HARVARD UNIVERSITY CALLS TRUMP ADMINISTRATION LAWSUIT OVER TREATMENT OF JEWISH STUDENTS 'ANOTHER PRETEXTUAL AND RETALIATORY ACTION' FOR REFUSING TO TURN OVER CONTROL OF THE SCHOOL TO THE GOVERNMENT

Domestic News 1. Li Qiang issued important instructions on the national spring agricultural production work, emphasizing the need to ensure a stable and secure supply of grain and other important agricultural products at a high level. 2. The draft Financial Law is open for public comment. 3. The Ministry of Commerce released 16 measures to promote the export of travel services and expand inbound consumption. 4. Tesla plans to purchase Chinese photovoltaic equipment? The company responds: This is indeed the case. 5. The People's Bank of China and the State Administration of Foreign Exchange issued the "Administrative Measures for Overseas Lending by Domestic Enterprises". 6. The People's Bank of China and the State Administration of Foreign Exchange: The macro-prudential adjustment coefficient for overseas lending by domestic enterprises will be raised from 0.5 to 0.6, increasing the overall upper limit for overseas lending balances. 7. The Ministry of Commerce responded to the so-called "economic security review" remarks by Mexican officials: Opposing the politicization of economic and trade issues. 8. The Shanghai Stock Exchange accepted the IPO application of Unitree Technology Co., Ltd. for the Science and Technology Innovation Board. International News 1. Traders expect a 50% probability of a Fed rate hike before the end of October, with a possible rate hike in December. 2. Federal Reserve Governor Bowman stated that he still expects three interest rate cuts in 2026. 3. Indian media: Iran may allow more Indian ships to pass through the Strait of Hormuz. 4. International Energy Agency: Restoring oil and gas supplies from the Gulf region could take six months. 5. The United States is deploying three warships and thousands of troops to the Middle East. 6. The Houthi rebels in Yemen claim they may block the Bab el-Mandeb Strait. 7. A spokesman for the Iranian Islamic Revolutionary Guard Corps was killed in an attack. 8. Trump is considering risking the capture of Kharg Island to force Iran to reopen the straits.

Shares of Contemporary Amperex Technology Co. briefly hit a record Hong Kong premium over China's mainland listings after strong earnings and energy supply shocks. HK shares rose ~35% versus 16% for Shenzhen shares, pushing the gap to 46%, exceeding levels last July. Morgan Stanley notes a 10% premium is typical versus peers like Taiwan Semiconductor Manufacturing Co. and BYD Co., implying current highs may be unsustainable.