Flash News

TREE NEWS update: Federal Reserve Chair Warsh said he would be cautious about introducing new ideas into the Fed if he had no prior experience at the institution. He said the Fed is full of talent and that the key is fostering the right organizational culture. Warsh also noted that 75% of Fed staff do not work on monetary policy.

TREE NEWS reports: The US dollar index dropped more than 10 points in short-term trading as Federal Reserve Chair Warsh delivered remarks. The move came during his speech, with no further details immediately available on the content of his comments or the precise timing of the index decline.

TREE NEWS update: Federal Reserve Chair Warsh said the Fed’s task force is charged with creating new intellectual capital to assist the Federal Open Market Committee. He said the US is boosting investment in new technologies through the private sector and that the Fed will not try to judge who is right or wrong. Warsh also said the Fed needs to consider financial stability risks and ask whether negative tail risks exist that policymakers can act on.

TREE NEWS update: Federal Reserve Chair Warsh said the US now refers to artificial intelligence as ‘SI’, calling AI the most consequential economic transformation of his lifetime. He said AI’s demand-side effects will show up before its supply-side impact, and that it will help the central bank have more confidence in data and monetary policy. The Fed will hold an in-person hearing on AI in the San Francisco Bay Area on November 16.

TREE NEWS update: Federal Reserve Chair Warsh said the Fed’s policy clearly spills over to the rest of the world, while other countries’ policies in turn affect the United States. He said the Fed has made clear its commitment to price stability and that he does not favor pre-judging interest-rate meetings.

TREE NEWS update: Federal Reserve Chair Warsh said the economy is in a structural growth phase and is experiencing an investment boom. He attributed the boom to sound policy, calling it the most critical factor in the global economy’s positive development. Warsh did not provide further details in the remarks.

TREE NEWS update: Federal Reserve Chair Warsh said the central bank will hold several more policy meetings this year, with the October and December gatherings serving as the pivotal moments for reaching clear conclusions. He said policy judgments will be made at the October and December meetings. Warsh did not indicate the direction of those decisions.

TREE NEWS update: China’s Ministry of Finance issued a 3-year bond of 120 billion yuan at a 1.2522% coupon, versus an expected 1.2600%, with a bid-to-cover ratio of 3.15 times and a marginal ratio of 4.09 times. It also issued a 20-year bond of 20 billion yuan at 2.0649%, versus an expected 2.0700%, with a bid-to-cover of 10.48 times and a marginal ratio of 1.04 times.

TREE NEWS reports: Federal Reserve Chair Kevin Warsh said he may have been left with an overly deep scar from the global financial crisis. He made the remark about how that experience shapes his thinking. No further details were given.

TREE NEWS reports: Sensor Tower data shows 37 Chinese publishers ranked among the global top 100 mobile game publishers in September, generating a combined $2 billion, or 41.6% of the top 100’s total revenue. Tencent held the top spot, with the top seven rankings unchanged. Bilibili’s revenue rose 36% month-on-month, climbing seven places, while Joy Games jumped 10 spots.

TREE NEWS update: Venezuelan President Nicolás Maduro and his wife pleaded not guilty on the 15th in the US District Court for the Southern District of New York to new US charges of torture and mistreatment. Prosecutors allege Maduro directed Venezuelan officials to torture inmates in Venezuelan prisons, including detained US citizens, and that his wife approved the torture scheme. Maduro called the charges “false” in court.

TREE NEWS update: US Treasury official Brown said Japan no longer faces a deflationary environment and that the yen’s exchange rate level and monetary policy must change accordingly. The US and Japan maintain close communication and cooperate at all levels to support stable, well-functioning markets, he said. Sharp, disorderly exchange-rate moves could trigger broader knock-on effects and large swings across the market.

TREE NEWS reports: The Shanghai Composite closed the morning session at 3742.66, up 0.95%, while the Shenzhen Component rose 1.19% to 11957.07 and the ChiNext Index gained 0.96% to 2809.90. Smaller-cap gauges outperformed: CSI 1000 climbed 1.94% to 6808.19, CSI 500 rose 1.71% to 6884.77, STAR 50 added 1.64% to 1381.85 and CSI 300 gained 0.75% to 4197.46.

TREE NEWS reports: The Shanghai Composite rose 0.95% and the Shenzhen Component gained 1.19% by the midday break, with more than 4,800 stocks in Shanghai, Shenzhen and Beijing trading higher. Defense, low-altitude economy, real estate and innovative drug sectors led gains, while PCB, gaming, brokerage and battery shares lagged. Turnover for the morning session reached 971 billion yuan.

TREE NEWS update: China General Nuclear Power Group’s Weijiachong pumped-storage hydropower station in Tuanfeng County, Hubei province, began commercial operation of its first unit on the 16th, the first mid-small pumped-storage project to come online during China’s 15th Five-Year Plan period. The station has a total installed capacity of 298 MW, comprising two reversible pump-turbine generating units of 149 MW each.

TREE NEWS update: Federal Reserve Chair Warsh is scheduled to hold a fireside chat with the IMF Managing Director in Bangkok at 11:30 Beijing time. The appearance places the Fed chief alongside the head of the International Monetary Fund during the fund’s meetings in Thailand.

TREE NEWS update: The Export-Import Bank of China issued a 1-year bond worth 13 billion yuan at an interest rate of 1.3277%, slightly below the expected 1.3300%. The bid-to-cover ratio was 2.71 times, with a marginal ratio of 1.05 times.

TREE NEWS reports: Shares tied to China’s low-altitude economy extended gains, with Zongshen Power and Shanggong Shenbei touching the 10% daily limit. Jindun shares and Wanfeng Auto had already sealed limit-up earlier, while Huali Chuangtong, Guanglian Aviation, Zongheng shares and Andawell each rose more than 10%.

TREE NEWS reports: Indonesia’s 10-year government bond yield climbed 10 basis points to its highest level in two months. The move marks a sharp upward repricing of Indonesian sovereign debt, lifting yields to levels last seen roughly eight weeks ago.

TREE NEWS reports: China’s overnight Shanghai Interbank Offered Rate (SHIBOR) stood at 1.2640% on the latest fixing, down 0.20 basis points. The 7-day SHIBOR came in at 1.3390%, down 0.70 basis points, while the 3-month rate was unchanged at 1.4300%. The moves leave China’s short-term interbank funding costs near recent lows.