News

The Society of Motor Manufacturers and Traders (SMMT) reported that new car registrations in the UK rose by about 13% year-on-year in August, reaching over 90,000 vehicles.

The NI225 index broke through 65,000 points, rising 1.22% intraday.

JPMorgan Chase: Expects the European Central Bank to raise interest rates by another 25 basis points in December 2026.

According to the Financial Times, Norway's Petroleum Fund, the world's largest sovereign wealth fund, may reduce its holdings of US Treasury bonds by approximately $80 billion.

According to the Financial Times, oil producer Sable Offshore is one of the few companies that is in advanced talks with the Venezuelan government to develop oil fields and is close to signing a contract.

According to the Financial Times, U.S. Trade Representative Greer stated that coordination between the UK and the EU poses an "obstacle" to a U.S.-UK trade agreement.

According to a Russian automotive market analysis agency, Russian car sales fell 6.5% year-on-year in August to 114,285 vehicles.

BNP Paribas: Expects the European Central Bank to raise interest rates by another 25 basis points in December 2026.

Musk: Tesla's (TSLA.O) Cybercab uses an electric braking system that avoids the complexity of hydraulic systems: there is no need to run pipes all over the vehicle; the Cybercab's motor does not use rare earth metals, but its range is similar to other top-performance electric vehicles, which is extremely difficult to achieve.

Retired South Korean Lieutenant General Chun In-bum, former commander of the Special Forces, stated that South Korea's deployment of forces in the Strait of Hormuz is in its national interest. He emphasized the importance of ensuring the strait remains open to the public, as South Korea has significant economic interests tied to this waterway. Given the "asymmetric relationship" between South Korea and the United States, proactive action is more advantageous for South Korea. Under South Korean law, the deployment of military forces overseas requires approval from the National Assembly. If approved, this mission could mark South Korea's first maritime military deployment outside the Korean Peninsula since the deployment of the "Cheonhae Unit" to the Gulf of Aden in March 2009 for anti-piracy operations.

NI225 rose by 1.00% during the day.

According to Nikkei, Suzuki's Indian subsidiary, Maruti Suzuki, will invest 775 billion rupees (approximately 1.3 trillion yen) over the next five years. By expanding its production facilities, it aims to increase production capacity to 4 million vehicles per year by the early 2030s. The funds will also be used to develop new models, including electric vehicles (EVs).

Goldman Sachs stated that new issuance of U.S. investment-grade bonds remained active throughout the summer, without the seasonal slowdown that the market had initially expected. We are now officially raising our full-year forecast for total U.S. investment-grade bond issuance from $2.1 trillion to $2.3 trillion. Looking ahead to 2027, we believe issuance activity is likely to remain high, and therefore expect total U.S. investment-grade bond issuance for the full year to reach $2.4 trillion.

Tesla (TSLA.O) Robotaxi announced that its Cybercab driverless ride-hailing service will be open to the public for test rides starting Friday at 5 p.m. Central Time.

A Reuters poll predicts that Australian house prices will fall by 3.5% in 2026, rise by 0.6% in 2027, and increase by 4.6% in 2028.

A Reuters poll predicts the Australian property market downturn will last six to twelve months or longer, with prices falling from their peak to their trough by 6.0% to 7.5%.

Japanese Prime Minister Sanae Takaichi: Yesterday, Finance Minister Satsuki Katayama briefed us on the Ministry of Finance's budgeting policy. Specifically, the Ministry of Finance will adopt an unprecedentedly bold and flexible approach to introduce decisive policies. This will accurately address the current economic situation while stimulating private investment, enhancing supply capacity and revenue generation, thereby achieving economic growth. Furthermore, through the budgeting process, constructive discussions will be held regarding the cost-effectiveness of various measures to formulate a highly efficient budget. In other words, good ideas will no longer be excluded due to budget caps; instead, a new rule will apply: any good idea or policy can request the truly necessary budget amount. On the other hand, not all applications will be approved. During the budgeting process, the contribution to economic growth and the effect on private investment will be carefully examined, and the effectiveness of the policy will be thoroughly assessed. Through these measures, under the policy of "responsible and proactive fiscal policy," the government will work together to formulate a budget that both "builds a strong economy" and "ensures fiscal sustainability."

Japanese Prime Minister Sanae Takaichi: Today, the budget request results for the next fiscal year have been announced, totaling approximately 143.1 trillion yen. For the first time, the annual budget reflects the goals of "fundamental reforms in budget preparation," such as our Cabinet's advocacy of "decoupling from reliance on supplementary budgets" and the "investment framework for a 'strong and prosperous Japan'" established for crisis management and growth investments. The next fiscal year is positioned as "the first year of responsible and proactive fiscal policy."

Japanese Finance Minister Satsuki Katayama: Relevant departments in the United States and Japan have confirmed that there are no unilateral policy requirements.

Japanese Finance Minister Satsuki Katayama: US Treasury Secretary Bessenter has not commented on the Bank of Japan's policy.