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On February 9th, Guansheng Co., Ltd. issued an announcement stating that it has noticed reports published by some media outlets online regarding "Guansheng Co., Ltd.s release of an intelligent bionic articulated arm in Shanghai." The reports claimed that the companys core component business for humanoid robots has entered the commercial mass production stage, and that its intelligent bionic articulated arm product has received over a thousand intended orders in the field of biomedical experimental equipment. The company clarified that the aforementioned reports are a misinterpretation by the media and do not represent the companys statements. The company will contact the relevant media outlets as soon as possible to delete the inaccurate statements and pursue relevant responsibilities to protect the companys reputation and legitimate rights, and safeguard the interests of its investors. The companys main business has not changed and remains focused on the research, development, production, and sales of automotive chassis system components. Currently, the intelligent bionic articulated arm product has no orders and has not generated any revenue. The wording in the related media reports is inaccurate; the product has not yet entered the mass production stage and is still a long way from mass production.On February 9th, Zhongmiao Holdings (01471.HK) announced in Hong Kong that its board of directors has noted the recent increase in the companys share price and trading volume. The board is pleased to announce that it has submitted an application to the China Securities Regulatory Commission (CSRC) to convert 105,895,600 unlisted domestic shares into H shares. Subject to obtaining all filings and/or approvals from relevant regulatory authorities (including but not limited to the CSRC and the Stock Exchange of Hong Kong), and upon compliance with all applicable laws and regulations, these unlisted shares will be converted into H shares and eligible for listing and trading on the Stock Exchange of Hong Kong.According to Hong Kong Stock Exchange documents, Vidali Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.According to Hong Kong Stock Exchange documents, Hangzhou Relian Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.Oracle (ORCL.N) shares surged 6% intraday, marking the biggest gain since December of last year.

S&P 500 Index, NASDAQ Composite Attempting to Recover from Knee-jerk Reaction to Hot Labor Market Report

Florala Chen

Dec 05, 2022 15:43



As traders attempt to recover earlier losses, the tech-heavy NASDAQ Composite and the benchmark S&P 500 Index are down late in trading on Friday but still much above their intraday lows.


As investors changed their bets in anticipation of a more hawkish-than-expected Federal Reserve response to a positive U.S. job market report, U.S. stocks declined and U.S. Treasury yields increased.


The November Non-Farm Payrolls report, which showed employers increasing wages amid worries of a recession and hiring more people than anticipated in November, is the driving force behind the price movement.


The blue-chip Dow Jones Industrial Average is currently trading at 34294.50, down 100.51 or -0.29%, at 19:00 GMT. The NASDAQ Composite Index is trading at 11394.84, down 87.61 or -0.76%, and the S&P 500 Index is at 4054.08, down 22.49 or -0.55%.

Jobs Hotter Than Expected Report

In contrast to economists' predictions of 200,000 jobs, the U.S. Labor Department reported that nonfarm payrolls expanded by 263,000 jobs last month. Additionally, average hourly wages rose by 0.6% from 0.5% in October. Traders have a 0.3% increase factored in. The Unemployment Rate, the report's lone positive point, remained constant at 3.7% even though the Fed would have preferred an increase.


According to the data, employers appear unconcerned about rising interest rates. They must first believe they need the people, and they must also be sure they can turn a profit even in an environment with rising interest rates.

Leading the Job Gains Were the Leisure and Hospitality Sectors

According to the report's internal statistics, the industry that added the most jobs, 88,000, was leisure and hospitality. Since consumers are traveling and dining out after being quarantined due to the pandemic, this is not really surprising.


Surprisingly, the building sector generated 20,000 jobs as well, despite the housing sector suffering from four straight rate rises of 0.75 percentage points.

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