SK Hynix announced it will invest 38.4 billions USD to expand its chip business in South Korea. The company plans to invest 19.1 trillion won (13.47 billions USD) in the M17 chip plant in Cheongju, with the investment expected to be completed by 2031. Additionally, the company intends to invest 35.2 trillion won (approximately 24.9 billions USD) in the second phase of chip plant construction in Yongin.

Economists expect US non-farm payrolls to increase by 55,000 in August.

Oil tanker tracking agency TankerTrackers said on Sunday that the average daily crude oil shipments through the Strait of Hormuz over the past seven days stood at 3.8 million barrels. The agency noted that this figure has declined from the 9.8 million barrels per day recorded during the period when the Iran-US memorandum of understanding was in effect, although that memorandum was actually valid for only 25 days.

Walsh shakes the market with his debut at Jackson Hole, September rate hike probability soars to 60% overnight

Economists expect the U.S. Bureau of Labor Statistics’ monthly employment report, to be released on Friday, will show an increase of 55,000 nonfarm payroll jobs in August, following a surprise decline in July. If so, this result would roughly align with the average monthly increase so far this year. The unemployment rate is expected to remain at 4.1%. Analyst Anna Wong noted that Waller’s hawkish speech at Jackson Hole has raised the likelihood of a rate hike in September and changed market exp