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Hong Kong-listed stablecoin concept stocks continued to strengthen in the afternoon, with Guotai Junan International (01788.HK) surging over 40%, Lion Capital Holdings (02562.HK) rising over 17%, Yunfeng Financial (00376.HK) gaining nearly 12%, and China Everbright Holdings (00165.HK) and China Renaissance Holdings (01911.HK) both rising over 8%.On April 10th, the "Guiding Opinions on Promoting the High-Quality Development of the Biomedical Industry in Zhejiang Province (Draft for Public Comment)" was released for public comment. The draft emphasizes releasing the value of data elements. It calls for accelerating the construction of the Zhejiang Provincial Medical and Bioinformatics Database, building a reliable data utilization space for the industry, exploring pathways for data resource and assetization, and aiming to create 50 high-quality corpora and industry datasets by 2030. It also explores the development and utilization of medical insurance data such as disease spectrum data to meet the needs of innovative drug research and development. Furthermore, it proposes establishing a biomedical zone in the Zhejiang Big Data Exchange Center to explore and promote the development, registration, and trading of biomedical data products.On April 10th, the Hong Kong Monetary Authority (HKMA) announced that it will release the first batch of stablecoin licenses at 5 PM. Following the announcement, licensed stablecoin issuers will meet with the media. The HKMA completed the final review of the first batch of applications in mid-March 2026 and is currently in the official public announcement preparation stage. The HKMA received 36 applications, and plans to issue 2-3 licenses in the first batch, with stringent regulatory standards. In early February, HKMA Chief Executive Eddie Yue stated that the goal was to issue the first batch of stablecoin issuer licenses in Hong Kong in March of this year. He also emphasized, "The number of licenses issued in the first batch will definitely be small, with a focus on stability."April 10th - According to Morgan Stanley, after six weeks of dramatic volatility in commodity prices, golds traditional role as a portfolio risk management tool has been called into question. Morgan Stanleys metals and mining strategist, Amy Gower, stated, "Gold is currently behaving more like a risk asset than a safe-haven asset. Normally, it should be a diversification tool in a portfolio, but that hasnt happened yet." Gower acknowledged that golds weakness after the shock was "normal" as investors rushed for liquidity, but she pointed out that gold prices are increasingly influenced by the trading behavior of large holders such as central banks and ETFs.On April 10th, Jiangsu Yueda Automobile Group Co., Ltd. issued a statement saying that recent online rumors regarding "Chery Automobile taking over the HiPhi Yancheng plant" and "Chery is coming" have attracted widespread attention. "The statements in related media reports about Chery taking over the HiPhi plant are false information," Yueda Automobile Group stated. The company clarified that Yueda Kias first plant previously collaborated with Human Horizons Technology to produce HiPhi vehicles, and ownership has remained unchanged; there is no situation where it has been "taken over by Chery."

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.