Fed Governor WALLER said it would be preferable to provide some guidance on the likely path of future policy.

【韓國議員尋求併購改革以保護少數股東權益】韓國執政黨議員提議擴大企業收購的信息披露要求，這是韓國加強中小股東保護、解決長期困擾本國股市估值折價問題的最新舉措。共同民主黨議員Oh Gi Hyoung等11名議員提出了修訂《資本市場法》的議案，擬調整涉及上市公司的併購規則。他目前領導一個專門負責解決所謂“韓國折價”問題的特別委員會，其辦公室週四在聲明中表示，相關修正案已正式提出。根據聲明，修正案將要求被收購公司的董事會公開披露針對收購要約的獨立意見，包括該要約是否符合全體股東的利益。修正案還將擴大強制信息披露範圍，從目前僅涵蓋對公司資產或管理層產生影響的事項，擴大至對股東利益產生重大影響的企業決策。按照這一修改，凡是可能影響股東利益的併購方案也將受到強制披露規定的約束。

Citic Securities says competition among video-generation models is moving from pure quality benchmarks to production-ready output and commercial monetization, with AI-generated drama emerging as the first large-scale consumption scenario. Seedance2.5 boosts delivery efficiency through long-duration generation, multimodal referencing and consistency editing; platforms such as Tomato Novel, creator centers and production studios are assuming IP development and mass production. Hongguo is building a commercial outlet via free content, algorithmic distribution and ad/e‑commerce monetization while using moderation, revenue-sharing and investment to upgrade supply; ByteDance is creating a closed loop across models, content, traffic and monetization. With content supply expanding and distribution/promotion resources becoming scarce, the core bottleneck has shifted from production capacity to effective supply, concentrating value toward firms with high commercialization efficiency, premium IP and production capabilities, high-quality corpora and deep partnerships with Hongguo.