EUR/USD 1.15090
0.009%
Gold 4064.69
0.232%
Oil 79.812
1.346%
USD/JPY 157.497
0.213%
GBP/USD 1.34246
-0.056%
GBP/JPY 211.438
0.164%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On August 4th, according to South Korean media reports, the South Korean government will use national fiscal funds to cover up to all costs associated with the construction of infrastructure such as electricity and water resources in regions designated as semiconductor industry clusters. The detailed rules clarify matters related to the authorization of the Semiconductor Special Act, specifically including: the composition and operation of the Special Committee for Strengthening Semiconductor Industry Competitiveness; the designation procedures and related support measures for semiconductor industry clusters; support for semiconductor industry talent development; and the management and operation of the Special Account for Strengthening Semiconductor Industry Competitiveness. According to the regulations, the costs related to the construction and operation of industrial infrastructure required for semiconductor industry clusters can be borne by the central and local governments, with a minimum coverage of 50% and a maximum of 100% of the total project cost. Furthermore, the government can prioritize support for talent recruitment and matching for semiconductor companies outside the Seoul metropolitan area, as well as projects for local professional talent development and retraining.On August 4th, the Ukrainian Presidential Office announced on the 3rd that President Zelenskyy had dismissed Olga Stefanishina, the Ukrainian ambassador to the United States. Stefanishina was appointed ambassador in August 2025. She stated on social media that the dismissal was her own initiative and that she had "completed the main tasks planned when she took office."August 4th - HSBC Holdings (00005.HK) announced that for the six months ended June 30, 2026, the company achieved revenue of US$37.742 billion, an increase of 10.61% year-on-year; operating profit of US$17.963 billion, an increase of 18.50% year-on-year; net profit of US$15.321 billion, an increase of 23.15% year-on-year; and basic earnings per share of US$0.85.August 4th - According to Japanese media reports, the Japanese government plans to conduct commercial testing of autonomous trucks. The test routes will include not only highways but also ordinary roads to enable autonomous transportation between specific logistics bases. The government will determine the test routes and participating companies by the end of fiscal year 2026. Because driving on ordinary roads requires a higher level of technical capability than driving on highways, the Japanese government believes that conducting tests on ordinary roads is crucial for building a logistics network that utilizes autonomous trucks for long-distance transportation.India will seek parliamentary approval for a series of tax adjustments to boost foreign investment and domestic manufacturing, sources familiar with the matter said. Citing internal discussions and a publicly available list of bills, the sources said lawmakers will seek to pass legislation formalizing tax breaks for overseas investors purchasing Indian sovereign debt and exempting offshore funds from tax obligations if their investments are managed by Indian fund managers. The sources added that parliament will also vote on whether to extend tax breaks for overseas suppliers providing equipment to domestic electronics manufacturers and to offer incentives for data centers and diamond mining. Modi has been taking a series of measures to curb capital outflows and support the rupee. These measures are particularly urgent in the wake of the Iraq War, aimed at cushioning economic shocks and strengthening the economys resilience to external shocks.

WTI corrects below $77.00 as buyers grow nervous ahead of the Caixin Manufacturing PMI

Daniel Rogers

Mar 01, 2023 11:42

After encountering stiffer resistance above $77.50 in the late New York session, West Texas Intermediate (WTI) futures on the New York Mercantile Exchange have sharply reversed. As investors wait for the Caixin Manufacturing PMI data to be released, the oil price has fallen to $76.60 and is expected to remain on edge.

 

There is no disputing that international organizations and investment banking firms are optimistic about a strong economic rebound in China following the administration's dismantling of pandemic controls following a three-year lockdown. The People's Bank of China (PBoC) has pledged a complete recovery in domestic demand through expansionary monetary policy, so China's post-pandemic period is anticipated to be robust.

 

Investors are anxiously awaiting February's figures after being taken aback by January's disappointingly low Caixin Manufacturing PMI data. A prolonged period of negativity would be detrimental to the market's oil prices. In general, investors continue to be risk cautious as they anticipate a bleak future due to aggressive Western central banks. And the current low Manufacturing PMI for China will make investors' risk aversion even worse.

 

The majority predicts that IHS Markit will issue the Caixin Manufacturing PMI at 50.2, up from the previous release of 49.2.

 

In addition to the Caixin Manufacturing PMI, the United States Energy Information Administration's (EIA) oil inventory data for the week concluding February 24 will be closely monitored.

 

Despite being smaller than the previous release of nearly 10 million barrels, US American Petroleum on Tuesday reported a massive stockpile of oil stockpiles of 6.20 million barrels. For the past three months, oil inventories have been steadily growing, pointing to a sharp drop in global consumption.


Suggestion