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On January 19th, Shanghai Petrochemical announced that it expects a net loss attributable to shareholders of the parent company of approximately RMB 1.289 billion to RMB 1.576 billion in 2025, compared to a loss in the same period of 2024. The estimated net loss attributable to shareholders of the parent company after deducting non-recurring gains and losses is approximately RMB 1.28 billion to RMB 1.564 billion. In the same period of 2024, the net profit attributable to shareholders of the parent company was RMB 317 million, and the net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was RMB 338 million. The main reason for the expected loss in 2025 is that international crude oil prices are generally trending downwards, product market demand has not improved significantly, the gross profit margin of the companys main refining products has shrunk, and the total volume of goods sold has decreased due to the major overhaul of the companys production facilities in the fourth quarter. These factors combined have led to the companys operating loss.According to Hong Kong Stock Exchange filings, Xiaomi Group repurchased 4 million Class B shares on January 19, spending approximately HK$150 million.On January 19th, the Nanjing Municipal Government website released the "Nanjing Municipal Online Ride-Hailing Service Management Measures." Addressing issues such as "opaque commission rates" charged by ride-hailing platforms, the measures stipulate that platforms must publicly disclose their maximum commission rates and, after each order is completed, list the "total amount paid by the passenger, the drivers actual income, and the commission" on the drivers end. If the commission exceeds the limit, the driver can file a complaint. The measures will take effect on February 14th. This is the first systematic revision of Nanjings initial ride-hailing management measures since their implementation in 2017. Compared to the old version, the measures lower several "thresholds." Regarding vehicles, the entry requirements have been relaxed from "initial registration" to "no more than 2 years since initial registration," and additional requirements such as "electronic stability control systems" have been removed. Regarding drivers, the clause requiring "Nanjing household registration or residence permit" has been deleted.The final reading of the Eurozones core CPI annual rate for December was 2.3%, in line with expectations and unchanged from the previous reading.The final reading of the Eurozones core CPI for December was 0.2%, unchanged from the previous month.

Before the US NFP, the USD/JPY is likely to decrease to roughly 132.00

Alina Haynes

Aug 05, 2022 14:49

截屏2022-08-05 上午9.50.18.png 

 

The difficulties that the USD/JPY pair met around 133.00 during the Asian session are now in full force. As investors predict a disappointing result from the US Nonfarm Payrolls (NFP) data, the asset has printed a low of 132.77 and is projected to decrease further to about 132.00.

 

JP Morgan experts projected that the US Nonfarm Payrolls (NFP) will be poorer than expected at 200K in the July labor market statistics, compared to the consensus expectation of 250k jobs gained in the month. The US economy produced 372k new jobs in the labor market in June. The labor market is under great pressure as a result of data showing a continued fall in job creation. The unemployment rate, though, will be constant at 3.6 percent.

 

Increased labor market dangers are a result of rising interest rates and their compounding impacts. Due to pricey dollars, business players are unable to invest without reluctance. Low investment possibilities cannot thus speed the process of creating jobs.

 

Despite the Federal Reserve (Fed) policymakers' enhanced interest rate ambitions, the US dollar index (DXY) has thrown up the support of 106.00. According to Cleveland Fed President Loretta J. Mester, ending the policy tightening program without detecting a decline in the inflation rate for several months is not conceivable at interest rates above 4 percent .

 

Tokyo's entire household expenditure has dramatically climbed from the previous report of -0.5 percent and the predictions of 1.5 percent to 3.5 percent. As an inflation indicator, the economic data may aid the yen bulls. The economic data have greatly improved, which means that the inflation rate may climb much further. The findings may, however, be largely impacted by growing energy expenditures. However, a hike in the labor cost index is shortly to come in order to keep the inflation rate over 2 percent.


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