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On January 12th, analysts at Metzler Asset Management noted in a report that domestic politics in Japan are once again putting pressure on the yen. Sources indicate that Prime Minister Sanae Takaichi is considering dissolving the House of Representatives, which could trigger a new general election in February. Analysts stated that although the Prime Ministers Liberal Democratic Party currently holds slightly less seats in the House than the absolute majority needed, polls suggest it may win more seats in the new election. "Market participants may worry that this will lead the government to take further measures to curb prices, thereby reducing the likelihood of a Bank of Japan interest rate hike, and thus putting downward pressure on the yen."On January 12th, the Hang Seng Index opened more than 100 points higher and trended upward throughout the day. In the afternoon, driven by a surge in tech stocks and AI applications, the Hang Seng Index rallied by over 300 points, breaking through the 26,500 mark. The Hang Seng Tech Index performed strongly throughout the day, rising over 3% at one point in the final minutes of trading. At the close, the Hang Seng Index rose 1.44% to 26,608.48 points, and the Tech Index rose 3.1% to 5,863.2 points. The total turnover of the Hang Seng Index reached HK$306.223 billion (compared to HK$245.13 billion in the previous trading day). On the sector front, AI applications led the gains, while tech stocks and internet healthcare performed well. Oil and gas equipment and lithium battery sectors saw the largest declines. In terms of individual stocks, Alibaba Health (00241.HK) closed up 10.23%, Kuaishou (01024.HK) closed up 7.43%, Zhipu (02513.HK) closed up 31.4%, Alibaba (09988.HK) closed up 5.32%, and CATL (03750.HK) closed down 2.45%.The Hang Seng Index closed up 376.69 points, or 1.44%, at 26,608.48 on Monday, January 12; the Hang Seng Tech Index closed up 176.06 points, or 3.1%, at 5,863.2; the H-share Index closed up 171.55 points, or 1.9%, at 9,220.08; and the Red Chip Index closed up 12.89 points, or 0.31%, at 4,113.96.Hong Kong stocks closed higher, with the Hang Seng Index rising 1.44% and the Tech Index rising 3.1%. The AI application sector saw a collective surge, with Zhipu (02513.HK) rising 31.4% and MINIMAX-WP (00100.HK) rising 15.36%.On January 12th, Tengjing Technology released an investor relations activity record, stating that the company provides various types of precision optical components based on the technical solutions of major domestic and international OCS (Optical System Computing) manufacturers. Among these, large-size pure YVO4 yttrium vanadate crystals have begun mass production, while other product categories are under development. The companys precision optical components can meet the stringent operating environment requirements of commercial aerospace satellite laser communication fields. Small batches of products have already been delivered to customers and are undergoing verification. Research and development projects related to large-size high-precision optical modules and high-standard sapphire filters are also progressing.

Supply continues to be tight! Upside potential for oil prices is still huge

Oct 26, 2021 10:58

U.S. oil prices have risen for five consecutive days recently and have reached the highest level since 2014. The world is concerned about energy supply, and there are signs of tight supply in crude oil, natural gas and coal markets.


Two days ago, OPEC+, formed by the Organization of the Petroleum Exporting Countries (OPEC) and the oil-producing allies headed by Russia, stated that it would adhere to the existing agreement and gradually increase oil production, rather than further increase production. The Biden administration had previously called on OPEC and its allies to increase oil production in response to soaring gasoline prices. India, another major oil consumer, also called on OPEC to consider increasing supply to ensure that prices are suitable for producers and consumers.

Kieran Clancy, a commodity economist at Capital Economics, believes that OPEC+ is under increasing pressure, but their refusal to expand production means that the market is still in deficit in the fourth quarter, indicating that oil prices will remain at least this year. It will remain high for a while.

The Commonwealth Bank of Australia (CBA) wrote in a report: "OPEC's outlook indicates a further reduction in global oil inventories. Given that oil inventories are already low, this is a problem."

They said that as the vaccination rate rises to support the reopening of the economy, the global demand for crude oil has accelerated, and rising oil prices may threaten the recovery of the global economy.

ANZ Bank said in a report: “Crude oil has expanded its gains because investors are worried that the energy crisis will push up demand and market supply is tight. Considering the global energy shortage, OPEC+'s growth rate is much lower than market expectations. Not surprisingly, people It is speculated that if demand continues to surge, OPEC will be forced to take action before the next scheduled meeting."

Prior to the arrival of the winter heating season, global supply continued to be tight, with natural gas futures prices rising by more than 9% on Tuesday, the highest closing price in nearly 13 years.

Schneider Electric's global research and analysis manager Robbie Fraser said that as the global crude oil market has been in short supply, record natural gas prices in major demand regions will lead to a strong increase in heating demand for products such as diesel and fuel oil, which will eventually support a further decline in crude oil and product inventories. , Now crude oil and product inventories are far below the normal level at this time of the year.

FxPro senior market analyst Alex Kuptsikevich said that in the past 7 weeks, oil prices have risen almost uninterruptedly. During this period, they have risen by more than 25%, but this does not mean that the upside potential has been exhausted, because most of the gains have come from deep corrections. . The kinetic energy of oil lags behind that of natural gas and coal, so it may have huge upside potential.

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