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Hong Kong stocks rose in the short term, with the Hang Seng Index turning positive and the Hang Seng Tech Index narrowing its losses to 1.1%. Tencent Holdings (00700.HK) surged in the short term and is currently up nearly 1%.On August 19th, it was reported that Gaianixx, a Japanese chip materials startup spun off from the University of Tokyo, is accelerating its capacity expansion, betting on increased demand for chip materials driven by the AI boom. Gaianixx co-founder and CEO Kento Nakao stated that the company plans to expand capacity at its technology center in Yamanashi Prefecture, southwest of Tokyo, which currently processes 15,000 8-inch wafers annually. In an interview with Nikkei Asia, Nakao said, "The most advanced projects could enter the pilot production phase by the end of this year." He revealed that a Japanese customer and an overseas customer have committed to using Gaianixx materials to develop devices. This expansion comes at a time when chipmakers are increasingly seeking to improve performance through advanced materials. As the traditional path of upgrading by shrinking transistor size faces bottlenecks, Gaianixx believes this trend presents an opportunity for Japan.Shell (SHEL.N) is investing in a new supply chain in Queensland, Australia, with its QGC project set to begin supplying gas in 2027.On August 19th, Unitree Robotics officially listed on the STAR Market, opening with a 629.44% surge to 1100 yuan per share, giving it a total market capitalization of 444.9 billion yuan. Based on the issue price of 150.80 yuan per share, a single winning bid could yield a profit of 474,600 yuan. As one of the "Six Little Dragons of Hangzhou," Unitree Robotics boasts a star-studded shareholder base. Analysis reveals that Asstrend IV, an affiliate of Shunwei Capital founded by Lei Jun, holds 16.106 million shares, with a potential unrealized profit exceeding 15.2 billion yuan.Faraday Future (FFIE.O): We support AIxC’s comprehensive strategic transformation, focusing on physical AI and robot sharing and rental operations; RoboShare has completed its first paid commercial order, with an initial robot fleet of more than 80 robots.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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