Global Interest Rates Climb Amid Economic Shifts
Global interest rates continue to rise as key economic events unfold overnight. In China, August foreign exchange reserves rose to US$3.44 trillion, a +3.6% increase from year-ago levels.
The Chinese government also announced major funding for eight large state-owned enterprises (SOEs) to enable them to lend more. This move is part of ongoing efforts to support the economy and stimulate growth.
In Japan, July's leading index rose to its highest level since January 2014, driven by rising job offers and consumer sentiment. However, Singapore reported softer-than-expected retail sales in July, with a +1.5% increase from year-ago levels.
The European Union's economy expanded +1.4% in Q2-2026, exceeding previous estimates and driving growth across the region. Germany's industrial production, however, fell sharply by -1.1% in July.
Copper prices hit a record high of US$14,513 per tonne on the London Metal Exchange (LME), while the Japanese yen surged against the US dollar due to speculation about Bank of Japan rate increases and potential currency intervention.