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The main contract of low-sulfur fuel oil (LU) rose by 2.00% during the day and is now quoted at 3,354.00 yuan/ton.On September 15th, Xpeng Motors (09868.HK) officially entered into a deep cooperation agreement with the Magna Steyr plant in Graz, Austria, marking the official launch of localized production in Europe. This partnership utilizes a contract manufacturing model and will gradually deepen localization. The Xpeng G6 and G9 will enter mass production in Q3 2025. Both models have already been launched in the European market and have established a relatively solid market foundation. Furthermore, the Graz plant is planned to expand into the production of Xpengs all-electric sedans, small and medium-sized SUVs, and super-electric models. Xpeng has now completed a closed-loop R&D and production system in Europe, effectively securing production capacity for future regional market penetration.Regarding the foreign exchange swap issue with the United States, South Koreas Finance Minister said, "We believe the United States is considering this matter."On September 15, the UK Department for Business and Trade announced that Citigroup has confirmed a £1.1 billion investment in its UK operations, including further expansion in Northern Ireland. The statement said Citigroup is already one of the largest employers in Northern Ireland, with over 4,000 employees.Hyundai Motor shares fell 3.1%.

Asia-Pacific Shares Move Higher as Investors Bet on Fed “Pivot”

Jimmy Khan

Oct 31, 2022 16:01



On Monday, the main Asia-Pacific stock indices were generally up as traders ignored disappointing manufacturing and non-manufacturing statistics from China and turned their attention to the US Federal Reserve meeting later in the week. Traders said that the markets were mostly underpinned by expectations that the Fed will later this week sound less assertive about potential rate rises.


Gains are being reported in Australia, South Korea, Hong Kong, and Japan, although China's equities plummeted as a result of the dismal economic statistics.


The revelation of an electronic visa system for Chinese citizens visiting Macao helped casino companies recover, and Hong Kong's Hang Seng Index increased by 0.89%. According to CNBC, the Shanghai Composite in mainland China was down by 0.03%.

China's factory activity decreased in October, falling short of expectations

Compared to September, China's manufacturing activity decreased in October, according to statistics from the National Bureau of Statistics.


The official manufacturing Purchasing Managers' Index reading of 49.2 fell short of forecasts for a reading of 50, the line dividing monthly expansion from contraction. The PMI score for September was 50.1.


The official non-manufacturing PMI for China registered at 48.7, down from a reading of 50.6 in September.

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