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Real-time News
Sonys stock price rose 2% after the company released its financial report, reversing its earlier decline.July 31st - The Bank of Japan (BOJ) kept interest rates unchanged on Friday, with only one voice supporting a rate hike. Meanwhile, in its monetary policy outlook report, the BOJ lowered its inflation forecast for the current fiscal year. Fridays decision came amid escalating tensions in the Middle East. For oil-dependent Japan, inflation concerns remain. However, the central bank plans to further monitor the situation, especially after the June rate hike. On Thursday, Japan intervened in the foreign exchange market by buying yen and dollars, while US authorities also conducted currency checks. Now, all eyes are on BOJ Governor Kazuo Uedas afternoon press conference, hoping to glean clues about the central banks future policy direction and any commentary on the intervention.Piper Jaffray: Lowered its price target for Reddit (RDDT.O) from $215 to $195.On July 31, at a press conference held today, the China Council for the Promotion of International Trade (CCPIT), representing the Chinese business community, responded to the EUs efforts to accelerate the draft amendments to the Cybersecurity Act and the EUs Industrial Accelerator Act. We urge the EU to fully consider the opinions of the global business community in the subsequent legislative process and to prudently assess the impact of the relevant legislation on Sino-EU business cooperation, the EUs own industrial development, and the stability of the global supply chain. We call on the EU to adhere to the principles of technological neutrality and performance orientation, to delete or substantially modify rules and arrangements that are country-specific or discriminatory, and to effectively safeguard the common interests of existing investments and the common interests of future Sino-EU cooperation. Chinese enterprises are important partners in Europes digital transformation and industrial upgrading. The Chinese business community is willing to continue to strengthen cooperation with the EU to jointly promote cybersecurity governance and green economic development, maintain an open, fair, and non-discriminatory market environment, and jointly ensure the stability and smooth operation of global industrial and supply chains.On July 31, the Bank of Japan (BOJ) kept its policy rate at 1%, in line with expectations. Last month, the bank had already raised its benchmark interest rate to its highest level since 1995. BOJ policy board member Hajime Takada dissented and supported a 25-basis-point rate hike, arguing that the situation had entered a new phase and the BOJ needed to adopt a flexible approach to address upside risks to prices and changes in the overseas financial environment. The BOJ stated that it will continue to raise interest rates based on economic and price developments and financial conditions. Underlying inflation is approaching 2%, financial conditions remain accommodative, and both significant downside risks to economic activity and significant upside risks to prices have decreased. In its latest economic forecasts, the BOJ lowered its core CPI forecast for fiscal year 2026 from 2.8% to 2.5%, while raising its GDP growth forecast for fiscal year 2026 from 0.5% to 0.6%.
