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On May 6, Tokyo Central Auction (01939.HK) announced that its 74.99% equity changed hands, and the stock price once rose 1.12 times to 3.18 yuan when it resumed trading this morning. The counterparty Ruihe Digital Intelligence (03680.HK) once rose by more than 50%. On the news front, Tokyo Central Auction announced that ESSA FINANCIAL GROUP LTD, Ruihe Digital Intelligence and two buyers purchased a total of approximately 74.99% of the companys equity from the chairman of the board and controlling shareholder Ando Xianggui for approximately 165 million yuan. Among them, the offeror ESSA, as usual, made a mandatory unconditional cash offer at an offer price of 0.44 yuan per share, a substantial discount of 70.67% from the 1.5 yuan offer before the suspension. The value of the share offer is approximately HK$55.01 million. The only director of the offeror ESSA is Huang Shikun, who acquired approximately 65.99% of Tokyo Central Auctions equity, Ruihe Digital Intelligence acquired 3%, and Li Jiefeng and Zheng Haoran also acquired 3% each. Huang Shikun is the chairman of Shenzhen Jin Yafu Holding Group, which is mainly engaged in the gold and jewelry industry chain.Ideal Auto: The launch conference of the new intelligent version of Ideal L series is scheduled for May 8 at 20:00.Hong Kong-listed Yao Smart Securities and Finance (01428.HK) rose again today, rising by more than 19% to HK$8.45, setting a new record high with a market value of more than HK$14.3 billion. In the five trading days since it resumed trading on April 25, the stock has risen by 177%.On May 6, Wang Zhe, a senior economist at Caixin Think Tank, said that under the influence of Sino-US trade frictions, the improvement in supply and demand in the manufacturing and service industries slowed down in April, and the export pressure of the manufacturing industry was relatively high. It is worth noting that the production and operation expectation indexes of the manufacturing and service industries fell to the third and second lowest levels in history, respectively, and the markets optimistic expectations for the future economy were insufficient. The national economy started well in the first quarter of 2025, and the main macroeconomic indicators were higher than market expectations, showing that the effects of the previous incremental stock policies were still obvious. However, there are still many unfavorable factors for economic development at present, especially the uncertainty of the external trade environment has a greater impact on enterprises. The future prospects of the market are unclear, enterprises and residents are not optimistic enough, and it is more difficult to cultivate domestic demand. The Sino-US tariff game is still going on, and the negative effects on the economy will gradually appear in the second and third quarters. Policies should be fully prepared for this and work forward appropriately.May 6th news, before the Federal Reserve will hold a two-day monetary policy meeting this week, bond investors are neutral, reflecting their continued caution on U.S. trade policies. These policies have the potential to plunge the worlds largest economy into recession. Fixed income investors said they either maintain a neutral position relative to the benchmark, reduce long-term bond exposure, or tend to hold bonds at the short end of the yield curve. Chip Hughey, managing director of fixed income at Truist Advisory Services in Richmond, Virginia, said: "Economic data is getting weaker, and policy shocks may also have an impact on the inflation outlook and deficit levels. We are in an uneasy balance amidst the various economic concerns that are heating up."

Gold Price Prediction: XAU / USD falls toward $1,793 support convergence as US Dollar yields rise

Alina Haynes

Feb 27, 2023 14:22

Gold price (XAU/USD) accepts offers to rise from a two-month low to around $1,808 on Monday morning. In doing so, the precious metal justifies the most recent uptick in the US Dollar, following a week-long decline, amid hawkish concerns surrounding the US Federal Reserve (Fed) and geopolitical concerns.

 

That said, the US Dollar Index (DXY) renewed its intraday high around 105.30, following the initial pullback from a seven-week high. In doing so, the dollar index against the six major currencies has strengthened for the fifth consecutive day.

 

The DXY's recovery from the intraday low can be attributed to the firmer US Treasury bond yields, as the US 10-year Treasury yields reverse the early-day declines of approximately 3.95 basis points. In addition, the two-year counterparts return to their greatest levels since November 2022, as bond bears approach the 4.83% level as of press time.

 

Fears of an Australian recession, decreased consumption in New Zealand, and a soft landing in the United States have contributed to the recent weakness of the XAU / USD. Concerns about a hawkish Federal Reserve could contribute to the precious metal's decline, particularly in light of last week's strong inflation indicators and policymakers' optimistic comments. It should be noted that the most recent rumors regarding additional Western sanctions against Russia and Beijing-Moscow relations also favor the Gold Bears.

 

It’s worth noting, however, that the S&P 500 Futures lick its wounds with mild gains after the Wall Street benchmark posted the biggest weekly slump of 2023.

 

A stronger US dollar and geopolitical worries keep the Gold price on the bears' radar. In the absence of top-tier data, the XAU / USD may be able to recover some of its losses. Traders must therefore keep an eye on the US ISM Manufacturing PMI, Services PMI, Durable Goods Orders, and China's official PMIs this week for unambiguous direction.


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