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On December 30th, Tencent Hunyuan announced the release and open-sourcing of its translation model 1.5, which includes two models: Tencent-HY-MT1.5-1.8B and Tencent-HY-MT1.5-7B. Both models support mutual translation between 33 languages and 5 minority languages/dialects. Besides common languages such as Chinese, English, and Japanese, they also include less common languages such as Czech, Marathi, Estonian, and Icelandic. The models are available on the Tencent Hunyuan official website and can also be downloaded directly from the open-source community.On December 30th, Hong Kong stocks opened lower but rallied throughout the day, gradually strengthening with rapid rotation among market sectors. The Hang Seng Index opened flat at 25636 points, briefly falling 24 points to a low of 25611 before stabilizing and regaining momentum. The gains widened to over 100 points at one point, reaching a high of 25775 points, a maximum increase of 140 points. The market continued its upward trend in the afternoon, breaking through the morning high and reaching a high of 25930 points, a maximum increase of 293 points. At the close, the Hang Seng Index rose 0.86% in the morning session, while the Hang Seng Tech Index rose 1.74%. The total turnover of the Hang Seng Index was HK$199.77 billion. On the sector front, semiconductor stocks led the gains throughout the day, while oil and gas and film/television stocks surged. Non-ferrous metals and heavy machinery stocks rebounded, and robotics concept stocks strengthened. Biopharmaceutical stocks were weak throughout the day, while power equipment, photovoltaic, agriculture, and building materials/cement stocks experienced a pullback. In terms of individual stocks, InSilicon Technologies (03696.HK) closed up 24.6% on its first day of trading, 51Vision (06651.HK) closed up 29.9% on its first day of trading, Baidu (09888.HK) rose nearly 9%, and SMIC (00981.HK) rose more than 4%; Laopu Gold (06181.HK) fell more than 5.5%, and Pop Mart (09992.HK) fell more than 4.5%.On Tuesday, December 30, the Hang Seng Index closed up 219.37 points, or 0.86%, at 25,854.6; the Hang Seng Tech Index closed up 95.37 points, or 1.74%, at 5,578.38; the H-share Index closed up 99.31 points, or 1.12%, at 8,991.02; and the Red Chip Index closed up 25.53 points, or 0.63%, at 4,046.02.At the close of trading in Hong Kong stocks, the Hang Seng Index rose 0.86% and the Tech Index rose 1.74%; Baidu (09888.HK) rose nearly 9%, SMIC (00981.HK) rose more than 4%, and Pop Mart (09992.HK) fell more than 4.5%.December 30 - At a press conference held by the China International Development Cooperation Agency today (December 30), a spokesperson introduced that in the next five years, China will support the global development initiative to create the "Digital South" brand. By jointly designing digital empowerment projects with partner countries, China will help bridge the North-South digital divide and promote the better and wider benefit of scientific and technological achievements and applications to developing countries.

ETH and BTC Price Movement Determined by US Statistics and the NASDAQ

Daniel Rogers

Nov 04, 2022 17:36

截屏2022-11-04 上午11.21.34.png 

 

On Thursday, Bitcoin (BTC) and Ethereum (ETH) joined the larger market in the green. Despite Fed Chair Powell's hawkish speech on Wednesday, US economic indicators fell short of forecasts, alleviating Fed concern. The technical indications continue to be optimistic, indicating rising price movements. The price of Ethereum (ETH) increased by 0.86 percent on Thursday. ETH finished the day at $1,531, partially correcting a 3.80% drop from Wednesday.

 

Due to a rocky start to the day, ETH fell to a low of $1,515 early on. Avoiding the First Major Support Level (S1) at $1,475, ETH climbed to a morning high of $1,559. However, after falling short of the First Major Resistance Level (R1) at $1,593, ETH plummeted further below $1,530 before US economic indicators provided support.

 

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Bitcoin (BTC) climbed by 0.29% on Thursday. BTC concluded the day at $20,223, partially reversing a loss of 1.63% from Wednesday. Notably, BTC broke a four-day losing trend by avoiding sub-$20,000 territory for the ninth consecutive day.

 

BTC reached a mid-morning high of $20,404 after a strong start to the day. BTC plummeted to a midday low of $20,052 after failing to surpass the First Major Resistance Level (R1) at $20,629 during the trading session. Despite avoiding the First Major Support Level (S1) at $19,900, BTC retested $20,356 before retreating.

 

US economic figures supported cryptocurrency prices, with the crucial ISM Non-Manufacturing PMI below expectations.

 

The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Economists anticipate a drop to 55.5.

 

The subcomponents of the Index were diverse. ISM's Non-Manufacturing Employment Index decreased from 53.0 to 49.1. The Prices Index increased from 68.7 to 70.7. The unit labor costs increased by 3.5% in Q3 compared to 8.9% in Q2.

 

While the statistics were favorable for cryptocurrencies, Fed Chair Powell's recent comments weighed on the NASDAQ Composite Index. The NASDAQ Composite Index declined by 1.73 percent on Thursday.

 

The US jobs report will have a significant impact on the NASDAQ Composite Index and the cryptocurrency market today. Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini gained 17.75 points this morning.


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