新华财经北京10月31日电国际贸易紧张局势有所缓和，提振了亚洲新兴市场的风险偏好，帮助地区货币 从美国利率不确定性和地缘政治紧张带来的压力中反弹。本周，马来西亚林吉特上涨0.7%，有望创下 去年8月以来的最大单周涨幅。泰铢本周上涨1.2%，有望创下去年9月以来的最佳单周表现。泰铢今年 已升值逾6%，是该地区表现最好的货币之一，不过这种强势被视为对出口和旅游业构成风险，而出口 和旅游业是泰国经济的两大主要推动力。 （文章来源：新华财经） 法国外贸银行亚太区首席经济学家Alicia Herrero说，"美国最近对东盟的态度反映了一种战略转变。美 国似乎正在采取一种更加平衡的方式来重建与东南亚国家的关系。" ...

Core Insights - The 2025 League of Legends World Championship (S15) semifinals will take place in Shanghai from November 1 to 2, featuring four teams: GEN, KT, TES, and T1, competing for a spot in the finals [1] - The event is expected to significantly boost local economies through increased hotel occupancy, transportation, dining, and city services during the tournament [1][2] Group 1: Event Details - The S15 World Championship, developed by Riot Games and operated in China by Tencent, has over 75 million players in China, primarily male aged 18 to 30 [1] - The championship began on October 14 in Beijing and will be held in various cities, with the finals set to take place in Chengdu after the Shanghai semifinals [1] Group 2: Economic Impact - The event is projected to enhance local consumption, with hotels near the venue offering discounts and special packages to attract visitors [2] - According to research, a 1% increase in esports industry revenue can lead to a 0.47% rise in video game industry revenue and a 0.076% increase in GDP [2] - Historical data indicates that hotel occupancy rates during major esports events can exceed 90%, and dining expenditures in commercial areas can grow by over 20% [2]

Core Insights - Despite challenges to globalization, the direction remains unchanged, with future international cooperation still possible [1][2] - Non-commercial factors, such as security concerns, have gained importance in policy decisions, leading to skepticism about the effectiveness of multilateralism [1] - A significant majority of international trade, 72%, continues to operate under the World Trade Organization's Most-Favored-Nation principle [1] Summary by Sections Global Trade Environment - The global economic and trade environment has undergone profound changes in recent years, with non-commercial factors influencing policy decisions [1] - Unilateral measures have had a noticeable impact on trade, yet the overall direction of globalization remains intact [1] Future Cooperation - There is still room for international cooperation despite unfavorable short-term conditions [1] - Countries supporting multilateralism and trade liberalization should adhere to WTO rules and adopt a constructive approach to problem-solving [1] Opportunities for Development - Digitalization, green development, and cutting-edge technology present new opportunities and tools for addressing global challenges [2] - The WTO aims to build multilateral cooperation mechanisms to enhance the stability and predictability of rules, thereby ensuring global economic resilience [2]

Group 1: Central Bank Policies - Barclays suggests that traders are underestimating the likelihood of an unexpected interest rate cut by the Bank of England next week, predicting a 25 basis point cut to 3.75% [1] - According to Capital Economics, Eurozone inflation is expected to decline further in the coming months, potentially leading to another rate cut by the European Central Bank [2] - DBS Bank analysts indicate that the Bank of Japan may raise its policy rate by 25 basis points in December, depending on wage negotiations and the Federal Reserve's actions [3] - UOB economists believe that the Bank of Thailand may need to cut rates more than expected to combat deflation risks, with predictions of 25 basis point cuts in December and Q1 of next year [5] Group 2: Inflation and Economic Growth - Eurozone inflation decreased from 2.2% in September to 2.1% in October, attributed to falling energy and food prices, while core inflation remained at 2.4% [2] - The European Central Bank's survey indicates that inflation is expected to stabilize around the 2% target in the coming years, with economic growth projected to gradually recover [2] - Thailand's consumer prices have fallen for six consecutive months, raising concerns about deflation driven by weak bank credit and high private sector leverage [5] Group 3: Market Trends and Investment Sentiment - Hedge funds are betting that the Japanese yen will fall to 160 against the US dollar by year-end, driven by the divergence in monetary policy between the Fed and the Bank of Japan [4] - A report from Bank of America highlights a record outflow of $7.5 billion from gold funds in a single week, following a previous week of significant inflows [6]

新华财经新加坡10月31日电（记者刘春涛）日本半导体光掩膜制造商Tekscend Photomask（Tekscend） 31日宣布在新加坡启动新工厂建设，这将是新加坡首个光掩膜制造厂。此举标志着新加坡半导体生态系 统补上了关键一环，有望显著增强本地及区域半导体供应链的韧性。 Tekscend是日本印刷技术巨头凸版控股（TOPPAN Holdings）旗下的核心业务，于2022年分拆独立运 营，是全球光掩膜领域的领军企业之一。光掩膜作为半导体制造中光刻工艺所用的高精度模板，对于将 电路图案转印到硅片上至关重要，是先进芯片制造不可或缺的组件。 目前，新加坡占全球芯片产量的十分之一，以及全球半导体设备产量的五分之一。据经济发展局资料， 自2020年10月以来，新加坡已吸引了26项半导体投资，其中包括格芯（GlobalFoundries）、美光 （Micron）、Siltronic、Soitec和联华电子（UMC）等行业巨头。过去两年，本地半导体业吸引的研发 与制造投资总额已超过180亿新元，预计将带来大量优质的商业与就业机会。 Tekscend总裁二宫照雄在采访中表示，公司目前在全球拥有九个制造厂。此次在新加坡设 ...

新华财经新加坡10月31日电（记者刘春涛）新加坡海峡时报指数31日跌0.2%，收于4428.62点。 股市成交量达19.6亿股，总交易额达14.1亿新元。其中，268只股票上涨，299只股票下跌。 成份股方面，DFI零售集团（DFIRG）和吉宝有限公司（Keppel）涨幅居前，分别上涨3.54%和1.39%。 跌幅居前的星狮物流商产信托（Frasers L&C Trust）和城市发展（CDL）分别下跌2.5%和1.77%。 （文章来源：新华财经） ...

新华财经北京10月31日电（王菁）新华财经31日获悉，"互换通"新增华泰证券、上海银行、星展银行 （中国）三家报价商。 "互换通"是境内外投资者通过内地与香港基础设施机构连接，参与两地金融衍生品市场的机制安排。其 中，交易端由外汇交易中心为境内外投资者提供衍生品交易服务，支持境外投资者通过中国人民银行认 可的境外第三方电子交易平台接入；清算端由上海清算所与香港交易及结算所有限公司旗下的香港场外 结算有限公司（OTCC）通过中央对手方互联方式，共同为境内外投资者提供集中清算服务。 据悉，"互换通"通过交易清算一体化的机制安排，为境内外投资者参与两地金融衍生品市场提供了更为 便捷、高效、安全的渠道。自"互换通"业务上线以来，截至2025年9月末，已有来自15个国家和地区的 103家境内外投资者参与，累计达成交易1.6万笔，名义本金8.58万亿元。 9月25日，中国人民银行邹澜副行长在香港固定收益及货币论坛上宣布，将扩充"互换通"报价商，优化 报价商管理机制。为加快配合"互换通"报价商扩容，进一步提升"互换通"市场活力，相关基础设施及时 完成各项清算准备工作，全力支持"互换通"新增报价商开展业务。 新华财经从上海清 ...

新华财经北京10月31日电（记者高婷、翟卓）10月30日下午，世界银行高级常务副行长阿克塞尔·冯·托 森伯格在2025金融街论坛年会闭幕式上表示，全球经济持续面临逆风，贸易不确定性和波动性导致经济 和商业环境更趋谨慎。 冯·托森伯格还表示，无论是区域内，还是在全球伙伴之间，各国都可以在互联互通中变得更加强大。 （文章来源：新华财经） 在此背景下，冯·托森伯格认为，需要在三个方面采取行动：首先，要投资基础设施建设，包括实体基 础设施以及卫生和教育投资。其次，支持政策和监管改革，建立一个规则清晰、政策确定的友好营商环 境。前两点对鼓励民间资本发展至关重要。第三，减少非关税壁垒，加强区域一体化。让国内和区域贸 易更快捷，通关更简便、规则更清晰，从而实现货物自由流动、企业蓬勃发展、经济共同增长，这其中 蕴藏着尚未开发的重大机遇。 冯·托森伯格表示，近期，全球货物与服务贸易已基本趋于平缓，2024年出口占GDP比重为29%，与 2007年持平。在全球许多地区，区域内贸易仍然有限。例如，非洲和南亚区域内贸易占GDP的比重仍低 于3%，而欧盟则接近25%。随着贸易趋于平缓，流向新兴市场和发展中经济体的外国直接投资已降至 2 ...

Core Viewpoint - The China Interbank Market Dealers Association has revised the "Credit Risk Mitigation Warrant (CRMW) Creation Instruction Manual (2025 Edition)" to promote the standardized development of CRMW business and enhance creation efficiency for market participants [1] Group 1: Revision Details - The revised manual builds on previous guidelines and aims to align with the latest business system requirements [1] - It expands the creation elements of CRMW linked to entities and includes arrangements for inquiry creation and early cancellation [1] - The update optimizes information disclosure and provides additional document templates for market participants [1] Group 2: Future Directions - The association plans to continuously improve the operational mechanism of CRMW business and enhance service levels [1] - The goal is to better serve the needs of the real economy through credit derivatives and promote high-quality market development [1]

Core Insights - National energy investment in China has shown rapid growth, with key projects completing investments of 1.97 trillion yuan in the first eight months of the year, representing an 18.2% year-on-year increase [1] Group 1: Investment Growth Characteristics - Nuclear power, power grids, new energy storage, and coal power have been significant drivers of investment growth in energy projects [1] - Wind power, modern coal chemical industry, oil and gas storage facilities, charging infrastructure, and hydrogen energy investments have seen rapid increases, with wind power investment growing over 40% year-on-year [2] - Solar power generation, integrated energy systems, oil and gas exploration, and pumped storage investments have steadily increased, with solar power project investments rising by 17.5% year-on-year [3] Group 2: Regional Investment Highlights - Six provinces (Shandong, Jiangsu, Guangdong, Xinjiang, Yunnan, Inner Mongolia) each completed investments exceeding 100 billion yuan in the first eight months [1] - Significant investment in wind power projects has been noted in regions such as Xinjiang, Hebei, Guangxi, Shandong, and Hunan [2] - Major oil and gas projects are progressing in the Bohai Sea and Jianghan shale gas fields, with proven reserves of 165 billion cubic meters [3]