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December 30th - It is understood that Pop Mart (09992.HK)s partners in Indonesia, Cambodia, and Mexico have recently begun shipping, further deepening its overseas supply chain layout. Currently, Pop Marts six global production bases are fully operational, covering Southeast Asia and Mexico.On December 30, the Eastern Theater Command of the Chinese Peoples Liberation Army organized amphibious assault ship formations, destroyer and frigate formations, and drones in the waters east of Taiwan Island to conduct drills on three-dimensional deployment, elite troop raids, and seizure and control of key ports, testing the formations coordination, system-of-systems operations, and precision strike capabilities.December 30th - Six new stocks debuted on the Hong Kong Stock Exchange today. It is understood that the listing ceremony utilized all of the Hong Kong Stock Exchanges ordinary gongs, with only the large gong remaining in storage. The Hong Kong IPO market has been booming this year. Statistics show that, including GEM-to-Main Board listings, a total of 118 new stocks were listed throughout the year, an increase of 47 from the previous year, representing a 66.2% increase. The total funds raised reached HK$284.47 billion, a 2.2-fold increase year-on-year, returning to the highest level since 2022. This includes CATL (03750.HK), which has the largest fundraising scale globally this year, contributing approximately HK$41 billion. Furthermore, due to listing mechanism reforms, new listings this year have set several records, with 18 new stocks doubling in value on their first day of trading. Local electromechanical engineering contractor Golden Leaf International Group (08549.HK) saw its public offering oversubscribed by more than 11,000 times, becoming the most oversubscribed new stock in Hong Kongs IPO history.On December 30, Foreign Ministry Spokesperson Lin Jian held a regular press conference. Lin Jian announced that at the invitation of President Xi Jinping, South Korean President Lee Jae-myung will pay a state visit to China from January 4 to 7, 2026. This will be President Lee Jae-myungs first visit to China since taking office. Lin Jian stated that China and South Korea are important neighbors and partners, and he expects this visit, under the strategic guidance of the two heads of state, to play a positive role in further developing the China-South Korea strategic cooperative partnership.On December 30, Foreign Ministry Spokesperson Lin Jian held a regular press conference. In response to US President Trumps comments regarding the "Justice Mission-2025" exercise conducted by the Eastern Theater Command, Lin Jian pointed out that Taiwan is an inseparable part of Chinas territory. The Peoples Liberation Armys military exercises are a severe punishment for the "Taiwan independence" separatist forces attempts to seek independence through force, and a necessary action to safeguard national sovereignty and territorial integrity.

As a result of the Fed's hawkish stance, the AUD/USD has fallen below 0.6600, shifting market focus to PMI data

Alina Haynes

Sep 22, 2022 14:57

 截屏2022-09-22 上午10.05.28.png

 

The Australian dollar was trading below the 0.6600 US dollar support level during the Tokyo trading session. As a result of the Federal Reserve's interest rate decision, the asset is tumbling like a pack of cards (Fed). The two-day downtrend has resumed, and the asset is now trading below the round-number support of 0.6600. The asset is expected to have support close to the 0.65 level.

 

Investors believed the Federal Reserve will raise interest rates by 75 basis points (bps) for a third time in a row. Volatile hawkish counsel has had an effect on risk-sensitive and commodity-linked currencies. The Fed has put off job growth, economic prospects, the housing market, and demand for durable goods in order to maintain price stability, which is its core goal.

 

The target for maturity rates is 4.6%, which is significantly higher than the previous peak of 3.6%. Because of this, the distribution of loans will be slowed and the market liquidity will decrease. Lenders may also see an increase in their delinquency fees as a result. Since fewer loans are being made available, some companies may delay expansion plans.

 

The financial markets in Australia will be closed on Thursday for National Mourning Day. Accordingly, the performance of the US dollar index will continue to be scrutinized closely (DXY). The S&P Australian PMI data is expected to be issued on Friday, and investors will continue to keep a close eye on it. It is expected that the Manufacturing PMI would rise from 53.8 to 54.0. While we expect the Services PMI to drop from its current 50 to a much more modest 47.7.


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