China’s industrial profits experienced a softer fall in August, with a decline of 11.7% compared to a 15.5% drop in the first seven months of the year. The National Bureau of Statistics reported that industrial enterprise profits rose by 17.2% year-on-year in August, marking the first monthly growth since the second half of 2022. Despite the improvement, profits for the first eight months of the year remained in double-digit decline.
The Bank of Japan’s board members were divided on when to raise interest rates, as inflation remained above the central bank’s 2% target for 15 consecutive months. One member argued that the negative interest rate policy should be maintained, while another member believed that achieving the inflation target was in sight and could potentially be achieved by the first quarter of next year. The minutes from the July meeting reflect a divergence of views on the appropriate timing for monetary tightening.
A British chip designer is predicted to see its shares soar by over 100% within the next year, according to investment bank Jefferies. The company is speculated to be designing chips for American Big Tech firms, which is expected to boost its profit margins. The chip stock is also seen as a potential beneficiary of the growing trend in artificial intelligence applications. This forecast highlights the potential for significant growth in the chip industry and the increasing importance of chips in various sectors.