China A-share CRO sector extended weakness, with Haite Biotech down over 11%, Tigermed down 9.42% and Yiqiao Shenzhou down 8.17%; Nearshore Protein, Aopumai and Porton Pharma each fell more than 6%.

Goldman Sachs reiterated that if Gulf LNG exports via the Strait of Hormuz do not increase, TTF at €65/MWh is insufficient for Europe to effectively manage winter inventories. If Strait exports fail to improve, TTF must rise further to suppress Asian LNG demand and free cargoes for Europe. Goldman estimates that if Middle East energy exports only gradually normalize by 2027, TTF for December‑2026 delivery may need to exceed €100/MWh (assuming a normal-winter average), versus a €50/MWh base case — roughly a 110% increase — to materially curb Asian demand.

On Aug. 22 Prime Minister Carney said Canada will impose matching retaliatory tariffs after the U.S. levied 50% duties on $20 bln of Canadian goods; Canada’s counter-tariffs take effect Sept. 8. The premiers of Ontario, British Columbia and Quebec publicly backed the measures — Ontario’s Doug Ford urged provincial unity to “use all means” to retaliate, and B.C.’s David Eby called the U.S. government untrustworthy and said Canada must confront the “bully.”