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JPMorgan Chase expects the Bank of England to keep interest rates unchanged in 2026, compared to its previous forecast of 25 basis point cuts in April and June. The next rate cut is expected to be delayed until the first quarter of 2027.Companies involved in rare earth projects include Mitsubishi Materials and Mitsui & Co.On March 17th, Tencent Music reported total revenue of RMB 8.64 billion in the fourth quarter of 2018, a year-on-year increase of 15.9%, and adjusted net profit of RMB 2.58 billion, a year-on-year increase of 7.6%. Full-year total revenue reached RMB 32.9 billion, a year-on-year increase of 15.8%, and adjusted net profit was RMB 9.92 billion, a year-on-year increase of 22.0%. Full-year online music subscription revenue increased by 16.0% year-on-year to RMB 17.66 billion, while full-year online music non-subscription revenue increased by 39.2% year-on-year to RMB 9.07 billion. At the same time, Tencent Music announced an annual cash dividend of approximately US$368 million (approximately RMB 2.576 billion).On March 17, Premier Li Qiang signed a State Council decree promulgating the "Decision of the State Council on Amending the Regulations on the Registration and Management of Social Organizations," which took effect on the date of promulgation. The Decision consists of eight articles, mainly stipulating the following: First, addressing the difficulties in merging and exiting industry associations and chambers of commerce, it adds provisions regarding the circumstances for mergers and terminations of industry associations and chambers of commerce. Second, addressing the lack of institutional regulations for debt handling during deregistration, it adds provisions allowing the competent business unit, industry management department, registration management authority, or interested parties to apply to the Peoples Court to appoint relevant personnel to form a liquidation team for liquidation. Third, addressing the lack of a responsible entity for applying for deregistration, it clarifies that relevant industry associations and chambers of commerce should handle changes and deregistration in accordance with the provisions of these regulations; if relevant industry associations and chambers of commerce have difficulty handling this independently, their competent business unit, industry management department, and relevant authorities should submit a request, which the registration management authority will then process.Tencent Music (TME.N) reported revenue of RMB 8.64 billion in Q4 2025, compared to RMB 7.458 billion in the same period last year.

Asian Shares Fall As Investors Analyze ECB Decisions

Charlie Brooks

Jun 10, 2022 11:14

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Asia-Pacific equities were predominantly lower on Friday morning. Ahead of U.S. inflation statistics, investors are analyzing the European Central Bank's signals for potential interest rate hikes.


At 10:49 PM ET (2:49 AM GMT), the Nikkei 225 was down 1.41 percent, and the KOSPI was down 1.08 percent.


In Australia, the ASX 200 index declined 0.99%.


The Hang Seng Index in Hong Kong fell 0.89 percent.


As a result of the Chinese government's response to a Bloomberg article, the sub-index for Hong Kong-listed IT giants opened 2.9 percent lower. Alibaba (NYSE:BABA) Group Holding Ltd.'s U.S.-listed shares plummeted after the China Securities Regulatory Commission dismissed a Bloomberg report that it was exploring a listing resurrection for the fintech company.


The Shanghai Composite rose 0.10 percent, but the Shenzhen Component rose 0.02 percent.


China's manufacturing factory-gate inflation slowed to its worst pace in 14 months in May, according to previously released data. In May, the producer pricing index (PPI) increased by 6.4% annually, compared to an increase of 8% in April. The reading was the lowest since March 2021. The cooling could be attributable to decreased demand for steel, aluminum, and other industrial commodities as a result of COVID-19-related production disruptions.


Meanwhile, the consumer price index (CPI) increased 2.1% annually.


The European Central Bank (ECB) announced on Thursday that it will prepare a quarter-point increase in interest rates in July and a larger increase in the fall if inflation remains high. Inflation in the eurozone has already surpassed 8 percent.


Short-term U.S. Treasury rates are near all-time highs for 2022 due to a selloff in the euro-area bond market in response to ECB rate rise indications.


The ECB also announced that net asset purchases will halt on July 1, 2022.


Now, investors have moved their attention to U.S. inflation data, due later in the day, for additional hints on the course of interest rate hikes by the U.S. Federal Reserve.


Bloomberg quoted Charles Schwab (NYSE:SCHW) & Co.'s chief financial strategist Liz Ann Sonders as saying, "We've reestablished the inverse relationship between bond rates and stock prices."


"There is a little more discussion, or whispering, about the CPI being a touch above forecasts. Add to that the ECB's more hawkish posture, and you get another bad day."


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