Global TradFi & Macroeconomics

JPMorgan Chase downgraded Popmart (09992.HK) to underweight from neutral today, cutting its target price to HK$120 from HK$165. The bank highlighted that Q2 marked a true inflection point, with revenue declining 11% year-over-year—the first single-quarter decline since 2023. First-half revenue

According to Jin10 data, on Friday (August 21), the Nikkei 225 index fell 0.3% by mid-session close, as Middle East conflict uncertainty pushed up oil prices and stoked inflation concerns. The index is expected to post a 4% weekly decline—its largest single-week drop since mid-July. The broader

Korean securities firms' sales staff received significantly increased compensation in the first half, driven by a surge in stock market activity. At Yuanta Securities, retail director Lee Jong-seok earned 22.72 billion won during the period — 24.5 times the CEO's compensation of 929 million won

According to RBC Capital Markets, the S&P 500 historically exhibits a distinct pattern during U.S. midterm election years: peaks in August or September, dips to lows in October, rebounds in November, and experiences a second dip in December. Analyzing 2018 and 2022, RBC identified consistent

Bank of Korea Governor Shin Hyun-song skipped the market situation review meeting (F4 meeting) held by economic and financial authorities on the 21st. The absence occurred during the silence period ahead of the Monetary Policy Board meeting

Big tech companies surpassed $200 billion in bond issuance this year to fund artificial intelligence investments, according to analysis by Yonhap Infomax on local time May 20. The surge in corporate bond supply is driving up borrowing costs and sustaining high interest rate environments across bond

According to Yonhap Infomax, as of August 21, South Korea's dollar-won exchange rate has fallen 163.20 won in just over a month, yet 3-year government bond yields have risen, breaking their historical correlation. The exchange rate dropped from a July 2 peak of 1,555.80 won to 1,392.60 won as of Aug

From 02:00 to 03:00 (UTC) on August 21, 2026, BTC experienced a slight one-hour pullback, posting a return of -0.34%. It traded within a range of 74,683.1–75,193.9 USDT, with an amplitude of 0.68%. Over the preceding 24 hours, BTC rebounded from $68,907 to a high of $75,784, gaining 7.52%, while heightened volatility drew significant market attention. The primary driver of this move was the continued escalation of geopolitical risks stemming from the US-Iran war. The Iranian military shifted fro

China's overnight Shanghai Interbank Offered Rate (SHIBOR) rose to 1.4340% overnight, up 5.0 basis points. The 7-day SHIBOR increased to 1.4256%, up 3.56 basis points, while the 3-month SHIBOR remained flat at 1.4300%.

Bloomberg cited informed sources on August 21 as saying that Samsung Electronics’ shareholder return program could be worth up to 110 trillion Korean won (approximately $79 billion). The board will convene at 4 p.m. Korea time that day, with details of the plan to be announced after the meeting. If implemented at this scale, it could become the largest shareholder return in the history of South Korean listed companies. As of press time, Samsung had not officially disclosed the amount or details,

Japanese investors net purchased over 5 trillion yen in overseas stocks and long-term bonds during the two weeks ending the 15th, according to Japan Ministry of Finance data cited by CNBC on the 20th (local time). This contrasts sharply with net sales exceeding 300 billion yen in the prior two-week

US Treasury Secretary Scott Besent signaled additional strategies to influence bond markets in a CNBC interview on the 20th (local time), drawing attention to Fed Chair Kevin Warsh's upcoming appearance at the Jackson Hole meeting next week. Besent emphasized that treasury buyback expansion is

According to CNBC citing Japan's Ministry of Finance, Japanese investors net-bought over 5 trillion yen in overseas stocks and long-term bonds in the two weeks through August 15, reversing prior weakness. Market analysts say the Bank of Japan's recent currency intervention has actually accelerated c

According to S&P Global, Japan's August services purchasing managers' index (PMI) preliminary reading reached 52.3 on August 21, up from 51.2 in July. Manufacturing PMI rose to 55.1 from 54.5, while the composite PMI climbed to 53.4 from 52.7, indicating strengthened private sector expansion. S&P Gl

JYP Entertainment's share price declined 27.44% over the past month to 38,600 Korean won as of August 21, compared to 53,200 won on July 1, according to the Korea Exchange. The company's Q2 earnings fell short of market expectations, with revenue down 15.1% year-over-year to 184.7 billion won and

According to Goldman Sachs MarketStrats on Aug 21, expanded long-term U.S. Treasury bond repurchases can provide near-term relief to long-end yields. Drawing on historical precedent from Operation Twist in 1961 and the 2011 maturity extension program, both delivered approximately 10-20bp of rate

According to Gate data, silver (XAGUSD) broke through $69 per ounce today, trading at $69.001/oz with a 24-hour gain of 2.9%.

According to Morningstar Investment, Bubble Mart's (09992.HK) H1 2026 earnings fell 15-20% below market expectations, with Americas sales declining 10% and unfavorable product mix pressuring gross margins. The firm cut 2026-2028 average earnings forecasts by 25% and sales guidance by 17%, citing

Platinum futures contracts surged more than 4% during intraday trading on August 21, reaching 460.65 yuan per gram.

Foreign government holdings of US Treasuries have declined to approximately 12% of the total market from roughly 40% before the financial crisis, according to an Axios analysis reported by Yonhap Infomax. This shift has resulted in US Treasury market management falling increasingly into the hands of