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It is reported that the European Central Bank is considering cutting interest rates by 25 basis points in the next two meetings. According to informed sources, as the inflation rate stabilizes at the target of 2% and economic growth is sluggish, ECB officials plan to cut interest rates by another 25 basis points in January, and there may be another one in March. People familiar with the matter said that as long as the economic development meets current expectations, gradually reducing the borrowing cost is the most appropriate path. They believe that cutting interest rates by 50 basis points at a time in an emergency is still an option, but this move may convey an unexpected sense of urgency. According to people familiar with the matter, officials have not yet made any decision, and every meeting will be evaluated based on all available information, even after March. They stressed that once the situation becomes clearer after Trump takes office in January, the policy inclination of the central bank may change.Two States in the United States sued Glock, a gun manufacturer, for ignoring the design flaw that "pistols can easily become machine guns". On the 12th, the prosecutors in New Jersey and Minnesota respectively sued Glock, an Austrian weapons manufacturer, accusing the pistol manufactured by them of design defects and being easily converted into illegal machine guns. According to the complaint, Glock knew this situation for a long time, and continued to sell this pistol to the United States and profit from it, which promoted the proliferation of gun violence in the United States. (Xinhua News Agency)Market News: It is reported that Iraq's strategic wheat reserve is enough to meet the consumption for more than six months.

Turkish President Erdogan met with US Secretary of State Blinken in Ankara.Sixteen people have been sentenced for the anti-corruption storm in football. Since Li Tie, the former head coach of China Men's Football Team, was investigated in November 2022, a new round of anti-corruption storm has blown up in China football. The storm has become more and more fierce, involving not only players gambling and bribery at the top of the club, but also corrupt elements at the top of the Football Association and even the General Administration of Sports. Today, Li Tie's case and Du Zhaocai's case, the former vice chairman of the Chinese Football Association, were pronounced in the first instance. Up to now, 16 people have been sentenced in China football (Beijing Daily)The self-built valuation model of bank wealth managers has met with "standardization": some institutions have re-adopted the strategy of excess return of the bank's tier-2 capital bonds with the valuation system of China Securities and China Securities, and recently, the regulatory authorities issued a document to the bank wealth management subsidiary, demanding that the self-built valuation model should not be used to smooth the net value fluctuation, and the valuation standards provided by third parties such as China Securities and China Securities should be adopted, and self-inspection and rectification should be carried out. The purpose of this move is to prevent the bank's wealth management subsidiaries from adjusting product income through self-built models, and to carry out "fund pool" business in disguise to ensure market fairness. At present, a number of bank wealth management subsidiaries have received this document, and have begun to adjust the net value calculation methods of day-opening and closed wealth management products, and re-adopt third-party valuation for investment products such as bank tier 2 capital bonds. A person from a bank financing subsidiary told reporters that he heard that the financial supervision department held a small-scale meeting last week, asking the bank financing subsidiary to respect the new asset management rules and not to violate accounting standards. In addition, the relevant departments also require the financial subsidiaries of banks that have used the self-built valuation model to carry out rectification, and the financial subsidiaries that have been notified shall submit corresponding rectification plans and measures reports within one month. In the view of the above-mentioned bank wealth managers, it is not excluded that some bank wealth management subsidiaries have lowered the allocation ratio of bank tier-2 capital bonds due to the influence of regulatory policies, because when the self-built valuation model is "standardized", the strategy of over-allocating bank tier-2 capital bonds to obtain excess returns becomes increasingly difficult when the net product value fluctuates relatively smoothly. (per meridian)

Banks prepare for personal pension account opening. Marketing insurance companies lay out early to seize the opportunity. The year-end and year-end are the last moment of personal pension annual payment. On December 12, the personal pension system ushered in expansion. The Ministry of Human Resources and Social Security and other five departments issued the "Notice on the Full Implementation of the Personal Pension System", saying that since December 15th, the personal pension system has been pushed from 36 pilot cities (regions) to the whole country. The reporter learned that as the "entrance" of individual pension accounts, banks are actively preparing for account opening marketing. For example, many banks have launched preferential activities for opening accounts and paying personal pensions by appointment, and activities such as reduction of funds, payment ceremony and lottery withdrawal have taken turns. As an in-depth participant in the individual pension system, insurance companies have also made positive statements and will seize the historical opportunity to participate more deeply in the construction of the third pillar of the pension system. (SSE)Daiwa Securities SMBC Co., Ltd. downgraded Xinao Energy to Hold with a target price of HK$ 56.The Hang Seng Index closed down 1.23% overnight at 20,219.000 points. The Hang Seng Technology Index closed down 1.41% at 4,556.00 points overnight.