China’s industrial profits saw a slower decline in August, with a year-on-year drop of 11.7% compared to a 15.5% decrease in the first seven months of the year. This marks the first monthly growth in profits since the second half of 2022. The National Bureau of Statistics reported that profits of industrial enterprises rose 17.2% year-on-year in August. Despite the ongoing impact of the COVID-19 pandemic on the global economy, China’s industrial sector is showing signs of recovery.
The Bank of Japan (BOJ) is divided on when to raise interest rates, according to the minutes from its July meeting. Inflation in Japan has remained above the BOJ’s 2% target for 15 consecutive months, prompting differing opinions among board members. One member emphasized the need to maintain the current negative interest rate policy and yield curve control framework, while another member suggested that the 2% inflation target is within reach and could be achieved early next year. The BOJ’s decision on interest rates will have crucial implications for the Japanese economy.
British chip designer shares are predicted to soar by over 100% in the next year, according to Jefferies. The investment bank believes that the company is designing chips for major American tech firms, which is expected to boost its profit margins. In addition to this, the chip stock is seen as one of the beneficiaries of the growing trend in artificial intelligence applications. This projection highlights the confidence in the company’s potential for growth and its ability to capitalize on emerging technologies.