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Turkey imposes additional tax on Iranian flat glass imports.Pakistan KSE-100 index rose 1% to 112,128.50.Pakistan KSE-100 Index rose 2% to 113,268.80.

Citigroup slightly lowered South Korea's GDP growth forecast to 1.5% next year. It is expected that the Bank of Korea will cut interest rates next month. Citigroup released a report saying that considering the worse economic sentiment in South Korea this month, it slightly lowered its GDP forecast for this year and next year by 0.1 percentage point to 2.1% and 1.5% respectively. The bank slightly lowered Korea's GDP growth forecast for the last quarter of this year by 0.1 percentage point to rise by 0.3% quarterly, and raised its GDP growth forecast for the first quarter of next year by 0.1 percentage point to rise by 0.6% quarterly. Looking forward to the first quarter of next year, the bank expects South Korea to adopt a combination of expansionary policies, including the Bank of Korea's expected interest rate cut to 2.75% in mid-January, and the government's expected additional budget of 30 trillion won (equivalent to about 1.1% of GDP next year). It is expected that the Bank of Korea will cut interest rates by 25BP each in January, April, July and October next year, and the final interest rate is expected to be 2%.Citigroup: Pinduoduo, which operates retail platform Temu, is likely to continue to face short-term disadvantages. Maintain the neutral rating of ADR in Pinduoduo and set the target price of ADR in Pinduoduo at $125.00. Note: The latest ADR report in Pinduoduo is $103.42.India's SENSEX30 index opened 0.06% lower at 81,476.76 points. Among the constituent stocks, State Power of India opened 0.79% higher, Mahengda Information Technology rose 0.56%, and Tata Motors rose 0.5%; In terms of decline, HDFC BANK opened 0.74% lower, Bharti Telecom fell 0.68%, and Unilever of India fell 0.53%.

A former employee of Adebio was sentenced and involved in AstraZeneca employees' insurance fraud case. A former employee of the genetic testing company Aidebio, which worked closely with AstraZeneca, committed medical insurance fraud together with AstraZeneca sales staff during his tenure in the company. He was sentenced to three years' imprisonment and fined for fraud, and I pleaded guilty. A judgment obtained shows that Ma, a former employee of Aide Bio involved in the case, conspired with AstraZeneca employees to tamper with the genetic test report during his tenure. He began to accept public security investigation in September 2021 and was sentenced in August 2023. However, on December 9, 2024, the company replied that "there is no problem (cooperation with AstraZeneca), which has no impact on us and has nothing to do with us" and denied that any employees were involved. (financial magazine)Yamato: Raising the target price of IWC to HK$ 20 has a more positive view on next year's revenue growth. Yamato published a report that under the strong demand from Malaysia, the bank has a more positive view on IWC's revenue growth next year. In addition, the bank believes that the external financing of operating GDSI, a data center outside the mainland, will release shareholder value. However, as GDSI will be separated from IWC's consolidated statements in the fourth quarter of this year, the bank believes that IWC's short-term re-evaluation will still mainly depend on its mainland business performance, so it still maintains a wait-and-see attitude. The bank maintained its "hold" rating on IWC, and its target price was raised from HK$ 8.6 to HK$ 20. Considering the increase in capital expenditure of IWC from 2025 to 2026, the bank raised its revenue forecast for this year and next by 5% to 24%, mainly due to the strong demand in the international market driven by short video platforms. In addition, in view of the fact that the company raised its capital expenditure guideline from 6.5 billion yuan to 11 billion yuan this year, the bank raised its capital expenditure forecast from 6.7 billion yuan to 11 billion yuan in 2024 and from 3.5 billion yuan to 10.5 billion yuan in 2025. In addition, the bank will raise the adjusted EBITDA forecast of IWC this year and next by 4% to 13% to consider the EBITDA contribution of its overseas business; It is estimated that the total revenue will increase by 15% this year (10% compared with the previous forecast) and 33% next year (15% compared with the previous forecast). The adjusted EBITDA is expected to increase by 11% and 25% this year and next (8% and 15% compared with the previous forecast).Another ruling party member supported the impeachment of Yin Xiyue. On the morning of 12th local time, Zhongwu Qin, a famous Korean shooter, Olympic champion and member of parliament of the ruling National Power Party, expressed his support for the impeachment of President Yin Xiyue. At present, six members of parliament of the ruling party have publicly indicated that they will support the impeachment case of President Yin Xiyue. Earlier, South Korea's ruling National Power Party MP Kim Jae-sub announced on the 11th that he would vote in favor of the next presidential impeachment case, bringing the number of ruling party MPs in favor of impeaching President Yin Xiyue to five. South Korea's pan-opposition party has 192 seats in the National Assembly. If the impeachment motion is to be passed in the National Assembly, it needs to obtain at least two-thirds majority of the total 300 seats in the National Assembly, that is, 200 votes in favor. Therefore, the opposition party needs to win at least 8 ruling party members to vote in favor. (CCTV)