RMB Surges as Fed Signals September Rate Cut

MACROECONOMY
RMB Surges as Fed Signals September Rate Cut
On 28 Aug-25, the offshore RMB spiked over 340 pts to 7.1182/USD, its strongest since Nov-24, supported by steady FX policy, strong equity inflows, and Fed easing bets. Fed Governor Waller openly backed a 25 bps cut in Sep and further cuts within 3–6 months, citing slowing labor markets and inflation near 2%. Market odds of a Sep cut hit 89% (LSEG), with 55 bps easing expected by year-end. Analysts see potential RMB return to the “6” handle if PBoC maintains market-based guidance and US easing materializes. （东方财 富网）

COMPANY
No Export Permit Extension for PT Freeport Indonesia (PTFI)
The Energy and Mineral Resources Ministry will not extend PTFI’s copper concentrate export permit, set to expire on 16 Sep-25. The govt. considers the previous extensions, granted due to force majeure from the Oct-24 Gresik smelter fire, sufficient, as repairs are expected to be completed within six months. Evaluation is ongoing before the permit’s expiry. (Emitennews) 

Fore Kopi Indonesia (FORE) Injected IDR 12.1 Bn into Subsidiary Fore Bakery Indonesia (FBI)
FORE injected IDR 12.1 bn into FBI on 27 Aug-25 to maintain its 99.955% stake. The capital increase raises FBI’s paid-up capital to IDR 22.16 bn from IDR 10 bn and will support its business operations. The transaction is categorized as an affiliate deal under POJK 42/2020. (Emitennews)