– US consumer sentiment index fell to 70.2 in preliminary August reading, lowest reading since 2011
– US July consumer prices jumped 5.4%, up 0.5% MoM, core inflation rises less than expected
+ Yellen reportedly weighing a trip to China in coming mths
+ Fed is nearing the point of reducing its massive support for the economy, to begin cutting its US$120bn in mthly purchase of Treasuries, mortgage-backed securities
+ US job openings top 10m in June, a new record, 3.9m workers quite their jobs the same mth
+ US jobless claims total 375,000, falling for 3rd straight week, down 12,000
+ US home prices soaring 23% in Q2 YoY amid low number of listings and robust demand
+ US senate narrowly approved US$3.5 trillion budget plan
+ US House Democrats seek at least US$160bn in new EV funding as part of US$3.5 trillion spending measure
+ US import prices rose 0.3% in July after jumping 1.1% in June, at 9 straight monthly gains
+ CDC authorized 3rd dose of Pfizer and Moderna vaccines for ppl who have weak immune systems
+ US workplace regulator issued guidance urging employers to require vaccinated workers to wear masks
+ US drillers added the most oil rigs in a week since April as total rig count more than doubled from record low a year ago
– US wants OPEC to increase crude oil output to reign in petrol prices and curb shortages
+ NASA planning a mission to explore asteroid Psyche 16, located between orbits of Mars and Jupiter
+ Walt Disney rose in now of biggest boosts to both Dow and S&P 500 after its profit topped market expectations
+ AMC Entertainment may start accepting bitcoin as payment for tickets and concession at its US theaters
+ Pfizer, Moderna expected to reap billions of dollars from Covid-19 booster shots
– US lawmakers introduced a bill to curb monopolistic polices of Apple and Google app stores
+ Quaclcomm made US$4.6bn offer to buy auto-technology Veoneer, seeks to expand beyond core mobile-phone chip business
+ Tesla hopes to make the first cars at its Gigafactory near Berlin in Oct
– Tesla shipments of China-made cars to local market fell 69% following negative publicity and recall of vehicles
+ BlockRock slashed 88.3% stake in Alibaba in Q2, cashing out HK$117bn
– Airbnb said its current-qtr bookings could be hit by Delta variant and slowing pace of vaccination in US
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+ China’s PPI grew by 9% YoY in July
+ China’s total imports and exports expanded by 24.5% YoY to 3.29 trillion in first 7-mth
+ China’s FDI inflow up 25.5% YoY to US$103.69bn from Jan to July
– China halts private equity funds from raising money to invest in residential property developments
– China’s tightens scrutiny over IPO price-setting, punishes 19 institutions
– China shuts world’s 3rd busiest port after Covid case, raising fears of further strains on shipping and price increases for goods
+ China more than 770m residents have been fully vaccinated against Covid-19
+ China has provided about 800m doses of Covid-19 vaccine to world
+ Shanghai set to host world’s 2 biggest IPOs this year
+ China’s forex reserves rose to US$3.24 trillion end July, up US$21.9bn from a mth earlier
– China’s oil imports fell by 3% in H1
+ China steel, nation’s largest, would raise domestic prices by 1.2% to reflect higher manufacturing costs and higher demand
+ China’s inland provinces and autonomous regions’ share of foreign trade grows, thanks to China-EU freight train services, air cargo networks, B&R initiative
+ China’s most frost-resistant Fuxing bullet train takes its first test
+ Evergrande share surged after report considering selling property management businesses to consortium lead by Vanke
+ Overseas financial institutions moved to increase shares in Chinese internet giants: Morningstar cn
– China stepped up scrutiny of domestic insurance technology platforms, to curb improper marketing and pricing practices
+ China-EU transported 1352 freights in July, up 8% YoY, making >1000 trains runs in for 15 consecutive single mths
+ China’s new ambassador to US holds first meeting with Deputy Secretary of State
+ China should reduce business drinking and replace it with “correct values”: watchdog
– China’s quarantine hospitals told to clear out other patients within 48 hrs of Covid-9 outbreak
+ China restarts operations at 53 shuttered coal mines to keep up with power demand
+ China’s new energy vehicles sales hit historical high in first 7 mths, tripled from a year ago to near 1.48m units
– CATL, world’s largest EV power cells maker, plans US$9bn share placement to expand lithium-ion battery production
– Nio posted narrower than expected loss and surge in revenue, lost US$0.07 per share in Q2
+ Shanghai Lingang Special Area FTZ aims to become epicenter of NEVs, chips by 2025
+ Honor, smartphone maker split from Huawei, launches first flagship Magic 3 handset series, to rival Apple
+ China introduces measures, from reducing costs to longer maternity holidays to boost birth rate
– China’s plan to expand its anti-sanctions law into HK will become new headache for banks in HK
+ HK raised economic growth forecast to 6.5% as spending recovers
+ HK home prices jumped to record high, residential property values up 8.6% since beginning of the year
+ HKEX saw record interim net profit and revenue, net profit rose to HK$6.61bn YoY
– Cathay Pacific reported US$973m loss in H1, shrank by nearly a quarter, aided by cost-cutting, strong cargo demand
+ Taiwan raises 2021 economic growth forecast to 5.88% from 5.46% predicted in June, fastest pace in a decade
+ Foxconn’s set goal to build EV factories in US and Thailand
+ Galaxy Entertainment returns to profit of HK$947m in H1 vs net loss of HK2.86bn from a year ago
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– Japan health officials deliberately omitted mentions of highly contagious first Lambda variant case of Covid-19 linked to Olympics: report
– Japan’s July wholesale price rose at fastest annual pace in 13 years
+ Japan nearly 30% of large firms plan to boost green investments
– Japan’s Kirin brewery writes off nearly US$200m in Myanmar
+ Russia will reach 2019 levels of trade by end year, to reach pre-pandemic levels
+ Russian oil export revenues surged 21.5% in first 6-mth YoY
+ Russian energy giant Cazprom revenue surged 73% in H1 YoY on rising natural gas prices
+ Russian oil exports to US surged 23% this year to become US’s 2nd largest crude supplier after Canada
+ Cuba to allow SMEs to incorporate in coming mths
+ OEPC+ may increase global crude supply threefold next year, led by US: IEA
– IAE trimmed outlook for global oil demand in 2021, citing rapidly spreading Delta variant
– Gold slides to 5-mth low as upbeat jobs data from US boosting expectations of money tightening by Fed
– Hackers returned almost all of the US$613m in cryptocurrency stolen from blockchain platform Poly Network
+ Poly Network offered hackers US$500,000 “bug bounty”, thanked the hacker generally aims to expose cybervulnerabilities
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+ European stocks scaled new highs and clocked 4th consecutive week of gains on optimism over robust earnings
– European trade surplus shrinks due to supply chain disruption
– EU gas imports from Russia has increased by 28.52% in first 6-mth
+ UEFA said close to €6bn rescue package to help European soccer to recover from pandemic
– Germany’s July annual consumer price inflation accelerated by more than expected to hit 13-year high
– German rail union warns of further strike action
+ Adidas to sell brand Reebok to US company, worth €2.1bn
+ FTSE 100 on track for longest winning streak since Nov
– Virgin Galactic falls as Branson sell stake worth US$300m
+ Turkish lira rallied after central bank held its benchmark interest rate, resisted Erdogan’s calls for rate cut
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– Sydney tightens its lockdown as Delta cases surge to record
+ NZ central bank looks set to become first major economy to lift interest rates since Covid-19 hit
+ NZ hopes to cautiously reopen to the rest of the world in 2020
– India economy has not reached the level where central bank can begin pulling back liquidity: FM
+ India’s merchandise exports rose for 8th straight mth in July to US$35.43bn, up nearly 50% YoY
+ India is set to allow Boeing 737 Max jets to resume flights in the country within days
+ Samsung leader Jay Y. Lee released from jail on parole for ‘good beahviour’
+ Saudi Arabia saw its oil revenue rise 38% in Q2, due to higher oil and tax revenue
– Afghanistan Taliban enters capital Kabul, airport reportedly under fire
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+ Bank Indonesia working with other banks and govts in ASEAN region, China to reduce use of US dollar
+ Indonesia launches simplified business licensing system to boost investment
+ Thailand rice exports expected to continue to increase for the rest of this year, helped by weak baht n competitive prices
+ Thailand oil giant spending billions dollars on EVs and renewable energy companies
– Thai Baht has depreciated >10% against dollar so far this year, becoming Asia’s worst performing currecny
– Bangkok average occupancy rate retail spaces in Q3 falls to lowest level in almost 2 decades
+ Vietnam set goal that digital economy should represent 20% of GDP
+ Philippines economy saw its fastest YoY growth in 30 years, GDP rose 11.8% in Q2
– Philippines new lockdown in Metro Manila to case nearly US$3bn in economic damage per week
– Malaysian PM Muhyiddin expected to resign on Monday
– Malaysia central bank lowered 2021 economic outlook 2nd time to 3-4%, due to resurgence in Covid-19 infections
+ Malaysia has administered 31% or 10.14m ppl both doses of Covid-19 vaccine: Health Minister
– Malaysia reopens My Second Home (MM2H) with quadrupled income requirement, FD Ac with balance RM1m
+ Malaysia, Cambodia launch cross-border digital money transfers
+ Sg economy grows 14.7% in Q2 from low base, full-year GDP growth forecast upgraded to 6-7%, up from 4-6%
+ Sg >75% of population has completed full Covid-19 vaccination regimen: MOH
+ Sg introduces measures to retain work permit holders for construction, shipyard and process sectors: MOM
– Sg supermarkets, malls among sector to be included in Covid-19 ‘vaccinate or regular test’ regime
+ Sg secured S$3.6bn in fixed asset investment commitments in Q2
+ Sg ranked 4th most expensive construction market to build in Asia, 37th most expensive globally: Tuner & Townsend Int’l
+ Sg life insurance industry up 61% to S$2.68bn in H1
+ CDL looks to launch nearly 2000 units in 4 projects
+ SIA reinstated monthly variable component to basic salary of all its Singapore-based staff since Aug 1
+ DBSV received in-principal approval to provide trading services for digital payment tokens
+ Olam Int’l considering raising US$2bn through London listing of its food ingredients unit next year
– Isetan to exit Parkway Parade store after nearly 40 years

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