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Citigroup slightly lowered South Korea's GDP growth forecast to 1.5% next year. It is expected that the Bank of Korea will cut interest rates next month. Citigroup released a report saying that considering the worse economic sentiment in South Korea this month, it slightly lowered its GDP forecast for this year and next year by 0.1 percentage point to 2.1% and 1.5% respectively. The bank slightly lowered Korea's GDP growth forecast for the last quarter of this year by 0.1 percentage point to rise by 0.3% quarterly, and raised its GDP growth forecast for the first quarter of next year by 0.1 percentage point to rise by 0.6% quarterly. Looking forward to the first quarter of next year, the bank expects South Korea to adopt a combination of expansionary policies, including the Bank of Korea's expected interest rate cut to 2.75% in mid-January, and the government's expected additional budget of 30 trillion won (equivalent to about 1.1% of GDP next year). It is expected that the Bank of Korea will cut interest rates by 25BP each in January, April, July and October next year, and the final interest rate is expected to be 2%.India's NIFTY 50 index fell, with the latest drop of 0.1%.Shanghai Headquarters of the Central Bank: The amount of cross-border RMB settlement in Shanghai in November was 2,491.8 billion yuan. According to the news of Shanghai Headquarters of the Central Bank, as of the end of November, there were 102 banks in Shanghai that submitted information on cross-border RMB settlement business, with a settlement amount of 2,491.8 billion yuan in November and a cumulative settlement amount of 27,151.9 billion yuan from January to November.

The deposit interest rate is declining, and the interbank deposit receipt fund is popular. Under the background of the current downward trend of non-bank interbank deposit interest rate, the interbank deposit receipt rate is relatively more attractive, and the interbank deposit receipt fund has recently gained the popularity of funds. On December 12, Hongta laterite fund announced that the company held a meeting of fund share holders of the 7-day holding fund of Hongta laterite CSI interbank deposit certificate AAA index by means of communication to review the proposal on matters related to the continuous operation of the fund. Previously, the fund had a net asset value of less than 50 million yuan for 60 consecutive working days. However, the fund shares voted at the fund share holders' meeting were less than half of the total fund shares on the equity registration date, and failed to meet the effective meeting conditions. On December 5th, the 7-day holding period of the AAA index of China National Securities Interbank Deposit Certificate also announced the convening of the holders' meeting on the continuous operation of the fund, and the fund manager proposed to continue to operate the fund. (CSI Taurus)Extreme Vietnam insider: Xia Yiping still stays in the company's on-site office and is seeking financing. On the morning of the 12th, Xia Yiping, CEO of Extreme Vietnam, appeared in the company's headquarters office. Xia Yiping said that he appeared first to prove to employees that he had not run away, to tide over the difficulties with the company, and second to communicate with employees face to face. Network video shows that Xia Yiping is surrounded by many employees. The demands of employees mainly include paying social security, medical insurance and provident fund, paying wages and giving employees "N+1" compensation. Xia Yiping responded that knowing that everyone is very angry, everyone has followed us for so long, and I am very grateful. "These problems are being solved. Now I am communicating with you. If I escape, I will not come." Some employees in Vietnam confirmed this statement. "His main task at present is financing, and he is also actively contacting investors for help." Insiders revealed. (The Paper)Market News: NVIDIA has increased its recruitment in China, focusing on artificial intelligence to drive cars.

Market News: NVIDIA has increased its recruitment in China, focusing on artificial intelligence to drive cars.Lan Foan met with World Trade Organization Director-General Ivira. On December 9, 2024, Minister Lan Foan met with World Trade Organization Director-General Ivira in Beijing. The two sides exchanged views on enhancing the transparency of subsidy policy, supporting the operation of global trust funds and maintaining the multilateral trading system.Institution: The battery price stabilized in November, and it is expected to rise slightly in 2025. On December 12, according to the latest research of TrendForce Jibang Consulting, in November 2024, the sales of electric vehicles in China continued to increase, which boosted the demand for power batteries, and the price of Ferrous lithium phosphate batteries remained stable, while the ternary batteries declined slightly. The demand for batteries in the energy storage market maintained the peak season characteristics, and with the price advantage of large-capacity batteries, the proportion of shipments increased. However, the average price of energy storage batteries continued to decline in November due to the slowdown in demand for orders at the end of the year. The agency expects that the price of some lithium battery materials may rise slightly in the peak season of 2025, which is expected to repair the serious losses of the company in the early stage. However, due to the fact that the relationship between supply and demand has not changed from surplus to shortage, the expected increase in material prices is limited, and battery manufacturers actively control costs, the battery price trend will be stable next year.