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Iranian Foreign Ministry: A Serbian delegation visited Tehran to attend the funeral of former Iranian Supreme Leader Khamenei and met with Iranian Foreign Minister Araqchi on Saturday afternoon.July 5th - The Trump administration is ramping up efforts to reduce the federal governments regulatory burden, unveiling a regulatory reform plan to repeal 702 existing executive orders. This reform plan, released Friday, sets a new record for the number of deregulation measures proposed in the White Houses semi-annual regulatory agenda. This figure is roughly double the scale of related reforms during any period in Trumps first presidency. Furthermore, since the start of the current federal fiscal year (beginning October 1, 2025), the government has finalized or implemented 752 deregulation measures. According to the plan, measures the government intends to repeal by the end of the fiscal year in September include: environmental review requirements for energy projects, energy efficiency standards, and regulations promoting diversity, fairness, and inclusion (DEI). The Trump administration expects that after completing all planned regulatory repeals by the end of September, it will save the U.S. economy $1.5 trillion.US President Trump: We will wait for this storm to pass and we will not let a rainstorm interrupt the 250th anniversary celebrations.Artificial Intelligence: 1. Doubao and Qianwen will discontinue their intelligent agent functions. 2. Zhang Yufeng of Wujie Power: Global humanoid robot production is expected to reach approximately 20,000 units by 2025, but commercial application remains largely untapped. Integrated Circuits (Chips): 1. Micron invests $9 billion to expand its chip factory in western Japan. 2. The first neurodynamic chip has been developed, contributing to the development of technologies such as brain-computer interfaces. 3. He Tingbo of Huawei released the V2 version of the "Tao Law" paper, supplementing engineering details and experimental data. Other: 1. my countrys first integrated aerial survey aircraft successfully completed its maiden flight. 2. Goldman Sachs maintains its "Buy" rating on MiniMax with a target price of HK$860. 3. The Taipingling Nuclear Power Plant Unit 2, the first "Hualong One" project in the Guangdong-Hong Kong-Macao Greater Bay Area, was connected to the grid for the first time. 4. Chen Li of Unitree Technology: The core technology of its articulated motors is entirely self-developed, with upstream suppliers relying solely on raw materials such as copper wire and magnets.Conflict Status: 1. Putin said large-scale attacks on Ukrainian military industrial facilities must continue. 2. Large-scale mutual attacks between Russia and Ukraine; Russian military claims control of several settlements. 3. The Ukrainian General Staff denies that Russian troops have occupied Kostyadinovka in eastern Ukraine. 4. Russian Ministry of Defense: Zelenskys attempts to sabotage Russian civilian facilities will not be ignored. 5. Russia says it is willing to hand over the remains of Ukrainian soldiers killed in action and demands that Ukraine stop shelling Konstantinovka. Peace Negotiations: 1. Zelensky and Trump spoke by phone and agreed to meet during the NATO summit. 2. Putin and Trump spoke by phone, reiterating his preference for a political solution to the Ukraine crisis; Trump said he would continue to mediate the Russia-Ukraine conflict. 3. Zelensky said that if the key Donetsk town of Konstantinovka were under Russian control, Putin could meet with him there. 4. Russia responded to the proposal for a meeting between Zelensky and Putin, stating that Konstantinovka is now completely under Russian control and that Zelensky could travel to Moscow once he is willing to make a "significant and responsible decision," as Moscow is the capital of Russia, not Konstantinovka. Other developments: 1. According to TASS: Putin signed a law revising tax regulations to support the domestic fuel market.

Hang Seng Index, ASX200, Nikkei 225: Markets Find Brief Relief

Jimmy Khan

Feb 28, 2023 15:37


Industry Snapshot

Tuesday's early trading period for the Hang Seng Index and the larger Asian markets was positive. This morning, the Asian markets followed the Dow and the NASDAQ Composite Index into the green.


Riskier assets received support from US economic data on Monday, as the crucial Goods Orders Non-Defense Ex Aviation increased by 0.8% in January, correcting a 0.3% decline from December.


The recent decline in crude oil prices has given rise to expectations that US inflation will experience a brief hiccup in January. However, with the US jobless rate at 3.4% and high US inflation, the Fed's conservatives will have a strong influence in the upcoming sessions. Anxiety of making a mistake would prefer an over-tightening and a gentle landing over abandoning the fight against inflation, which would support a more aggressive direction for interest rates.


Growing global conflict between the US and China has dampened expectations for a strong first quarter for the Hang Seng Index based on the China reopening narrative. Russia-China relations over Ukraine continue to be of worry.


Mixed regional economic data this morning limited the gains due to persistent challenges in the global stock markets. Consumer purchasing pleased, continuing a pattern seen in Europe and the US, while industrial sector statistics showed warning.


The NASDAQ Composite Index increased by 0.63% on Monday, while the Dow Jones and S&P 500 both saw increases of 0.22% and 0.31%, respectively. The US Futures provided assistance this morning. The NASDAQ mini increased by 41 points while the DJI mini gained 50 points.