Category: Flash News

On January 15th, it was found that wealth management companies such as Minsheng Wealth Management, CMB Wealth Management, Huaxia Wealth Management, and Bank of China Wealth Management have recently issued intensive announcements to lower the performance benchmark of their wealth management products, with some products being lowered by more than 100 basis points. The downward adjustment of the benchmark for financial product performance is closely related to the decline in underlying asset returns. In the current low interest rate environment, timely adjustment of the performance benchmark by wealth management companies can avoid the problem of significant deviation between the actual yield of wealth management products and the performance benchmark, and adjust investors’ expected returns in a timely manner. Looking ahead to 2025, industry insiders believe that asset shortages will continue, and under a moderately loose monetary policy, the low interest rate environment is difficult to conclude. In response to fluctuations in the bond market, many wealth management companies have adjusted their underlying asset investment strategies and strengthened investor expectation management; At the same time, we will strengthen the construction of investment research capabilities, actively layout the equity market, and provide investors with more diverse investment choices. (China Securities Journal)

On January 15th, South Korean police issued an arrest warrant for Lee Gwangyu, the head of the Presidential Guard Department. On the early morning of the 15th, personnel from the South Korean Senior Public Officials Criminal Investigation Agency (Public Mediation Agency) arrived at the South Korean Presidential Palace located in Yongsan gu, Seoul, and presented a court issued arrest warrant for President Yoon Suk yeol. They confronted personnel from the Presidential Guard Agency outside the Presidential Palace. Law enforcement officers attempted to enter the official residence and collided and pushed with obstructing personnel. The South Korean police have begun to drive away and obstruct personnel from the scene.

On January 15th, Minister of National Security Chen Yixin signed Ministerial Order No. 5, announcing the “Regulations on the Management of Construction Project Permits Involving National Security Matters”, which will come into effect on March 1st, 2025. The Regulations consist of 6 chapters and 38 articles, including general provisions, management of safety control areas, permits for construction projects involving national security matters, supervision and management of construction projects involving national security matters, legal responsibilities, and supplementary provisions. The Regulations strictly refine the procedures for construction review and licensing within the scope of the higher-level legal authority, pay attention to the connection with laws and regulations in the field of construction projects, maintain the unity of the national legal system, and form a joint force of institutional guarantees. The relevant person in charge of the Ministry of National Security stated that national security agencies will conscientiously implement the requirements of the “Regulations”, carry out construction review and licensing work in accordance with laws and regulations, strengthen cooperation with relevant departments, protect the legitimate rights and interests of citizens and organizations, and better use legal thinking and methods to safeguard national security.

On January 15th, the Gaza Strip health department reported that the Israeli Defense Forces used drones to attack the West Bank city of Jennin, resulting in 5 deaths. Earlier that day, the Israeli Defense Forces announced that a drone attack had recently been carried out in the West Bank city of Jennin.

On the early morning of the 15th local time, senior South Korean public officials from the Criminal Investigation Agency (NCIA) arrived at the Presidential Palace in Yongsan gu, Seoul. They presented a court issued arrest warrant for President Yoon Suk yeol and confronted members of the Presidential Guard outside the Presidential Palace. Law enforcement officers attempted to enter the official residence and collided and pushed with obstructing personnel. The South Korean police have begun to drive away and obstruct personnel from the scene. Lawyers representing Yin Xiyue, as well as members of the ruling party’s parliament and supporters of Yin Xiyue, formed an adult wall outside the official residence, blocking law enforcement officers from entering. The lawyer team led by Yin Xiyue prevented investigators from entering the official residence area at the entrance, and confronted them, claiming that the arrest warrant was illegal. The public investigation department has issued a warning stating that obstructing the execution of official duties may be considered as a current crime and may result in arrest.

On January 15th, Robert Luna, the Chief of the Los Angeles County Police Department, stated at a fire briefing on January 14th that strong winds have made the situation of the Los Angeles wildfires severe and the next 24 hours will be “very dangerous”. Currently, about 88000 residents have received mandatory evacuation orders, and over 84000 residents are in a state of evacuation warning. Luna pointed out that evacuation orders are mandatory, while evacuation warnings remind residents to prepare in advance for possible evacuations. He called on the public to take action as soon as they receive evacuation warnings.

On January 15th, the Argentine central bank issued a statement on Tuesday stating that starting from February 1st, the crawling pegged exchange rate mechanism for the Argentine peso will be reduced from 2% per month to 1%. Officials stated that recent monthly inflation and high-frequency data have confirmed expectations of a decrease in price pressure. The bank stated that the exchange rate continues to serve as a supplementary anchor for inflation expectations.

On January 15th, Egyptian President Sisi had a phone call with US President Biden. Both sides emphasized that all parties involved must strive to overcome obstacles and demonstrate necessary flexibility in order to reach a ceasefire agreement in the Gaza Strip. In a statement released on the same day, the spokesperson of the Egyptian Presidential Office, Chenavi, said that Egypt, the United States, and Qatar are currently making intensive mediation efforts to reach a ceasefire in the Gaza Strip and an agreement to exchange detained persons. In this context, the two presidents jointly call on all parties involved to overcome obstacles and demonstrate necessary flexibility in order to reach a ceasefire agreement in the Gaza Strip. Sisi emphasized that an immediate ceasefire agreement must be reached to end the serious humanitarian disaster being suffered by the people of the Gaza Strip, and to allow unrestricted and unimpeded humanitarian aid to enter the Gaza Strip, avoiding the consequences of the escalation of the conflict and its potential serious impact. Both sides also emphasized the importance of continuing to strengthen bilateral relations between the two countries in various fields during the call.

On January 15, the United Nations Office for the Coordination of Humanitarian Affairs reported in its daily report 14 local time that with the continuation of hostilities in the Gaza Strip, Palestinians in the Gaza Strip are facing danger. The Office for the Coordination of Humanitarian Affairs once again emphasizes that civilians must be protected wherever they are. According to data from the Office for the Coordination of Humanitarian Affairs, shelters for displaced persons in Gaza have been continuously attacked over the past five days. The Israeli authorities continue to reject United Nations led efforts to provide assistance to the population. In addition, road damage, unexploded ordnance, fuel shortages, and insufficient telecommunications equipment have also hindered humanitarian rescue efforts. The Office for the Coordination of Humanitarian Affairs stated that after 15 months of intense hostilities, all people in Gaza need humanitarian assistance. The urgent task is to ensure that important aid and commercial supplies can enter the Gaza Strip in a timely and large-scale manner through all available border crossings.

On January 15th, the US Energy Information Administration (EIA) announced on Tuesday that it expects the world oil market to have an average surplus of 800000 barrels per day by 2026, which is more than twice the agency’s forecast of a supply surplus of 300000 barrels per day this year. In last month’s report, EIA predicted a slight supply shortage this year. EIA predicts that oil production from OPEC member countries and non OPEC oil producing countries will increase in the next two years, while oil consumption from OECD countries is expected to slightly decrease in 2026. The institution expects that demand from China and India will continue to grow next year.