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9/13
04:23
Elon Musk forwarded a tweet stating that he is not in favor of "cartels of state capture" and opposes AI that could harm humans. The tweet clarifies that Musk's call for caution to avoid economic damage from unsafe AI models is distinct from advocating for state regulation or capture of AI.
04:05
On the morning of September 13, local time, President Xi Jinping attended the second phase of the 18th BRICS Leaders' Meeting in New Delhi, where he put forward five initiatives for deepening BRICS cooperation: the AI Open Source and Inclusive Initiative, the Trade and Investment Facilitation Initiative, the Digital Industry Cooperation Initiative, the Intelligent Manufacturing Cooperation Initiative, and the Science and Technology Talent Development Initiative. Xi Jinping emphasized that BRICS countries should solidify the foundation of practical cooperation, leverage their advantages of being rooted in emerging markets and connected to the Global South, adhere to open cooperation and mutual benefit, maintain the stability and smooth flow of industrial and supply chains, foster an integrated large market, and build innovation incubators to upgrade traditional industries, develop emerging industries, and plan for future industries, allowing emerging technologies to illuminate the path to common prosperity.
04:01
Many Hong Kong landlords, once known as 'shop kings' for owning numerous properties, have gone bankrupt due to collapsing post-pandemic rents and tighter bank lending. Centaline Commercial reports that shop prices in the city have fallen more than 40% from their 2018 peak, and there are no clear signs of a market turnaround yet.
02:01
PwC is restructuring its India operations, merging its US and India outsourcing and consulting businesses into a joint venture with 40,000 employees to counter the growing threat of AI to the consulting industry.
01:41
The European Central Bank (ECB) was the first to tighten monetary policy last Thursday, marking its second rate hike since the outbreak of the Iran conflict. The Bank of England (BoE) is expected to keep interest rates unchanged in its decision this Thursday, but three officials already supported a rate hike at the July meeting, and with overall inflation in August projected to rise to a five-month high of 3.1%, the possibility of a shift to rate hikes as early as November cannot be ignored.
01:21
South Korean Industry Minister Kim Jung-kwan returned Sunday from three days of talks in New York, where he met US Commerce Secretary Howard Lutnick and other officials to discuss prospective projects, investment amounts, and terms under a major US investment program.
01:10
Lotte Group and KAIST have jointly opened a new research and development center, bolstering their industry-to-academia ties while ramping up capabilities for securing next-generation technology. Leaders from both sides, including Lotte Group Chairman Shin Dong-bin and KAIST President Bae Choong-sik, attended the completion ceremony of the Lotte X KAIST R&D Center at KAIST’s campus in Daejeon on Friday.
01:10
HD Hyundai and five of its subsidiaries—HD Korea Shipbuilding & Offshore Engineering, HD Hyundai Heavy Industries, HD Hyundai Samho, HD Hyundai Ocean Service, and HD Hyundai Electric—will jointly operate a booth, focusing on technologies such as LNG carriers, floating storage and regasification units (FSRUs), and liquefied CO2 carriers. Gastech 2026, the world's largest gas exhibition, will be held next Monday to Thursday in Bangkok, Thailand.
00:59
South Korean government officials and industry experts stated at the "Jeollanam-do-Gwangju Integrated Special City Semiconductor and AI Transformation Global Forum" that the country plans to establish major semiconductor production bases in the southwest, and its success will depend on the timely availability of electricity, water, permits, talent, and a supplier network to support future corporate investments.
00:53
Djibouti's Minister of Economy and Finance stated that approximately 1,400 Yemeni refugees arrived in Obock, Djibouti, within 24 hours as Houthi forces tightened their control over the Bab al-Mandab Strait. The International Organization for Migration (IOM) previously warned that at least 46,000 people have been displaced in Yemen since the escalation of fighting last week.
00:40
The Financial Times reports that non-digital products and activities such as diaries, Sudoku, puzzle books, as well as pens, Warhammer, and film cameras, are making a comeback, seen as part of an "anti-AI portfolio" trend.
9/12
23:04
Citigroup Research analysts Alex Saunders and Vinh Vo noted in their quantitative macro strategy report published on September 11 that although their macro model remains broadly in the "normal" range, strengthening inflation momentum, a modest decline in economic surprise indices, and a slight tightening of financial conditions have significantly increased the similarity between the current macro environment and the Federal Reserve's tightening cycle from 1988 to 1989. During that period, the Federal Reserve raised interest rates 16 times, with the federal funds rate target ultimately increasing to 9.8125%.

The report suggests that the current macro state exhibits symptoms of an "overheated economy," where both growth and inflation indicators are slightly above their long-term averages. At the asset allocation level, the model further increased its overweight allocation to equities to 4.0%, favoring emerging markets and U.S. equities, and shorting European, Japanese, and UK equities. In bonds, the model overweights Japanese and UK duration and maximizes short positions in U.S. Treasuries. For commodities, energy is currently the strongest expected performing asset, with the model heavily overweighting energy. In foreign exchange, the U.S. dollar replaced the Japanese yen as the preferred currency, due to waning market enthusiasm for the yen and comments from U.S. Treasury Secretary Scott Bessent regarding Japanese intervention.
22:21
Foreign investors became net sellers of South Korean bonds in August for the first time in about 3 1/2 years, offloading a net 839.7 billion won ($624.8 million), according to industry data released Sunday. This marks their first monthly net selling since January 2023, attributed to a decline in the yield advantage from currency-hedged investments.

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