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Geopolitics Drive Oil Rally and Inflation Fears as Canada-U.S. Tariffs Take Effect

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U.S. stock futures fluctuated and global equities retreated as Brent crude neared $100 a barrel, stoking inflation concerns, according to Bloomberg.

Saudi Arabia halted some energy operations following attacks, while Canada’s retaliatory tariffs on U.S. goods of up to 50% took effect.

ASML secured commitments from Taiwan Semiconductor Manufacturing Co. and Samsung to deploy its latest chip-production equipment.

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ING: European Retail Investors Favor Domestic Assets

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ING Group Chief Economist Marieke Blom noted that European retail investors continue to favor domestic exposure even as the outlook for the euro area remains cautious.

A Jin10 survey of European consumers found that 38% prefer investing in Europe while 14% prefer the United States.

Blom argued that persistent pessimism about the European economy has not deterred savers from allocating more money to European assets, with potential benefits for regional stock valuations and private-company funding as a result.

The pan-European STOXX 600 has gained 9.6% so far this year, while the S&P 500 has increased by nearly 13%.

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HK Clearing Firms Sign MoU to Expand Cross-Border RMB and Bond Connect Cooperation

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Hong Kong Exchanges and Clearing subsidiary Hong Kong Securities Clearing Company and Cross-Border Interbank Payment Clearing Co. signed a memorandum of understanding to strengthen cooperation on market expansion and services for overseas members, according to ETNet.

The two parties plan to deepen collaboration on market development and network expansion, with aims to broaden member networks, improve liquidity and the appeal of RMB investment and financing products, and promote cross-border payments, cash management and securities settlement services. They also seek to enhance the compatibility, interoperability and efficiency of financial infrastructure.

Hong Kong Securities Clearing Company chief executive Chan Tat-keung said the firms have long supported connectivity between mainland China and Hong Kong and will work to meet the continued development needs of RMB internationalisation. He added that Hong Kong Securities Clearing Company will provide reliable financial infrastructure support for Hong Kong as an international financial centre and a leading offshore RMB hub.

From March 2025, the CMU membership will be expanded to eligible institutions regulated or supervised outside Hong Kong, to attract more international market participants to Hong Kong’s bond market and enable access to the mainland market through Bond Connect. The CMU and CIPS are key platforms within the Hong Kong–mainland financial connectivity framework, and the CMU is the first offshore financial infrastructure to participate directly in CIPS, providing delivery-versus-payment settlement for HKD and RMB transactions in Bond Connect.

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Standard Chartered Hong Kong Completes CIPS Upgrade to Connect with NetsUnion for Real-Time Cross-Border Clearing

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Standard Chartered Hong Kong has completed the required system construction and upgrades to connect with NetsUnion Clearing Corporation through the Cross-Border Interbank Payment System, according to ETNet.

The upgrade enables real-time execution of cross-border clearing instructions and processing of clearing transactions for partner institutions. The bank also participated in a launch ceremony in Xiamen for cross-border renminbi network payment and clearing services, alongside representatives from the Cross-Border Interbank Payment System, NetsUnion Clearing Corporation and Standard Chartered Hong Kong.

Zhang Ying, head of cash management for Greater China and North Asia at Standard Chartered, said the bank is the first foreign lender outside mainland China to establish clearing connectivity with NetsUnion Clearing Corporation via the CIPS platform, enabling real-time cross-border clearing for partner accounts including Ant International.

Standard Chartered notes that it is the first foreign bank with direct participation qualifications in CIPS in both mainland China and Hong Kong, and that by 2025 its indirect participation count in mainland China and Hong Kong leads foreign banks, with its processed business volume among the top direct participant banks in CIPS.

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Boss Zhipin-W Shareholding Changes Filed With HKEX Involve Morgan Stanley, JPMorgan, The Capital Group, Tencent and Zhao Peng

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Boss Zhipin-W (02076) disclosed a sequence of shareholding changes reported by ETNet, involving Morgan Stanley, JPMorgan, The Capital Group, Tencent Holdings and Zhao Peng.

Morgan Stanley increased its long position by 2.22 million shares on September 3, 2026, at an average off-market price of US$16.84.

JPMorgan added 2.21 million shares on August 19, 2026, at an average on-market price of HK$61.0437.

The Capital Group reported multiple changes, including a reduction of 6.01 million shares on March 19, 2026, and an increase of 3.59 million shares on February 12, 2026.

Tencent Holdings cut its long position by 19.48 million shares on January 7, 2026, at an average off-market price of HK$79.96.

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Kweichow Moutai raises retail prices at self-operated stores again, marking sixth hike this year

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Kweichow Moutai has raised the retail price of its Feitian 53% vol 500ml baijiu at self-operated stores to RMB 1,766 per bottle from RMB 1,753, marking the sixth price hike this year, according to ETNet.

The Feitian 53% vol 1L baijiu was priced at RMB 3,291, up from RMB 3,269. Other products affected by the round of increases include Five-Star 53% vol 500ml, the 53% vol 200ml, and the 53% vol 500ml x 2 baijiu for the Bingwu Year of the Horse edition. Prices for the 53% vol 50ml x 5 Golden Edition and the Feitian 43% vol 500ml baijiu were slightly lowered.

On the iMoutai app, retail prices for Feitian and the 1L version were unchanged at RMB 1,639 and RMB 3,269 respectively. After the adjustment, the Feitian retail price at self-operated stores was RMB 127 higher than on iMoutai.

A store worker said the move followed market conditions and that all self-operated outlets nationwide had implemented the new prices. Kweichow Moutai (Shanghai: 600519) fell 0.51% to RMB 1,309.3 on the day.

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UK Borrowing Costs Set to Hit Highest Since 1998 Ahead of Gilt Sale

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The UK is poised to finance a gilt sale at borrowing costs not seen in the gilt market since at least 1998, as a global bond rout pushes yields higher and tightens government finances.

The broader move away from government debt in major markets has pushed yields higher, lifting borrowing costs for sovereign issuers worldwide.

Bloomberg cited the global bond selloff as a key factor behind the tighter funding conditions facing UK gilts.

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Biocytogen-B and Asymchem Rally About 10% on Active Buying

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Biocytogen-B (02315) and Asymchem (06821) experienced unusual trading activity at 1:46 PM, with stock prices increasing 10.09% and 10.10%, respectively, according to ETNet.

Biocytogen-B last traded at HK$63.85, while Asymchem closed at HK$145.00 and marked a 52-week high.

Both stocks showed an active buy-sell ratio of 64:36.

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