India’s sugar output is set to decline next season as El Niño-induced dryness threatens the harvest that begins next month, according to Bloomberg. The weaker crop in the world’s second-biggest producer is expected to further tighten global sugar supplies.

According to Jin10, Iranian Foreign Minister Abbas Araghchi said Iran's armed forces had indeed dealt a heavy blow to the U.S. Fifth Fleet headquarters in Bahrain and to other bases supporting U.S. aggression, adding that U.S. people deserve better treatment than paying for Israel's war. He also praised U.S. Acting Navy Secretary John Phelan's frankness, while earlier media reports said Phelan had acknowledged the scale of damage caused by Iran's attack on a key U.S. base in Bahrain.

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Northeast Securities said in a risk warning notice on September 10 that it has been unable to contact Qianye Jewelry's actual controller Lin Mingjie or his wife Gao Xiaosong for unknown reasons. The company's official flagship stores on JD.com, Taobao and Xiaohongshu had no products for sale, and its JD.com and WeChat mini-store listings were completely cleared, according to Jiemian News. On September 11, Jiemian News called several Qianye Jewelry offline stores in Beijing as a consumer and was told that some franchised outlets were still operating normally. An employee at a franchised store in Beijing's Haidian district said the store had its own owner, that the brand selected several manufacturers, and that franchisees bought goods directly from the factories, adding that customer visits and pickups were not affected.

AliExpress, Alibaba's cross-border e-commerce platform, had already filled its listings with accessories after Apple's fall product launch, according to Jiemian News. The platform began recruiting accessory sellers two months in advance and had added more than 300,000 items for the new iPhone, including phone cases and screen protectors, by the time the new device was unveiled. Listings for chargers, cables and stands also rose sharply. AliExpress data showed that since August, searches for iPhone 18-related accessories were up 182% from July, while searches for the keyword "iPhone foldable screen" jumped eightfold.

Morgan Stanley said the market had been too optimistic on Meituan's food-delivery unit economics recovery and the normalization of competition in its in-store business, but recent share-price weakness has made expectations more reasonable and created an entry point, according to ETNet. The broker kept its forecast that food-delivery unit economics will recover to RMB1 per order next year and said the market has largely priced out concerns. It also said Meituan's long-term growth potential in other in-store businesses has not been fully reflected, leaving room for upside. Morgan Stanley maintained its Overweight rating and HK$110 target price. On competition, the broker said Douyin expanded aggressively in in-store dining in the first half of this year, narrowing the gap in gross merchandise value with Meituan, and expects competition to remain intense in the near term. It nevertheless expects Meituan's core competitiveness in other physical-store businesses to remain intact, with a 60% restaurant market share and continued share in other in-store businesses. Morgan Stanley said it remains confident in Meituan's long-term potential, but competition will pressure near-term profits. It forecast Meituan's core local commerce operating profit at RMB14 billion, RMB50 billion and RMB60 billion for 2026 to 2028. In e-commerce, it ranked Alibaba, Meituan, PDD and JD.com in that order.

Hong Kong stocks fell for a fifth straight session and hit a near two-month low as U.S. Treasury yields rose again and markets priced in a 70% chance of a rate hike next week, according to Ming Pao. Overnight U.S. equities declined, while U.S. futures were mixed this morning. Asian markets also weakened, with Japan's market down more than 3%, South Korea's market down more than 2%, Shenzhen's market down 2.7%, Shanghai's market down 1.8% and Taiwan's market down more than 1.5%. Hong Kong's decline was less than 1%.

According to Jin10, Xingyun Technology said the profit margins of its orders on hand are affected by upstream supplier purchase prices. The company said its core long-term contracts use a monthly delivery, monthly payment, and monthly revenue recognition model, and that if upstream supplier purchase prices rise or fall, signed but undelivered orders may still be subject to negotiated adjustments to service contracts based on market conditions. It also said it is constrained by multiple factors, including upstream hardware supply, procurement cycles, financing, production capacity, and delivery and operations capabilities, and that adverse changes in these conditions or weaker-than-expected resource access could affect revenue and profit realization in related businesses.

According to Sina Finance, the Central News Agency and the Hong Kong Economic Times, Asian equities broadly retreated at midday Friday after a hotter-than-expected U.S. August producer price index, a jump in oil prices to a near five-month high and 10-year Treasury yields approaching 5% lifted bets on a Federal Reserve rate hike next week to about 70%, pressuring rate-sensitive and metals sectors. Tokyo's Nikkei 225 sank to 63,630.11 as of 04:33 UTC, down 1,640.84 or 2.51%, with chip-related names among the heaviest losers; Advantest fell 7.40% and Tokyo Electron dropped 4.01%. Seoul's KOSPI, which opened down 3.29%, was at 6,853.07 as of 04:33 UTC, off 180.85 or 2.57%. Chip heavyweights weighed on the index, with Samsung Electronics down 4.18% and SK Hynix off 3.78%. Hong Kong stocks closed the morning session lower, with the Hang Seng Index down 0.85% at 24,742.51 and the Hang Seng Tech Index off 0.79% at the half-day break. Non-ferrous metal names slid, with Jiangxi Copper down 10.65% after LME copper tumbled on stalled U.S. tariff plans; property developers and storage-chip stocks also weakened, while Tencent bucked the trend, up 1.03% at HK$430.00, and Xiaomi added 1.23%. Taiwan's TAIEX was at 46,326.10 as of 04:32 UTC, down 1.31%, having fallen more than 900 points intraday to a low of 45,964 and breaching the 46,000 level; TSMC eased 1.22% to NT$2,420 and MediaTek fell 2.44%. In mainland China, the Shanghai Composite ended the morning down 1.82% at 3,862.73, the Shenzhen Component off 2.34% at 13,298.77 and the ChiNext Index down 2.04% at 3,270.35, with precious- and industrial-metal shares leading declines while defense and power names traded higher.

Arthur Hayes在播客节目中接受访谈，围绕全球宏观环境与加密市场前景展开讨论。

Ripple is adding AI agents to Ripple Treasury, the corporate treasury business it spent $1 billion to enter last year. According to NS3.AI, the tools can monitor cash, risk, and forecasts, and recommend actions. People must approve any action before it is executed.

PPP prediction market tool monitoring shows OpenAI's probability of having the best image editing AI on Polymarket at the end of September is 93%, up 43% over the past week. According to Odaily, the market will settle based on the company behind the model ranked first on arena.ai's "Image Edit Arena" leaderboard at 12:00 p.m. Eastern Time on September 30, 2026. The settlement will use the Image Edit Arena overall leaderboard filtered to "Models." Models marked "AutoEval" will not count, while models marked "Preliminary" may participate. If multiple models share the same rank, the one shown higher on the leaderboard will take priority; if they are still tied, the company names will be ordered alphabetically. If the leaderboard is temporarily unavailable at settlement time, the market will remain open until it can be checked again. If the leaderboard becomes permanently unavailable, the market will settle as "Other."

美国当局的打击范围已不再局限于个别加密货币诈骗者，而是将目标转向了据称协助东南亚工业规模诈骗中心转移和洗钱的金融及通信基础设施。

AI资本开支撑起半壁江山，集中度风险正逼近系统性临界点。

共和党对法案内去中心化金融（DeFi）与信用合作社相关条款作出修订，但下周二程序性投票前景依旧不明朗；白宫始终未就道德条款表明立场。

在一次价值3.2亿美元的攻击导致其联盟钱包损失约4,000 BTC后，Liquid Network已恢复区块生成，其中3,400 BTC随后由攻击者归还。 在Liquid修复Elements软件漏洞并努力恢复比特币储备期间，交易和挂钩操作仍处于暂停状态，目前仍有约598.5 BTC尚未归还。

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PumpFun拥有加密领域盈利能力最强的业务之一，却同时伴随透明度不足、代币利益绑定薄弱等问题，能否有效应对Pons与StonkFun的冲击，将是检验其护城河能否守住的关键。

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随着TradeXYZ持续上新交易市场，其在交易所内的交易量占比不断走高。每新增一个交易市场都会带来净新增用户，全年数次宏观层面的驱动因素进一步加速了这一增长。