EUR/USD
1.16959
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Gold
3493.71
0.494%
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64.630
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147.588
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199.661
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Real-time News
Japanese Prime Minister Shigeru Ishiba has arranged to instruct ministers as early as this week to formulate economic measures to combat inflation and Trumps tariffs.Officials in Russias Rostov region said more than 300 residents were evacuated overnight due to a Ukrainian drone attack.The Hang Seng Tech Index fell more than 1%, and the Hang Seng Index fell 0.22%.On September 2nd, Bank of Japan Deputy Governor Yoshizo Himino reiterated his stance of raising the benchmark interest rate if conditions permit, but did not hint at when a rate hike might occur, causing the yen to weaken. Himino said on Tuesday: "It is appropriate for the Bank of Japan to continue raising the policy interest rate and adjusting the degree of monetary easing as economic activity and prices improve." However, as his remarks revealed few more hawkish signals, the yen weakened against the US dollar shortly after his speech. Chidu Narayanan, chief Asia-Pacific strategist at Wells Fargo in Singapore, said: "The central banks next move is still to raise interest rates, but the timing remains uncertain. Following this speech, market expectations for the Bank of Japan to raise interest rates this year have declined slightly, which may put pressure on the yen."On September 2nd, Goldman Sachs Research reported that, excluding the impact of foreign exchange and property revaluations, Longfor Group (00960.HK)s core profit fell 71% year-on-year to RMB 1.38 billion in the first half of the year, slightly less than the 70% decline in the companys profit warning. This was primarily due to a sharp deterioration in the gross profit margin of development properties, which fell 7 percentage points year-on-year to 0%, resulting in a net loss of RMB 2.6 billion in the first half of the year. Looking ahead, the bank expects continued pressure on the gross profit margin of development properties, as management cited low gross profit margins for projects sold but not yet booked in the first half of the year, and projects acquired before the downturn still account for approximately 80% of the unsold land bank. The bank lowered its core profit forecasts for 2025, 2026, 2027, and 2028 to RMB 3.3 billion, RMB 5 billion, and RMB 6.2 billion, respectively. The target price was lowered from HK$13.50 to HK$12.50, representing a 25% discount to its projected net asset value per share. The stock is rated "Buy."
