Flash News

TREE NEWS reports: India’s August composite PMI was finalized at 54.3, down from the flash estimate of 54.6, indicating continued expansion in the private sector. The reading, released today, reflects sustained growth in both manufacturing and services.

TREE NEWS update: The 2026 World Power Battery Conference opened in Yibin, Sichuan, on September 3. Under the theme ‘Electrify Everything, Integrate for Symbiosis,’ the two-day event features a plenary session, eight thematic forums, and activities covering policy, solid-state batteries, supply chains, applications, energy storage, and recycling.

TREE NEWS update: Hyperscale Data has ended its Bitcoin mining operations in Michigan, with its BTC holdings falling about 79% since late July to 215 BTC. The company is redirecting capital toward its Michigan AI data center.

TREE NEWS update: China’s Vice Commerce Minister Ling Ji and his EU counterpart, Deputy Director-General Denis Redonnet of the European Commission’s trade and economic security department, held trade consultations in Beijing from August 31 to September 2. The talks prepared for the second meeting of the China-EU Trade and Investment Consultation Mechanism.

TREE NEWS update: China’s drug regulator and customs jointly announced that methoxyetomidate, leretomidate and sonanfetol will be added to the controlled medicinal psychotropic substances list, with customs commodity codes published for declaration reference. The measure takes effect on October 1, 2026, and applies to imports and exports, excluding approved domestic pharmaceutical preparations containing the substances.

TREE NEWS update: The US Department of Justice issued a legal opinion on April 2 requiring states receiving federal welfare funds to expand reporting of undocumented immigrants to the Department of Homeland Security, or face funding cuts. The move pressures states to cooperate with federal immigration enforcement, extending reporting duties to agencies like motor vehicle departments and state universities. At least 19 states and Washington, DC, currently allow undocumented immigrants to obtain driver’s licenses.

TREE NEWS update: China’s National Disaster Prevention and Reduction Committee and the Ministry of Emergency Management, in a multi-department consultation, forecast that 2-3 typhoons will make landfall or significantly affect China in September 2026, more than the usual annual average. The typhoons are expected to be stronger, moving northwestward or westward, mainly impacting eastern and southern coastal areas, with a possibility of a stronger typhoon affecting northern regions.

TREE NEWS update: Key global data and events today (Beijing time) include India, France, Germany, Eurozone, UK August PMIs, Swiss CPI, Eurozone July PPI, US initial jobless claims, trade balance, Q2 productivity, ISM services, and Fed speakers Waller, Hammack, Goolsbee. Tesla holds its Cybercab event. BOE’s Pill speaks. Times range from 13:00 to next day 03:55.

TREE NEWS update: A Michigan court has ordered Kalshi to continue blocking sports prediction markets, converting a temporary restraining order from June into a preliminary injunction. Violations would incur a fine of $500,000 per day. The ruling keeps the prediction market platform from offering sports event contracts in the state pending further legal proceedings.

TREE NEWS update: Shanghai Composite rose 0.43% by midday, led by cultivated diamond and shipping stocks. Hang Seng was flat, Hang Seng Tech fell 0.6%, Hang Seng Biotech gained nearly 1%. China’s August RatingDog services PMI rose to 51.4, with employment growing for four straight months. Uber plans to cut about 10% of global staff.

TREE NEWS update: Chinese optical communications equipment maker Nazhen Technology plans to launch its Hong Kong IPO as early as September 14, targeting a raise of about $800 million. The company is set to list on the Hong Kong Stock Exchange.

TREE NEWS update: Uber announced plans to cut about 10% of its global workforce. The restructuring will see only about 1% of employees working remotely, a 20% reduction in staff positioned seven or more levels from the CEO, and a nearly 50% cut in the number of micro-teams.

TREE NEWS update: The Xinjiang Production and Construction Corps sold 45.3 billion yuan of local government bonds on [date], including general and special-purpose debt with maturities of 5 to 15 years. Coupon rates ranged from 1.46% to 2.09%, with marginal multiples indicating strong demand for longer-dated issues.

TREE NEWS reports: Beijing’s Xinfadi market saw average egg prices of 10.14 yuan/kg in August, up 9% from July and 50% year-on-year, the highest for the period in three years. National layer farming remained profitable at about 1.2 yuan per jin, up 0.2 yuan from the previous month. Experts attribute the rise to increased purchases by food processors ahead of the Mid-Autumn Festival, boosting consumption by about 2%.

TREE NEWS reports: Broadcom reported FY2026 Q3 revenue of $29.591B and adjusted EPS of $3.32, both beating consensus. AI semiconductor revenue surged 221% year-over-year to $16.7B, accounting for 56% of total revenue. However, Q4 revenue guidance of $34.8B missed estimates of $35.03B, while AI semiconductor guidance of $21.7B beat expectations. Management guided FY2027 AI revenue to double to $115B and FY2028 to $230B.

TREE NEWS update: A two-day symposium on antitrust enforcement to protect businesses was held in Dalian, Liaoning province, on September 2-3. Officials reviewed progress and set next steps, emphasizing the fight against ‘involutionary’ competition to build a unified national market and ensure fair competition.

TREE NEWS reports: Ethereum spot ETFs recorded a net outflow of $48.0764 million on Sept. 2 (EST), the first outflow after 12 consecutive days of inflows. BlackRock’s Staked ETH ETF (ETHB) led with a net inflow of $52.9147 million, bringing its historical total to $758 million. 21Shares’ TETH saw $2.0267 million in inflows, with a historical total of $22.8026 million.

TREE NEWS reports: Bitcoin spot ETFs recorded a net inflow of $101 million on Sept 2, with BlackRock’s IBIT leading at $115 million, bringing its historic total to $63.485 billion. Grayscale’s Bitcoin Mini Trust BTC followed with $30.42 million, raising its historic net inflow to $2.897 billion.

TREE NEWS update: China’s Ministry of Emergency Management and Ministry of Transport have jointly dispatched 40 roadbed boxes and other key road reinforcement equipment from the national regional highway emergency equipment reserve in Changji, Xinjiang, to support Gyirong, Tibet. The move follows an emergency coordination mechanism between the two ministries.

TREE NEWS update: Meta Platforms (META.O) executives Maher Saba and Santosh Janardhan issued an internal memo on Tuesday updating expectations for engineers, stating they will not use AI adoption dashboards or token usage to evaluate employee impact. The memo notes that 93% of code modifications are now assisted by AI agents, but stresses that adopting AI is not an end in itself.