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After the decline in the second quarter, the labor cost in the third quarter of the United States was revised downwards. After the decline in the previous three months, the increase in labor cost in the third quarter of the United States was lower than the initial value, further proving that the job market is no longer a source of inflationary pressure. According to data released by the Bureau of Labor Statistics on Tuesday, the unit labor cost increased at an annualized rate of 0.8% from July to September, and decreased by 1.1% after revision in the previous quarter. The initial value of labor costs showed an increase of 1.9% in the third quarter. The adjustment of these two cycles reflects the downward adjustment of hourly salary. During the period from July to September, the annual rate of productivity increased by 2.2%, which was not revised, compared with 2.1% in the previous quarter.Chief Financial Officer of Citigroup: The bank's systems and technologies have never been fully integrated.TSMC ADR fell before the market, but analysts said that the demand for artificial intelligence remained strong. TSMC ADR fell by 0.6% in pre-market trading in the United States, after the world's largest chip foundry announced its sales data for November. Analysts said that the data is a positive signal of TSMC's quarterly revenue. Bernstein analysts said that the company's revenue in October and November totaled 590 billion Taiwan dollars, accounting for 69.6% of TSMC's guidance midpoint in the fourth quarter of 2024, close to the high end of the range of 65-72% in December of the past eight years. If December follows the average seasonal factors of the past eight years, the income in the fourth quarter of 2024 will be 1.7% higher than the midpoint of the guidance interval and 1.2% higher than the market expectation.

Without the government's approval, the South Korean National Assembly passed the budget reduction bill for next year. On the 10th, the South Korean National Assembly held a plenary meeting and adopted a cut version of the 2025 budget with a total amount of 673.3 trillion won (about 3.41 trillion yuan). According to Yonhap News Agency, this is the first time that the South Korean National Assembly passed the budget without agreement between the ruling party and the opposition party. In the 300-seat parliament, 278 members voted on the budget, 183 were in favor, 94 were against and 1 abstained. The ruling National Power Party and some opposition party members voted against it. This budget is one of the focal points of the recent struggle between the ruling and opposition parties in South Korea and one of the factors inducing the current political chaos. The original budget proposed by the government was 677.4 trillion won, but the largest opposition party, the Common Democratic Party, demanded a reduction of 4.1 trillion won, mainly involving the government reserve fund, the special activity expenses of the presidential secretary's office and the national security office, the special work expenses and special activity expenses of the procuratorate and the supervision institute. (Xinhua News Agency)In the third quarter of the United States, the final value of non-agricultural unit labor cost was 0.8%, the expected value was 1.5%, and the previous value was 1.90%. The final value of unit labor cost in the third quarter of the United States increased by 0.8% from the previous month; It is estimated to increase by 1.3%.After the decline in the second quarter, the labor cost in the third quarter of the United States was revised downwards. After the decline in the previous three months, the increase in labor cost in the third quarter of the United States was lower than the initial value, further proving that the job market is no longer a source of inflationary pressure. According to data released by the Bureau of Labor Statistics on Tuesday, the unit labor cost increased at an annualized rate of 0.8% from July to September, and decreased by 1.1% after revision in the previous quarter. The initial value of labor costs showed an increase of 1.9% in the third quarter. The adjustment of these two cycles reflects the downward adjustment of hourly salary. During the period from July to September, the annual rate of productivity increased by 2.2%, which was not revised, compared with 2.1% in the previous quarter.

TSMC ADR fell before the market, but analysts said that the demand for artificial intelligence remained strong. TSMC ADR fell by 0.6% in pre-market trading in the United States, after the world's largest chip foundry announced its sales data for November. Analysts said that the data is a positive signal of TSMC's quarterly revenue. Bernstein analysts said that the company's revenue in October and November totaled 590 billion Taiwan dollars, accounting for 69.6% of TSMC's guidance midpoint in the fourth quarter of 2024, close to the high end of the range of 65-72% in December of the past eight years. If December follows the average seasonal factors of the past eight years, the income in the fourth quarter of 2024 will be 1.7% higher than the midpoint of the guidance interval and 1.2% higher than the market expectation.The opening of Yunnan Guanlei Port passed the national acceptance, and on December 10th, the opening of Yunnan Guanlei Port passed the national acceptance. It marks that the location advantage of the Lancang-Mekong River connecting the six countries will be further highlighted, effectively helping the "Belt and Road" construction to achieve new breakthroughs in Southeast Asia. The national inspection team consists of the General Administration of Customs, the Ministry of Transport, the State Administration of Immigration and the Joint Staff of the Central Military Commission. After on-site inspection, listening to reports, reading materials and centralized review, the inspection team thought that the infrastructure and inspection facilities at the port of Guanlei were perfect, in line with national standards, and had all the conditions for formal opening, and unanimously agreed to pass the inspection and sign the national inspection minutes. Located in Mengla County, Guanlei Port is the first port for Laos, Myanmar, Thailand and other ASEAN countries to enter China via Mekong River, with a designed annual cargo capacity of about 150,000 tons and a designed annual passenger transport capacity of about 100,000 passengers.Hong Kong held an insurance forum to share the advantages of a global risk management center, and the Hong Kong Insurance Regulatory Authority held the 2024 Asian Insurance Forum at the Hong Kong Convention and Exhibition Center on the 10th. Focusing on "Meeting the Challenges of Global Market Fluctuation", the forum brought together more than 400 professionals from insurance, banking and asset management, regulators, law enforcement agencies and related institutions to share the advantages of Hong Kong as a global risk management center and explore the prospects and challenges of global financial markets. (Xinhua News Agency)