Russian central bank governor Nabiullina said there is limited scope for rate cuts.

Liu Bing, executive committee member and business director at China Galaxy Securities, said index investing may be entering a 'super cycle' — a long-term trend that is redefining industry fundamentals. He said the second half of the China ETF market will favor institutions that first build adviser-service infrastructure, urging a layered ETF service ecosystem that shifts ETFs from single-product sales to full-lifecycle allocation with buy-side advisers embedded; overseas experience shows advisers are a major source of incremental ETF flows, and the rollout of active ETFs should broaden strategies and ease product homogeneity.

Shanghai Gold Exchange gold T+D closed down 1.47% at 939.2 yuan/gram on Friday Sept 11; silver T+D closed down 4.91% at 15,565.0 yuan/kg.