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Live Asia Stock Market Updates: Today’s Latest News in 13 Words or Less

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China’s industrial profits in August showed a milder decline compared to previous months, with profits falling 11.7% year on year. This is a smaller contraction than the 15.5% drop seen in the first seven months of the year. The National Bureau of Statistics reported that industrial enterprises saw a 17.2% year on year growth in profits in August, marking the first monthly growth since the second half of 2022. Despite the improvement, the overall outlook for China’s industrial profits remains uncertain.

Minutes from the Bank of Japan’s July meeting revealed a split among board members regarding when to raise interest rates. The central bank has been grappling with inflation consistently exceeding its 2% target for 15 consecutive months. Some members expressed the need to maintain the negative interest rate policy and yield curve control, while others believed that the goal of achieving 2% inflation in a sustainable manner was within sight. The minutes indicate a divergence of opinions within the board, highlighting the challenges faced by Japan’s central bank in navigating its monetary policy.

A British chip designer’s shares are expected to soar by over 100% in the next 12 months, according to Jefferies. The investment bank believes that the company is designing chips for American Big Tech firms, which is predicted to boost its profit margins. The chip stock is also seen as one of the potential beneficiaries of the growing trend in artificial intelligence applications. This bullish outlook reflects the increasing demand for cutting-edge chip technology in various industries and highlights the potential growth opportunities for the British company.

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