In August, China's new social financing was 2.57 trillion yuan, with new loans of 590 billion yuan, and the M2-M1 spread reached a four-year low. China and the U.S. will hold talks in Spain to discuss U.S. unilateral tariff measures, TikTok, and other issues. Morgan Stanley now expects the Federal Reserve to cut interest rates at a faster pace, with four consecutive actions starting in September. OpenAI and NVIDIA will announce a multi-billion dollar investment in a data center project in the UK. SK Hynix: HBM4 is ready for its first mass production, with an expected power efficiency improvement of 40%. Super Micro Computer rose over 6% in pre-market trading, as the company began bulk shipments to NVIDIA's Blackwell Ultra systems. Cryptocurrency exchange Gemini raised its IPO price to $28 per share, valuing the company at $3.3 billion. Adobe rose over 4% in pre-market trading after the company reported third-quarter results that exceeded expectations, with AI business annualized revenue surpassing $5 billion. UBS raised its gold price target: it may rise to $3,800 by the end of the year, with ETF holdings approaching historical records. Indonesia has sealed off some mines, causing nickel prices to rise by 1%. The Nikkei 225 index closed up 0.9%; the Shanghai Composite Index closed down 0.12%; the Hang Seng Index closed up 1.16%
