【China】
🔸 Chinese Stocks Surge on Return from Holidays as Euphoria Extends. Chinese stocks listed onshore jumped as trading resumed following a week-long holiday, with encouraging home sales and consumption data giving fresh impetus to a rally sparked by Beijing’s stimulus blitz. The benchmark CSI 300 Index and SSEC Index climbed almost 11% in early trading before paring its advance. The measure h...

【The US】
🔸 Powell Says Fed Not in a Hurry, Will Lower Rates “Over Time”. Federal Reserve Chair Jerome Powell said the central bank will lower interest rates “over time,” while again emphasizing that the overall US economy remains on solid footing. Powell also reiterated his confidence that inflation will continue moving toward the Fed’s 2% targ...

【Saudi Arabia】
🔸 Saudi Arabia’s non-oil exports climb 19% in July. Saudi Arabia’s non-oil exports surged by 19.04 percent to reach SR25.38 billion (US$6.76 billion) in July, compared to the same month of the previous year, official data showed.
🔸 Aramco (ARAMCO AB) plans to raise up US$3B in 5 and 10-year sukuk, setting the price guidance for the 5 and 10-year sukuk at 120 and 135 bps ab...

As the Chinese stock market continues to perform weakly, QDII ETFs have gained favor among Chinese investors. On its first day of listing, the China Southern CSOP Saudi Arabia ETF hits the 10% daily up-limit.
The underlying ETF is the China Southern CSOP Saudi Arabia ETF. Interestingly, the energy sector does not constitute a major portion of this ETF's holdings; instea...