[3-Min Brief] Talking with Chickens, AI That Interprets "Kkokkio~"

[3-Min Brief 3-Second Summary]
US Interest Rate Hold, But Korea's Tightening Prolongs
Dongseoul Terminal Transforms into 40-Story Seoul Grand Renovation
Global Electric Vehicle Boom Sparks Japan's 'Ttukbaegi Shortage'

Two-line News

[Photo by Pixabay]

■ Talking with Chickens Using AI…Japanese Researchers Develop AI to Read Chicken Minds
○ AI system analyzes chicken clucks and reads their emotions
○ University of Tokyo researchers say experiment results show 80% accuracy in interpreting chicken language
☞Read more: https://m.asiae.co.kr/article/2023092114284319515

■ US Signals Additional Rate Hike…Bank of Korea’s Tightening Stance to Prolong
○ If the interest rate gap between Korea and the US widens, concerns over sharp exchange rate rise and capital outflow increase
○ Bank of Korea likely to maintain tightening while debating between 'pause vs hike'
☞Read more: https://m.asiae.co.kr/article/2023092110110985472

■ Dongseoul Terminal to Become a 40-Story Building Shaped Like a Sailboat…'Seoul Grand Renovation' Kicks Off
○ Mayor Oh Se-hoon’s 'Seoul Grand Renovation' project to significantly expand public spaces begins in earnest
○ Terminal to be undergrounded with a 40-story building above; waterfront resting areas to be created on the surface
☞Read more: https://m.asiae.co.kr/article/2023092115335100346

■ China Keeps 'De Facto Benchmark Rate' LPR Steady…Concerns Over Yuan Weakness (Comprehensive)
○ Moves to defend yuan exchange rate and prevent capital flight
○ Market expects additional LPR cuts within the year
☞Read more: https://m.asiae.co.kr/article/2023092010255901716

■ Unexpected 'Japanese Ttukbaegi Crisis' Amid EV Boom…"China Monopolizes Raw Materials"
○ China monopolizes Petalite mine in Zimbabwe to produce lithium batteries
○ Essential raw material for making Japanese-style ttukbaegi (earthenware pot)…local media warn of production crisis within the year
☞Read more: https://m.asiae.co.kr/article/2023092115504093655

MARKET INDEX

○ New York stock market falls amid hawkish Fed and rising Treasury yields…Nasdaq down 1.8%
○ Risk aversion strengthens due to prolonged high interest rate environment

☞Read more: https://www.asiae.co.kr/article/2023092205383394395

What Did Seohak Ants Buy: Top 5 Net Purchases in US Stocks

※ Eli Lilly: What kind of company is it and why buy it?
○ Expectations for UK approval of diabetes drug 'Mounjaro'. Also the world's largest pharmaceutical company by market cap.
○ Famous for antidepressant 'Prozac'. Competing with Novo Nordisk in the obesity treatment market.

Graphic News

○ US holds rates steady as expected…High chance Korea also pauses on October 12
○ Bank of Korea’s pressure to hike eases as the gap with US rates does not widen further
○ However, additional 0.25% hike in the US within the year is likely…Korea’s dilemma and burden continue

Weekend Book: Biography of 'Elon Musk'

○ Focuses not on a hagiography but on how he overcame dark past and achieved success
○ Includes topics like sperm donation to subordinate executives, abuse by father, bullying during school years, sparking public interest
○ Sold 90,000 copies within a week of release in the US…second only to Steve Jobs biography
☞Read more: https://m.asiae.co.kr/article/2023092111174904015

Attention! Today’s Schedule

○ Domestic
- 08:00 Minister of Economy and Finance, Emergency Economic Vice-Minister Meeting (Seoul Government Complex)
- 11:00 Prime Minister, Regulatory Reform Committee Member Appointment Ceremony (Seoul Government Complex)

○ Overseas
- 08:30 Japan Consumer Price Index (August)
- 12:00 Bank of Japan Monetary Policy Statement / Interest Rate Decision
- 15:30 Bank of Japan Press Conference
- 17:00 Eurozone Manufacturing and Services Purchasing Managers’ Index (September)
- 22:45 US Manufacturing Purchasing Managers’ Index
- 22:45 US Services Purchasing Managers’ Index
- iPhone 15 goes on sale in stores in the US, UK, China, etc.

※ One-line Comment
"Japan is the only major country operating short-term interest rates at -0.1%...Financial easing continues, and the negative interest rate policy is expected to be maintained."

◇Lunch & Commute Weather

○ Lowest temperature 15℃ (3℃▼) ｜Highest temperature: 26℃ (2℃▲)
○ Precipitation probability 10% in the morning｜0% in the afternoon
○ Fine dust Good in the morning｜Good in the afternoon

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☞https://www.asiae.co.kr/newsletter-list/3minbrief

This content was produced with the assistance of AI translation services.