Flash News

TREE NEWS update: Iran’s foreign minister said the plan to reopen the Strait of Hormuz within seven days remains valid. If the United States meets Iran’s conditions, the strait could open within six days, with negotiations resuming on the seventh day, the minister said on October 18.

TREE NEWS update: Taiyi Nuclear Energy held a launch event on Oct. 17 for a controlled nuclear fusion stellarator project, establishing Jiangsu province’s first controlled fusion research and validation base in Wuxi High-Tech Zone. The project uses a globally first-of-its-kind dual-mirror stellarator configuration, carries total investment of over 2.5 billion yuan, and fills domestic gaps in large stellarators and commercial applications.

TREE NEWS reports: Japanese public support for the cabinet has dropped to 49.1%. The survey result marks a decline in approval for the current administration. No further details on the poll’s methodology or comparison to prior readings were provided.

TREE NEWS update: Iran’s parliament on the 18th approved Akhlaghi as the country’s new defense minister. The confirmation vote installs him in the post as the head of Iran’s defense ministry.

TREE NEWS reports: Cinda Securities reported first three-quarter revenue of RMB 3.305 billion, up 9.48% year on year, while net profit attributable to shareholders fell 4.83% to RMB 1.288 billion. Non-recurring net profit slipped 0.49% to RMB 1.345 billion. Third-quarter net profit dropped 42.03% to RMB 191 million, which the company attributed mainly to higher income tax expenses in the period.

TREE NEWS reports: Citi analysts say AI-driven earnings growth and shifts in investor ownership are weakening the traditional link between US Treasury yields and equity valuations, with rate rises now affecting growth expectations more than stock valuations. The bank’s model puts the S&P 500’s fair P/E range at 17.1 to 22.1 times, while the current multiple stands at 22.4 times, signaling bullish market sentiment. Since late August, cyclicals and defensives have been hurt by rising rates, while growth stocks held up on AI earnings expectations.

TREE NEWS update: A southbound tugboat was struck by two unidentified projectiles northeast of Khor Fakkan, UAE, on Oct. 18, damaging the vessel and causing one minor injury, the UK Maritime Trade Operations office said. The tug is continuing on its planned route while authorities investigate. UKMTO warned all passing vessels to exercise heightened caution in the area and report any suspicious activity.

TREE NEWS update: China Rare Earth Group and Harbin Electric Corporation signed a strategic cooperation framework agreement on Oct. 15, the rare earth group said. Chairman Liu Leiyun said the two sides will build on existing cooperation, strengthen strategic coordination and align industrial resource advantages with major equipment development and application needs.

TREE NEWS reports: China’s national railway network carried 3.71 billion passenger trips in the first three quarters of the year, up 4.8% year on year and a record high for the period, China State Railway Group said. The figure marks the highest passenger volume ever recorded for the January-September window.

TREE NEWS update: People’s Bank of China Deputy Governor Xuan Changneng attended the Global Sovereign Debt Roundtable and other meetings during the IMF/World Bank annual meetings in Bangkok from Oct. 14-17. He said rising global risk-free rates are pushing up developing countries’ financing costs and worsening their debt burdens, and called for stronger multilateral cooperation under the principle of “joint action and fair burden-sharing” to build an effective mechanism for comparable private-sector participation in debt restructuring.

TREE NEWS update: Shenzhen Mayor Li Yun met with Lu Wei, president of Postal Savings Bank of China, to discuss deeper cooperation in infrastructure, urban renewal and industrial parks, and to advance technology finance. Lu said the bank will increase lending in Shenzhen and strengthen collaboration in infrastructure, technological innovation and emerging industries to support the city’s high-quality development and modernization.

TREE NEWS update: Shenzhen Mayor Li Yun met CITIC Securities Chairman Zou Yingguang to discuss cooperation on corporate listing services and industrial fund operations. Li said the city aims to develop patient capital and advance technology finance. Zou said CITIC Securities will increase resources in Shenzhen and expand cross-border finance and other new business formats through full-license integrated financial services.

TREE NEWS update: Iraqi Prime Minister al-Zaidi opened the 52nd session of the OIC Council of Foreign Ministers in Baghdad on the 17th, urging member states to strengthen cooperation and respect differences to promote regional stability and peace. He said the Palestinian issue is the core of regional conflict and that ensuring justice and rights for the Palestinian people is essential to regional security and stability.

TREE NEWS update: The Saudi-led multinational coalition intercepted and destroyed a drone in the Eastern Province, coalition spokesman Turki al-Maliki said on 18th in a post on social media. The statement gave no further details on the drone’s origin or the location of the interception. The coalition said the drone was destroyed.

TREE NEWS update: Iran’s navy said on the 17th that a rising number of ‘violating’ tankers have been damaged recently while attempting to cross restricted zones around the Strait of Hormuz. The force said it maintains full intelligence surveillance over the eastern Strait of Hormuz, the Arabian Sea and the Gulf of Oman, and that the strait is not in an ‘open’ state. It urged countries not to be misled by US claims and said parties must coordinate with Iranian armed forces to ensure safe navigation.

TREE NEWS update: Yemen’s Houthi movement said it shot down a Saudi ‘Kariyar’ armed reconnaissance drone over Hajjah province in the early hours of the 18th, local time. The group said it was the fourth drone of that type brought down since the latest escalation. No further details on the incident or the drone’s operator were given.

TREE NEWS update: US Secretary of State Marco Rubio said on October 17 that no one at the White House ordered a slowdown of Ukraine’s access to Starlink. The remark addresses speculation about the satellite internet service, which has been critical to Ukraine’s communications. Rubio did not elaborate further on the matter.

TREE NEWS update: Iranian Foreign Minister Abbas Araghchi said on the 17th in Baghdad that Tehran supports an “inclusive and comprehensive political process” to resolve the conflict between Saudi Arabia and Yemen’s Houthi movement, calling it the “only viable and sustainable path” to a Yemen settlement. He spoke during a meeting of the OIC Council of Foreign Ministers. Iran has repeatedly signaled willingness to mediate between Riyadh and the Houthis.

TREE NEWS update: Yemen’s Houthi movement said on 17 September it shot down a Saudi Apache attack helicopter over the border region near Najran while it was conducting hostile operations against Houthi positions. Spokesman Yahya Saree gave no details on the crew or the exact location, and Saudi Arabia has not responded. The same day, Houthi prisoner-affairs official Abdul Murtada said 159 government troops captured in recent fighting were released in Sanaa.

TREE NEWS reports: Yaoyao Liu, the oil derivatives trader who earned Vitol billions of dollars, is leaving the commodities trading giant. The 39-year-old stepped back from day-to-day trading around mid-year, people familiar said, as his team’s trading book posted significant losses for a second consecutive year. Liu had already begun planning his retirement in 2025, before this year’s trading turmoil.