Flash News

TREE NEWS reports: Fuel oil climbed about 4.5% in the night trading session, leading gains in China’s futures market. Iron ore rose 1.6%, PVC added 1.1% and palm oil gained 0.6%.

TREE NEWS update: Germany’s automotive industry association VDA said mandatory localization of electric vehicle battery production should not be required before 2031. The body representing the country’s carmakers and suppliers argued against forcing battery manufacturing to be sited domestically ahead of that date.

TREE NEWS reports: CBOT wheat futures fell 1.0% intraday to 697.42 cents a bushel. The move marks a 1% decline for the Chicago Board of Trade wheat contract during the session.

TREE NEWS reports: Shares of French satellite operator Eutelsat rose 20% as European satellite communications firms regained investor attention amid controversy over restrictions on Ukraine’s military use of SpaceX’s Starshield service. Eutelsat operates Europe’s rival satellite constellation. The dispute over Starshield access for Ukrainian forces has put the continent’s own satellite communications capacity back in focus.

TREE NEWS update: Iraqi Foreign Minister Fuad Hussein said the conflict between the United States and Iran has caused Iraq roughly $60 billion in economic losses. The statement did not break down how the losses were calculated or which sectors were affected.

TREE NEWS update: Australia has advised its citizens not to travel to Saudi Arabia. The advisory was issued without further detail on the specific reasons or any time frame. Australians already in the country were not given additional instructions in the available material.

TREE NEWS reports: Goldman Sachs strategists led by Sunil Koul said Brazilian markets may have further room to rise after the first round of the presidential election, depending on whether favorable fiscal policy is implemented after the October 25 runoff vote. They noted positioning in some sectors remains relatively light, foreign inflows still have room to accelerate, and valuations are broadly in line with fair value.

TREE NEWS update: Russian official Kirill Dmitriev said more US initiatives will be announced soon, Interfax reported. Dmitriev gave no further details on the nature or timing of the measures. The remarks come amid ongoing discussions between Washington and Moscow.

TREE NEWS reports: China’s gold jewellery consumption rose year on year in the first half of 2026, approaching its historical peak, the World Gold Council said on October 16 in its 2026 China Gold Jewellery Retail Market Insights report. Self-purchase demand is driving purchases, shifting the market from traditional ceremonial occasions to emotional motivation, with the 18-34 age group one of the core pillars of overall consumption.

TREE NEWS update: The United States is offering up to 17 million barrels of oil from its Strategic Petroleum Reserve, the government announced. The release draws on the country’s emergency crude stockpile, the volume being the only figure disclosed. No timing, buyer or delivery terms were given.

TREE NEWS update: Russian President Vladimir Putin’s special envoy Dmitriev said Russia and the United States are discussing joint data center projects, including the use of Russian nuclear power plants. He gave no further details on the talks, the participants or a timeline.

TREE NEWS update: Fangda Special Steel announced it will exit its position as a limited partner in Nanchang Huxu and acquire 100% of Jiangxi Fangda Steel Group Enterprise Investment Co. (Fangda Qitou) via in-kind distribution and cash purchase. The 99.26% stake is transferred through in-kind distribution at no additional consideration, valued at 3.5 billion yuan based on paid-in capital, while the remaining 0.74% is bought for 26 million yuan. The deal secures vanadium-titanium supply and vanadium extraction technology.

TREE NEWS update: People’s Bank of China Governor Pan Gongsheng met IMF Managing Director Kristalina Georgieva in Bangkok on the sidelines of the IMF/World Bank annual meetings, the central bank said. The two exchanged views on the economic situations in China and globally and on cooperation between China and the Fund. PBOC Deputy Governor Xuan Changneng also attended the meeting.

TREE NEWS update: Bank of China held the unveiling ceremony for a renminbi clearing bank in Colombo, Sri Lanka, on October 15. Sri Lankan Central Bank Deputy Governor Siri Kumara and Labour Minister and Deputy Finance Minister Fernando spoke at the event, which drew more than 200 representatives from Sri Lankan government departments and Chinese and Sri Lankan companies and financial institutions.

TREE NEWS update: Beijing Normal University Affiliated High School held the inauguration ceremony for its Qian Xuesen College. Professor Qian Yonggang was appointed honorary dean, and appointment letters were presented to off-campus mentors. The college said it will carry forward the spirit of scientists and explore new models for cultivating top innovative talent.

TREE NEWS reports: The euro rose 0.3% to $1.1254, clawing back part of the ground lost after hitting a 17-month low on Wednesday, as dollar weakness followed remarks by Federal Reserve Chair Warsh. Traders are watching rate paths on both sides of the Atlantic, with signs of a widening US-European central bank rate gap having previously pressured the euro. Options-market sentiment has improved but remains negative.

TREE NEWS reports: China’s outdoor sports participants exceeded 500 million by the end of the 14th Five-Year Plan period, with the sector’s total scale reaching about 3.17 trillion yuan, according to the China Outdoor Sports Industry Development Report (2025-2026) released at the 2026 China Outdoor Sports Industry Conference, which opened on the 16th in Changping District, Beijing. The same report a year earlier put participation at over 400 million as of early April 2025.

TREE NEWS update: US President Donald Trump said on the 15th that the United States may carry out further strikes on Iran’s nuclear facilities, including the underground Fordow site. He made the remarks at the White House in an interview with the US outlet One America News Network.

TREE NEWS update: China’s Film Bureau and General Administration of Sport jointly issued a notice to launch the ‘Follow Movies to Sports’ campaign, promoting cross-sector cooperation between film and sports. The initiative covers cultural promotion, consumer tie-ins and public welfare coordination, aiming to boost public participation in both movie-going and sports activities.

TREE NEWS update: The US Treasury Department issued Venezuela-related General License 60A, the Trump administration’s authorization of funding support for Venezuela following recent earthquakes. The license, published by Treasury, permits the previously restricted flow of funds toward earthquake relief in the country. No further terms or counterparties were disclosed.