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Real-time News
On August 26th, Tang Daosheng, Senior Executive Vice President of Tencent Group and CEO of the Cloud and Smart Industries Group, published an article in Tencents internal publication addressing external criticisms that "Tencent is slow in its AI development." He responded that its impossible not to feel anxious. "The Hunyuan large-scale model has undergone multiple reconstructions. Hunyuan Hy3 performs exceptionally well among large models with similar parameters, but due to the companys overall insufficient computing power, model training and product development have been slowed down, resulting in significant impacts." Tang Daosheng stated that getting started early may not be the most crucial factor; the second half of the AI era has only just begun. Only by persevering can one seize the continuously emerging new opportunities.On August 26, European Central Bank Executive Board member Schnabel stated that the protracted Middle East conflict, coupled with unexpectedly strong Eurozone economic performance, poses upside risks to inflation, necessitating further interest rate hikes. Consumer price increases could exceed 2% for an "extended period," and policymakers will be behind the curve if action is delayed until these effects are transmitted to wages. She stated, "At current interest rates, inflation is unlikely to return to the target level in the medium term, thus requiring further policy tightening. Especially given the current resilient aggregate demand, preventing a second round of effects early is crucial, as acting too late may require more aggressive tightening measures." She pointed out that fiscal policy, increased defense spending, and the global AI boom are key drivers of strong economic growth. Schnabel warned that energy price pressures, excluding oil, are becoming more persistent. Given low European gas inventory levels, the gas market is particularly worrying, "posing a substantial upside risk to inflation. The longer the conflict lasts, the greater the risk and intensity of indirect and second-round effects."Tibo, Product Manager at OpenAI Codex: Good products take time. At least 34 days.ANZ Bank now expects the Reserve Bank of Australia to raise interest rates by 25 basis points in November.August 26th - As markets closely watch for clues about the timing of the Bank of Japans next interest rate hike, BOJ watchers will be closely monitoring Deputy Governor Ryozo Himinos speech on Thursday. SMBC Nikko Securities strategist Ataru Okumura stated, "While there are limitations to how much a single speech by a BOJ deputy governor can guide market expectations, the focus will be on how firm his wording is on controlling inflation." Okumura added that although the bond market firmly expects the BOJ to raise rates sooner rather than later, investors doubt the banks ability to push rates above the restrictive level of 2%, making the future path of interest rates a key focus for the market.
