At the midday close, China’s most-active 2-year bond futures (TS) fell 0.01%, 5-year (TF) fell 0.03%, 10-year (T) fell 0.02% and 30-year (TL) fell 0.03%.

On Sept. 7 Changxin Technology held its 2026 interim results briefing. Responding to market reports that Apple tested its chips, CEO Zhao Lun said the company is open to exploring cooperation with global premium customers and that its products can compete with international peers on performance, quality and supply stability. On HBM (high-bandwidth memory), Zhao said Changxin will continue product and process iteration following its technical roadmap and commercial plan. He added server demand is robust; Changxin expanded server business in 1H and contribution from server-facing products increased as downstream demand picked up. On domestically sourced DUV lithography, the company said it has taken measures to build the supply chain, focusing on development and validation of domestic suppliers to coordinate core links such as semiconductor equipment.

The yen climbed to a more-than-six-month high, creating downside risk for Japanese automakers after many forecasts assumed a weaker currency. Toyota assumes USD/JPY 160 and says a 1-yen appreciation cuts annual operating profit by about JPY50 bln (~$326m). The current yen is stronger than the exchange-rate assumptions of all Japanese automakers except Nissan, which models USD/JPY 150 through the fiscal year to March 2027. A stronger yen reduces the value of repatriated overseas revenue and weighs on firms with large US/EU sales exposure.