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February 6th - Hong Kong stocks opened lower but rebounded throughout the day, before slightly retreating in the afternoon. At the close, the Hang Seng Index fell 1.21%, and the Hang Seng Tech Index fell 1.11%. New energy vehicle stocks rallied, with NIO-SW (09866.HK) rising nearly 7%, the company expecting to achieve its first profit in the fourth quarter of 2025. Oil stocks fluctuated higher, with PetroChina (00857.HK) and CNOOC (00883.HK) both rising over 1%. Lithium battery concept stocks were active, with Zhongchuang Aviation (03931.HK) rising over 5% and CATL (03750.HK) rising over 1%. Tea beverage stocks saw their gains narrow in the afternoon, with Chabaidao closing up 6.08%. In addition, traditional Chinese medicine, biomedicine, optical communications, coal, and new consumption concept stocks strengthened during the day. Cloud computing, wind power, nuclear power, leading internet companies, non-ferrous metals, building materials and cement, and artificial intelligence concept stocks were weak during the day.The Hang Seng Index closed down 325.29 points, or 1.21%, at 26,559.95 on Friday, February 6; the Hang Seng Tech Index closed down 59.93 points, or 1.11%, at 5,346.2; the H-share Index closed down 61.96 points, or 0.68%, at 9,031.38; and the Red Chip Index closed down 13.6 points, or 0.31%, at 4,360.7.Hong Kong stocks closed with the Hang Seng Index down 1.21% and the Hang Seng Tech Index down 1.11%. New energy vehicle companies, oil, lithium batteries, tea beverages, and traditional Chinese medicine concepts performed well; cloud computing, wind power, leading tech companies, non-ferrous metals, and building materials and cement sectors were among the biggest losers.February 6th - Today, the draft national standard for pre-prepared meals was released for public comment, outlining regulations for pre-prepared meal products from the perspectives of food safety and nutrition. Pre-prepared meals must not use spoiled or rotten ingredients. Pesticide residues, veterinary drug residues, contaminants, and mycotoxins must all meet relevant limits. Proof of origin and traceability of raw materials are essential. The production process of pre-prepared meals requires strict control of cross-contamination risks, along with temperature control and hygiene management. The standard provides detailed regulations on the amount of raw materials or ingredients used in pre-prepared meals and their content in the finished product, allowing consumers to clearly understand the products true condition through the label. The label must indicate the consumption method: pre-cooked pre-processed meals should be labeled "must be heated or reheated before consumption"; uncooked or partially cooked pre-processed meals should be labeled "must be cooked before consumption."Spains seasonally adjusted industrial production fell 0.3% year-on-year in December, compared with a forecast of 2.5% and a revised previous reading of 4.6% (up from 4.50%).

The USD/JPY crosses the 135.00 mark as the DXY rises ahead of US inflation

Daniel Rogers

Aug 10, 2022 11:32

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The USD/JPY pair is climbing northward during the Asian session in an attempt to retake its two-week high at 135.58. The asset's price turned positive on Monday as a result of the abundance of bids that occurred near 134.50. The USD/JPY pair's two-day consolidated activity shows that market participants are anxiously awaiting the release of the US Consumer Price Index (CPI).

 

Investors expect a decrease in price pressures this time, thus the release of the US inflation report is crucial. The investment community is aware that the crisis between Russia and Ukraine sharply increased oil prices, which continued to be essential to pressures on global costs.

 

A more than 11% drop in oil prices in July contributed to the black gold's continued sluggishness and lowered inflation expectations. The market anticipates that the inflation rate will decrease from 9.1% to 8.7%. The core CPI, which does not include food and oil, is anticipated to increase to 6.1% from the previously announced 5.9%. It appears that the demand for durable goods is rapidly increasing again. The US dollar index (DXY) is currently aiming to surpass the 106.40 immediate barrier.

 

The yen bulls are circling Tokyo as a result of Japan's government reorganization. Finance Minister Shunichi Suzuki will probably remain in the cabinet after this week's reorganization by Japanese Prime Minister Fumio Kishida. All eyes will now be on the Japanese government's efforts to raise the labor cost index, which is essential for keeping inflation over 2%.