhao Zeyong said at a press conference on October 23. Under an authorization from the NPC Standing Committee and with State Council approval, the ministry each fourth quarter pre-issues next year’s new local government debt quota within 60% of the current year’s limit.

TREE NEWS update: Northern Rare Earth reported third-quarter revenue of 15.534 billion yuan, up 35.96% year on year, with net profit of 1.593 billion yuan, up 161.13%. For the first nine months, revenue rose 36.45% to 41.333 billion yuan and net profit climbed 136.55% to 3.646 billion yuan.

TREE NEWS reports: Economists surveyed by Bloomberg expect the European Central Bank to pause rate hikes next week and deliver a final 25-basis-point increase in December, lifting the deposit rate to 2.75%. The forecast contrasts with market bets on substantially more tightening ahead. A large majority of respondents expect the move at the ECB’s final meeting of 2026.

TREE NEWS update: China’s Ministry of Finance said the housing loan interest subsidy policy has been implemented smoothly and is showing early results since taking effect nationwide on Oct. 1, Li Nan, deputy director of the ministry’s financial department, told a press conference on Oct. 23. It is the first time the central government has subsidized interest on commercial personal housing loans, and the ministry moved quickly to guide local implementation. Banks report that many families have been viewing homes and arranging loans, with borrowers saying the subsidy genuinely eases monthly payments.

TREE NEWS reports: The Shanghai Futures Exchange reported weekly declines in most base metal inventories, with copper stocks falling 19,606 tonnes, aluminium down 24,114 tonnes, lead down 23,761 tonnes, zinc down 6,870 tonnes, nickel down 1,160 tonnes and tin down 814 tonnes. Natural rubber inventories rose 2,732 tonnes over the same week.

TREE NEWS reports: A Malta-flagged tanker carrying 40,000 tonnes of Russian diesel is en route to New York following an agreement between Russian President Vladimir Putin and US President Donald Trump. The shipment marks a notable flow of Russian fuel toward the US after the reported deal.

TREE NEWS update: Germany’s flash manufacturing and services PMI estimates for October are scheduled for release at 15:30 Beijing time. The preliminary readings will offer the first look at business activity in Europe’s largest economy for the month.

TREE NEWS reports: The euro extended its decline against the US dollar to 0.2% following the release of French PMI data. The move came as the purchasing managers’ index figures for France were published, weighing on the single currency. No further detail on the data was provided.

TREE NEWS reports: France’s October manufacturing PMI fell to a preliminary 49.3, its lowest in 11 months. The services PMI dropped to 48.4, a two-month low, while the composite PMI also came in at 48.4, marking a four-month low. All three readings remained below the 50 mark separating expansion from contraction.

TREE NEWS reports: India’s Sensex index fell 1% to 72,515.11 on Tuesday. The decline marks a pullback for the benchmark index, which tracks 30 major companies listed on the Bombay Stock Exchange. No further details on the drivers of the move were immediately available.

TREE NEWS reports: China’s treasury futures closed mixed on the day, with the 30-year main contract down 0.11% and the 10-year main contract down 0.01%. The 5-year main contract edged up 0.01%, while the 2-year main contract was flat compared with the previous session.