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Real-time News
On June 24, Yang Sheng, a member of the Party Leadership Group and Deputy Director of the National Medical Products Administration (NMPA), led a team to Fujian Province for research. The team visited the Pingtan Cross-Strait Small-Scale Commodity Trading Market and the Fujian Hospital of Huashan Hospital affiliated with Fudan University, and held a symposium to listen to the policy demands and suggestions of medical institutions, Taiwanese-invested enterprises, and provincial and relevant municipal drug regulatory departments regarding the integrated development of cross-strait medicine. Yang Sheng emphasized the need to continue supporting the construction of the cross-strait integrated development demonstration zone, and to study and introduce policy measures to promote the integrated development of cross-strait medicine, so as to better guarantee the publics needs for medicines and medical devices.Market news: A draft report on Japans growth strategy indicates that the government plans to improve the management of its $1.3 trillion foreign exchange reserves.On June 24, the Bank of Korea reiterated its hawkish stance, stating that rising housing prices, expanding household debt, and increased leveraged investment could exacerbate financial imbalances, necessitating further interest rate hikes at an appropriate time. The Bank of Koreas semi-annual Financial Stability Report, released Wednesday, noted that despite increased domestic and international uncertainties, the South Korean financial system remained generally stable thanks to strong economic growth, resilient financial institutions, and sound external payments. However, the report warned that the risk of financial imbalances could further increase as housing prices in Seoul and surrounding areas accelerate and investors become increasingly reliant on leveraged asset purchases. Furthermore, while banks and other financial institutions maintain capital and liquidity buffers, credit risks for vulnerable borrowers and businesses continue to rise. The report stated, "The Bank of Korea will maintain the benchmark interest rate at 2.5% from the second half of 2025, but considering inflationary pressures, economic conditions, and financial stability risks, it believes it is necessary to raise the policy rate at an appropriate time."ASE (ASE): Many customers are following Nvidia (NVDA.O) and AMD (AMD.O) in expanding their investments in Taiwan.On June 24th, according to The Hill, "U.S. Treasury Secretary Scott Bessant called Commerce Secretary Howard Lutnik an idiot to his face during a dispute over a Ukrainian mineral deal." The report noted that the conflict stemmed from preparations for the rare earth metals deal with Ukraine. Lutnik accused Bessant of "sabotaging" the agreement, while Bessant called Lutniks proposal a "shit deal" and called him an "idiot" to his face. On April 30, 2025, the United States and Ukraine signed an agreement on Ukraines natural resources. Under the agreement, the United States has the right of first refusal to purchase minerals mined in Ukraine. The agreement stipulates the establishment of an investment fund in Ukraine, with both parties sharing management and funding responsibilities equally (50% each).
