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According to the Jordanian state news agency, Jordan intercepted and shot down four missiles that entered Jordanian airspace from Iranian territory.July 14th - A new type of leveraged ETF tracking major South Korean chip stocks is experiencing a sharp decline, posing a significant risk of substantial losses for South Korean retail investors who prefer to leverage such instruments for amplified returns. According to data compiled by foreign media, since their listing at the end of May, the prices of more than ten leveraged ETFs tracking Samsung Electronics and SK Hynix have nearly halved. Among them, the largest, the KODEX SK Hynix Single Stock Leveraged ETF with $3.4 billion in assets under management, has fallen by approximately 45% since its listing and more than 60% from its June high. Jung In Yun, CEO of Fibonacci Asset Management, stated, "The sharp decline in these leveraged ETFs is particularly devastating for retail investors, as many seem to view them as long-term investments rather than short-term trading tools. These massive losses could weaken retail investors willingness and ability to buy semiconductor stocks, making the markets future recovery more reliant on inflows of foreign institutional funds."July 14th - Industry data released on Tuesday showed that Samsung Electronics regained the top spot in the global smartphone market in the second quarter, surpassing its US rival Apple. Data from market research firm Counterpoint Research showed that Samsung accounted for 24% of global smartphone shipments between April and June, while Apple ranked second with a 20% market share. Previous data from the firm indicated that in the first quarter, Apple led the global smartphone market with a 21% market share, ahead of Samsungs 20%. Counterpoint attributed Samsungs strong second-quarter performance to strong sales of the Galaxy S26 series, relatively moderate price adjustments in key markets such as India and the Middle East, and aggressive promotional activities.On July 14th, Nomura lowered its non-IFRS net profit forecasts for Tencent Holdings (00700.HK) for fiscal years 2026 and 2027 by 2% and 1% respectively, reflecting the potential pressure on profit margins from continued increased investment in AI. Nomura maintained its "Buy" rating with an unchanged target price of HK$727. The bank noted that Tencent has made positive progress in the AI field in recent months, including the launch of the widely acclaimed Hunyuan 3.0 official version in early July, and the desktop AI assistant WorkBuddy becoming one of the most popular PC AI agents in mainland China. Nomura believes that Tencent has the ability to narrow the gap with current leading AI companies. However, as competitors such as Alibaba and ByteDance have also launched similar PC AI agent products, and user switching costs and willingness to pay are low, competition in the relevant market is expected to remain fierce in the short term.According to Iranian media Fars News, the Bahrain banking system suffered a cyberattack, resulting in service disruptions.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.


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