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Real-time News
LG Electronics: Second-quarter results included a one-off gain of approximately 300 billion won, including a U.S. tariff refund.On July 30, it was reported that on July 24, the CPC Central Committee held a symposium with non-CPC members at Zhongnanhai to solicit opinions and suggestions from leaders of various democratic parties, the All-China Federation of Industry and Commerce, and representatives of non-party figures on the current economic situation and economic work for the second half of the year. Xi Jinping, General Secretary of the CPC Central Committee, presided over the symposium and delivered an important speech, emphasizing that to do a good job in economic work in the second half of the year, it is necessary to adhere to the general principle of seeking progress while maintaining stability, fully and accurately implement the new development philosophy, accelerate the construction of a new development pattern, better coordinate domestic and international affairs, coordinate development and security, persist in deepening reform and opening up, accelerate the transformation of old and new growth drivers, implement a more proactive fiscal policy and a moderately loose monetary policy, give full play to the effectiveness of existing policies, promptly plan and introduce practical and effective incremental policies, increase counter-cyclical adjustments, vigorously expand domestic demand and optimize supply, effectively guarantee and improve peoples livelihoods, enhance development momentum and stimulate social vitality, promote sustained and positive economic development, and strive to achieve a good start to the 15th Five-Year Plan.On July 30th, Deutsche Bank pointed out that the Federal Reserves decision to keep interest rates unchanged and the limited details provided by Chairman Warsh triggered a sharp steepening of the US Treasury yield curve, pushing the 30-year yield up to 5.20% and putting pressure on the stock market. The S&P 500 recorded its worst single-day performance in seven weeks, while weakness in technology stocks dragged the Nasdaq 100 into correction territory. Asian and European stock markets showed mixed performance. The rise in US Treasury yields ultimately put pressure on the stock market after experiencing significant intraday volatility. The S&P 500 fell more than 0.5% ahead of the FOMC meeting, turned positive during Warshs press conference, but fell sharply in the last trading hour, ultimately closing down 1.52%. A renewed plunge in chip stocks also dragged down the market, with the Philadelphia Semiconductor Index plummeting 5.33%. The decline in technology stocks also pushed the Nasdaq 100 (-2.06%) into technical correction territory, currently down 11.3% from its early June peak.BMW CEO: We do not plan to significantly reduce our product portfolio, but are considering model derivatives and configurations.July 30th - The Bank of England will announce its interest rate decision tonight at 19:00. The market expects it to maintain interest rates unchanged for the fifth consecutive time, with 2-3 members potentially dissenting and signaling quantitative tightening in advance. Will this break the widespread expectation of keeping rates unchanged throughout the year? In addition, the US June PCE and preliminary Q2 GDP figures will be released at 20:30. As the first data releases after the Feds July decision, will they provide some direction for interest rates in a market navigating in the dark? Click to see more…
