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February 9th - The overnight SHIBOR was 1.2700%, down 0.70 basis points; the 7-day SHIBOR was 1.5050%, up 7.00 basis points; the 14-day SHIBOR was 1.5840%, up 8.00 basis points; the 1-month SHIBOR was 1.5500%, unchanged from the previous trading day; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.On February 9th, NIO founder, chairman, and CEO William Li announced plans to build 1,000 new battery swapping stations by 2026, increasing the number of "scenic charging routes" to 100. Following the completion of the G318 Sichuan-Tibet and Yunnan-Tibet battery swapping routes last year, the Silk Road battery swapping route will be opened this year. Furthermore, large-scale construction of the fifth-generation battery swapping stations will begin this year.February 9th - BNP Paribas economists stated that the ruling Liberal Democratic Partys (LDP) victory in the general election is expected to further strengthen its stringent economic policies. Their research report noted, "While there are still cautious opinions within the LDP regarding a consumption tax cut, the likelihood of its implementation has significantly increased given the election results." Analysts believe that considering the Prime Ministers public commitment to implementing the consumption tax cut by fiscal year 2026 and his overwhelming victory, the government is likely to accelerate the implementation of this measure while remaining focused on market stability. The report also pointed out that the LDPs victory could make it easier for the Takashimakata municipal government to push through the increased defense spending requested by the United States.On February 9th, Bank of America Securities issued a report stating that Meitu (01357.HK) expects its non-GAAP adjusted net profit for last year to grow by 60% to 66%, to RMB 938 million to RMB 973 million, with a median growth of 63% to RMB 955 million, slightly higher than market expectations and Bank of Americas forecast by 1%. This is mainly driven by two factors: rapid growth in product revenue and operating leverage. Bank of America Securities maintains its "Buy" rating on Meitu with a target price of HKD 11.3, based on the strong profit expansion driven by the increase in the proportion of paying users and operating leverage.On February 9th, Daiwa Securities issued a report stating that Yum China (09987.HK)s fourth-quarter results for 2025 exceeded expectations. KFCs same-store sales growth was better than anticipated, and the price increase for delivery channels in January indicated a recovery in consumer confidence and a more rational pricing trend in the industry. The report noted that Yum Chinas management forecasts a slight year-on-year increase in operating profit margin for 2026, but with improved competition in the Chinese market, further room for profit margins to exceed market expectations is anticipated. Daiwa reiterated its "Buy" rating on Yum China and raised its target price from HK$450 to HK$520.

S&P 500 Price Forecast – Stock Markets Have a Quiet Wednesday

Steven Zhao

Dec 08, 2022 15:57

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Technical Analysis of the S&P 500

During Wednesday's trading session, the S&P 500 slightly declined and tested the 50-Day EMA. The market is currently in a state where we will oscillate within this broad range while paying close attention to both the 50-Day EMA and the 200-Day MA. We also need to consider the fact that many people will be watching the Federal Reserve meeting that will take place the following week. Due to this, there may be a lot of erratic activity over the ensuing few days; therefore, if we were to drop below the 50-Day EMA, it's likely that prices may move as low as the 3800 mark.


The 200-Day EMA and perhaps that downtrend line would be your short-term targets if we were to reverse direction and move to the upside, respectively. The S&P 500 E-mini could soar to the 4200 level if we can break above the downtrend line, but in the end, I believe that would require a lot of work. Due to this, you should proceed with extreme caution in this situation and be aware that, until the FOMC meeting the following week, we will likely only be kicking pebbles at each other.


The fact that liquidity is poised to decline dramatically will make things even more fascinating. Ultimately, you should proceed with prudence in this case, especially given the number of moving parts that are currently present in the world. As a result, I believe that using caution is preferable to using bravery.

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