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February 4th - Sergei Koletsky, Chairman of the Board of Directors of Ukraines state-owned oil and gas company Naftogaz, announced on February 4th that the first shipment of liquefied natural gas (LNG) from the United States for 2026 has arrived in Ukraine. Koletsky stated that nearly 100 million cubic meters of gas arrived at the LNG receiving terminal in Poland at the end of January and has been injected into the Ukrainian gas transmission system. He indicated that Ukraine plans to import up to 1 billion cubic meters of LNG from the United States throughout 2026. The next shipment of US LNG has been contracted and is scheduled for delivery between February and March.February 4th - The pound rose to its strongest level in five months against the euro ahead of the Bank of Englands interest rate decision on Thursday. The market widely expects the Bank of England to keep interest rates unchanged. Lee Hardman of Mitsubishi UFJ Financial Group stated in a report that recent data showing a strengthening UK economy has prompted market participants to postpone their expectations for the next rate cut. "In the absence of immediate triggers for further rate cuts, the Bank of England is likely to remain cautious about further rate cuts at the beginning of this year."On February 4th, Innovent Biologics announced that in 2025, the company achieved total product revenue of approximately RMB 11.9 billion, maintaining a strong growth momentum of approximately 45% year-on-year. In the fourth quarter of 2025, the company achieved total product revenue of approximately RMB 3.3 billion, representing a year-on-year increase of over 60%.February 4th - Holger Schmieding of Berenberg Bank stated in a report that the European Central Bank (ECB) may raise key interest rates starting in mid-2027, with economic growth this year expected to be slightly above the long-term trend of 1.2%. Following projected growth of 1.3% this year, Eurozone economic growth is expected to accelerate to a cyclical peak of 1.5% in 2027, primarily driven by the gradual effects of German fiscal stimulus measures. This will boost German business and consumer confidence and, to a lesser extent, benefit some of its neighboring countries. Against this backdrop, the ECB could raise key interest rates to a neutral level of approximately 3% by early 2028, allowing economic growth to fall back to near its trend rate in 2028.The US January ADP employment figures will be released as scheduled tonight at 9:15 PM, providing the market with the latest clues about the US job market. This data is collected and released by the private US agency ADP. Due to the previous brief government shutdown, the release dates for non-farm payrolls, initial jobless claims, and job openings data were pending. The US Department of Labor, responsible for releasing these data, fully resumed normal operations on February 4th and will reschedule the release times.

Hang Seng Index, ASX200, Nikkei 225: ASX 200 Gets Wall Street Support

Cory Russell

Feb 14, 2023 16:49


Market Overview

It was a mixed morning session. While there were no material stats from the US to deliver a bullish start to the Tuesday session, a US household survey eased fears of a hot US CPI Report.


According to a Monday Fed press release, the January 2023 Survey of Consumer Expectations showed that household growth expectations fell significantly in January while holding above pre-pandemic levels. The survey results eased fears of a hotter-than-expected January CPI Report, supporting a bullish US market session.


On Monday, the NASDAQ Composite Index rose by 1.48%, with the Dow gaining 1.11%. Investor optimism delivered early support.

ASX 200

The ASX 200 was up 0.30% this morning. Economic indicators from Australia delivered mixed results. While consumer confidence waned in February, business confidence rebounded in January, which was market positive. The NAB Business Confidence Index rose from -1 to +6, while the Westpac Consumer Sentiment Index fell by 6.9%, reversing a 5.0% rise from January.


Easing fears of a hotter-than-expected US CPI Report delivered a bullish session for the Dow on Monday, which provided ASX 200 support this morning. However, the Index saw a modest gain, with the RBA monetary policy outlook a headwind.


This morning, bank stocks had a mixed session. National Australia Bank (NAB) and Westpac Banking Corp (WBC) saw gains of 0.67% and 0.19%, respectively, while the Commonwealth Bank of Australia (CBA) and ANZ Group (ANZ) were down by 0.07% and 0.04%, respectively.


Mining stocks were also having a mixed session. Rio Tinto (RIO) fell by 0.15%, while BHP Group Ltd (BHP) and Fortescue Metals Group (FMG) were up 0.08% and 0.45%, respectively. Newcrest Mining (NCM) resumed its upward trend, rising by 0.63%.


Oil stocks were on the rise, with Woodside Energy Group (WDS) and Santos Ltd (STO) up by 0.55% and 0.50%, respectively. The current uptrend in crude oil prices delivered support. The upside came despite a morning pullback in crude oil prices. WTI was down 1.24% to $79.15.