EUR/USD
1.12270
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Gold
3282.77
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Oil
60.971
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USD/JPY
145.852
0.383%
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1.32830
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GBP/JPY
193.741
0.171%
Real-time News
May 12, Japanese Prime Minister Shigeru Ishiba said on Monday that the government is ready to take further measures to ease the blow to the economy from higher U.S. tariffs, but is cautious about cutting the consumption tax rate. Opposition parties and some ruling party lawmakers have called on the government to cut the consumption tax to help households cope with rising living costs. Japans consumption tax is 10%, and the food tax rate is 8%. In a speech to parliament, Shigeru Ishiba said the government "will not hesitate to take additional measures" to ease the pain of higher U.S. tariffs on the economy. But he said any measures must target the hardest-hit households rather than covering a wide range of households.On May 12, Goldman Sachs published a research report, based on the market transaction data from April and early May to date, raising the earnings per share forecast of Hong Kong Exchanges and Clearing Limited (00388.HK) by 2%, 4% and 4% respectively from 2025 to 2027. The bank maintained the "buy" rating on Hong Kong Exchanges and Clearing Limited, and raised the target price from HK$386 to HK$398, corresponding to a forecast price-to-earnings ratio of about 34.5 times this year.On May 12, CICC published a research report stating that Lenovo Group (00992.HK) officially released a super intelligent agent covering all application scenarios and defined the core functions of the super intelligent agent for the first time. The bank believes that this marks another step towards hybrid artificial intelligence and maintains its earnings forecast and "outperform industry" rating for Lenovo. However, considering that the average valuation of the personal computer industry has declined due to trade frictions, the bank lowered Lenovos target price by 12% to HK$13.78, equivalent to a forecast price-to-earnings ratio of 13 times in fiscal 2026.Shanghai Auntie (02589.HK) fell 11.5%, with its share price at HK$127.8 and its issue price at HK$113.12.May 12, preliminary data released by the Ministry of Finance of Japan on Monday showed that in April, proxy investment institutions of Japanese pension funds bought a record number of foreign stocks: the net amount of foreign stocks purchased through bank trust accounts reached 2.76 trillion yen (about 18.9 billion US dollars). Affected by the intensification of trade tensions, the MSCI global market index fell more than 7% in the first week of April. The yen, as a safe-haven asset, appreciated significantly during this period. Jumpei Tanaka, head of investment strategy at Swiss Pictet Asset Management, said that the stock market fell sharply in April and the yen exchange rate rose, and many investors saw this as an opportunity to buy on dips. Another set of data showed that in March this year, Japanese investors bought a net 2.12 trillion yen of U.S. stocks, setting a record high since comparable data was available in 2005. The S&P 500 fell 6.1% in yen that month, the biggest drop since December 2022.
