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On March 12, Swire Properties (01972.HK) announced on the Hong Kong Stock Exchange that Long Yanyi has resigned as Managing Director and Chief Financial Officer of the company due to retirement from the Swire Group; Shi Shihua will succeed Long Yanyi as Chief Financial Officer upon her retirement and has been appointed as Managing Director; Ma Tianwei will no longer serve as a Non-Executive Director to focus on other businesses of the Swire Group. He will no longer serve as a member of the Audit Committee, but will continue to participate in the committee as an observer. Cen Mingyan has been appointed as a Non-Executive Director and a member of the Audit Committee. These resignations and appointments will take effect upon the conclusion of the Companys 2026 Annual General Meeting to be held on May 12, 2026.On March 12, Deepali Bhargava, Head of Research for Asia Pacific at ING, wrote in a report that the impact of rising oil prices on Asia will be uneven. Thailand, the Philippines, and South Korea are likely to be hit hardest, due to their weak buffers, rapid price transmission, and heavy reliance on imports, respectively. She stated, "India and China benefit from built-in shock absorbers because more than half of their energy supply still comes from coal." She pointed out that regions like Singapore appear best positioned to withstand rising oil prices should disruptions escalate. This is because they have relatively strong fiscal positions, healthier current account dynamics, and are better able to provide targeted support.Traders said the Reserve Bank of India is likely to sell dollars to support the rupee, given the surge in oil prices.On March 12th, it was observed on Alibabas judicial auction platform that several equity stakes in banks such as Jiujiang Bank and Guangdong Huaxing Bank, valued at over 100 million yuan, were recently listed again, ultimately entering the disposal process after multiple failed auctions. According to JD.coms asset trading platform, several more bank equity auctions exceeding 100 million yuan have recently been added, including approximately 223 million shares of Guangfa Bank held by Jiangsu Sugang Group, which will be auctioned in early April with a starting price of 784 million yuan, making it the highest single bank equity auction listed this year. Industry analysts point out that "in the short term, the market for auctioning equity in small and medium-sized banks will continue to be sluggish, and may exhibit characteristics of deepening discounts and reduced transaction volume." Bai Wenxi, vice chairman of the China Enterprise Capital Alliance, believes that from the perspective of industry development patterns, the "winter" in the auction of equity in small and medium-sized banks is a concentrated release of risks accumulated from the past extensive development model. The key to breaking the deadlock lies not in waiting for the market to recover, but in restoring investment value to the equity of small and medium-sized banks through substantial risk clearing, governance restructuring, and mechanism innovation.March 12 - According to CNBC, the International Energy Agencys (IEA) plan to release the largest oil reserves in history sends a clear signal that the energy market believes the war with Iran may last far longer than expected. Andy Lipow, president of Lipow Oil Associates, stated that some in the market interpret the IEAs action as indicating the conflict could last for weeks. Saul Kavonic, energy analyst at MST Marquee, also believes the scale of the release highlights the severity of the oil shortage risk, suggesting the IEA believes the war is unlikely to end quickly. Bob McNally, president of Rapidan Energy Group, said traders realize the release plan can only compensate for a small portion of the shortage caused by the Strait of Hormuz blockade, and oil prices are likely to continue rising unless a ceasefire is achieved or Irans military offensive capabilities decline, allowing tanker shipments to resume.

Crypto Cloud Storage STORJ Leads Rally by 55% As ETH, BTC Consolidate

Jimmy Khan

Jun 24, 2022 14:48

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The top cryptocurrencies were anticipated to be driving the rise when the cryptocurrency market passed the $900 billion threshold today.


Storj managed to seize dominance, overtaking every other significant cryptocurrency with its ascent despite the fact that it turned out to be a relatively unknown coin.

Storj?

Indeed, Storj. The asset is, as it sounds, the native token of a cloud storage platform supported by cryptocurrencies, which until today was merely another coin.


However, the altcoin's one-day increase of 55.08 percent succeeded to place it on the map both literally and figuratively, as it joined the top 100 cryptocurrencies list.


Due to the price increase, the asset's market value increased by approximately $100 million during the course of the previous day. This increased the asset's overall growth over the preceding nine days to a total of 156.7 percent.


More than half of the losses that the cryptocurrency sustained during the May 65 percent fall were also nullified by this rebound in addition to the losses registered by the altcoin this month during the June 9 crash.


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The green candle, which closed above both the 100-day SMA and the 50-day Simple Moving Average (red line), insured that the gain was sustained (blue line). The 200-day SMA (purple line), which would effectively transform this into a bullish run, is also getting closer.


Additionally, after more than two months, the Awesome Oscillator switched the active trend's direction from bearish to bullish, with the green bars climbing above the neutral.


Now, it has to be seen if the asset will be able to sustain this growth moving forward or if it will just be another one-day wonder.

Ethereum and Bitcoin Take a Break

The king currencies have been moving slowly, essentially not at all, as the altcoins have taken the lead.

BTC has made little progress at all during the past week, hovering around the $20k to $21k level, whereas ETH recently broke the $1.1k threshold.


However, Bitcoin's recovery has been so sluggish that the king currency has not yet reached the upswing stage that every other altcoin is presently in.


Additionally, the Relative Strength Index (RSI), which has been signaling a trend reversal for more than two months, shows that BTC is still trapped in the negative zone.


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