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Real-time News
May 6, US President Trump said Moscow and Kiev want to resolve the Ukrainian conflict, while Russian President Vladimir Putin is more inclined to peace after the recent drop in oil prices. "Now that the price of oil has dropped, I think we are in a good position for reconciliation. Russia wants to reconcile and Ukraine wants to reconcile," Trump told reporters in the Oval Office on Monday. "We have come a long way and something may happen, hopefully it will. As you know, President Putin just announced a three-day ceasefire, which doesnt sound like much, but it means a lot if you know where we are coming from. This is a war that should never have happened."On May 6, UBS published a report stating that the Hong Kong Stock Exchange (00388.HK)s first-quarter revenue and profit both exceeded expectations, and pointed out that the second quarter will face a more challenging base. Last years second-quarter revenue and net profit increased by 8% and 9% year-on-year. The bank said that the average daily trading volume may increase by HK$119 billion and drive revenue and net profit to increase by 4% to 5% and 7% respectively in 2026 due to the possible delisting of Chinese concept stocks and listing in Hong Kong. However, investor feedback shows that the increase in average daily trading volume may be small, about HK$10 billion to HK$15 billion, and the increase in revenue and net profit is only 3% to 5%. In addition, due to weak market conditions and a small number of eligible companies, the valuation discount brought about by market value migration may be greater. In the short term, due to the lack of market liquidity, the transaction speed may also be low. UBS said that taking into account the market activities since the second quarter, it has raised its forecast for this years average daily turnover from HK$159 billion to HK$170 billion, lowered its operating expenses for the period by 1% each, and raised its earnings per share forecast for the period by 6%, 4% and 4% to HK$10.8, HK$9.7 and HK$9.9 respectively, and raised its target price for the Hong Kong Stock Exchange from HK$320 to HK$344, with a neutral rating.According to KCNA: A Belarusian delegation will visit North Korea this week.On May 6, Goldman Sachs published a research report stating that COSCO Shipping Ports (01199.HK)s first-quarter net profit increased by 33% year-on-year and fell by 4% quarter-on-quarter, which was better than expected, mainly driven by the groups overseas performance. The bank raised the groups European port throughput forecast and raised its net profit forecast for 2025 to 27 by 1 to 2%. After adjusting the market value of listed assets, the target price was lowered from HK$5.4 to HK$5.3, and the buy rating was continued.May 6, MFS Investment Management chief economist and portfolio manager Weissman said in a report that Federal Reserve Chairman Powell may point out at this weeks meeting that the U.S. Treasury market is functioning normally after a brief turmoil. Powell may also point out that liquidity tools are available if market conditions permit. In addition, as bank reserve balances continue to decline, some may advocate a complete end to quantitative tightening. But Weissman said that given that the Fed has just slowed the pace of quantitative easing, Powell is unlikely to feel the need to take more action in this area in the near future.
