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On July 6, South Korean President Lee Jae-myung instructed officials on Monday to expedite the major chip and artificial intelligence (AI) projects announced last week. He warned that delays in licensing approvals, land acquisition, and securing electricity and water supplies could undermine South Koreas efforts to dominate advanced industries. "In this situation, the outcome seems to depend on who acts faster, who can gain the lead first," Lee said at a government meeting. "Speed is everything." Lee pointed out that the Yongin Industrial Complex, which took six years from site selection to groundbreaking, was already considered relatively fast. He stated that processes that were previously handled sequentially should be streamlined and called for shortening environmental assessments and other approval processes as much as possible. He demanded that electricity and water infrastructure be secured in advance, stating that electricity will be a particularly critical issue for the chip projects. Lee also indicated that despite the continued expansion of renewable energy supply, companies remain concerned about baseload power capacity, and therefore ordered officials to address these issues ahead of schedule.Hong Kong-listed PCB stocks declined, with Kingboard Laminates (01888.HK) falling over 10% and Kingboard Holdings (00148.HK) falling over 5%.Hong Kong-listed tech stocks rallied, with Bilibili (09626.HK) and Tencent Holdings (00700.HK) rising over 3%, Meituan (03690.HK) up 2.4%, and Alibaba (09988.HK) up 1.9%.The Hang Seng Tech Index rose 1%, the Hang Seng Index rose 0.8%, and auto stocks strengthened, with Leapmotor (09863.HK) rising nearly 7%.July 6th - From July 2nd to 3rd, the National Data Administration convened a field meeting in Beijing on the National Data Elements Comprehensive Pilot Zones (with a focus on medical data circulation and utilization). The meeting summarized and exchanged experiences in building national data elements comprehensive pilot zones, promoted the safe, compliant, and efficient circulation and utilization of data resources in the medical field, and deepened the integration of Digital China and Healthy China initiatives. The meeting emphasized the need to further strengthen top-level design and mechanism innovation. Local governments should enhance collaboration between data management departments and health departments, improve incentive mechanisms, and mobilize the enthusiasm and initiative of hospitals, doctors, and market operators to create a positive cycle for medical data circulation.

Natural Gas prices fall below $2.70 despite USD Index attempts to recover, and demand concerns grow

Alina Haynes

Mar 14, 2023 13:12

截屏2023-01-19 下午3.42.24.png 

 

After a perpendicular recovery to close to $2.70 in the Asian session, Natural Gas futures have turned sideways. Weakness in the US Dollar Index (DXY), in general, has aided the upward bias in natural gas prices. Natural Gas futures appear vulnerable near $2.70 as the USD Index has demonstrated a recovery move to near 103.90 as investors become anxious ahead of the release of the United States Consumer Price Index (CPI) data.

 

The Federal Reserve's decision to raise interest rates is anticipated to have a negative impact on industrial demand for natural gas (Fed). The market anticipates that Fed chair Jerome Powell's scheduled rate hikes will lead to a recession in the near future.

 

Meanwhile, Winter is nearing its conclusion and summer has not yet arrived. Consequently, demand for residential purposes to heat domestic spaces will remain low. Additionally, because residences will require less electricity to operate air conditioners, power companies are less reliant on natural gas.

 

The recent decline in the USD Index is what has given Natural Gas prices new life. The US Energy Information Administration's (EIA) inventory data, which is released every Thursday, will dominate this week's trading in Natural Gas futures.

 

Going forward, investors eagerly anticipate the publication of US inflation data in order to form a new consensus. According to the projections, the headline CPI could fall to 6.0% from the previous release of 6.4%. And, core inflation, which excludes crude and food prices, is anticipated to decrease slightly to 5.5% from the previous release of 5.6%.

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