Flash News

TREE NEWS reports: China’s three major stock indices closed lower on a thin-volume session, with the ChiNext Index down 0.6% and the Shanghai Composite off 0.39%. PCB-related shares repeatedly rallied, led by Daya Shengxiang’s fourth straight limit-up, while coal and media stocks fell. About 3,500 stocks declined across the Shanghai, Shenzhen and Beijing exchanges, with turnover at 1.78 trillion yuan.

TREE NEWS update: Agricultural Development Bank of China issued an 8 billion yuan 3-year bond at a yield of 1.4189%, slightly below the 1.4200% expected, with a bid-to-cover ratio of 3.82 times and a marginal ratio of 1.90 times. It also issued a 5 billion yuan 5-year bond at 1.4940%, below the 1.5000% expected, with a bid-to-cover ratio of 5.47 times.

TREE NEWS reports: European equities opened higher on the day, with the Euro Stoxx 50 rising 0.48% at the open. Germany’s DAX gained 0.36%, the UK’s FTSE 100 added 0.32%, and France’s CAC 40 was up 0.362%.

TREE NEWS reports: Commodity futures closed lower, with the main bitumen and crude oil contracts falling more than 4%, while ethylene glycol, staple fiber, methanol and lithium carbonate each dropped over 3%. No. 20 rubber rose more than 3%, rubber gained over 2%, and BR rubber and the container shipping Europe line added more than 1%.

TREE NEWS reports: Zhejiang’s cross-border e-commerce imports and exports reached 66.69 billion yuan in the first eight months of the year, up 7.3% year on year. The figure was released as the fifth Global Digital Trade Expo runs in Hangzhou from September 23 to 27. Cross-border e-commerce has continued its strong momentum as a key segment of digital trade in the province.

TREE NEWS reports: Novo Nordisk CEO Mike Doustdar said the company is open to upgrading its New York listing to a direct listing as it seeks to raise its profile in the US, though no active discussions are underway. Doustdar sees advantages in replacing Novo Nordisk’s ADR with a direct listing on the New York Stock Exchange, following a similar move by AstraZeneca earlier this year.

TREE NEWS update: Jiangsu province issued 610 million yuan of 7-year special local government bonds for shantytown renovation at a coupon of 1.5100%, with a marginal bid-to-cover of 5.16 times against an expected 1.51 times. The province also priced 15-year toll-road special bonds of 370 million yuan at 1.9600% and 15-year general special bonds of 2.06 billion yuan at 1.9700%, alongside other tranches.

TREE NEWS update: Filings released Tuesday show accounts held by Donald Trump executed 1,156 securities trades in July, with total volume between $79 million and $270 million, including at least $43.6 million in buys and $35.6 million in sells. On July 20 the accounts sold $5 million to $25 million each of Microsoft and Amazon stock — the month’s largest single trades — while selling $1 million to $5 million of Oracle and buying $500,010 to $1 million of Nvidia. Three days later the accounts modestly rebuilt the Microsoft and Amazon positions, and also traded SpaceX and Tesla-linked names.

TREE NEWS update: Saudi Arabia’s energy ministry said in a statement on the 22nd that the kingdom did not purchase 25 oil tankers, rejecting Iraqi claims that such a purchase drove up Iraq’s crude shipping costs. The ministry called the Iraqi assertion untrue.

TREE NEWS update: The New Development Bank released its China Country Portfolio Evaluation Report, covering 27 projects approved between July 2015 and December 2024. The evaluation was carried out by the bank’s Independent Evaluation Office.

TREE NEWS reports: South Korea’s KOSPI closed up 61.02 points, or 0.87%, at 7,078.93 on Wednesday. Japanese stock markets were closed for the day, leaving Seoul as the only major regional market trading. The index’s gain came in a session without direction from Tokyo.

TREE NEWS reports: South Korea’s KOSPI closed 0.87% higher at 7,078.93 on the session, the index’s closing level for the day. The gain extends the benchmark’s advance, with the index settling at that level at the close of trading.

TREE NEWS reports: China’s Five-hundred-meter Aperture Spherical radio Telescope (FAST) has been in operation for ten years, with the team reporting a series of landmark achievements in engineering, frontier science and applications. The FAST team said it will continue advancing the second phase of the project to consolidate China’s international lead in radio astronomy and produce more major original scientific results.

TREE NEWS update: Huaneng Lancang River Guxue (Mangkang) Hydropower Co., Ltd. has been established in Tibet with registered capital of 5.6 billion yuan ($770 million). Huaneng Hydropower’s upstream subsidiary holds 89% and CATL holds 11%; the company’s business scope covers power generation, transmission and hydroelectric power. Legal representative is Guo Jianwen.

TREE NEWS update: Iran said half of the damaged production capacity at the South Pars gas field has been restored. The field is the country’s largest gas reservoir. No further details on the extent of the damage or a timeline for full recovery were given.

TREE NEWS reports: South Korea recorded 24,275 births in July, up 11.1% year on year and the highest for that month since 2019. Cumulative births for the first seven months of 2025 exceeded 170,000, reaching 170,079, a 14.7% increase — the largest such gain on record. The July total fertility rate rose 0.08 to 0.89.

TREE NEWS reports: Zhu Jin, chief real estate, construction and REITs analyst at China Securities (CSC), said at the 2026 China Real Estate Brand Value conference that Shanghai’s housing market has stopped falling and stabilized, with both new and second-hand home prices rising and its sales-to-supply ratio above 1. He expects Shenzhen, Beijing and Guangzhou to follow in turn, describing the market as a “weak recovery with strong divergence.”

TREE NEWS update: UK Prime Minister Andy Burnham met Ukrainian President Volodymyr Zelensky during the UN General Assembly, where the two discussed a proposal to stop strikes on energy infrastructure. Burnham condemned Russia’s ongoing attacks on Ukraine. Both sides agreed on the need to keep up pressure on Russia through sanctions.

TREE NEWS update: The People’s Bank of China issued its 2026 ninth-tranche central bank bills on Wednesday, September 23, through the Hong Kong Monetary Authority’s Central Moneymarkets Unit bond tender platform. The issuance was conducted by interest-rate tender. The central bank did not disclose the size of the offering in the material.

TREE NEWS reports: Chinese property shares extended gains as market rumors circulated that a nationwide mortgage interest subsidy would soon land, with the Ministry of Finance and local governments each covering 20-50 basis points and total relief of up to 100 BP pushing first-home loan rates to 2%. A separate rumor cited a 100 billion yuan quota with a 20 BP subsidy for first homes. Multiple brokerage property analysts said a nationwide subsidy is unlikely, with one noting extending loan terms at the national level is roughly equivalent to the interest saved by subsidies or rate cuts.