BANK OF JAPAN Governor UEDA said that with firms becoming more aggressive in wage- and price-setting and medium-to-long-term inflation expectations rising, there is a risk that potential inflation could exceed the 2% price target.

S&P 500 opened 83.21 points higher, or 1.10%, at 7,635.46 on Thursday, Sept. 17. Nasdaq Composite opened 370.73 points higher, or 1.43%, at 26,349.16. Dow Jones Industrial Average opened 342.07 points higher, or 0.66%, at 51,803.97.

Shanghai customs: Jan–Aug goods trade totaled 3.44 tln yuan, up 17.1% YoY. August trade rose 13.1% YoY; exports +16.1% YoY, imports +10.5% YoY. Jan–Aug trade with ASEAN was 546.2 bln yuan, +30.6% YoY; ASEAN has been Shanghai’s largest trading partner since May; trade with Vietnam +78.3%, with Singapore +31.4%. Trade with South Korea +64.3% YoY; exports to South Korea rose 1.3-fold. August imports from Africa +21.8% YoY, with zero-tariff policy benefits continuing. Exports to the US +13.2% YoY and have expanded since April. Combined trade in five AI-related categories — integrated circuits, servers, memory, hard drives and semiconductor manufacturing equipment — rose 90.7% YoY and accounted for 24.9% of Shanghai’s trade. Exports of the “New Three” products rose 78.2% YoY.