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Real-time News
On August 28th, during Meituans Q2 earnings call, CEO Wang Xing shared Meituans internationalization progress: "Keeta began trial operations in the Saudi market in September 2024, and achieved profitability in July of this year, taking only 22 months." He also stated that Keeta will focus on operations in existing markets in the second half of this year, paying attention to improving business operational efficiency. Meanwhile, he remains confident in the long-term potential of the Brazilian market.On August 28th, Allianz Chief Advisor El-Erian stated, "Federal Reserve Chairman Warsh is about to deliver his first Jackson Hole keynote address. At this crucial moment, he faces a delicate challenge: how to respond to the highly diverse expectations of the market and various sectors. On one hand, some hope he will continue the tradition of previous Fed chairs, providing forward-looking guidance while elaborating on the current policy response mechanism—how the Fed will make policy decisions in response to economic data and changing circumstances. On the other hand, others hope he will return to the original long-term strategic positioning of this unique meeting. This means focusing more on the increasing and more complex domestic economic and policy issues in the context of profound structural changes driven by technological innovation and geoeconomics. Balancing these two expectations is no easy task. This balance is not only difficult to maintain but also almost certain to satisfy everyone. Meanwhile, policy factors outside the Fed further increase the difficulty of decision-making. However, Warshs speech will undoubtedly provide an important window for the outside world to gain a deeper understanding of the new Fed chairs policy philosophy and leadership style. Personally, I hope his speech will focus more on long-term structural issues, especially given the significant disagreements within the FOMC."On August 28th, the Securities Association of China and the Asset Management Association of China, based on their previous practical experience and research findings, jointly drafted the "Securities Company Trading Information System Access Management Standards (Trial Implementation)". The Standards clarify that securities companies must conduct trading information system access in accordance with laws and regulations, provide system access services prudently, treat system access clients fairly, and refrain from providing differentiated arrangements for technical or business resources to specific access clients. The Standards emphasize the primary responsibility of securities companies for managing external system access, requiring them to conduct comprehensive and thorough management, fully verify investor qualifications, and fully validate relevant system functions. During the access process, securities companies must earnestly fulfill their management responsibilities, strictly adhere to existing securities market trading management regulations, strictly control risks, and ensure that system access remains compliant, secure, and stable at all times.Ukrainian Minister: Gas reserves are sufficient for winter.A Reuters poll of economists on August 28th indicates that the Bank of Canada will keep its benchmark interest rate unchanged at 2.25% next Wednesday and remain on hold for at least the next year. This follows the US suspension of trade negotiations with Canada, but the economists surveyed did not change their expectations. The Bank of Canada has maintained its interest rate unchanged since October of last year. In July, Canadian inflation was already at the upper end of the Bank of Canadas 1% to 3% target range. However, core inflation remained stable, indicating that demand remains weak. Coupled with the anticipated near-term economic recovery, these factors have provided the Bank of Canada with room to pause interest rate hikes. All 35 economists surveyed expect the Bank of Canada to keep interest rates unchanged at the end of its policy meeting on September 2nd, which is in line with market pricing. The Bank of Canada is expected to raise interest rates to 2.50% in the fourth quarter of next year, a forecast consistent with the July survey results.
