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24/7 News

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8/24
01:26
Samsung Electronics said on Monday that it has moved the production line for its EHS (Eco Heating System) heat pump boilers back to Korea, becoming the first heat pump manufacturer to respond to the Korean government's heating electrification plan aimed at reshoring overseas production. The company began trial production last Wednesday at its newly built 2,132-square-meter production line in the second campus of its Gwangju factory, with plans to start mass production in late September after completing equipment inspections.
01:15
Consumer prices rose 2.2% year-on-year last month, up from 1.9% in June, driven by higher energy prices due to the Iran war. Core inflation, excluding private transport and accommodation, rose 2%, missing the 2.2% forecast. The data comes as Singapore upgraded its full-year 2026 GDP growth forecast to 4.5%-5.5%.
01:05
Keep (03650.HK) announced its interim results for 2026, achieving a total revenue of RMB 825 million in the first half of the year, a year-on-year increase of 0.4%. Net loss for the period was RMB 12.19 million, narrowing by 65.6% year-on-year. Under non-IFRS, adjusted net profit was RMB 5.877 million, a year-on-year decrease of 21.4%. Among these, revenue from self-branded sports products was RMB 483 million, an increase of 21.7% year-on-year, becoming the largest source of revenue. Revenue from online membership and paid content business was approximately RMB 246 million, a year-on-year decrease of 26.9%. The company's overseas revenue exceeded RMB 22 million in the first half of the year, mainly through platforms such as Amazon and TikTok for selling sports equipment. In April, Keep released its sports and health vertical large model, Keepace.ai, and launched over 8,000 AI courses in the first half of the year.
00:54
Bank of America strategist Hartnett stated in a research report published on August 23 that the market is overly optimistic about the midterm elections. He believes that once the Democratic Party wins the Senate, two core narratives—financial deregulation and political support for AI capital expenditure—will simultaneously be impacted. He anticipates a stock market correction of over 10% before the end of the year, accompanied by a weaker dollar and lower bond yields. Hartnett also specifically mentioned the Texas gubernatorial election, considering its outcome a "referendum" on AI infrastructure power costs and affordability policies, which could affect the market's pricing logic for AI hyperscale investments. He suggested hedging risks through put options on financial stocks (XLF) and semiconductor ETFs (SMH), noting that approximately $6 billion has flowed out of semiconductor ETFs in the past three weeks.
00:53
Trade Minister Park Jung-sung stated that tariffs, subsidies, industrial policies, supply chain alliances, and export controls are emerging as key tools for shaping the global trade order.
00:52
The next Bitcoin cycle will be the strongest ever, Strive CEO says, citing Bitcoin's strong performance against the dollar and gold.
00:49
A Hong Kong court has approved Logan Group Co.'s implementation of its debt restructuring plan, more than four years after the company defaulted amid China's property crisis.
00:47
Stablecoin neobank Fasset landed a $1 billion valuation after raising $68 million. The firm's revenue has grown six-fold as stablecoin payments and settlement expand, CEO Mohammad Raafi Hossain told CoinDesk.
00:36
Economists highlight the challenge of translating the country's faster-than-expected economic expansion into better wages and greater financial security for households and small businesses.
00:32
The inflows were supported by a stronger rupiah and expectations that the central bank will maintain interest rates after a 100-basis-point increase this year.
00:22
Due to the conflict in Iran and Houthi attacks, insurance companies have raised insurance prices or restricted coverage for ships and other companies in the region, prompting the Saudi government to consider launching state-backed war insurance to counter rising costs.
00:03
According to an analysis by Nick Timiraos's colleagues Anthony DeBarros and Peter Santilli of former Federal Reserve Governor Kevin Warsh's predictions, Kevin Warsh remained consistently pessimistic about the economy's productive capacity in the years following the financial crisis. Compared to his peers, Kevin Warsh was less inclined to view high unemployment as idle capacity that would suppress prices. By his last few meetings, he believed the economy could not sustainably employ as many people as it once could.
8/23
23:55
Goldman Sachs, in its research report published on August 23, stated that driven by better-than-expected Q2 earnings and an optimistic outlook from equipment suppliers, it has raised its year-over-year growth forecast for global Wafer Fab Equipment (WFE) from 32% to 36% for 2026, from 32% to 45% for 2027, and from 12% to 29% for 2028. Key growth engines include TSMC's N2 process expansion, HBM4 migration, and Intel's recovery, as well as investments in the SpaceX/Tesla Terafab project.
23:50
Zijin Mining Group Co. stated that its full-year copper production target is under pressure due to flooding at a major Congolese mine, which adds to global supply concerns as the metal trades near a record high.
23:49
Alibaba's Southeast Asian e-commerce platform Lazada announced that it will reduce investment in low-quality goods and instead allocate more resources to brand merchants and quality consumers to strengthen its brand e-commerce strategy. This move aims to improve profitability and address the increasingly stratified consumption and structural upgrade potential in the Southeast Asian e-commerce market. Lazada Group President and Singapore CEO, James Dong, pointed out that as of the first half of 2026, nearly 10,000 Tmall merchants have joined its "one-click easy overseas expansion" model, with a single-month transaction volume exceeding 400 million RMB in June this year.
23:49
Andrew Sheets, Head of Global Fixed Income Research at Morgan Stanley, stated in his latest report that despite the US federal debt increasing by $20 trillion over the past decade and surpassing $40 trillion, the continuous improvement in corporate and household balance sheets constitutes a crucial buffer against shocks. The report suggests that the real risk lies in the rebalancing of asset allocation, specifically when bond yields become attractive enough to substantially compete with stocks for investors, a shift that has not yet occurred. The firm is bullish on UK inflation-linked bonds and the Australian dollar, while maintaining a relatively cautious stance on the US dollar.

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