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Real-time News
On September 3, Japanese trading company stocks rose on Thursday after Berkshire Hathaway CEO Greg Abel stated that the company plans to continue holding its stakes in these companies for decades to come. Trading company stocks were among the top-performing sectors in the TOPIX index on Thursday. Mitsubishi Corporation rose as much as 4.5%, its highest level since May; Sumitomo Corporation, Mitsui & Co., Itochu Corporation, and Marubeni all rose more than 2.5%. Berkshire currently holds approximately 10% stakes in each of these five trading companies. Abel, who succeeded Warren Buffett as CEO in January, told CNBC on Wednesday that Berkshires holdings in Japanese trading companies are a "long-term investment" and that the company plans to hold them for decades. Since Berkshire disclosed its holdings in 2020, the share prices of these Japanese trading companies have benefited from their association with Buffett. Market analysts at Tokai Tokyo Information Lab stated that Abels renewed confidence "could reignite investor interest in trading company stocks."According to Hong Kong Stock Exchange documents, Shenzhen Eurotax Holdings Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.On September 3rd, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1420%, and the lowest was 0.7020%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.1420%, and the lowest was 0.8690%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0680%, and the lowest was 0.8630%.On September 3rd, South Koreas KOSPI index rose over 1%, rebounding from a two-week low, with chip stocks following overnight gains in their US counterparts. Wall Street stocks rose overnight on Wednesday, partially recovering after three consecutive days of declines. Amid recent risk aversion, investors are seeking out previously oversold stocks and sectors. Broadcom on Wednesday projected strong growth in AI chip sales over the next two years, providing further evidence that demand for AI infrastructure from large tech companies remains robust. Meanwhile, investors are closely assessing the returns on their massive AI investments. Of the 907 stocks traded on the KOSPI, 568 rose and 304 fell. Foreign investors were net sellers of South Korean stocks worth 210.3 billion won (approximately US$155.1 million).September 3rd - RatingDog Chinas services PMI for August was 51.4, up 1.0 percentage point from July, marking the 44th consecutive month in expansion territory, with a slight increase in the pace of expansion. Demand-side growth improved. New business volume increased for the 44th consecutive month, with the growth rate accelerating compared to July. New export business continued to expand for the fourth consecutive month, although the growth rate slowed further from the years high in June. Business expectations for the next 12 months rebounded from the recent low in July. Cost pressures rose slightly, while employment continued to expand. Input price increases rebounded slightly from the six-month low in July, but remained moderate overall. Sales prices rose slightly for the third consecutive month. Employment size rebounded for the fourth consecutive month, marking the longest consecutive growth period since 2023. Overall, the service sector expansion rate in August rebounded slightly from July, with faster growth in business activity and new orders, continued employment expansion, and improved business confidence.
