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Xtep International (01368.HK): Xtep main brand retail sales growth (including online and offline channels) in the fourth quarter of 2025 was flat year-on-year; Xtep main brand retail sales growth (including online and offline channels) in 2025 was low single digits year-on-year.On January 23, Hong Kong stocks opened higher but then fluctuated downwards. The Hang Seng Tech Index initially rose by over 1%, but closed up 0.32% at 26,715.73 points; the Tech Index closed up 0.12% at 5,769.23 points. On the sector front, commercial aerospace stocks were active, while photovoltaic and gold stocks rose strongly, and new consumption concepts rebounded; passenger airline stocks fell, and building materials stocks retreated. In terms of individual stocks, Junda Shares (02865.HK) surged over 29%, Goldwind Technology (02208.HK) rose nearly 9%, GigaDevice (03986.HK), Laopu Gold (06181.HK), and Chifeng Gold (06693.HK) all rose over 7%, Pop Mart (09992.HK) gained 6.5%, Ganfeng Lithium (01772.HK) and Nanjing Panda Electronics (00553.HK) climbed 5%, and Alibaba (09988.HK) climbed 2.6%; MicroPort Robotics (02252.HK) fell 4.6%, and Hua Hong Semiconductor (01347.HK), CNOOC (00883.HK), and PetroChina (00857.HK) dropped 2%.On January 23, Capital Economics reported that the Bank of Japans more optimistic stance on the economic outlook has led it to believe that a rate hike may come sooner than previously expected. At its first policy meeting in 2026, the Bank of Japan kept interest rates unchanged while raising its GDP growth forecasts for the current and next fiscal years. Marcel Thieliant of Capital Economics noted that despite the governments announcement of energy subsidies last November, the Bank of Japan did not lower its inflation forecast, leading him to believe that underlying inflation will no longer remain subdued but will instead rise moderately. With the real policy rate still deeply negative, further tightening is almost a certainty. Even with the possibility of future consumption tax cuts that could distort prices, Capital Economics believes inflationary pressures will remain robust. The firm previously predicted a July rate hike by the Bank of Japan, but now the risks seem to favor an earlier move. Regardless, the firm expects the policy rate to rise to 1.75% by the end of 2027.On January 23, Yiyitong received research from multiple institutions including Guotai Haitong, Great Wall Securities, and First Capital Securities on January 21. In response to questions about its chip and storage layout, the company stated that its subsidiary, Xingyi, was among the earliest storage companies in China. With the advancement of AI technology, user data is increasing, and the demand for storage will also grow. In the future, the company will provide more resources to focus on this track, while also considering investing in and acquiring related companies.Fitch Ratings upgrades Vietnams long-term senior secured debt rating to BBB-.

The chances of a bearish reversal for the USD/CHF rise as bears test the 200-EMA

Daniel Rogers

Jul 19, 2022 11:59

 截屏2022-07-19 上午10.03.58.png

 

The USD/CHF pair has gone sideways after exhibiting volatile volatility on Monday. The asset will likely trade sideways until volatility decreases since it hits resistance at 0.9780. As a result of failing to exceed the crucial resistance level of 0.09000, the asset saw a substantial fall.

 

A major negative reversal was foreseen by the formation of the Double Top chart pattern when the price failed to maintain its position above Tuesday's high at 0.9859. The aforementioned chart pattern frequently indicates waning demand at high levels. A negative reversal is now more likely as a result of the development of a selling tail around high levels.

 

Following the formation of a double top, the asset is forming an initiative selling structure, which points to the entry of those investors who start short positions after a bearish bias has been created. At 0.9767, the major is forming an initiative structure inside the 200-Exponential Moving Average (EMA) border, demonstrating that market participants are respecting the significant EMA.

 

However, the Relative Strength Index (RSI) (14), which signals an oncoming consolidation, has shifted into a range between 40.00 and 60.00. The asset will reach the July 5 top of 0.9705 with a sharp decrease below the July 13 low of 0.9758. If the latter barrier is breached, the asset will be more vulnerable to losses up to the 1. July high of 0.9642.

 

Alternatively, following Wednesday's violation of the 0.9827 high, the dollar bulls may defend the double top pattern. The asset will be propelled by this to its top on Thursday of 0.9886 and then encounter psychological resistance at 1.0000.


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