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On February 26th, Tesla China officially announced a new round of financing incentives for its vehicles. Orders placed before March 31st will be eligible for a 7-year low-interest loan on all models. For the three main models, Model 3, Model Y, and Model YL, an additional 5-year 0% interest plan is available, meaning no interest will be paid on the loan. This move is widely interpreted by the industry as another round of "disguised price reductions," aimed at further boosting sales. In January 2026, Tesla China released a similar promotional program, which at that time was valid until January 31st. Data shows that Tesla Chinas total wholesale sales in 2025 were 851,700 vehicles (including domestic deliveries and overseas exports), a year-on-year decrease of 7.08%.Galaxy Entertainment (00027.HK): The Groups adjusted EBITDA for the year 2025 is HK$14.5 billion, up 19% year-on-year. Profit attributable to shareholders for the year is HK$10.7 billion, up 22% year-on-year.Hong Kong Exchanges and Clearing Limited (00388.HK): Driven by the wave of artificial intelligence and other technological developments, global investors interest in Chinese assets has been rekindled, and the participation of mainland Chinese investors has continued to increase, driving a strong performance in the Hong Kong spot market in 2025, with turnover reaching a record high. The IPO market also saw a heated atmosphere. The spot market set several new records in 2025, with the annual average daily turnover reaching a new high of HK$249.8 billion, the average daily turnover in September 2025 reaching a new monthly high of HK$316.7 billion, and a new single-day turnover of HK$621 billion recorded on April 7, 2025.The U.S. savings rate fell to 3.6% in December, the lowest level since October 2022.February 26th - According to statistics and analysis from the China Association of Automobile Manufacturers, in January 2026, Chinese brand passenger vehicles sold a total of 1.329 million units, a decrease of 32.1% month-on-month and 8.9% year-on-year, accounting for 66.9% of total passenger vehicle sales, a decrease of 1.5 percentage points compared to the same period last year.

Oil prices steady after precipitous declines due to weak U.S. demand

Haiden Holmes

Jul 22, 2022 11:27

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Oil prices stayed almost unchanged in early trading on Friday, after a loss of around 3 percent in the previous session due to deteriorating demand in the United States, the biggest oil consumer in the world, and a rise in output from Libya.


Brent oil prices rose 17 cents, or 0.2%, to $104.03 per barrel at 00:41 GMT, while U.S. West Texas Intermediate (WTI) crude futures were constant at $96.35 per barrel.


WTI has been hammered over the last two days as a result of the publication of data suggesting that U.S. gasoline consumption during the height of the summer driving season decreased by around 8% from the previous year due to record pump prices.


"At 8.52 million barrels per day, seasonal demand is at its lowest level since 2008," experts at ANZ Research said in a study.


The decrease in WTI has positioned the contract for a loss of 1.3% this week, its third consecutive weekly loss.


Brent was bolstered by signs of healthy demand in Asia, putting it on course for its first weekly gain in six weeks.


Despite increasing prices, gasoline and distillate fuel demand in India hit all-time highs in June, with refined product consumption 18 percent higher than a year earlier and Indian refineries operating at their busiest levels ever.


An analyst at RBC, Michael Tran, said in a note, "This signals much more than a solid return from COVID-affected years."


Brent's gains were limited this week by the return of production at important Libyan oil fields.


Meanwhile, the European Central Bank (ECB) raised rates more than expected on Thursday in an effort to curb inflation, with ECB President Christine Lagarde warning that inflation risks had increased due to the likelihood that the Ukraine conflict will continue for an extended period of time and that energy prices will remain elevated for an extended period of time.


"Is the horizon cloudy? Clearly it is, "Lagarde said.


She said that the baseline assumption of the central bank is that neither this year nor next would experience a recession.

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