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On November 12th, the State Administration for Market Regulation (SAMR) recently conducted spot checks on the validity of mandatory product certification. The checks covered 3,001 batches of products across 23 categories (household gas stoves, electric bicycles, fire extinguishers, wires and cables, small appliances, lighting fixtures, childrens smartwatches, electric blankets, and electric heaters), representing a 73.5% coverage rate of certification bodies. Spot checks were also conducted on 123 batches of products in the low-voltage components and power tools categories that undergo mandatory product certification through self-declaration evaluation. Certification bodies have revoked a total of 1,557 certification certificates for manufacturers and products that failed to meet certification requirements, in accordance with relevant regulations.On November 12th, Kema Technology stated on its interactive platform that its advanced ceramics are mainly used in front-end process equipment for wafer manufacturing (including memory chips), and have already been applied to various equipment such as etching, thin film deposition, ion implantation, photolithography, and oxidation diffusion. To date, the companys 12-inch electrostatic chuck has completed verification and achieved small-scale mass production, and its 12-inch multi-zone heated electrostatic chuck has completed product development; the company is actively advancing its verification process.According to RIA Novosti, Russian air defense forces shot down 22 Ukrainian drones last night.On November 12th, Baili Tianheng (02615.HK), which was conducting its IPO from November 7th to noon on November 12th and originally expected to list on November 17th, announced in a midday announcement that, given the current market conditions and after consulting with the overall coordinator, the company has decided to postpone the global offering and will not proceed according to the prospectus. The international underwriting agreement will not be entered into, and the public offering underwriting agreement will not be unconditional. Baili Tianheng stated that application funds will be refunded on November 17th (next Monday). As of 10:00 AM today, based on brokerage data estimates, Baili Tianhengs margin financing amounted to approximately HK$6.33 billion, representing an oversubscription of approximately 17.8 times based on the public offering fundraising amount of HK$336 million. Baili Tianheng stated that the decision to postpone the global offering will not affect the companys current business, and the company is committed to developing and expanding its business. Meanwhile, the company and its overall coordinator are carefully evaluating a revised timetable for the global offering and listing.Federal Reserve Governor Barr made no comments on monetary policy or the economic outlook in his speech in Singapore on preparations for artificial intelligence.

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

Alice Wang

Jan 05, 2023 14:54


Technical Analysis of the S&P 500

The S&P 500 had some bumpy trading on Wednesday as there were still many uncertainties surrounding the state of the world economy. The minutes from the FOMC meeting will be released later today, and Friday will see the release of the employment report. Having said that, I believe it's only a matter of time until we have to make a greater choice, so by the end of the week, I believe we will have much more clarity on our course of action.


Despite Wall Street's seeming lack of concern most of the time, the economy does not sustain a robust stock market. They will be more surprised to learn that the Federal Reserve is likely to maintain its strict monetary policy, which will keep the S&P 500 under pressure as Wall Street looks for cheap money since many of the bigger companies are leveraged to very aggressive levels.


They're going to have big problems as long as that continues to be the case. Additionally, this year is going to see a number of credit occurrences, which is poison to stocks. In the meantime, though, we could see rallies, but I believe the 50-Day EMA above around the 3900 level may provide substantial resistance. A move above there makes it possible to seek the 4000 level, but I believe that at that point, opposition becomes much more aggressive. 

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