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Daiwa Capital Markets: Raised Teslas (TSLA.O) target price from $300 to $420.The three major U.S. stock index futures continued to rise, with Nasdaq futures up 1%, S&P 500 futures up 0.8%, and Dow futures up 0.6%.On October 27, overnight Shibor was at 1.4420%, up 12.20 basis points; 7-day Shibor was at 1.5420%, up 12.80 basis points; 14-day Shibor was at 1.5980%, up 3.50 basis points; January Shibor was at 1.5570%, unchanged from the previous trading day; March Shibor was at 1.5950%, up 0.10 basis points.The Communications Authority (CA) of the Hong Kong Special Administrative Region (HKSAR) today (October 27) launched the Unmanned Aircraft System (UAS) (UAV) (UAV) Licence to support the development of the low-altitude economy. A CA spokesperson stated that under the UAV (Dedicated) Licence, licensees can be assigned dedicated spectrum in the 1430–1444 MHz band (1.4 GHz band) for the installation, maintenance, and operation of radiocommunication equipment used to operate UAVs. This provides an additional communication solution for drone activities, in addition to the current wireless local area network (WLAN) and fourth-generation or fifth-generation mobile communication networks for data transmission and operation. This further supports the safe and efficient operation of drones and fully supports the development of the low-altitude economy ecosystem through communication networks. Applications for the UAV (Dedicated) Licence are now open to participating institutions in the low-altitude economy "Regulatory Sandbox" pilot project.On October 27, Lyon published a report stating that the retail turnover of Li Ning (02331.HK)s sales points across the entire platform in the third quarter recorded a mid-single-digit decline year-on-year, with a slowdown in quarterly growth, failing to meet internal targets. By channel, online sales grew by a high single digit year-on-year, outperforming the offline channel, which recorded a high-single-digit decline. Inventory days climbed to 5 to 6 months, and discounts expanded by a low single digit compared to the same period last year. Since October, retail sales and discount pressures have continued to intensify. The bank said that although it maintains Li Nings 2025 fiscal year performance guidance, it believes that Li Ning will face challenges in recovering retail sales and maintaining a stable gross profit margin in the fourth quarter of 2025. Maintain a "hold" rating with a target price of HK$16.

WTI price falls below the $76 mark amid altering financial dynamics and global growth concerns

Alina Haynes

Mar 14, 2023 11:40

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The West Texas Intermediate (WTI) price is unchanged on Tuesday amid a weaker US Dollar and muted risk sentiment. WTI fell to a low of $72.31 on Monday as a result of a strong risk-off environment sparked by the repercussions from Silicon Valley Bank (SVB) and Signature Banks. Since then, the WTI price has risen significantly as a result of the Federal Reserve's plan to intervene. After reaching a peak of approximately $76 on Monday, the WTI price retreated as the dynamics of the US Dollar shifted.

 

The financial system is being harmed by rising borrowing costs around the world and growth concerns are being raised. The WTI price is in a corrective decline as the narrative of China's reopening does not appear optimistic, as the country has lowered its growth forecast to 5.0%.

 

The SVB debacle exacerbates global growth concerns, as it is interpreted as the first of many financial system dings. Due to rising financing costs, businesses are struggling to make their repayments, which will eventually result in a decline in demand.

 

Despite tightened production and numerous voluntary cuts from the Organization of the Petroleum Exporting Countries (OPEC), the WTI price is struggling to surpass $80.

 

Oil prices are influenced by a number of variables, including the US dollar, inflation, OPEC, and global growth concerns. Considering the aforementioned factors, it is difficult to rationalize the directional nature of oil prices, but it appears that the oil market is primarily driven by development concerns.

 

Since these nations are struggling to maintain oil prices above the desired $80 mark, it will also be crucial to monitor the OPEC position on reduced oil prices.

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