UBS remains constructive on copper and expects the metal to reach its PT of $15,500/ton over the next few quarters.

South Korea launched an 880 bln won (≈$631m) ultra-long technology fund today, offering up to a 16-year investment horizon for advanced tech sectors. Policy capital comprises 77% (680 bln won), including 600 bln won from the Advanced Strategic Industries Fund and 80 bln won in fiscal funding; the Financial Services Commission and Korea Development Bank are driving the initiative. The fund will target next-generation semiconductors, biotech and related advanced industries; investee eligibility requires vetting by a technology credit guarantee fund or equivalent legal assessment. To limit concentration, at least 40% of allocations must be invested outside AI and semiconductors; early-stage co-investment and overseas M&A receive weighted incentives. Asset managers will be appointed as three small managers (80 bln won each) and four large managers (160 bln won each); proposals close Sept. 3, selection is due in October and disbursement could be completed by year-end. Manager evaluation will emphasize sector-specific teams and expert networks.

孟加拉國總理新聞祕書：尚未決定孟加拉國總理拉赫曼訪問印度一事。