Spot silver is trading over 1% higher intraday at $66.99/oz.

At an Aug. 31, 2026 mid‑year results briefing, China Merchants Bank president Wang Xiaoqing said the bank will prioritise short‑term operations to stabilise its development base, with a core objective of stabilising net interest margin. The bank will preserve its low‑cost funding advantage, steadily strengthen asset‑side risk‑pricing, expand non‑interest income by unlocking subsidiaries’ operating potential, and pursue capital‑market opportunities by deepening wealth management and financial‑markets businesses to lift segment contribution. It will closely monitor early and directional signs of asset‑quality deterioration, prioritising prevention and resolution of risks in retail lending and vacant property.

8月28日，巴菲特指數（滬深300市值/GDP）輕微回落至93.18%，5月以來波動加劇，但高點在逐漸下移。股債性價比指標——滬深300指數股權風險溢價（ERP）進一步升至5.55%，爲2025年8月19日以來新高，突破近一年來波動上限；從大週期來看該指標仍處於過去五年波動區間下端，暗示目前股市相對國債收益的優勢有所上升，迴歸偏中性水平。 -------- 注：1、巴菲特指數是通過將股市總市值和GDP來比較，判斷目前股市是否高估，通常70-100%爲正常估值，低於該區間爲低估，高於該區間爲高估。 2、滬深300指數風險溢價（ERP）主要對比滬深300收益和國債收益率，統計近10年數據可以發現該指標和股指有明顯反向關係，每次股市都處於底部區域時，風險溢價均超過6%，也就是當ERP≥6%，股市有投資性價比，而當ERP≤4%時，則股市往往接近或處於階段性高點，投資性價比低甚至要小心回調風險。