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On April 6th, Sky Links Capital CEO Daniel Takieddine stated that golds upside potential may be limited as market expectations for a Federal Reserve rate cut weaken. Strong US labor market data supported US Treasury yields, putting pressure on gold. Continued diplomatic efforts supported market expectations of a potential resolution to the Middle East conflict, further increasing uncertainty surrounding the gold outlook. However, geopolitical risks outside the Middle East and continued gold purchases by central banks are still providing support for gold prices. He pointed out that golds short-term movement will depend on upcoming US economic data, Federal Reserve policy signals, and developments in the geopolitical situation.Goldman Sachs upgraded Netflix (NFLX.O) from Neutral to Buy, raising its price target from $100.00 to $120.00.On April 6th, a signing ceremony for the Hushi Electronics AI chip-supporting high-end printed circuit board (PCB) project was held in Kunshan. The project represents a total investment of 10.1 billion yuan and aims to establish a world-leading high-end PCB production base in Kunshan. Upon completion, the project is expected to generate approximately 15 billion yuan more in annual output value compared to 2025.On April 6, according to the Islamic Republic News Agency (IRNA), Iranian Foreign Ministry spokesman Esmail Bagheei stated that Tehran has finalized its demands in the context of recent proposals to end the war, but will only announce them at an appropriate time, emphasizing that Iran will not succumb to pressure. He stated, "A few days ago, they put forward some proposals through intermediaries, and this 15-point US plan was conveyed through Pakistan and some other friendly countries." He added, "Such proposals are extremely ambitious, unusual, and illogical." He stressed that Iran has its own framework. "Based on our own interests and our considerations, we have compiled and formulated a series of demands that we have put forward in the past and present." He also denied that contact with mediators meant weakness. "The fact that Iran has quickly and bravely expressed its position on a proposal should not be seen as a sign of surrendering to the enemy."A spokesperson for the Iranian Foreign Ministry said on the 6th that Iran is prepared to respond to the mediators and will provide timely updates if necessary.

Hang Seng Index, ASX200, Nikkei 225: Markets Find Brief Relief

Jimmy Khan

Feb 28, 2023 15:37


Industry Snapshot

Tuesday's early trading period for the Hang Seng Index and the larger Asian markets was positive. This morning, the Asian markets followed the Dow and the NASDAQ Composite Index into the green.


Riskier assets received support from US economic data on Monday, as the crucial Goods Orders Non-Defense Ex Aviation increased by 0.8% in January, correcting a 0.3% decline from December.


The recent decline in crude oil prices has given rise to expectations that US inflation will experience a brief hiccup in January. However, with the US jobless rate at 3.4% and high US inflation, the Fed's conservatives will have a strong influence in the upcoming sessions. Anxiety of making a mistake would prefer an over-tightening and a gentle landing over abandoning the fight against inflation, which would support a more aggressive direction for interest rates.


Growing global conflict between the US and China has dampened expectations for a strong first quarter for the Hang Seng Index based on the China reopening narrative. Russia-China relations over Ukraine continue to be of worry.


Mixed regional economic data this morning limited the gains due to persistent challenges in the global stock markets. Consumer purchasing pleased, continuing a pattern seen in Europe and the US, while industrial sector statistics showed warning.


The NASDAQ Composite Index increased by 0.63% on Monday, while the Dow Jones and S&P 500 both saw increases of 0.22% and 0.31%, respectively. The US Futures provided assistance this morning. The NASDAQ mini increased by 41 points while the DJI mini gained 50 points.



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