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On August 20th, Alibaba Group (09988.HK) announced its quarterly results for the period ending June 30, 2026. CEO Wu Yongming stated, “We achieved strong results this quarter, with our full-stack AI capabilities driving continued growth in commercial returns. Specifically, Alibaba Cloud’s external commercial revenue accelerated to 45%, and AI-related product revenue has achieved triple-digit year-on-year growth for the twelfth consecutive quarter. Our recently released cutting-edge language, programming, video, voice, image, and music models all rank among the top performers. We launched Qianwen Office, an AI productivity platform designed to enhance enterprise productivity and capabilities. Thanks to our full-stack AI strategy, Alibaba…” "Baidu is in a very favorable position to capitalize on the enormous growth opportunities in the artificial intelligence and AI computing power market," said Xu Hong, CFO of Alibaba Group. "This quarter, the Group achieved strong revenue growth, and the profit margins of its core businesses continued to improve. Specifically, the cloud segments revenue continued to accelerate, with high-quality earnings and operating leverage driving the EBITA margin to 12%; instant retail maintained its market share while continuously optimizing efficiency, and overall e-commerce profits remained stable. As the synergies of our core businesses are further released and more AI commercializations are gradually implemented, we will have greater flexibility in terms of strategy and financial resources to continue our disciplined investment in full-stack AI capabilities."The military administration of Kyiv reports that the death toll in Kyiv has risen to 15.The Ukrainian military reported attacks on Russias Taneko oil refinery and an oil terminal in the Krasnodar region.Alibaba (BABA.N) shares fell more than 4% in pre-market trading.Alibaba (09988.HK): Revenue from AI labs and applications grew by 16% in the first quarter.

As the BoJ ponders a YCC expansion, EUR/JPY continues to decline, falling below 142.60

Alina Haynes

Apr 06, 2023 11:52

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After plunging below 142.60 during the Asian trading session, the EUR/JPY pair's three-day losing trend was extended. Renewed rumors of an expansion of the Bank of Japan's (BoJ) Yield Curve Control (YCC) are exerting immense pressure on the cross.

 

The Japanese economy is experiencing gradual wage growth, and inflation is expected to respond to recent increases in crude oil prices. Analysts at Wells Fargo believe the BoJ will take advantage of a tactical opportunity to further modify its policy settings in the fourth quarter of 2022, and are inclined toward a meeting in October. They added that this timeframe is optimal for a smooth policy adjustment, as monetary easing from the Federal Reserve (Fed) and other major central banks should alleviate yield pressure.

 

In particular, the Bank of Japan (BoJ) will raise the target yield for 10-year Japanese government bonds (JGBs) from 0% to 0.25% and increase the tolerance interval surrounding this target to +/- 75 basis points.

 

Accelerating PMIs in the Eurozone provide support for the European Central Bank's sustained rate hikes. (ECB). S&P Global reported a Composite PMI of 53.7 on Wednesday, which was higher than the previous release of 52.0 but below expectations of 54.1, the highest level in the past ten months.

 

According to Reuters, S&P Global issued the following statement: "Manufacturing production increased slightly, but the service sector had the greatest impact on March's accelerated growth."

 

Wednesday, ECB policymaker Boris Vuji stated regarding interest rate forecasts, "The majority of the rate-hiking cycle has passed." He added, "We may require additional rate increases to address core inflation."

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