Market Briefs

Kamala Harris, trailing Trump, chose Tim Walz as VP to appeal to rural voters. The Bank of Japan is maintaining easing policies to steady markets. In Bangladesh, the army defied curfew orders amid protests, while HP plans to shift 50% of production from China to mitigate risks.

Biden exited the 2024 race, endorsing Harris. China cut lending rates to boost growth; a mystery buyer aids China Fortune Land’s debt reduction. A faulty CrowdStrike update triggered a global IT outage, highlighting tech vulnerabilities.

U.S. jobless claims rose to 243,000, with a 4.1% jobless rate. China’s leadership pledged reforms and accepted ex-Foreign Minister Qin’s resignation. Taiwan readies for potential Trump demands, expecting pressure for higher defense spending.

The Philippines and China launch hotlines to ease South China Sea tensions. Trump urges Taiwan to pay for U.S. defense. Ex-CIA officer Sue Mi Terry faces charges for aiding South Korea, and Chinese billionaire Guo Wengui is convicted for $1B fraud.

China Everbright in Hong Kong has imposed partial bonus clawbacks on some staff. Separately, Palau faces rising pressure from China, including cyberattacks, over its Taiwan ties, prompting regional responses from the U.S., Japan, and Australia.

Donald Trump called for unity following an assassination attempt by 20-year-old Thomas Crooks. In separate news, China's Q2 GDP growth missed expectations at 4.7%, hindered by low consumer spending and high unemployment, raising concerns over economic slowdown despite manufacturing gains.