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February 9th - Since the beginning of the year, the National Integrated Circuit Industry Investment Funds (Big Fund) share reduction activities in the semiconductor sector have continued to attract market attention. On the evening of February 8th, Anlu Technology announced that its shareholder, the first phase of the Big Fund, plans to reduce its holdings by no more than 2% of the companys total share capital within the next three months. This marks the third time Anlu Technology has faced a share reduction plan from the Big Fund since 2025. Meanwhile, several other semiconductor companies, including Shanghai Silicon Industry, Telink Microelectronics, and Huizhi Microelectronics, have also recently disclosed the latest progress or plans for share reduction by the Big Fund. Based on the information released, both the first and second phases of the Big Fund have conducted share reduction operations, involving mostly listed semiconductor industry chain companies. Despite the frequent share reductions in the short term, industry insiders generally believe that this is a normal investment exit behavior for the Big Fund as an industry investment fund, and its long-term strategic direction of accompanying industry growth and supporting domestic substitution remains unchanged.On February 9th, KSTAR announced that its controlling shareholder, Ningbo KSTAR Venture Capital Partnership (Limited Partnership), plans to reduce its holdings of the companys shares by no more than 5.8222 million shares, representing 1% of the companys total share capital, within three months after 15 trading days from the date of the announcement, through block trades or centralized bidding. The reason for the reduction is its own funding needs; the shares are from shares issued before the initial public offering and shares transferred through equity distribution.TD Cowen: Lowered its target price for Estée Lauder (EL.N) from $130 to $115.AMC Theatres (AMC.N) has filed for listing hybrid securities.February 9th - Morgan Stanley strategists stated that the hype surrounding artificial intelligence (AI) supports a strong sales outlook, and US tech stocks are poised for further gains. The team, led by Michael Wilson, noted that revenue growth expectations for large-cap tech stocks have reached "decade-high levels," while valuations have declined following recent market volatility. Meanwhile, the plunge in software stocks has created "attractive entry points" for companies like Microsoft and Fiat Group. The report stated, "Situations like last week are not uncommon during major investment cycles. Nevertheless, the fundamental tailwinds for AI-enabled sectors remain, and we believe the value of AI application stocks is still not fully recognized by the market."

Gold Price Prediction: XAU / USD will continue to fluctuate above $1,900 despite a decline in US Inflation

Daniel Rogers

Mar 15, 2023 11:43

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Gold price (XAU / USD) is not in danger despite U.S. inflation figures meeting expectations. Since Monday, the precious metal has been fluctuating continuously between $1,895 and $1,913. The release of the US Consumer Price Index (CPI) failed to produce a significant reaction in the Gold price; however, the upside bias appears to be solidified as wagers on lesser rate increases from the Federal Reserve (Fed) have increased.

 

The US Dollar Index (DXY) is protecting the critical support at 103.50, but it appears vulnerable to further losses as investors' risk appetite has dramatically increased. As market participants purchased S&P500 futures in response to higher odds of a smaller rate hike from Fed chair Jerome Powell, a likely recession in the US economy was postponed, signaling an uptick in optimism.

 

Contrary to the risk-on sentiment, demand for US Treasury bonds remained weak, causing 10-year US Treasury yields to rise above 3.68 percent.

 

The headline As anticipated, the US CPI increased by 0.4% on a monthly basis, and the annual figure decreased from 6.4% to 6.0%. In addition, the core CPI, which excludes crude and food prices, decreased to 5.5% from 5.6% previously. The Fed appears to be pleased with the persistence of a declining trend in US inflation.

 

In the future, investors will closely monitor the US Retail Sales (Feb) data. Monthly Retail Sales data is anticipated to decline by 0.3% compared to the previous release of a 3.0% increase. This indicates that the consumer spending rebound is over and the Fed is on course to achieve its inflation target of 2%.

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