EUR/USD
1.16845
0.057%
Gold
4513.68
-0.120%
Oil
85.917
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USD/JPY
159.081
0.019%
GBP/USD
1.36390
0.067%
GBP/JPY
216.976
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Real-time News
August 21 – S&P Global Market Intelligences Deputy Director of Economics stated that Japans private sector continued its strong performance in August, with companies reporting the fastest output growth since February. Growth momentum improved in both manufacturing and services, with manufacturing performing particularly well, showing significant growth in both output and new orders. Furthermore, new export orders in the manufacturing sector recorded their fastest growth in eight and a half years, and the semiconductor and AI-related industries had a substantial backlog of new business. Easing cost pressures in August are a positive sign for Japanese companies. Although input costs still rose sharply due to the impact of the Middle East war on supply chains and energy prices, as well as the weak yen, the overall cost inflation rate has fallen to its lowest level in five months. However, with output price increases still near historical highs, companies may need to see a sustained slowdown in inflation before further reducing product prices. With improved business confidence compared to the previous month, strong sales growth, and continued employment increases, Japans private sector is expected to continue its strong performance, provided that it is not subjected to further shocks in terms of prices or demand.Musk: Reports that SpaceX is seeking to acquire Spectrum at a $6 billion valuation are untrue.August 21st - Promoting the "long-term investment" of pension funds is both important and urgent. Pension funds correspond to payment needs decades into the future and, theoretically, can withstand higher equity volatility and obtain long-term equity premiums. The key is to "change the benchmark." Accelerate the improvement of long-term performance evaluation mechanisms, incorporating cross-cycle returns and risk control into the evaluation system. Improve relevant supporting measures. Steadily expand investment scale and channels. Continuously promote the expansion of pension fund investment scale in various regions, scientifically optimize asset structure while strictly adhering to the upper limit of equity investment ratio, and strive to improve the level of equity asset allocation, especially increasing investment in national strategic emerging industries. Guide pension funds to actively participate in listed company governance and private placements, promote the improvement of dividend mechanisms, and deeply share the benefits of real economy growth.On August 21st, Galaxy Securities research report stated that the front-end and back-end network architecture of AI-era computing clusters is driving significant demand for switches. 1.6T port switches are expected to see mass production starting in 2027, with WAIC 2026 supernodes playing a leading role. Rapid evolution of internal interconnect bandwidth means that each iteration of port speed increases the value of a single switch, supporting profitability. Simultaneously, the latency requirements of scale-up switches have been reduced from μs to hundreds of ns, making design more difficult and time-consuming than traditional products. This gives existing players continued bargaining power, accelerating the domestic substitution of key components in the industry chain—switch chips. Coupled with the positive performance of overseas switch leaders, the report recommends focusing on leading domestic switch and switch chip companies.The Nikkei 225 index opened down 639.56 points, or 0.97%, at 65,577.23 on Friday, August 21.
