Key Events Around the Globe: March 11

China Pins Hopes on Society Wide AI Push to Add Jobs, Rejuvenate Economy

China’s scramble to adopt artificial intelligence will spawn new jobs and propel the world’s second largest economy, say policymakers and company executives, as they play down growing global fears that the technology could stunt employment.

Plans unveiled at the opening of parliament’s annual session last week go all-in on AI, detailing ambitions to offset an ageing workforce and long-term economic slowdown through the technology’s “job-creation” effect over the next five years.

Japan’s Wholesale Inflation Slows but Weak Yen Lifts Import Costs

Japan’s annual wholesale prices rose 2.0% in February, data showed on Wednesday, slowing for the third straight month in a sign of easing cost pressure for companies. But the yen-based import price index rose 2.8% in February from a year earlier, accelerating from a revised 0.7% gain in January, suggesting the currency’s weakness will keep import costs elevated.

US Crude Stockpiles Unexpectedly Decline, Signaling Stronger Demand

In a surprising turn of events, the American Petroleum Institute (API) reported a significant decline in U.S. crude oil inventories, indicating a stronger-than-expected demand for crude oil. The latest data reveals that crude stockpiles fell by 1.7 million barrels. This figure defied market expectations, which had forecasted an increase of 1.4 million barrels.

The unexpected decrease in crude inventories suggests a robust demand for oil, contrasting sharply with the previous week’s data, which recorded a substantial increase of 5.6 million barrels. This shift from a notable build-up to a considerable drawdown highlights a potential tightening in the oil market.

Us Existing Home Sales Unexpectedly Increase As Mortgage Rates Decline

U.S. existing home sales unexpectedly increased in February as lower mortgage rates and a moderation in house-price growth pulled buyers back into the market, but still-tight supply could constrain activity during the spring selling season. Home sales rose 1.7% last month to a seasonally adjusted annual rate of 4.09 million units. Data for the prior month was revised up to show sales falling to a rate of 4.02 million units rather than the previously reported 3.91 million unit pace

Source: HSL Prime Daily, 11 March 2026