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On July 25, Daiwa Research reported that WuXi Biologics (02269.HK) issued a profit warning, expecting revenue to increase by 16% year-on-year in the first half of the year, higher than the market expectation of 9%, accounting for 12% to 15% of the companys full-year guidance; gross profit margin is expected to improve by 3.6 percentage points during the period, and profit attributable to shareholders will increase by about 56% year-on-year, higher than the market expectation of 30%, and adjusted net profit is expected to increase by about 11% year-on-year. The company believes that the growth is due to the successful implementation of the "Follow and Win the Molecule" strategy, the rapid growth of technology platforms such as ADC and bispecific antibodies, the growth of research service revenue and the increase in production capacity of European production bases. The bank maintains a "buy" rating.Seiji Maehara, co-leader of the Japan Restoration Party, said he would not consider joining Ishibas coalition and believed it was necessary to make an additional budget. Ishiba will make a sincere response to the Alaska LNG project.Yoshihiko Noda, leader of Japans largest opposition party: Shigeru Ishiba acknowledged that discussions had taken place on the quarterly review of the agreement.Japanese Prime Minister Shigeru Ishiba: We are discussing the purchase of Boeing aircraft with airlines.Yoshihiko Noda, leader of Japans largest opposition party, said there are risks as there is no trade agreement document between Japan and the United States. Shigeru Ishiba did not explicitly mention the additional budget.

Crypto Market Daily Highlights – BNB and SOL Buck the Top Ten Trend

Cory Russell

Oct 31, 2022 15:41

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The crypto top 10 had a choppy Sunday session. The top ten trend was defied by solana (SOL) and binance coin (BNB). BTC saw its first negative session in three sessions despite avoiding the sub-$20,000 level for a fifth straight day.


The Sunday dip was probably caused by profit-taking as there was no cryptocurrency event for investors to consider.


Although the week was positive due to expectations of a December Fed turnaround, market jitters may develop before of Wednesday's FOMC interest rate decision and the crucial press conference by Fed Chair Powell.


The markets continued to factor in a 75-basis point Fed rate increase this morning. Nevertheless, there is still ambiguity about the Fed's December intentions. Labor market conditions, personal spending, and Q3 GDP data imply greater front-loading whereas private sector PMIs, housing data, and consumer confidence data indicate a less hawkish Fed.


The likelihood of rate increases in November and December, according to the FedWatch Tool, are 80.3% and 44.3%, respectively. The probability of a 75-basis point increase in December was 45.6% a week ago.


The NASDAQ 100 and cryptocurrency markets' sensitivity to US economic data and the FED maintains their short-term link. The NASDAQ 100 Mini was down 52.5 points this morning.


Bitcoin Market Declines As investors lock up profits, there is a shortfall of $1 trillion.


The cryptocurrency market increased to a mid-morning high of $996.5 billion after a rocky start to the day. The crypto market, however, dropped to a low of $962.3 billion following a downturn in the late morning and a negative afternoon.


Late support reduced the shortfall to $9.2 billion as the cryptocurrency market cap concluded the day at $972.4 billion. The crypto market increased by $74.1 billion over the course of the week despite the Sunday drop.


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