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On September 10, the Hong Kong Securities and Futures Commission (SFC) has instructed the Hong Kong Stock Exchange (HKEX) to suspend trading in the shares of Kangshiyun-B (02592.HK) from 9:00 a.m. on September 10, 2026, pursuant to Rule 8(1) of the Securities and Futures (Listing on Securities Markets) Rules (the Listing Rules). The SFC expresses serious concern that the initial public offering (IPO) of Kangshiyun may have been manipulated to create the illusion of demand for Kangshiyun shares. Therefore, the SFC considers that suspending trading in the relevant shares while the investigation continues is necessary or appropriate to maintain an orderly and fair market for Kangshiyun shares and to protect the interests of the investing public. As the investigation is ongoing, the SFC will not comment further.On September 10, Lu Lei, Vice Governor of the Peoples Bank of China, introduced at a press conference held by the State Council Information Office on the theme of "Starting the 15th Five-Year Plan" that overseas entities currently hold more than 11 trillion yuan of RMB financial assets in China, and central banks or monetary authorities of more than 80 countries and regions have included RMB in their foreign exchange reserves; Panda bonds have been issued for more than 1.3 trillion yuan, with issuers covering 26 countries and regions across five continents.Enterprise Singapore: For the week ending September 9, Singapores light distillate fuel oil inventories increased by 1.196 million barrels to 11.874 million barrels, a one-month high; middle distillate fuel oil inventories increased by 326,000 barrels to 8.237 million barrels, a two-week high; and fuel oil inventories decreased by 98,000 barrels to 20.355 million barrels, a two-week low.The Hang Seng Index closed down 320.49 points, or 1.27%, at 24,954.47 on Thursday, September 10; the Hang Seng Tech Index closed down 90.3 points, or 2.04%, at 4,330.49; the H-share Index closed down 94.27 points, or 1.13%, at 8,274.78; and the Red Chip Index closed down 59.99 points, or 1.41%, at 4,203.42.On September 10, at a press conference held by the State Council Information Office, Cong Lin, Deputy Director of the State Financial Regulatory Commission, stated that the government will promote the optimization of financial resource supply in the technology sector, improve policies on early, small, long-term, and hard-tech investments such as insurance funds, support the development of emerging and future industries, expand loan issuance to the manufacturing sector, vigorously serve the transformation and upgrading of traditional enterprises, and promote the construction of a modern industrial system.

Despite decreased oil prices, USDCAD fights above 1.3400; news on the US midterm elections is in focus

Daniel Rogers

Nov 09, 2022 17:59

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Amid tumultuous market conditions, the USDCAD is trading near 1.3450 ahead of Wednesday's European session. In addition to covid concerns from China and a cautious disposition before of significant data/events, the closure of the United States government has restricted the Loonie pair's recent fluctuations.

 

However, weakening prices of Canada's principal export, especially WTI Crude Oil, support USDCAD bulls. As of press time, the energy benchmark has decreased for three consecutive trading days, falling 0.85% intraday to approximately $87.75.

 

Aside from this, the US Dollar Index (DXY) shows small increases near 109.70 despite mounting fears of a US government deadlock due to the outcomes of the most recent election. In addition to articles anticipating a six-month high in China's covid rate and additional virus-driven lockdowns, the market's concerns and the USDCAD exchange rate may be heightened.

 

S&P 500 Futures struggle to replicate Wall Street's advances, as US 10-year Treasury rates stay bearish despite breaking a four-day downturn the previous day.

 

The uncertainty around Thursday's US Consumer Price Index (CPI) for October and a speech by the Governor of the Bank of Canada (BOC), Tiff Macklem, provides a challenge to pair purchasers, it should be noted. Recent inconsistent US numbers and Fedspeak, as well as the BOC's delaying of rate hikes, may be to blame.

 

A one-week-old descending trend line depicts the current USDCAD decline. The bearish MACD signal and the obvious breach of the preceding support line from the beginning of October also provide sellers with optimism. In addition, the bearish picture is strengthened by the pair's continued trading below the 200-SMA.


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