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On November 14th, Morgan Stanley stated that JD Healths (06618.HK) management is confident in achieving or exceeding its 2025 revenue growth target of 22% year-on-year, and has raised its adjusted net profit target to RMB 6.2 billion (previously approximately RMB 5.6 billion to 5.7 billion). Due to gross margin expansion and prudent cost control, adjusted operating profit (up 59.9% year-on-year) and adjusted net profit (up 42.4% year-on-year) are 39% and 15% higher than market expectations, respectively. Morgan Stanley maintains an "Equal-weight" rating on JD Health with a target price of HKD 60.On November 14th, Google (GOOG.O) submitted a restructuring plan to the European Commission after being fined €2.95 billion (approximately $3.42 billion) by the European Union for monopolistic practices in its ad technology business. However, the company did not propose splitting up the relevant business. In a statement on Friday, Google said, "Our proposal fully complies with the European Commissions decision while avoiding disruptive splitting measures that could harm thousands of European publishers and advertisers who rely on Google tools to expand their businesses." The company stated that it has submitted several proposals to adjust its ad technology operating model in the EU, including allowing publishers to set differentiated minimum prices for different bidders when using the Google Ads Management platform, and improving the interoperability of Google tools with third-party products to broaden customer choices. Google stated that it will continue to cooperate with EU officials during their evaluation of the proposals.South Koreas Ministry of Trade: South Korea and the United States will select an implementation plan for strategic investment by January 2029.South Koreas Ministry of Trade: South Korea and the United States signed a memorandum of understanding on a $350 billion strategic investment.Market news: Alphabets Google (GOOGL.O) has indicated its willingness to adjust its adtech business policies to comply with EU antitrust orders. Google has refused to sell parts of its adtech business, arguing that a breakup would disrupt publishers and advertisers.

The world's largest independent crude oil trader: oil prices still need to look at OPEC+'s face in the next few months

Oct 26, 2021 10:58

Mike Muller, Asia director of Vitol Group, the world's largest independent crude oil trader, said that in the coming months, the Organization of Petroleum Exporting Countries and its allies (OPEC+) will continue to be the main factor in oil price fluctuations, and pricing control is largely in the hands of OPEC+. . In the United States, if you need additional oil, then your production simply cannot keep up with the number of rigs.

Compared with three years ago, this is a considerable change. At that time, due to the second shale oil boom, the United States became the world's largest oil producer, which was considered to be the main factor in the rise of oil prices.

On Monday (October 4) OPEC+ agreed to maintain the current gradual increase in production plan. At the ministerial meeting that day, OPEC+ member states agreed to increase production by 400,000 barrels per day from November. OPEC+ is still in progress at 580 10,000 barrels per day of production reduction measures, but plans to gradually withdraw the production reduction agreement by April 2022 through increased production. The news of maintaining the existing production increase plan boosted oil prices on Monday. U.S. crude oil hit a new high since November 2014, and Brent crude oil hit a new high since October 2018.

Some analysts said that the Organization of the Petroleum Exporting Countries (OPEC) is unlikely to acquiesce in requesting more production and lower prices, not only because it benefits from higher prices, but also because some member states cannot increase their production capacity and they do not This oil supply is stored to maintain a higher supply.

Stephen Brennock of the oil broker PVM said on Friday that the outlook for oil prices in the near term is still supportive. The current price trend is a recovery, and only people with strong financial resources will short oil.

If winters in the northern hemisphere are as cold as expected, this dynamic in the oil market may last longer. As Europe’s natural gas reserves are below the 5-year average, despite the bleak long-term outlook, oil demand is likely to remain strong for a long time. This means that OPEC+ will continue to issue orders under the leadership of the member states with the most spare capacity.

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