USD/JPY briefly dropped about 35 pips to 158.74.

Domestic News: 1. A super El Niño event may form this winter, with a high probability of being the strongest on record. 2. Major changes to housing provident funds: withdrawals can be made for home renovations and property management fees; no income threshold is set for renting. 3. The State Financial Regulatory Commission supports mainland insurance institutions investing in Hong Kong exchange-traded funds (ETFs) through the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect. 4. GigaDevice: Net profit increased by 1091.5% year-on-year in the first half of the year. 5. Taiwanese power semiconductor manufacturers are preparing for a third wave of price increases. 6. Shanghai Stock Exchange: Trading has been suspended for investors involved in abnormal transactions related to Aili Home Furnishings in accordance with regulations. International News: 1. Reports indicate that Anthropic is expected to launch its IPO process within weeks. 2. India is considering lowering import tariffs on sugar to curb soaring domestic sugar prices. 3. Sources: The US-Canada tariff exemption proposal has been submitted to Trump for approval. 4. OpenAI: The company has temporarily slowed down the training of some cutting-edge models for two weeks to enhance security and monitoring. 5. Overnight Market Update—The 10-year US Treasury yield rose to 4.75%, a new high since January last year; spot gold fell nearly 2%, silver fell nearly 4%, SK Hynix fell 9%, and Micron fell 7%. 6. Middle East Situation— ① The UAE announced a suspension of trade, commercial, and financial transactions with Iran. ② The UAE claimed that two ballistic missiles from Iran were fired towards the UAE, targeting maritime traffic. Iran denied this. ③ Israel launched an airstrike on a Syrian military airport. ④ Iranian media: Iran's Supreme Leader will soon preside over a religious event in Tehran. ⑤ Trump: No talks have been held with Iran, and there are no plans for them in the future. ⑥ US officials: Trump instructed his team not to negotiate until Iran is ready to sign an agreement. ⑦ US media: The US is considering reducing its military presence in the Gulf region after the war.

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