[3-Min Brief] Gas Prices Are Strange... Approaching 100 Dollars

[3-Minute Brief Summarized in 3 Seconds]
International Oil Prices Expected to "Surpass $100"
Can US Amazon Find Its 'Fourth Pillar'?
Japanese Farming Households Disappear... Over 80% Decline by 2050

Two-Line News

■ International Oil Prices Hit Yearly High... WTI Closes Up 0.8% at $91.5
○ Prices continue to rise due to Saudi Arabia's production cuts
○ Major banks including Citigroup also forecast "short-term $100 per barrel"

☞Read article: https://view.asiae.co.kr/article/2023091906580100779

■ "Every Touch Worsens Performance"... Amazon Struggles to Find Fourth Profit Business
○ Amazon has been searching for next-generation core businesses for years but keeps stumbling
○ Online shopping, paid memberships, and cloud computing are the three main pillars... accounting for 90% of total sales
☞Read article: https://m.asiae.co.kr/article/2023091814201039095

■ Stocks in 2050: Sweet Potatoes and Potatoes?... Japan’s Sense of Crisis Over Disappearing Farms
○ Japan, facing serious low birthrate and aging population, is projected to see over 80% decline in agricultural population by around 2050
○ Japan’s Ministry of Agriculture, Forestry and Fisheries’ hypothetical diet: "Breakfast with 2 roasted sweet potatoes, 1 slice of bread, salad, and fruit"
☞Read article: https://m.asiae.co.kr/article/2023091815200223490

■ Despite Revived Consumption... Why China’s Economic Rebound Remains Hard to Be Optimistic About
○ China’s consumption and production, which had been deteriorating, showed slight rebound last month... "The bottom has been reached," some say
○ However, counterarguments remain citing "chronic local government debt and low productivity as structural flaws"
☞Read article: http://m.asiae.co.kr/article/2023091818071837162

■ Hot IPO Demand Forecasts... Offering Prices Exceed Expected Ranges
○ IPO market heats up this month... KOSDAQ demand forecasts show offering prices above the upper limit of expected ranges
○ Newly listed stocks that entered the market last month have outperformed their offering prices, increasing interest in new IPOs
☞Read article: https://m.asiae.co.kr/article/2023091816210429365

MARKET INDEX

○ Ahead of Wednesday’s Federal Reserve (Fed) Federal Open Market Committee (FOMC) meeting, markets closed slightly higher
○ Apple, the largest market cap company, rose 1.69% from the previous session on optimistic demand outlook for the new iPhone
○ Oil price rise continued, lifting major energy stocks like ExxonMobil, Chevron, and Valero Energy

☞Read article: https://m.asiae.co.kr/article/2023091905271140325

What Others Bought: Manager Kim Put This in His Pension Savings

○ Both pension savings and retirement pensions (IRP) offer tax deduction benefits, leading to increased subscriptions toward year-end
○ "Should I contribute up to 9 million KRW?"... From this year, the tax deduction limit for pension savings contributions has been raised to 9 million KRW

Graphic News: Japan Gradually Opens Its Wallet

○ Japan, long trapped in a deflationary slump, is awakening from a deep sleep centered on 'consumption'
○ Real GDP (seasonally adjusted) in Q2 rose 1.5% from the previous quarter, more than double that of South Korea
○ If the current trend continues, South Korea’s annual growth rate may be overtaken by Japan for the first time since the 1998 financial crisis

Terms in the News: UK's EU Exit and Regret 'Bregret'

○ A neologism combining Brexit and regret, 'Bregret'
○ After Brexit, the UK has struggled with pound depreciation, soaring import prices, and rising corporate costs
○ A survey of about 2,000 Britons in July showed many responded that "the Brexit decision was wrong"

[Image source=AFP Yonhap News]

☞Read article: https://cm.asiae.co.kr/article/2023091814484916260

Attention! Today’s Schedule

○ Domestic Main Schedule
- 10:00 Cabinet Meeting
- 14:00 Ministry of Economy and Finance, Mid- to Long-Term Strategy Committee Full Meeting
- 16:00 Ministry of Economy and Finance, On-site Inspection for Price Stability and Livelihood Support for Chuseok

○ Public Offering, Investment, Subscription

- 'Hanssak, Revu Corporation' Public Subscription (9.19~20)
- Neowiz, Global Launch of New Game 'P’s Lie'
- Daewoo E&C, First Priority Subscription for Busan 'The Beach Prugio Summit'
- POSCO Group, Closing of Recruitment for Second Half New Employees

○ Overseas Trends
- 18:00 Eurozone Consumer Price Index (CPI) for August
- 21:55 US Redbook Retail Sales Index
- Time TBD Japanese Prime Minister Kishida attending UN General Assembly in the US (Sept 19?21)
- Time TBD Chinese Communist Party Foreign Minister Wang Yi visits Russia (China-Russia Strategic Security Consultation until 21st)
- Time TBD OECD Interim Economic Outlook Report Release
- Time TBD President Biden’s UN General Assembly Speech (Time not announced, UN Headquarters, New York City)

◇Lunch & Commute Weather

○ Lowest Temperature 20℃ (0℃) ｜ Highest Temperature: 27℃ (1℃▼)
○ Precipitation Probability Morning 30%｜Afternoon 40%
○ Fine Dust Morning Good｜Afternoon Good