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KCNA reported on the 22nd that the Missile General Bureau successfully tested a new weapon on the 20th, an event observed by Kim Jong Un. Kim said the trial demonstrated advanced defense technology and that acquiring these capabilities is significant

2026-09-22

KCNA reported on the 22nd that the Missile General Bureau successfully tested a new weapon on the 20th, an event observed by Kim Jong Un. Kim said the trial demonstrated advanced defense technology and that acquiring these capabilities is significant for national readiness and long-term force development.

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2026-09-22

ICE data show UK wholesale natural gas near-month contract fell 5.15% to 172.24 pence/therm.

ICE data show UK wholesale natural gas near-month contract fell 5.15% to 172.24 pence/therm.
2026-09-22

On September 21st, the Buffett Index (CSI 300 market capitalization/GDP) rose for the second consecutive day to 93.03%, recently fluctuating within the middle range of its year-to-date range. The equity risk premium (ERP) of the CSI 300 Index, a stoc

On September 21st, the Buffett Index (CSI 300 market capitalization/GDP) rose for the second consecutive day to 93.03%, recently fluctuating within the middle range of its year-to-date range. The equity risk premium (ERP) of the CSI 300 Index, a stock-bond ratio indicator, fell for the second consecutive day to 5.75%, but remains at a relatively high level. From a longer-term perspective, this indicator is still in the middle range of its fluctuation over the past four years, suggesting that the current attractiveness of the stock market relative to government bond yields is at a neutral to high level. -------- Note: 1. The Buffett Index compares the total market capitalization of the stock market to GDP to determine whether the stock market is currently overvalued. Generally, 70-100% is considered a normal valuation; below this range is considered undervalued, and above is considered overvalued. 2. The risk premium (ERP) of the CSI 300 Index is mainly compared with the returns of the CSI 300 and the yield of government bonds. Statistics from the past 10 years show that this indicator has a clear inverse relationship with the stock index. Every time the stock market is in the bottom area, the risk premium exceeds 6%. That is, when ERP ≥ 6%, the stock market has investment value, while when ERP ≤ 4%, the stock market is often close to or at a stage high, the investment value is low, and there is even a risk of correction.
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