Flash News

TREE NEWS reports: Goldman Sachs now expects the Federal Reserve to raise interest rates by 25 basis points at its September policy meeting, reversing its earlier forecast for rates to stay unchanged. The bank said the shift was driven less by the economic outlook than by financial-market pricing, with investors now broadly expecting a hike.

TREE NEWS reports: Reserve Bank of Australia Assistant Governor Hunter said Australian inflation remains above the target level, with risks skewed to the upside. Household spending is holding up reasonably well and business investment is showing strong signs, while the regional housing market is proving more resilient than major cities. Hunter also flagged concern over the upward trend in fuel prices.

TREE NEWS update: Japan’s Chief Cabinet Secretary Minoru Kihara said the government will appropriately control the scale of debt issuance when compiling the budget. The statement was made as Tokyo prepares its fiscal spending plan.

TREE NEWS reports: Japan’s Nikkei 225 closed the morning session down 0.8%, while the broader Topix index fell 0.7% at the morning close in Tokyo. The declines marked a weaker first half of trading for Japanese equities.

TREE NEWS update: China’s National Health Commission will keep advancing integrated childcare and preschool development, supporting communities and employers to set up childcare institutions so residents can access services nearby and at relatively affordable prices, its director Lei Haichao said at a State Council Information Office briefing. The aim is to raise enrollment rates and effectively cut the cost of childbearing, rearing and education for families.

TREE NEWS reports: Citi Research analysts Alex Saunders and Vinh Vo said in a Sept. 11 report that the current macro backdrop increasingly resembles the 1988-89 tightening cycle, when the Fed raised rates 16 times. Their model stays in the “Normal” regime but flags rising inflation momentum and firmer financial conditions, prompting a higher equity overweight and long emerging-market and US stocks, energy commodities and the dollar.

TREE NEWS reports: China’s battery-grade lithium carbonate mid-price fell 750 yuan to 134,250 yuan per ton in early trading. The MMLC benchmark was down from the 16:30 price on the previous day.

TREE NEWS update: China’s notice on cross-border centralized cash management for multinational companies took effect on the 14th, extending a pilot policy on domestic and foreign currency cross-border cash pooling to the whole country. Companies may now set their own consolidation ratios and use a single account to manage both local and foreign currency funds, with a preference for settling business in renminbi.

TREE NEWS reports: China’s Wind All-A index reversed early losses to turn positive, a move that signals a broad recovery in mainland Chinese equities. The index, which tracks all A-shares listed on the Shanghai and Shenzhen exchanges, had been trading lower before the turnaround. No further details were provided.

TREE NEWS update: GAC Group suspended trading for the full day on September 14, citing an undisclosed material matter. A company staffer said the halt was called urgently that morning because an important announcement will be released after market close, with timing still undecided and the content not yet disclosed. GAC did not respond to questions about weekend speculation of a shareholding tie-up or strategic restructuring with FAW.

TREE NEWS reports: The Philippine peso weakened to 62.822 per US dollar, a record low. The move marks the weakest level on record for the currency against the greenback.

TREE NEWS reports: China’s National Bureau of Statistics said 37 of 50 key production materials tracked across nine categories rose in price in early September versus late August, with nine falling and four unchanged. Liquefied natural gas rose 5.6% to 6,044.0 yuan per tonne, while live hogs (Wai San Yuan breed) gained 0.9% to 11.0 yuan per kilogram, the NBS said.

TREE NEWS reports: The CSI Convertible Bond Index opened down 0.19%, with ZX, Benchuan, Haoyuan, XD Huamao and Weidao convertibles leading losses at 6.66%, 2.88%, 2.84%, 2.55% and 2.23% respectively. On the upside, Fuxin, Shengxun, Shenyu, Lvyin and Shanshi convertibles led gains at 6.17%, 3.50%, 2.80%, 1.86% and 1.19%.

TREE NEWS reports: China’s treasury futures opened mixed on the latest trading session. The 30-year main contract fell 0.06%, while the 10-year main contract edged up 0.01%. The 5-year and 2-year main contracts were both flat at 0.00%.

TREE NEWS reports: China’s major stock indices opened lower on the day, with the Shanghai Composite down 0.54% at 3867.02. The Shenzhen Component fell 1.03% to 13333.07 and the ChiNext Index dropped 1.29% to 3279.31. The CSI 300 opened 0.78% lower at 4474.95, while the STAR 50 slid 1.71% to 1526.80.

TREE NEWS update: China’s Commerce Minister Wang Wentao met Indian Commerce and Industry Minister Piyush Goyal in New Delhi on September 12. Wang said China is ready to work with India to implement the consensus reached by the two countries’ leaders, expand mutually beneficial economic and trade cooperation and balance each other’s concerns. Goyal said India attaches high importance to ties with China and both sides should strengthen exchanges and cooperation.

TREE NEWS update: The People’s Bank of China conducted zero 7-day reverse repo operations in the open market and carried out 504 billion yuan of overnight reverse repos. Five billion yuan of reverse repos matured on the same day. The operation marks a shift toward overnight liquidity injection by the central bank.

TREE NEWS reports: Hong Kong’s Hang Seng Index opened 0.42% lower at 24,701.18 on Monday, with the Hang Seng Tech Index down 0.69%. AI names led the declines, as Zhipu and MINIMAX each dropped more than 5%, while Tianshu Zhixin and Hua Hong fell over 2%.

TREE NEWS reports: The MSCI Asia-Pacific Index dropped 1% to 274.89, extending a decline across the region’s equities. The move reflects broad-based selling in Asian markets, with the benchmark giving up ground as of the latest reading.

TREE NEWS reports: The People’s Bank of China set the yuan’s central parity rate at 6.7698 per dollar, 45 pips stronger than the previous fixing of 6.7743 and the strongest level since February 3, 2023. The prior official close stood at 6.7096, with the overnight session ending at 6.7079.