◆ Daily Global-Macro Brief LIVE
TODAY IN 30 SECONDS
  1. US Treasury Secretary Bessent Announces Global Shutdown of Iranian Airlines by September 23
  2. Vietnam Stock Market Upgraded to FTSE Russell Secondary Emerging-Market Status, Eyes Billions in Inflows
  3. Japan Addresses Rapid Aging and Dementia with AI, Robotics, and Community-Integrated Elder Care Models
  4. EU Chamber Urges China to Address Overcapacity Ahead of Crucial Talks
  5. Trump Proposes $5 Billion Fund to Rebuild Gulf Energy Infrastructure, Bypass Strait of Hormuz

Markets 118

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  • Vietnam's stock market officially entered FTSE Russell's secondary emerging-market ranks.
  • The upgrade culminates a multi-year effort to meet the index provider's criteria.
  • This move is anticipated to attract billions of dollars from global investors.
  • Vanguard has pledged $2.5 billion in response to the market upgrade.
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  • Citi Research indicates modest positive catalysts could trigger sharp short-covering rallies.
  • Nikkei and Kospi are specifically highlighted as markets susceptible to such rallies.

Macro/Economy 54

  • Japan faces severe demographic challenges, including shrinking birthrates, rapid aging, and a rising number of people living with dementia.
  • These demographic issues are most pronounced in Japan compared to other advanced economies.
  • The country is exploring AI and robotics as solutions on the dementia-care front lines.
  • Japan also employs independence-focused, community-integrated elder-care models, drawing global attention.
  • European companies in China are pressing the government to tackle overcapacity and intense price competition.
  • Concerns are being raised ahead of crucial talks scheduled for next month.
  • A report highlights a lengthy list of issues and an uphill battle to resolve the trade imbalance.
  • European industries fear being 'hollowed out' by the influx of Chinese products.
  • Pakistan plans to link its domestic payment system Raast with the Arab Monetary Fund's Buna network by year-end.
  • The connection is expected to reduce remittance costs by about 30% for Pakistani workers in the Persian Gulf.
  • Pakistan could become the first South Asian country to join the Buna cross-border payment network.
  • The initiative aims to make remittances faster and potentially reduce illegal hawala transfers.

Central Banks 9

Energy/Oil 21

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  • U.S. President Trump proposed a $5 billion U.S. fund to rebuild Gulf energy infrastructure damaged in the war with Iran.
  • The fund aims to help Gulf states develop alternative oil export routes, bypassing the Strait of Hormuz.
  • The U.S. will ask Gulf states to contribute, targeting a total fund size of $10 billion.
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  • Front-month Brent futures are trading above the $100-a-barrel psychological threshold.
  • Oil market attention is shifting towards diplomatic developments concerning the Mideast conflict.

Gold/Metals 18

Crypto 33

Geopolitics 45

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  • US Treasury Secretary Bessent stated all Iranian airlines will be shut down globally by September 23.
  • Foreign companies face secondary sanctions for providing fuel, landing services, or selling tickets to Iranian carriers.
  • The action is part of the Trump administration's escalating economic campaign against Tehran.
  • West Texas Intermediate (WTI) oil price rose 0.41% to $92.18 following the announcement.
  • World leaders are gathering in New York for UNGA 81.
  • The summit takes place against a backdrop of multiplying global conflicts.
  • Trust in international institutions is reportedly eroding.
  • A central question is the continued relevance of global rules when powerful nations disregard them.
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  • Iran's Islamic Revolutionary Guard Corps (IRGC) states US and Israel must accept the region's freedom from their 'vile and criminal presence'.
  • The UKMTO agency reported a second vessel was hit by 'debris from an unknown projectile' in the Strait of Hormuz.
  • US envoy Mike Waltz affirmed President Trump's determination to prevent Iran from acquiring nuclear weapons.
  • Waltz indicated the door remains open for Iran to return to nuclear negotiations 'in good faith'.

Tech/AI 35

Companies 3

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  • VinFast's taxi affiliate, Green and Smart Mobility (GSM), launched its first overseas motorbike taxi service in Jakarta.
  • This marks GSM's initial two-wheeler service outside Vietnam, expanding its Indonesian fleet.
  • The expansion could potentially create a new sales channel for the loss-making EV producer VinFast.
  • GSM currently operates electric cars and motorbikes in Ho Chi Minh City.
  • Shares of China's power parts makers have not fully capitalized on the global AI investment surge.
  • This contrasts with equipment manufacturers in the U.S. and Europe, which have benefited from the AI wave.
  • Chinese manufacturers face order backlogs due to shortages of electrical infrastructure parts.
  • Reliance on state-owned customers is cited as a factor limiting profit margins for these companies.
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  • Isq Global Fund II GP LLC divested $14.3 million worth of Kinetik Holdings (KNTK) stock.

Thai Markets 13

Other 1

  • New Turkish-Japanese Science and Technology University in Ankara opens Oct. 5 after legal delays.
  • The university has admitted students who ranked in the top 4% of their cohort in state exams.
  • Students are drawn by prospects of employment, internships, and study opportunities in Japan.