Flash News

TREE NEWS update: Invesco Great Wall Fund announced that Liu Yanchun has stepped down as deputy general manager due to a work adjustment, and will remain a fund manager focused on investment management. The change reflects a broader trend of two-way mobility among Chinese mutual fund investment and research talent, as career paths move away from a one-way track from analyst to fund manager to management roles.

TREE NEWS reports: Foreign institutions added about RMB 1.6 billion of Chinese government bonds in August, the fourth consecutive month of net buying, lifting total holdings to nearly RMB 2.03 trillion. data. Analysts attributed the sustained demand to China’s steady economic fundamentals, with the bonds’ safe-haven and yield-stability features increasingly valued as global markets face repeated disruptions.

TREE NEWS reports: Shanghai’s average A-share brokerage commission rate stood at 0.0169% in August, up 4.32% month-on-month, excluding high-frequency quantitative trading. Despite the monthly uptick, the long-term downward trend in commission rates remains unchanged, prompting brokerages to accelerate their shift toward wealth management.

TREE NEWS reports: The number of commodity futures contracts in China with more than 10 billion yuan in open interest has risen to 16. Precious metals drew the most capital of any sector over the past week, with Shanghai gold’s settled funds rising more than 2.5 billion yuan to top 130 billion yuan.

TREE NEWS reports: Chinese public mutual funds filed 196 new fund products in September through Sept. 22, of which 37 were tech-themed, accounting for nearly one-fifth of the total and dominated by passive index products. Between Sept. 16 and Sept. 18 alone, seven fund houses including E Fund, China AMC, Huatai-PineBridge, China Merchants Fund, Bosera, Tianhong and Lombarda filed ChiNext computing-infrastructure ETFs and feeder funds. Chip design, software, communications equipment and AI index products were also filed.

TREE NEWS reports: Dim sum bond issuance reached a record 1.44815 trillion yuan across 1,726 issues as of September 22, 2025, surpassing the 1.428868 trillion yuan issued in all of 2024. The offshore renminbi bond market has run hot throughout the year.

TREE NEWS update: Apollo Global Management capped withdrawals from its Apollo Debt Solutions BDC for a third consecutive quarter, telling investors in a shareholder letter that redemptions will again be limited to 5% of outstanding shares after 14.7% of shares were submitted for exit. The roughly $26 billion fund’s request rate fell from 16.8% the previous quarter, as investors pull back from the $1.8 trillion direct-lending market.

TREE NEWS update: BHP said it has submitted a final proposal to the No. 2 Union representing supervisors and workers at its Escondida copper mine as part of collective bargaining. The offer includes higher pay, allowances and benefits, changes to operating practices and closing terms, and a proposed three-year contract. BHP said talks are taking place amid falling output, rising cost pressure and investment plans to sustain future production. Escondida said operations are running normally.

TREE NEWS reports: China and the United States are holding consultations on trade and economic issues guided by the important consensus reached between their heads of state, Economic Daily said. With global growth prospects increasingly uncertain, the world expects concrete results from the talks to steady the world economy, the paper said, adding that sustained high-level communication helps lift global confidence and reduce market volatility.

TREE NEWS reports: The People’s Daily’s Zhong Sheng column said China-US relations are the world’s most important and complex bilateral relationship, with leader diplomacy serving as its anchor. After more than a year of volatility, ties have shown overall stability, the commentary said, arguing that constructive strategic stability should be cooperation-led, with bounded competition, controllable differences and durable peace. It said both sides must move toward each other and implement the consensus reached by their heads of state.

TREE NEWS update: US Representative Hinson said the United States should pause diesel exports and hold off on implementing a gasoline tax. The lawmaker did not specify a timeline or legislative mechanism for either measure. The remarks come amid ongoing debate over domestic fuel supply and pump prices.

TREE NEWS reports: Eurozone, German, French, UK and US September flash PMI readings are due, with the euro area composite, manufacturing and services figures out at 16:00 Beijing time. ECB Vice President Boris Vujcic discusses digital banking and digital regulation at 15:00, while ECB governing council members Ulo Kaasik and Boris Vujcic, plus Croatia’s central bank chief, also speak. Japan’s markets are closed all day.

TREE NEWS reports: Interest-rate swaps now show markets expect the Federal Reserve to raise rates three times by next June, 25 basis points each, after policymakers voted last week to lift the benchmark rate by 25 basis points and signaled more tightening ahead to curb inflation. That hawkish consensus is pushing some traders to hedge with options tied to the Secured Overnight Financing Rate. Demand for call options on March SOFR futures has climbed over the past week, signaling growing appetite to guard against the risk the Fed hikes less than expected.

TREE NEWS update: Typhoon Dujuan, the 25th typhoon of the year, has killed seven people and left five missing in Japan’s Chiba and Kanagawa prefectures as of Nov. 23, after record rainfall triggered landslides and flooding across the Kanto region and the Izu Islands. More than 500 homes have been confirmed damaged in Chiba, Kanagawa and Ibaraki prefectures.

TREE NEWS reports: People’s Bank of China Governor Pan Gongsheng said in a signed article that the central bank will strengthen coordination with industrial policy and guide financial institutions to assess risks scientifically, applying differentiated measures with support for some sectors and controls on others to curb “involution-style” competition in certain industries. Experts say the logic of financial resource allocation is shifting away from credit that fuels crude capacity expansion toward serving supply optimization, technological upgrading and the orderly exit of outdated capacity, with the credit structure expected to improve further during the 15th Five-Year Plan period.

TREE NEWS reports: China’s 384 passive index bond funds reached a combined 2.07 trillion yuan in assets, Wind data showed as of September 21. The 53 bond ETFs tracked in the same data set totaled 987.129 billion yuan, just 12.871 billion yuan short of the 1 trillion yuan mark, as bond investment indexation continued to advance this year.

TREE NEWS reports: WTI crude oil broke above $90 a barrel in early Asia-Pacific trading on Wednesday, though it was down 0.57% on the day. New York silver futures rose 1% in the session to trade at $67.69 an ounce. Both moves were reported in early regional trading hours.

TREE NEWS update: NASA and SpaceX have targeted 11:10 a.m. EDT on Oct. 1 as the earliest launch window for the Crew-13 mission to the International Space Station. The agency announced the date on [date not given]. Crew-13 would be the next crewed rotation flight to the orbiting laboratory under NASA’s commercial crew program.

TREE NEWS reports: Explosions were heard near Iran’s Qeshm Island, with the sounds apparently coming from the sea. No information currently indicates that Qeshm Island itself was affected. No further details on the cause or any damage have been reported.

TREE NEWS update: Iraqi Prime Minister is set to meet the President of the United States. No date, location or agenda for the meeting has been disclosed.