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Samsung Electronics shares rose 7.2%.On May 27th, data from the National Bureau of Statistics showed that from January to April, industrial enterprises above the designated size achieved operating revenue of 44.89 trillion yuan, a year-on-year increase of 5.2%; operating costs reached 38.13 trillion yuan, an increase of 4.5%; and the operating profit margin was 5.43%, an increase of 0.60 percentage points year-on-year. At the end of April, the total assets of industrial enterprises above the designated size reached 192.07 trillion yuan, a year-on-year increase of 5.5%; total liabilities reached 111.39 trillion yuan, an increase of 5.9%; total owners equity reached 80.69 trillion yuan, an increase of 5.1%; and the asset-liability ratio was 58.0%, an increase of 0.2 percentage points year-on-year. At the end of April, accounts receivable of industrial enterprises above the designated size reached 27.44 trillion yuan, a year-on-year increase of 7.2%; and finished goods inventory reached 6.95 trillion yuan, an increase of 6.7%.Chinas industrial profits rose 24.7% year-on-year in April, up from 15.80% in the previous month.May 27th - According to data from the National Bureau of Statistics, from January to April, the total profits of industrial enterprises above designated size nationwide reached 2,435.84 billion yuan, a year-on-year increase of 18.2%. Among these enterprises, state-owned holding enterprises achieved total profits of 827.15 billion yuan, a year-on-year increase of 17.1%; joint-stock enterprises achieved total profits of 1,883.44 billion yuan, an increase of 24.0%; foreign-invested enterprises and enterprises invested by Hong Kong, Macao and Taiwan achieved total profits of 542.24 billion yuan, an increase of 2.3%; and private enterprises achieved total profits of 651.14 billion yuan, an increase of 23.7%. From January to April, the mining industry achieved total profits of 361.84 billion yuan, a year-on-year increase of 26.0%; the manufacturing industry achieved total profits of 1,801.99 billion yuan, an increase of 20.4%; and the electricity, heat, gas and water production and supply industry achieved total profits of 272.01 billion yuan, a decrease of 1.9%.Chinas year-to-date profits for major industrial enterprises rose 18.2% in April, up from 15.50% in April.

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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