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On March 13th, Apple announced adjustments to its App Store commission policy in mainland China. More importantly, Apple pledged to consistently provide Chinese developers with competitive commission rates no higher than those in other markets. Why did Apple lower its "Apple tax"? Apple's official statement revealed a key piece of information: the adjustment was made "based on communication with Chinese regulatory authorities." Considering the magnitude and attitude of Apple's adjustment, it's easy to infer that Chinese regulatory authorities have effectively exerted pressure on Apple. In fact, the "Apple tax" is being reduced globally. In recent years, countless developers, regulatory agencies, user groups, and even governments have challenged Apple's high commission rates. According to incomplete statistics, Apple has been sued, investigated, reported, and legally banned in at least 10 countries and regions worldwide due to allegations of monopolistic practices related to the App Store. Under anti-monopoly regulatory pressure, Apple has already lowered commissions in several countries and regions. This reduction in commissions for the Chinese App Store, "based on communication with Chinese regulatory authorities," not only improves the treatment of Chinese developers but also reflects the continuous improvement of digital market rules and the enhancement of regulatory authority in the process of deepening the normalization of anti-monopoly supervision.

The yield on five-year Japanese government bonds rose 4.0 basis points to 1.665%. The yield on 20-year Japanese government bonds rose 3.0 basis points to 3.090%.

Futures News, March 13th: Economies.com analysts' latest view: Spot gold continued to rise in the latest intraday trading, benefiting from the stability of the key support level of $5100, providing positive momentum for its attempt to recover some of its previous losses. At the same time, prices are attempting to alleviate the oversold conditions indicated by the Relative Strength Index (RSI). Nevertheless, gold still faces downward pressure after breaking through the short-term uptrend line. Furthermore, the continued trading below the EMA50 is also creating dynamic pressure, which may limit the possibility of a full recovery for gold in the short term.

March 13th - Hong Kong stocks opened slightly lower again, after a brief surge to turn positive. At midday close, the Hang Seng Index was down 0.48%, and the Hang Seng Tech Index was down 0.41%. Most large-cap tech stocks rallied, with Alibaba (09988.HK), Meituan (03690.HK), and JD.com (09618.HK) all rising over 1%. Energy stocks, affected by supply disruptions in the Middle East, remained active, fertilizer stocks rose, building materials and cement stocks generally increased, and telecommunications and high-speed rail infrastructure stocks saw some recovery. However, airline stocks continued their decline, while gold, shipping, and semiconductor stocks generally fell.

On March 13, Maybank (Thailand) analyst Chak Reungsinpinya wrote in a research report that rising oil prices could benefit Thailand's energy sector and lead to higher refining margins. The analyst stated, "The disruption to energy flows caused by the Iranian war is unprecedented." Even if the Middle East conflict is resolved within weeks rather than months, energy prices are likely to remain high. The bank upgraded its rating on Thailand's energy sector from "neutral" to "positive."

Bank of America Global Research expects the Bank of England to cut interest rates by 25 basis points each in June and September 2026, compared with previous forecasts of cuts in March and June.

On March 13th, it was learned from the State Administration for Market Regulation that in 2025, over 500 million online verifications of products subject to mandatory product certification (CCC certification) were conducted on e-commerce platforms, intercepting over 27 million instances of uncertified product information, thus demonstrating the crucial role of mandatory certification in ensuring basic safety. Mandatory product certification (CCC certification), green product certification, organic product certification, and other quality certification methods safeguard and optimize the consumer environment. It was reported that by the end of 2025, my country had issued over 4.38 million valid certification certificates to over 1.15 million organizations, providing a guarantee for creating a safe, high-quality, and reliable consumer environment.

Japanese Minister of Economy, Trade and Industry Ryosuke Akazawa: I believe a reasonable oil price should be at the level before the Iran war.

Japanese Minister of Economy, Trade and Industry Ryomasa Akazawa: Discussions will continue regarding Japan's quota and implementation schedule in the International Energy Agency-led coordinated oil reserve release program.

March 13 – Abu Dhabi National Oil Company (ADNOC) has cut crude oil shipments from its onshore partners by about one-fifth this month, even though the oil will still be transported to a port outside the nearly closed Strait of Hormuz. Sources familiar with the matter said the state-owned oil producer has notified its equity partners that they are only allowed to load 80% of their remaining Murban crude quotas in March. The sources did not disclose the specific reasons but indicated that cargoes of the UAE's flagship Murban crude can still be picked up from the port of Fujairah. Previously, ADNOC had stated that these cargoes would need to be picked up from the port of Jabel Dana in the Persian Gulf, meaning they would need to cross the Strait of Hormuz. ADNOC's move comes as the Middle East conflict enters its second week, following several cases of Asian refiners being unable to pick up their March shipments. Traders familiar with the situation said some buyers' Middle East orders have been cancelled due to a lack of shipping options.

On March 13th, according to Tianyancha's risk information platform, on March 12th, Evergrande Group Co., Ltd., Xinjiang Guanghui Industrial Investment (Group) Co., Ltd., and others added a new resumption of enforcement information, with an enforcement target of over 2.12 billion yuan. The executing court is the Guangzhou Intermediate People's Court of Guangdong Province. Evergrande Group Co., Ltd. was established in January 2014, with Han Xue as its legal representative and a registered capital of 53 billion yuan. Shareholder information shows that the company is wholly owned by Guangzhou Kailong Real Estate Co., Ltd. Tianyancha's risk information shows that the company currently has more than 30 enforcement records, with a total enforcement amount exceeding 5 billion yuan. In addition, the company also has multiple records of being a dishonest judgment debtor (laolai) and cases that have been terminated due to lack of assets.

Japanese Economy, Trade and Industry Minister Ryomasa Akazawa: Japanese companies are seeking alternative sources of crude oil, including the United States, Central Asia, and South America.

On March 13, Japanese Finance Minister Satsuki Katayama told reporters that the government is prepared to take all necessary measures regarding foreign exchange under any circumstances and is constantly monitoring the impact of rising oil prices on people's daily lives. Katayama stated that it is evident that financial markets (including foreign exchange) are experiencing significant fluctuations in response to developments in the Middle East. She declined to comment on specific exchange rate levels. When asked whether it would be difficult to intervene in foreign exchange given the current situation where the yen's depreciation is driven by soaring oil prices, Katayama said she should avoid commenting. She also stated that Japanese authorities are maintaining very close communication with US authorities, even closer than usual.

March 13th - The State Administration for Market Regulation announced today that in 2025, market regulators handled 22 monopoly cases, imposing fines and confiscations totaling 653 million yuan. Focusing on key drugs such as those in short supply, emergency medications, and commonly used drugs, market regulators vigorously promoted the investigation and handling of major monopoly cases in the pharmaceutical field. They investigated and prosecuted a monopoly case involving neostigmine methyl sulfate injection, imposing fines and confiscations of 223 million yuan; and investigated a monopoly agreement case involving dexamethasone sodium phosphate raw materials, imposing fines and confiscations of 362 million yuan. The organizers were fined the maximum penalty of 5 million yuan, and related companies were fined 8% of their previous year's sales revenue, leading to a price reduction of nearly 94% for related drugs.

On March 13th, Apple announced a reduction in App Store commission fees. Experts stated that for domestic developers, this adjustment only involves a lower rate and does not require renegotiating agreements with Apple, reducing the impact of Apple's App Store commission policy changes on developers and increasing market stability. Furthermore, this rate adjustment will effectively reduce expenses for Chinese developers by over 6 billion yuan annually, effectively improving overall profitability and promoting sustainable business development. From a consumer welfare perspective, this adjustment will drive the prices of related goods and services back to a reasonable range, improve consumer choice and information transparency, and achieve quantifiable welfare improvements. The premium on digital goods and services on iOS will gradually be eliminated, and prices for subscriptions, game top-ups, live streaming rewards, and mini-programs are expected to decrease, potentially saving consumers up to nearly 1 billion yuan annually.

On March 13th, Matthias Scheiber, Senior Portfolio Manager at Allspring Global Investments, stated that the Federal Reserve is likely to keep interest rates unchanged next week. In a report, Scheiber said, "We believe there is a high probability that the Fed will not cut rates at all, but if energy prices continue to rise, we expect a negative ripple effect on consumer and business confidence." Scheiber noted that before the Middle East conflict, the US economy was projected to achieve approximately 2.5% real GDP growth. Considering the possibility of further fiscal stimulus and government debt to support the private sector before the midterm elections, Scheiber believes the Fed is willing to view the surge in energy prices as a temporary phenomenon and focus on economic growth.

A Taliban spokesman in Afghanistan said Pakistan had bombed Kabul, Kandahar and other areas.

On March 13th, the overnight SHIBOR was 1.3210%, down 1.60 basis points; the 7-day SHIBOR was 1.4570%, down 0.80 basis points; the 14-day SHIBOR was 1.4950%, down 0.60 basis points; the 1-month SHIBOR was 1.5330%, down 0.20 basis points; and the 3-month SHIBOR was 1.5420%, down 0.40 basis points.

Pakistani security sources have confirmed the airstrikes in Afghanistan.