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Piper Jaffray: Lowered its target price for Netflix (NFLX.O) from $140 to $103.On January 21st, several securities industry professionals stated that the official opening of the Hainan Free Trade Port is a significant milestone in my countrys financial opening-up process, and securities firms have a significant role to play in this process. Currently, securities firms are deeply involved in the construction of the Hainan Free Trade Port through multiple paths, including cultivating local industrial chains, expanding cross-border asset management business, and assisting in state-owned enterprise reform. Beyond industrial empowerment, cross-border asset management is becoming another key area for securities firms expansion in Hainan. According to information on the official website of the Hainan Securities Regulatory Bureau, seven institutions, including Jinyuan Securities and Wanhe Securities, have already completed the registration for pilot cross-border asset management business in the Hainan Free Trade Port.On January 21, China Merchants Bank issued an announcement regarding the optimization of the implementation of the fiscal subsidy policy for personal consumer loans. According to the relevant provisions of the "Notice on Optimizing the Implementation of the Fiscal Subsidy Policy for Personal Consumer Loans (Caijin [2026] No. 1)," China Merchants Bank will provide services to eligible personal consumer loan customers and credit card installment customers under the adjusted subsidy policy starting January 1, 2026. Personal consumer loan customers who have previously signed the "Supplementary Agreement on Personal Consumer Loan Subsidy" will automatically be subject to the latest subsidy policy starting January 1, 2026. China Merchants Bank does not charge any service fees for processing personal consumer loans and credit card installment interest subsidies and has not cooperated with any loan intermediaries or individuals.January 21 – According to the press office of Sinopec, since the first widespread cold wave of the year, residential energy demand has continued to rise. From January 17 to 20, Sinopec supplied the market with over 800 million cubic meters of natural gas, with a maximum daily supply of 220 million cubic meters, setting a new record for this heating season. Among these, over 100 million cubic meters were supplied daily to six northern provinces and municipalities, including Tianjin, Hebei, Henan, Shandong, Shanxi, and Shaanxi.On January 21, local time, South Korean President Lee Jae-myung held a New Years press conference. Lee stated that the summit between the leaders of South Korea and China provided an important opportunity to improve bilateral relations. He pledged to explore mutually beneficial cooperation solutions by redefining the South Korea-China bilateral relationship and to continuously enhance mutual trust through cooperation in multiple fields. Lee also pointed out that this visit significantly broadened the prospects for people-to-people cooperation between the two countries, including cultural exchanges and tourism.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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