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On February 9th, AVIC Optoelectronic released its preliminary financial results, reporting total operating revenue of RMB 21.301 billion in 2025, a year-on-year increase of 2.98%; net profit was RMB 2.124 billion, a year-on-year decrease of 36.69%. Facing a complex and volatile external environment and cyclical fluctuations in the industry in 2025, the company persevered, achieving operating revenue of RMB 21.301 billion for the year, maintaining overall stable growth; total profit and net profit attributable to shareholders were RMB 2.664 billion and RMB 2.124 billion, respectively, representing year-on-year decreases of 29.24% and 36.69%.Indias fuel sales rose 2.9% year-on-year in January, with diesel sales up 3.3% and gasoline sales up 6.1%.According to Politico, U.S. Energy Secretary Wright predicts that Venezuela will hold democratic elections within the next 18 to 24 months.JPMorgan Chase raised its target price for Cisco (CSCO.O) from $90 to $95.On February 9th, the National Healthcare Security Administration announced that it will select sites in regions that have not yet implemented cloud-based medical image collection and connect them with qualified designated medical institutions in regions that have already implemented cloud-based medical image collection to form a cross-provincial, instant-access medical image cloud network. Based on the national unified medical insurance information platform, this network will facilitate access to medical imaging examination data of patients treated nationwide, further optimizing cross-provincial medical treatment processes and improving the publics experience in accessing healthcare. The application scope includes: designated medical institutions in regions that have not yet implemented cloud-based medical image collection, possessing tertiary qualifications, outstanding medical imaging diagnostic capabilities, well-developed information technology infrastructure, and a large volume of cross-provincial medical services; and designated medical institutions in regions that have already implemented cloud-based medical image collection, possessing secondary or higher qualifications, and actively cooperating with their respective regions in carrying out provincial medical image collection-related work.

NASDAQ Composites Falls for Fifth-Straight Sessions on Weak Chip Sector, Interest Rate Fears

Cory Russell

Sep 02, 2022 14:45



After being instructed to cease shipping AI chips to China, Nvidia and Advanced Micro Devices saw their stock prices plummet.


The tech-heavy NASDAQ Composite is down for the sixth consecutive day as chipmakers fell, driven by a decline in Nvidia and Advanced Micro Devices shares after the United States banned the shipment of some of the most advanced AI devices to China.


The index declined at the start of the cash market, but the selling pressure subsided as U.S. economic data revealed a further easing of pricing pressures. Manufacturing, however, expanded briskly in August as a result of a comeback in employment and new orders.


The NASDAQ Composite is down 31.08 points or -0.26% at 11785.13 as of 18:12 GMT. At $299.43, the Invesco QQQ Trust ETF (QQQ) is up $0.16 or 0.05%.


The latest sell-off started last Friday as Fed Chairman Jerome Powell said the institution will continue aggressively hiking rates to combat inflation even after two straight increases of 75 basis points. Other Fed officials have since mirrored Powell's remarks.


Near session's end, traders projected a 74.0% possibility of a third consecutive 75 basis point rate rise in September, with a high of around 3.993% expected in March 2023.

After US Restrictions, Nvidia and Advanced Micro Devices Sink in the Chip Sector China Sales

After Nvidia and Advanced Micro Devices claimed that U.S. authorities had instructed companies to cease shipping cutting-edge processors for artificial intelligence to China, U.S. chip stocks fell on Thursday, with the major semiconductor index down more than 3%, according to Reuters.


While smaller competitor AMD's price dropped over 6%, Nvidia's stock plunged 11%, on pace for its largest one-day percentage decline since 2020.


Nvidia said in a filing on Wednesday that the limited shipments to China of two of its top artificial intelligence computer chips, the H100 and A100, might affect $400 million in potential sales to China in the current fiscal quarter.


However, AMD does not think the new regulations would have a significant effect on its company. AMD also claimed that American authorities instructed it to halt selling its top artificial intelligence processor to China.


Economic data that is strong supports the Fed's plan to raise rates quickly.


According to a government survey, fewer Americans than usual filed new unemployment benefit claims last week, which is consistent with the high demand for employees and the tight job market circumstances.


In other developments, statistics from the Institute for Supply Management (ISM) revealed that American manufacturing expanded gradually in August as employment and new orders increased. Meanwhile, predictions that inflation has likely peaked were supported by a further easing of pricing pressures.

Looking Forward

Investors are now waiting for Friday's monthly nonfarm payrolls report for further labor market data. According to Reuters' survey of economists, there will be a 300,000 rise in employment. However, Wells Fargo economist Jay Bryson increased his projection for nonfarm payrolls from 325,000 to 375,000, while Morgan Stanley economist Ellen Zentner anticipates August payrolls of 350,000.

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