.ASIA/PACIFIC
-The Australian stock market started the week stronger on Monday even as Reserve Bank of Australia Deputy Governor Andrew Hauser reportedly reiterated his stance that the RBA will be keeping rates steady for now and will not follow the U.S. Federal Reserve in cutting rates.
-Asian stocks ended mostly higher on Monday even as Chinese and Hong Kong markets fell as China’s factory activity hit a six-month low in August.
-Japan stock volatility chased away speculators, lured long-term investors in August, Nikkei Asia reported.
. EUROPE
-Major European stock market closed flat on the first trading day in September as investors continued to digest last week’s economic data.
-Chair of the Supervisory Board of the European Central Bank (ECB) Claudia Buch told the European Parliament on Monday that the macro-financial and geopolitical environments have “changed significantly” compared to a decade ago and that preserving Eurozone’s banks’ resilience is “vital.”
-Germany’s Purchasing Managers’ Index (PMI) hit a five-month low, falling from 43.2 in July to 42.4 in August.
. AMERICAS
North America
-The stock indices in the United States won’t be trading today due to the Labor Day holiday.
Latin America
-IPO revival looms in Brazil: This month’s widely expected cut in US interest rates is expected to help bring an end to Brazil’s drought in initial public offerings, Hans Lin, co-head of investment banking at Bank of America in São Paulo told Latin Finance.
-Argentina announced a new policy on Thursday to simplify steel imports, aiming to reduce costs and enhance market competitiveness.
. AFRICA
-OPEC oil output fell in August to its lowest since January, a Reuters survey found on Monday, as unrest that disrupted Libyan supply added to the impact of ongoing voluntary supply cuts by other members and the wider OPEC+ alliance.
-From 1 September, the two-pot retirement system comes into effect and South Africans will be able to withdraw money from the savings pot component of their pension savings.
-Egypt counts on foreign funds to buy gas as power crisis worsens, Reuters reported. The country needs some $2 billion worth of gas to cover summer demand through October.
. MIDDLE EAST
-UAE: Companies warned against making unsolicited sales calls about investments, according to an Emirates News Agency report.
-Bahrain will impose 15% minimum tax on large multinationals starting 2025, its state news agency said on Sunday.
-Oman bans 28 new activities from foreign investment, taking the total number of such activities to 123, Muscat Daily reported.
