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February 5th - Canadian Prime Minister Mark Carney will announce a new system of fuel efficiency standards for cars and trucks to replace the electric vehicle mandate, which has faced strong resistance from the auto industry. The plan aims to preserve jobs in the auto manufacturing sector by providing better market access for companies producing cars in Canada. Since Trump imposed tariffs on foreign cars, thousands of Canadian auto workers have lost their jobs or remained unemployed. General Motors has already cut production in Canada, while Chryslers parent company, Stellantis, withdrew its decision to reopen a plant near Toronto. The previous electric vehicle rule required automakers to ensure that at least 20% of their sales were zero-emission vehicles in the near term. The vision was that by 2035, all new light-duty vehicles sold in the country would be electric. Automakers fought against these rules, arguing that the goals were unattainable, costly, would lead to higher prices, and reduce consumer choice. Last September, Carney pledged to review the rules.Hong Kong-listed chip stocks have been declining for several days, with Hua Hong Semiconductor (01347.HK) falling by more than 5%, and other stocks such as ASMPT (00522.HK), GigaDevice (03986.HK), SMIC (00981.HK), Biren Technology (06082.HK), and Shanghai Fudan (01385.HK) following suit.Hong Kong stocks in the new consumption sector strengthened, with Pop Mart (09992.HK) rising more than 4%, and other stocks such as Gu Ming (01364.HK), Laopu Gold (06181.HK), Bruco (00325.HK), Weilong (09985.HK), and Mixue Group (02097.HK) following suit.On February 5th, according to the China Securities Regulatory Commission (CSRC) website, Brain-Computer Interface (BCI) Technology (Shanghai) Co., Ltd., a company specializing in brain-computer interfaces, completed its IPO preparatory filing with the Shanghai Securities Regulatory Bureau on February 4th, 2026, intending to conduct an initial public offering (IPO) and list on the stock exchange. The preparatory filing report shows that Xu Honglai directly holds 12.2453% of the companys shares and controls an additional 11.0879% through Beijing Brain-Computer Interface Investment Partnership (Limited Partnership) and Shanghai Brain-Computer Interface Enterprise Management Partnership (Limited Partnership), totaling 23.3332% control, making him the controlling shareholder.February 5th - According to sources, TSMC (TSM.N) will begin producing advanced 3-nanometer chips in Japan. This decision marks a significant upgrade to TSMCs manufacturing plans in Japan and a major victory for Japanese Prime Minister Sanae Takaichis technological ambitions. As the preferred chipmaker for Nvidia and Apple, TSMC has decided to adopt cutting-edge technology at its second wafer fab in Kumamoto. Sources say this represents a substantial upgrade from the original plan to produce 7-nanometer chips by the end of 2027. According to a report in the Yomiuri Shimbun on Thursday, TSMC plans to increase its total investment in its southern Japan plant to 2.6 trillion yen to drive this expansion. However, sources also indicated that TSMCs plans in Japan are still in the early stages of discussion and may be subject to change.

AUD/JPY Exceeds 90.30 As RBA Considers Option To Raise Rates Prior To Pause

Daniel Rogers

Apr 18, 2023 14:02

AUD:JPY.png 

 

Following the release of the minutes from the Reserve Bank of Australia (RBA), the AUD/JPY pair surged above the 90.30-point critical resistance level. According to the RBA minutes, policymakers actively considered the decision to raise rates further. However, the decision to maintain the status quo was made after the collection of additional data.

 

Citing the resilience of Australia's financial system, RBA policymakers believed that the Board's future cash rate decisions would depend on the global economy, household spending trends, inflation projections, and employment forecasts.

 

Continue to monitor China's Gross Domestic Product (GDP) statistics. Compared to its stagnant performance in the final quarter of CY2022, the Chinese economy is estimated to have grown by 2.2%. Compared to the previous annual growth rate of 2.9%, the current annual growth rate for the economy is 4.0%. Australia is China's greatest trading partner, and stronger Chinese GDP data would strengthen the Australian Dollar.

 

The announcement of the People's Bank of China (PBOC) interest rate decision later this week will be crucial. Last week, the People's Bank of China pledged to provide additional monetary support to spur retail demand. Despite the reopening of China's economy following a period of economic restraint, the country's inflation rate has been consistently declining over the past few months.

 

According to Jiji news and Reuters, the Bank of Japan is reportedly considering a projection for consumer price growth between 1.6% and 1.9% for the 2025 fiscal year, a move seen as preventing market participants from betting on the central bank's departure from stimulus. This has also delayed the possibility of a shift away from an expansionary monetary policy, which cannot be considered until the Japanese inflation rate persists above 2%.


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