Flash News

TREE NEWS reports: IMF Chief Economist said the fund has yet to see productivity gains from artificial intelligence, indicating the expected economic uplift from AI adoption has not shown up in the data so far. The remark leaves open when, or whether, such gains will materialize. No figures or timeframe were given.

TREE NEWS reports: The IMF said an AI-driven selloff and a sharp spike in bond market yields are among the potential threats facing financial markets. A correction in AI-related investment could have global consequences, the fund said, adding that risks in the bond market have risen since its previous stability report in April.

TREE NEWS update: Several leading Chinese polysilicon producers agreed at a closed-door meeting in Hangzhou that the average tax-inclusive cost and corresponding sales price of polysilicon must not fall below 43,000 yuan per tonne, and the matter has been confirmed as accurate. The meeting also set a floor price for solar cell quotes and covered supporting arrangements including capacity coordination and peer monitoring and reporting mechanisms.

TREE NEWS update: The Export-Import Bank of China issued a 1-year bond of 13 billion yuan at a coupon of 1.3500%, slightly above the expected 1.3400%, with a bid-to-cover ratio of 3.56 times. The issuance drew 3.56 times the amount offered in bids.

TREE NEWS reports: South Korea’s KOSPI closed down 3.65% at 6,384.25 on October 12, with Samsung Electronics falling 4.39% to 250,500 won and SK Hynix dropping 4.52% to 1,605,000 won. Foreign investors net sold nearly 2 trillion won of Korean stocks that day, about 29.7 trillion won over the past month. The index has fallen almost 32% from its June 22 high of 9,385.59.

TREE NEWS update: The 16th Airshow China will for the first time open a maritime exhibition zone at Gaolan Port, where the Chinese Navy will statically display active-duty warships along nearly 1,000 meters of shoreline and show amphibious armored vehicles on land, organizers said at a Beijing press conference on Oct 13. The zone will be free and open to the public by online appointment and ID check, with public open days held during the event.

TREE NEWS update: The 16th China International Aviation and Aerospace Exhibition will feature a drone and counter-drone systematic demonstration platform at its Lianzhou unmanned equipment zone, organizers said at a Beijing press conference on Oct 13. The zone covers 6,000 square meters of indoor exhibition space and about 4,000 square meters of outdoor booths, with 90 companies and 40 aircraft registered to take part.

TREE NEWS reports: Bank of England Monetary Policy Committee member Greene said successive waves of inflation are shifting behaviour patterns, in comments published on Wednesday. Greene, an external member of the rate-setting committee, did not specify which behaviours or which measures of inflation expectations he was referring to. The remarks come as the MPC weighs how persistent price pressures are feeding into wage-setting and spending decisions.

TREE NEWS reports: The overnight Shanghai Interbank Offered Rate (SHIBOR) fell 0.80 basis points to 1.2880%. The 7-day SHIBOR declined 0.50 basis points to 1.3410%, while the 3-month SHIBOR was unchanged at 1.4300%.

TREE NEWS reports: The MMLC battery-grade lithium carbonate mid-price fell 4,500 yuan to 107,250 yuan per tonne in morning trading, compared with the previous day’s 16:30 level. The decline reflects continued pressure on the key battery material used in electric-vehicle power cells.

TREE NEWS update: China Development Bank issued a 3-year bond totaling 7 billion yuan at a coupon of 1.4579%, below the expected 1.4800%. Bidding was 4.44 times the amount offered, with a marginal bid-to-cover ratio of 6.63 times.

TREE NEWS reports: Japan’s Nikkei 225 fell 2.5% and the Topix dropped 0.5% by the morning session close in Tokyo. The split performance left the broader Topix index far less affected than the blue-chip Nikkei average.

TREE NEWS update: Chinese Vice Premier He Lifeng met a delegation from the National Committee on U.S.-China Relations at the Diaoyutai State Guesthouse in Beijing on Dec. 12, saying President Xi Jinping’s recent state visit to the U.S. produced agreement on building a constructive strategic relationship based on respect, fairness and reciprocity. He said both sides should implement that consensus to inject certainty into economic and trade cooperation, and asked the NCUSCR to keep promoting bilateral economic engagement. The U.S. side said stable ties are important and it will keep serving as a bridge.

TREE NEWS reports: Hong Kong’s Hang Seng Index dropped more than 1% on the day, with Haidilao, WuXi Biologics and Hua Hong Semiconductor each falling over 5%. The decline was led by consumer and healthcare names alongside semiconductor maker Hua Hong.

TREE NEWS update: IMF Chief Economist Pierre-Olivier Gourinchas said policymakers should adopt more restrictive monetary policy to bring inflation back to target. The call for tighter policy signals the Fund’s view that inflation risks remain and that central banks should not ease prematurely.

TREE NEWS update: CanSemi Semiconductor listed on October 13, becoming the first wafer foundry on ChiNext. The company is Guangdong’s first 12-inch wafer manufacturer to reach mass production and mainland China’s only 12-inch silicon photonics wafer production platform. GAC Capital, which backed CanSemi’s Series A and B rounds in 2021 and 2022, said its core thesis was improving self-sufficiency in automotive semiconductors.

TREE NEWS update: Liaoning’s Finance Department and Data and Government Services Bureau jointly issued implementation rules for a computing power voucher policy, officially launching the subsidy program backed by provincial digital economy special funds. The policy aims to inject fiscal support into the province’s artificial intelligence industry.

TREE NEWS reports: Indonesia’s and the Philippines’ benchmark stock indices each fell 1% during intraday trading. The declines mark a day of losses for both Southeast Asian equity gauges.

TREE NEWS update: Tongwei, GCL and other leading Chinese solar manufacturers held a closed-door meeting in Hangzhou on October 11 to advance an industry anti-involution initiative. The meeting produced a plan to implement capacity limits, under which companies would voluntarily restrain output based on total market demand through market-based adjustment mechanisms, and set clear price floors for polysilicon and module segments.

TREE NEWS reports: The New Taiwan dollar weakened 0.5% against the US dollar to trade at 32.056. The move marks a further slide in the Taiwanese currency, which has been under pressure amid broad US dollar strength. No official intervention or policy comment accompanied the level.