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On April 6th, following the "Science and Technology Exchange Connect" initiative, the Shenzhen Branch of the State Administration of Foreign Exchange launched another foreign exchange facilitation measure, the "Science and Technology Salary Connect" pilot program. This program focuses on providing convenient two-way foreign exchange services for the salaries of employees of key state-supported units such as high-quality enterprises, universities, and research institutions. This facilitates the cross-border flow of talent in the Guangdong-Hong Kong-Macao Greater Bay Area and supports the construction of Shenzhen as an international science and technology innovation center. It is understood that qualified employees can, through public-private partnerships with their employers, avoid submitting or repeatedly submitting documents when processing salary purchase and settlement transactions at pilot banks. This model integrates relevant foreign exchange facilitation policies, leverages corporate credit enhancement, and significantly improves the efficiency and convenience of cross-border salary processing for employees with foreign work experience, providing high-quality foreign exchange services to support Shenzhens talent attraction efforts.April 6 - Israels Homeland Defense Command announced early this morning that it had detected missiles launched from Iran towards Israel and was attempting to intercept them. Air raid sirens sounded in several parts of central Israel.Market news: Iran launched a ballistic missile toward central Israel.On April 6th, according to the Qingdao Daily, nine departments, including the Qingdao Municipal Bureau of Industry and Information Technology and the Qingdao Municipal Development and Reform Commission, jointly issued the "Qingdao Automobile Industry Stabilization and Growth Work Plan," clarifying the industry development goals and key areas of focus for 2026. The plan proposes that Qingdaos total vehicle production will remain stable at around 1 million units in 2026, with new energy vehicle production reaching 450,000 units, further addressing shortcomings in core supporting technologies such as the "three-electric" systems (battery, motor, and electronic control), automotive chips, and intelligent cockpits. In terms of projects, Qingdao will promote the construction of 57 automobile industry projects with investments exceeding 100 million yuan, accelerate the completion of 16 projects with a total investment of over 100 million yuan (totaling 14.2 billion yuan) by 2025, including FAW Forging, Jiefang Commercial Vehicle, and Chery KD projects, which are expected to generate an additional 12.8 billion yuan in output value in 2026; and promote the construction of 28 ongoing projects with a total investment of 15.8 billion yuan, with 27 projects expected to be completed in 2026, generating an additional 13.5 billion yuan in output value upon full production.Shares of South Korean companies Samsung Electronics rose more than 3%, while SK Hynix rose 0.5%.

S&P 500 Price Forecast – Stock Markets Continue to Struggle

Alice Wang

Jul 15, 2022 15:54

Technical Analysis of the S&P 500

Due to the ongoing pessimism, the S&P 500 has decreased somewhat during Thursday's trading session. At this time, it seems as if the market is prepared to go further, maybe attempting to approach the most recent lows at the 3637 level. In the end, this market should continue to see a lot of agitated behavior. I believe that fading rallies will remain a significant problem. The 50 Day EMA is now hanging in the general vicinity of the 3950 level, which serves as the ceiling at this time.


Ultimately, your indication to become engaged will be when you start to feel exhausted after brief rallies. Given the lack of global growth and the fact that inflation is still a problem, I do believe the downward trend will continue. Additionally, the Federal Reserve is rapidly tightening monetary policy, and as a result, a 100 basis point interest rate rise is being predicted. Due to the fact that the S&P 500 contains so many significant exporters, it is extremely probable that we will continue to see significant problems with the global economy.


In the end, a running season is approaching, so there could be some "hopium" waiting to happen, but after hearing J.P. Morgan declare, "We have never seen an economic scenario like this," during its results presentation, I don't think this earnings season will be cause for celebration. After a rally, I will suppress any indications of tiredness.

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