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According to RIA Novosti, Russian air defense forces shot down 22 Ukrainian drones last night.On November 12th, Baili Tianheng (02615.HK), which was conducting its IPO from November 7th to noon on November 12th and originally expected to list on November 17th, announced in a midday announcement that, given the current market conditions and after consulting with the overall coordinator, the company has decided to postpone the global offering and will not proceed according to the prospectus. The international underwriting agreement will not be entered into, and the public offering underwriting agreement will not be unconditional. Baili Tianheng stated that application funds will be refunded on November 17th (next Monday). As of 10:00 AM today, based on brokerage data estimates, Baili Tianhengs margin financing amounted to approximately HK$6.33 billion, representing an oversubscription of approximately 17.8 times based on the public offering fundraising amount of HK$336 million. Baili Tianheng stated that the decision to postpone the global offering will not affect the companys current business, and the company is committed to developing and expanding its business. Meanwhile, the company and its overall coordinator are carefully evaluating a revised timetable for the global offering and listing.Federal Reserve Governor Barr made no comments on monetary policy or the economic outlook in his speech in Singapore on preparations for artificial intelligence.Bama Tea (06980.HK) rose more than 30% at one point during the day, but the gains have now fallen back to 16%, which is poised to end its previous eight-day losing streak.On November 12th, CCB International issued a report maintaining its target price of HK$102 and "Outperform" rating for Sunny Optical Technology (02382.HK). The bank stated that its forecasts for the company in fiscal years 2025/2026/2027 remain largely unchanged. It believes the companys long-term investment remains healthy, primarily based on its industry-leading technology and solid customer base. Non-mobile phone products have gradually become the companys main growth and profit driver. Automotive lenses are experiencing strong growth, mainly benefiting from the companys dominant market position. Meanwhile, specification upgrades are continuously being launched, with the proportion of 8-megapixel cameras increasing. Furthermore, high-end products, including Advanced Driver Assistance Systems (ADAS) and intelligent headlights, are also contributing to sales growth and profitability thanks to leading technologies.

Gold analysis: waiting for the non-agricultural report to be released, the gold range fluctuates and stabilizes

Oct 26, 2021 11:00

On Thursday (October 7), spot gold was basically flat on Thursday, with a slight drop of 0.06% to US$1,761.85 per ounce.



Under pressure from the strengthening of the U.S. dollar and rising yields on US 10-year Treasury bonds, gold's short-term rebound was suppressed. The 10-year U.S. Treasury yield hit a high of 1.571% since June 18; the US dollar is not far from the high of 94.504 recorded last week since September 28 last year, weakening the attractiveness of gold to holders of other currencies. Based on the expectations of monetary policy, the downward trend of gold prices has not yet been well improved, and there are still significant signs of rising cost pressures in the global economy, which will continue to prompt investors to pay attention to the central bank's tightening policies. The non-agricultural employment report to be released this week may change the logic of the gold market. Once the expected reduction in debt purchases is fully digested, the financial market will pay more attention to the economic outlook in 2022, which will give many investors the green light to return to the gold market. Therefore, the market remains cautious until the key employment data is released. At the same time, as the deadline for the U.S. debt ceiling is approaching, the gold shorts dare not take it lightly. The price of gold may consolidate between US$1720 and US$1775.

From a technical point of view, the short-term trend of gold is relatively volatile and difficult to operate. It is expected that this Friday's non-agricultural report will guide the direction of the next trend of gold prices. Before this, the price of gold may continue to fluctuate within the range. The technical side is mixed. On the one hand, the MACD is at a low level to form a golden cross, and on the other hand, the price of gold is still running below the middle track of the Bollinger Band. If the price of gold holds the trend line support, it will lay the foundation for further increases. The upper resistance focuses on the 38.2% retracement at 1764.27, and further attention is paid to the 50% retracement at 1777.59 and the 61.8% retracement at 1790.91. Below support is concerned about the 23.6% retracement level of 1747.79, and further attention is paid to the low of 1738.12 on September 23 and the low of 1721.76 on September 29.

Only personal views, not representative of the views of the organization

Source: Bank of China's official website, Bank of China Guangdong Branch Wang Gang, original title: "20211008-Waiting for the non-agricultural report to be published, the golden range fluctuates and waits for stability"

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