Real-time News

The China Earthquake Networks Center officially reported that a magnitude 3.0 earthquake struck Hejing County, Bayingolin Mongol Autonomous Prefecture, Xinjiang, at 12:40 PM on September 3, with a focal depth of 20 kilometers.

Market news: Uber (UBER.N) plans to lay off about 10% of its global workforce, and the company says that only about 1% of its employees will work remotely in the future.

Barclays raised its price target for Snowflake (SNOW.N) from $332 to $384.

New York gold futures rose 1.00% on the day, currently trading at $4,478.80 per ounce.

Audi China: The first model developed by the Audi SAIC Innovation Center is planned to be launched in 2028.

September 3rd - The Governor of the Bank of Thailand stated on Thursday that the central bank supports a proposal to tax gold transactions. A 0.01% gold tax would not harm the industry's interests. The central bank plans to take further measures to curb illicit capital flows.

September 3rd - Since the beginning of this year, various regions have carried out in-depth special campaigns to protect businesses from monopoly enforcement, focusing on strengthening anti-monopoly supervision and enforcement in areas such as the platform economy, raw materials for pharmaceuticals, public utilities, and people's livelihoods, achieving phased progress and results. The State Administration for Market Regulation will continue to advance the special campaigns to protect businesses from monopoly enforcement, closely focusing on accelerating the construction of a unified national market, thoroughly rectifying "involutionary" competition, adhering to the principle of giving equal importance to standardized supervision and promoting development, safeguarding the high-quality development of enterprises, and maintaining a fair and competitive market order.

Bank of Thailand Governor: Supports any gold tax policy.

September 3rd - Demand for Japan's 30-year government bond auction on Thursday was stronger than the average of the past 12 months, with higher yields supporting investor buying. The bid-to-cover ratio for this auction was 3.79, lower than the previous auction's 3.86, but higher than the 12-month average of 3.52. The tail spread was 0.28, higher than last month's 0.21. Following the auction results, Japanese government bond futures maintained their gains. This auction came amid a global sell-off in government bonds, with rising oil prices exacerbating inflation concerns and pushing investors to increase their expectations for interest rate hikes. Overnight index swaps are now fully priced in the Bank of Japan's expected rate hike on September 18th. Hajime Takada, a hawkish member of the Bank of Japan board, has previously expressed openness to both significant and consecutive rate hikes.

On September 3, Xu Xin, Deputy District Mayor of Pudong New Area, Shanghai, stated at a press conference held by the Shanghai Municipal Government that the city will accelerate the opening up of service trade and actively create a national digital trade demonstration zone. The city will also deepen the comprehensive pilot program for expanding the opening up of the service sector and promote the opening up of key areas such as finance, healthcare, culture and education, and professional services.

On September 3rd, The Information reported that Meta Platforms (META.O) executives Maher Saba and Santosh Janardhan released an internal memo on Tuesday updating the company's expectations of engineers and explicitly stating that "AI adoption dashboards or token usage will not be used to assess employee impact." The memo noted that currently 93% of code changes are assisted by AI agents, but added that adopting AI "is not the ultimate goal in itself."

On September 3, Su Yun, Deputy Director of the Shanghai Headquarters of the People's Bank of China (PBOC), stated at a press conference held by the Shanghai Municipal Government that regarding the "pilot program for more flexible trade foreign exchange settlement," the PBOC Shanghai Headquarters has extensively surveyed and incorporated the trade foreign exchange settlement needs of enterprises, established a multi-departmental collaborative working mechanism, revised and improved supporting systems for the pilot program, supported foreign exchange settlement for new trade models, and helped enterprises coordinate both domestic and international markets. Recently, the PBOC Shanghai Headquarters has strengthened collaboration with relevant departments to accelerate the implementation of the pilot policy.

On September 3rd, the topic of "WeChat single-deletion notification" became a trending topic and sparked heated discussion. Tencent customer service responded that when your contact list reaches its limit, a pop-up window will appear displaying partial contact information as you continue adding friends, helping you determine if you need to delete certain contacts. "However, it should be noted that WeChat currently does not support batch viewing of contacts that have already been deleted; you can only manually select and delete them from the list displayed in the pop-up window."

September 3 – Escalating hostilities between the United States and Iran have fueled market concerns about potential long-term disruptions to energy transport through the Strait of Hormuz, pushing Asian liquefied natural gas (LNG) prices to their highest level in over three years. Traders said spot LNG prices rose to $25.908 per million British thermal units (MMBtu) on Wednesday evening, the highest level since December 2022. Prices have more than doubled from pre-war levels, and high energy costs are putting pressure on demand and fiscal budgets in parts of Asia. This follows several weeks of relative calm in the Middle East, but LNG prices have risen by more than 5% this week following the outbreak of renewed fighting.

CEO of Sberbank: Russia's accelerating inflation is mainly due to the loss of oil refining capacity.

CEO of Sberbank: Russian consumption is beginning to decline, which is worrying.

On September 3, Yang Xuedong, Director of the Sports Economy Department of the State General Administration of Sport, stated at a press conference held by the State Council Information Office that the focus will be on "science and technology innovation" to cultivate new growth points for the industry. Seizing the historical opportunities presented by the new round of technological revolution and industrial transformation, the government will improve the level of independent research and development and technological innovation in sports equipment manufacturing enterprises, accelerate the application of new technologies such as big data and artificial intelligence in the sports field, cultivate and expand new business models such as online sports live streaming, online training, virtual sports, and smart operations, and create more new models and scenarios for sports consumption through the innovative application of digital technologies. This will upgrade sports services from "standardization" to "personalization," meet the new demands of mass sports consumption, and give wings to the development of the sports industry through technology.

September 3 – The China-Shanghai Cooperation Organization (SCO) Port Economic Cooperation Center was officially inaugurated in Tianjin today. The center focuses on three main areas: port clearance innovation, maritime facilitation cooperation, and port and shipping industry clustering. It aims to further improve the efficiency and intelligence of customs clearance supervision for agricultural and food products from SCO member states; provide 24/7 policy consultation, approval guidance, assistance, and coordination services for ships traveling to and from SCO member states; and promote the internationalization of port and shipping infrastructure and operational management technologies, attracting a number of projects to the Tianjin Binhai New Area Port and Shipping Industry Cluster.