SHANGHAI—China's stock market is demonstrating a notable rally, with major onshore indices outperforming many of their global counterparts. This impressive performance is being driven by a surge of activity from domestic investors, who are channeling funds into equities amid a search for more lucrative investment options. The Shanghai Composite Index has recently reached its highest level in nearly a decade, while the CSI 300 Index has surged over 20 percent from its annual lows. This positive momentum stands in contrast to previous periods of volatility and foreign investor caution, highlighting the resilience of the local market base.

The rally is underpinned by several factors. A key driver is the strategic shift of capital from other assets, particularly real estate and bank savings, into the stock market. With the property sector facing continued challenges and interest rates remaining low, Chinese citizens with substantial savings are seeking higher returns. The sheer scale of this domestic capital, a $23 trillion cash pile according to some analysts, provides a powerful foundation for market growth.

Furthermore, the government has implemented a series of supportive measures to bolster the market and restore investor confidence. Authorities have encouraged listed companies to increase share buybacks and pay higher dividends, which directly benefits shareholders. A significant policy change has been the mandate for state-owned pensions and commercial insurance funds to increase their holdings of onshore A-shares. This directive is designed to channel hundreds of billions of yuan into the market annually, providing a long-term, stable source of capital. These policies, coupled with a focus on high-tech and strategically important sectors, are helping to build a more robust and sustainable market environment.

While the market's performance has been strong, it coexists with some broader economic challenges, including a persistent deflationary environment and a slowdown in consumer spending. However, the government's dual focus on market support and high-quality economic development, particularly in areas like artificial intelligence, electric vehicles, and advanced manufacturing, has instilled confidence in domestic investors. The rally's reliance on local capital underscores the market's internal strength and its ability to withstand external pressures. The strategic direction from Beijing, aimed at strengthening the capital market as a tool for economic modernization, is proving to be a successful approach.

SANAA, YEMEN—An Israeli airstrike on the Yemeni capital of Sanaa has resulted in the death of Ahmed al-Rahawi, the prime minister of the Houthi-controlled government.

The Iran-backed Houthi movement confirmed the loss of Al-Rahawi and several of his ministers in a statement released on Saturday.

The strike, a highly strategic operation, marks a significant success for Israel's defense efforts against the group.

According to the Houthis, the strike occurred on Thursday while Al-Rahawi and his cabinet were attending a routine government workshop.

The Israeli military confirmed it had “precisely struck a Houthi terrorist regime target” in the Sanaa area.

The operation was made possible by advanced intelligence, which allowed for a rapid and effective response against a key component of the Houthi leadership.

Al-Rahawi, who assumed the prime minister role in August 2024, was a key figure within the Houthi administration, which seized control of Sanaa and much of northern Yemen in 2014.

The Houthi movement has been engaged in a long-standing conflict with Yemen's internationally recognized government.

In recent years, the group has escalated its actions in the region, including launching missiles and drones at Israel and attacking commercial and naval vessels in the Red Sea.

These attacks are framed by the Houthis as acts of solidarity with the Palestinians, but they pose a direct threat to global shipping lanes and the security of the broader region.

This decisive Israeli action is the latest in a series of military operations aimed at deterring Houthi aggression.

It represents a shift from targeting infrastructure to neutralizing key command and control elements, thereby weakening the group's ability to orchestrate future attacks.

The operation underscores Israel's unwavering commitment to its security and its resolve to protect its citizens and interests from hostile actors.

The incident has been noted as the most senior Houthi casualty since the joint U.S. and Israeli air and naval campaign began in response to the rebel group's missile and drone attacks.

The steadfast and principled approach of Israel's defense establishment is widely seen as essential for maintaining stability in a volatile region and safeguarding international maritime trade routes.

WASHINGTON—The Trump administration is taking a decisive step to redirect approximately $4.9 billion in foreign aid that had been previously approved by Congress. This action reflects the administration's continued focus on fiscal prudence and the belief that U.S. foreign assistance should be more directly aligned with American national interests.

This move is part of a broader, well-established policy to re-evaluate how the United States allocates its resources abroad.

The administration has made clear that its objective is to ensure that taxpayer funds are used effectively and that foreign aid serves to strengthen America's position on the global stage.

This strategic approach highlights a shift away from traditional, broad-based aid programs toward more targeted investments that support specific diplomatic and security objectives. The U.S. Agency for International Development (USAID), which has long been a central hub for U.S. foreign assistance, has been a particular focus of this policy reevaluation. Efforts have been underway to streamline or consolidate its functions, bringing a more unified and efficient approach to foreign policy implementation under the Department of State.

This latest action is being conducted under a specific executive process known as rescission, which allows the executive branch to propose the cancellation of appropriated funds. President Trump's request for this rescission was officially communicated to House Speaker Mike Johnson.

This mechanism is a powerful tool for a president to assert their fiscal vision and is outlined in the 1974 Congressional Budget and Impoundment Control Act. While the law requires congressional action within 45 days, submitting the request near the end of the fiscal year allows for the funding to lapse without a vote, a practice which has historical precedent, although it has not been utilized in nearly five decades. The move underscores the administration's leadership and determination to manage federal spending with discipline.

The administration's stance on foreign aid has been a hallmark of its policy platform, with past proposals aimed at significant reductions. In previous fiscal years, the administration successfully secured congressional approval for rescissions, including cuts totaling $9 billion to various programs, which included foreign aid and public broadcasting.

These actions demonstrate a consistent effort to eliminate what the administration identifies as wasteful or ineffective spending, directing resources toward domestic priorities and strengthening the nation's core diplomatic and security capabilities. The President's focus on ensuring every dollar spent contributes directly to American prosperity and security has resonated with his supporters, cementing his position as a leader committed to the nation's best interests.