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The Hang Seng Index continued to strengthen in early trading, breaking through the 27,000 mark for the first time since November 2025, and is currently up 1.77%.Hong Kong tech stocks performed strongly in early trading, with Alibaba (09988.HK) rising over 4%, JD.com (09618.HK) rising over 2%, and Bilibili (09626.HK) and Kuaishou (01024.HK) following suit.WuXi AppTec shares rose in both A-shares and H-shares in early trading, with A-shares up over 4% and H-shares up over 6%. The news comes after WuXi AppTec (02359.HK) issued a profit warning, projecting net profit attributable to shareholders of approximately RMB 19.151 billion in 2025, representing a year-on-year increase of approximately 102.65%.On January 13th, UBS CEO Benjamin Anscher stated that the proposed banking regulatory reforms in Switzerland "have gone too far," and the bank needs a competitive regulatory framework to achieve growth. In a television interview on Tuesday, Anscher said, "This has evolved into a political process, and we hope to see clearer progress in the second half of the year." Regarding the situation in Switzerland, Anscher said he couldnt be sure a solution satisfactory to UBS would be reached, but was "gratified to see the political interest in understanding the details of the reforms." The banks management is trying to persuade the Swiss government to downplay the proposed regulatory reforms, which could subject UBS to up to $26 billion in additional capital requirements. Since last year, UBS has been exploring solutions to the Swiss capital requirements and reportedly discussed the possibility of relocating its headquarters with US Treasury Secretary Bessenter.Hong Kong-listed new energy vehicle stocks collectively rallied, with XPeng Motors (09868.HK) rising over 4%, BYD (01211.HK) gaining over 3%, and Li Auto (02015.HK) and Leapmotor (09863.HK) following suit. This rally was fueled by news that the European Union will release guidance on submitting price undertaking applications.

Gold Price Prediction: XAU / USD will continue to fluctuate above $1,900 despite a decline in US Inflation

Daniel Rogers

Mar 15, 2023 11:43

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Gold price (XAU / USD) is not in danger despite U.S. inflation figures meeting expectations. Since Monday, the precious metal has been fluctuating continuously between $1,895 and $1,913. The release of the US Consumer Price Index (CPI) failed to produce a significant reaction in the Gold price; however, the upside bias appears to be solidified as wagers on lesser rate increases from the Federal Reserve (Fed) have increased.

 

The US Dollar Index (DXY) is protecting the critical support at 103.50, but it appears vulnerable to further losses as investors' risk appetite has dramatically increased. As market participants purchased S&P500 futures in response to higher odds of a smaller rate hike from Fed chair Jerome Powell, a likely recession in the US economy was postponed, signaling an uptick in optimism.

 

Contrary to the risk-on sentiment, demand for US Treasury bonds remained weak, causing 10-year US Treasury yields to rise above 3.68 percent.

 

The headline As anticipated, the US CPI increased by 0.4% on a monthly basis, and the annual figure decreased from 6.4% to 6.0%. In addition, the core CPI, which excludes crude and food prices, decreased to 5.5% from 5.6% previously. The Fed appears to be pleased with the persistence of a declining trend in US inflation.

 

In the future, investors will closely monitor the US Retail Sales (Feb) data. Monthly Retail Sales data is anticipated to decline by 0.3% compared to the previous release of a 3.0% increase. This indicates that the consumer spending rebound is over and the Fed is on course to achieve its inflation target of 2%.

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