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Kuaishou (01024.HK): In the fourth quarter of 2025, the GMV of its e-commerce business increased by 12.9% year-on-year to RMB 521.8 billion.Kuaishou (01024.HK): In the fourth quarter of 2025, the online marketing service expenditure brought by AIGC marketing materials reached RMB 4 billion.On March 25th, Kuaishou (01024.HK) announced in Hong Kong that in the fourth quarter of 2025, the average daily active users of the Kuaishou app reached 407.7 million, representing steady year-on-year growth. Total revenue increased by 11.8% year-on-year to RMB 39.6 billion, of which core business revenue, including online marketing services and other services mainly focused on e-commerce, increased by 17.1% year-on-year. Adjusted net profit for the fourth quarter of 2025 reached RMB 5.5 billion. For the full year of 2025, the average daily active users of the Kuaishou app reached 410.2 million, total revenue increased by 12.5% year-on-year to RMB 142.8 billion, and adjusted net profit for the full year reached RMB 20.6 billion, representing a year-on-year increase of 16.5%, with an adjusted net profit margin of 14.5%. While increasing investment in AI, we still achieved a steady improvement in the Groups overall profitability, and AI capabilities have become the core engine driving Kuaishous long-term growth.US space-related stocks rose in pre-market trading, with DXYZ surging nearly 15%, Rocket Lab, AST SpaceMobile, Redwire, and Planet Labs all rising more than 3%, and Destiny Tech 100 climbing 17.7%, following reports that SpaceX may file for IPO as early as this week.March 25th - Hong Kong stocks continued yesterdays upward trend, with the Hang Seng Index rising over 300 points at one point, driven by strong performance from blue-chip stocks. The Hang Seng Index opened 216 points higher at 25280, filling all the gaps from Mondays decline and rising above its annual moving average. The market initially rallied strongly, rising as much as 326 points to a high of 25390, but selling pressure increased, significantly narrowing gains near midday. In the afternoon, it softened, falling as much as 48 points to a low of 25015, before recovering and stabilizing thanks to a surge in tech stocks driven by positive news from mainland China. At the close, the Hang Seng Index rose 1.09%, the Tech Index rose 1.91%, and the total turnover of the Hang Seng Index was HK$350.93 billion. On the market, optical communication, electronic components, and green electricity concept stocks led the gains, while film and television and agricultural stocks rebounded, and precious metals and non-alcoholic beverage stocks continued yesterdays strong performance. New consumption concept stocks fluctuated and retreated, while gaming, real estate, and highway transportation stocks fell sharply, and oil and gas production and coal stocks corrected. In terms of individual stocks, Meituan (03690.HK) rose nearly 14%, Nongfu Spring (09633.HK) rose over 9%, and JD.com (09618.HK) and Alibaba (09988.HK) both rose over 4%; Pop Mart (09992.HK) fell over 22.5%, and Haidilao (06862.HK) fell over 11%.

USD/CAD declines to 1.3500 on firmer Oil prices, BoC concerns over US inflation, and Fed Minutes

Daniel Rogers

Apr 10, 2023 14:35

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The USD/CAD maintains losses close to 1.3500, shattering a four-day winning trend, as traders brace for key Easter Monday data/events on major bourses. However, the recent decline in the Loonie-U.S. dollar exchange rate may be due to the increase in the price of WTI petroleum oil, Canada's primary export. In contrast to the recent increase in ardent Fed forecasts, the Bank of Canada's (BoC) dovish bias poses a challenge to pair sellers.

 

After increasing for three consecutive weeks, WTI crude oil prices gain 0.61 percent intraday near $80.00. Recent increases in the price of black gold may be due to geopolitical concerns surrounding China and Taiwan. In addition to the supply cut by OPEC+ and the faltering US dollar, the energy benchmark is sustained by the supply cut by OPEC+ and the weakening US dollar.

 

However, the US Dollar Index (DXY) has fallen for three consecutive weeks and is under pressure near 102,000.

 

Fears of higher Fed rates versus inaction from the Bank of Canada (BoC) grew after the upbeat US Jobs report versus the lack of significant positives in the March Canadian jobs report.

 

As a result, the CME's FedWatch Tool indicates a 69% chance of a 0.25 basis point rate hike in May, up from 55% prior to the US employment report.

 

Canada's headline Net Change in Employment increased to 34.7K in March from 21.8K in February, compared to the market consensus of 12K, while the Unemployment Rate came in at 5% versus the analysts' estimate of 5.0%. During the specified month, the Participation Rate decreased to 65.6% from the expected and previous rate of 65.7%. In addition, the average hourly wage fell 5.2% year-over-year in March, down from 5.5% in February.

 

In contrast, the US Bureau of Labor Statistics (BLS) reported that Nonfarm Payrolls (NFP) increased by 236K in March, the lowest increase since January 2021 (considering revisions), compared to the expected 240K and the previous 330,000. Additionally, the unemployment rate fell from 3.6% to 3.5%, while the labor force participation rate rose from 62.6% to 62.6%. The annual wage inflation rate decreased from 4.6% to 4.2%, below market expectations of 4.3%.

 

Futures on US equities ended higher, but yields remain under pressure ahead of the crucial BoC monetary policy meeting, US inflation, and Fed Minutes. Given the dovish concerns from the Bank of Canada (BoC) and the likely hawkish comments in the FOMC Minutes, the USD/CAD may see additional gains, barring any unexpected developments.


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