德國央行：由於能源和醫療保健因素，德國通脹將保持高位。

CITIGROUP says Legend Holdings (03396.HK) is reportedly seeking to sell about 90% of Luxembourg private bank Banque Internationale à Luxembourg (BIL), a unit Citi estimates represents roughly 9% of Legend’s NAV. Reported preliminary bids, due around end-September, imply a 100% BIL value of at least €2.5bn (~HKD22.5bn), about 3% above Citi’s latest valuation of ~HKD21.8bn (0.9x book at end-1H2026). BIL has been a stable profit contributor, but Citi expects its share of Legend’s net profit to fall to 10–13% in FY2027–28 as Lenovo Group (00992.HK) drives stronger earnings growth. Citi views a BIL sale as a step toward divesting non-core assets and refocusing Legend as a tech holding; if executed, Citi estimates it could cut Legend’s NAV discount by as much as ~75%. Citi maintains a Buy rating on Legend Holdings.

China Securities Association held its Q3 2026 meeting of securities and fund industry chief economists, attended by more than 70 participants including representatives from the CSRC and related government bodies. Chuancai Securities released Q4 2026 chief economist forecast survey results, and speakers from Industrial Securities, DeBang Securities, Huaxi Securities Research Institute, Fuanda Fund and CITIC Securities presented macro and capital-market outlooks, stressing the need to shore up defenses against external (imported) risks to underpin market stability.