South Korea's presidential office confirmed on Sept 1 that policy chief Kim Yong-beom submitted his resignation yesterday, which was approved by President Lee. Kim faces criminal charges over launching leveraged ETFs linked to a single semiconductor stock — accused of abuse of power, coercion and obstruction — products blamed for amplifying market volatility and inflicting tens of billions of dollars in investor losses.

德国7月实际零售销售月率 -3.4%，预期0.4%，前值-0.7%。

South Korea's August exports jumped, led by AI-driven chip shipments, reinforcing the Bank of Korea's recent hawkish stance. Customs data released Tuesday showed exports up 72.5% YoY after working-day adjustment, imports up 22.5%, and a trade surplus of $34.7 bln; unadjusted exports rose 68.7% YoY versus July's revised 63.0% increase. Semiconductors were the main driver; higher energy costs and geopolitical strain pressured other sectors but external demand remained resilient, supporting last week's second consecutive 25bp BOK rate hike.