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Shares of Want Want China Holdings Limited (00151.HK) fell more than 10% in the afternoon. The company announced at midday that for the year ended March 31, 2026, revenue increased by 3.8% to RMB 24.401 billion, while net profit fell by 11.5% year-on-year. The company proposed a final dividend of US cents per share.On June 30th, the National Energy Administration held a meeting in Hangzhou, Zhejiang Province, to exchange experiences on improving the level of "Getting Electricity" services. The meeting pointed out that, thanks to the joint efforts of all parties, my countrys "Getting Electricity" reform has achieved remarkable results during the 14th Five-Year Plan period. Historical breakthroughs have been made in power supply services, institutional systems, international benchmarking, and regulatory governance. A number of long-standing bottlenecks and difficulties in accessing electricity services have been effectively addressed, and shortcomings in urban and rural power supply services have been improved. This has become an important area of advantage for my country in optimizing its business environment. The meeting required that targeted policies and concerted efforts be made to address key challenges, focusing on the needs of economic development, energy transition, and the expectations of the people, using breakthroughs in key areas to drive overall improvement. It also stressed the need to uphold a correct view of performance, establish a pragmatic orientation, and achieve tangible results in promoting benchmark demonstration and guidance, serving and supporting industrial upgrading, and solving the electricity problems of the public. Finally, it emphasized the need to solidify the responsibilities of all parties, build a working pattern that is interconnected from top to bottom, coordinated horizontally, and linked internally and externally, and ensure that all policy deployments are implemented effectively.Hong Kong-listed IPO Zhen Health Medical (02697.HK) surged again in the afternoon, rising more than 210% to a high of HK$393.2.According to a survey by the think tank OMFIF, central banks plan to increase their euro holdings, but 60% of the central banks surveyed have not invested in euros due to concerns about lower returns.According to a survey by the think tank OMFIF, two-thirds of central banks plan to promote the application of AI in the next one to two years.

Gold Price Forecast: XAU/USD views $1,800 as upbeat US labor market fuels hawkish Fed wagers

Alina Haynes

Mar 09, 2023 13:55

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Gold price (XAU / USD) appears vulnerable above $1,810.00 as the upside appears constrained by rising Federal Reserve rate expectations (Fed). The precious metal is anticipated to resume its decline as strong United States Employment data reported by Automatic Data Processing (ADP) has confirmed that January's strong consumer spending and higher payrolls were not a one-time blow to the Consumer Price Index's decline (CPI).

 

S&P500 futures have given up the slight gains they made on Wednesday during the Asian session. As China's CPI and Producer Price Index (PPI) figures indicate deflation, the risk-aversion theme has intensified. The US Dollar Index (DXY) has maintained a sideways trend above 105.20 as investors await the publication of US Nonfarm Payrolls (NFP) data for fresh direction signals. The alpha provided by 10-year US Treasury bonds has risen above 3.98 percent.

 

The official US Employment data is expected to indicate a decline in the payrolls to 203K from the former release of 514k. A figure of 203K is not as terrible as January's 514K figure, but it appears insignificant in comparison. Investors should be aware that a figure of 514K in the last seven months was exceptional.

 

Aside from that, it is anticipated that the unemployment rate will remain at a multi-decade low of 3.4%. The Average Hourly Earnings are expected to ascend to 4.8% on an annual basis. Household income may increase consumer expenditure. Jerome Powell, the chairman of the Federal Reserve, has already confirmed that the Fed will increase interest rates in order to reduce inflation.