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May 7th, at Lenovo TechWorld today, Lenovo Group Chairman Yang Yuanqing was asked whether Lenovos products would increase in price in the future as a global company. Yang Yuanqing said that there is definitely no absolute answer, and the supply and demand of components is an important consideration. What everyone is concerned about is that the impact of tariffs will be reflected in product pricing. If there is no further policy change, the impact on prices may not be significant, but there is great uncertainty in the future.Germanys DAX30 index opened up 46.81 points, or 0.20%, at 23285.12 points on May 7 (Wednesday); Britains FTSE 100 index opened down 17.14 points, or 0.20%, at 8580.28 points on May 7 (Wednesday); Europes STOXX 50 index opened down 13.13 points, or 0.25%, at 5250.25 points on May 7 (Wednesday); Spains IBEX35 index opened up 5.20 points, or 0.04%, at 13514.00 points on May 7 (Wednesday); Italys FTSE MIB index opened down 55.25 points, or 0.14%, at 38505.00 points on May 7 (Wednesday); Frances CAC40 index opened down 22.13 points, or 0.29%, at 7674.79 points on May 7 (Wednesday).Switzerlands foreign exchange reserves in April were 702.895 billion Swiss francs, with the previous value revised from 725.6 billion Swiss francs to 725.551 billion Swiss francs.May 7, U.S. Treasury and euro zone bond yields were little changed in early trading as investors remained on the sidelines ahead of the Federal Reserves policy meeting. The Fed is expected to keep interest rates unchanged in its decision on Wednesday and is unlikely to signal a rate cut in the coming months due to strong recent U.S. economic data. "The Fed is expected to keep interest rates steady and indicate no intention to break the deadlock in the short term," KBC bank analysts said in a report.On May 7, Swissquote analyst Ipek Ozkardeskaya said in a report that news of the China-US talks may increase hopes for easing trade tensions and boost risk appetite, leading to a recovery in the US dollar. The trade war should have boosted demand for the safe-haven dollar, but this did not happen. At the same time, the market generally expects the Federal Reserve to keep interest rates unchanged. Before cutting interest rates, the Federal Reserve may wait and see how trade negotiations progress and the impact of tariffs on economic growth and inflation.

MSCI Delays Weighting Adjustments For Two Adani Companies

Skylar Williams

Feb 16, 2023 10:50

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Index provider MSCI announced on Wednesday that it will delay the introduction of updated weightings for Adani Total Gas and Adani Transmission until the May benchmark review.


MSCI stated that the reversal of the modifications to Adani Total Gas and Adani Transmission in the February index review would be reflected in the MSCI Index Product files beginning on February 16.


Starting in February, MSCI will also apply a special treatment to all Adani Group-affiliated equities included in its Equity Indexes.


Adani did not react promptly to a comment request given outside of usual Indian business hours.


MSCI announced last week that it would reduce the weightings of four Adani Group firms, including Adani Enterprises, in its indexes after reevaluating the amount of freely traded shares.


The new index weightings were scheduled to take effect on March 1, however, the proposed modifications to Adani Total Gas and Adani Transmission have been deferred until May.


MSCI stated that "possible replicability concerns" motivated the decision. Its methodology requires indexes to be replicated "in a cost-effective manner in a real portfolio."


MSCI did not immediately respond to a request for comment from Reuters regarding why the changes were reversed quickly after their announcement last week.


Changes to the weightings of Adani Enterprises and ACC, a large Indian cement firm that the Adani Group purchased from Holcim (SIX:HOLN) last year, are still scheduled to occur.


MSCI investigated the level of free floats after concluding that there was "sufficient uncertainty" regarding certain Adani investors.


MSCI's decision followed a report published on January 24 by U.S. short seller Hindenburg Research, which accused the Indian giant of inappropriate use of offshore tax havens and stock manipulation. The organization has denied all wrongdoing.


The Hindenburg report has put Adani, led by billionaire Gautam Adani, into trouble, reducing the value of the group's companies by almost $120 billion.


According to a document seen by Reuters, Adani and two of its principal subsidiaries involved in a short-selling tempest in recent weeks will arrange calls with bond investors on February 16 and February 21.

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