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Real-time News
According to Hong Kong Stock Exchange documents, Beijing Rongxin Digital Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.June 17th - The market generally believes that the Federal Reserve will maintain interest rates unchanged. However, uncertainty lies in the economic outlook and how new Chairman Warsh will lead the Fed. The Fed currently faces a resilient job market, strong consumer spending, and inflation still above target. However, the high price readings may decline later this year. Furthermore, Fed watchers expect Warsh to attempt to reshape some of the Feds communication and policy decision-making practices. While its unclear how much will change at the first meeting, its widely expected that he will move in the following directions: reduce the Feds forward guidance on interest rate expectations; possibly abolish the so-called "dot plot," with some suggesting Warsh might not even submit his own forecasts at this meeting; and reduce the frequency of press conferences. Nancy Houten, chief US economist at Oxford Economics, expects the Fed not to raise rates in June, but will adjust its wording, removing any dovish signals. At the last meeting, some members wanted a more open-ended approach, rather than implying that the next step would definitely be a rate cut. While the market has already priced in the possibility of a rate hike later this year, the baseline forecast is a rate cut in December. However, the economist acknowledges the risk that a rate cut may occur later than December.Tencent Holdings (00700.HK): On June 17, it repurchased 1.118 million shares, costing approximately HK$500 million.Tencent Holdings (00700.HK): On June 17, it spent approximately HK$500 million to repurchase 1.118 million shares on the Hong Kong Stock Exchange.On June 17th, Investecs Sandra Horsfield stated in a report that UK inflation data further supports the Bank of Englands case for not raising interest rates at all this year and instead keeping rates stable. The flat inflation rate of 2.8% in May paints a more optimistic outlook than expected, with only two subcategories of inflation – transport and the much less influential communications – pushing up the overall inflation rate. This data should reassure policymakers, although the money market has already priced in an expectation of one rate hike this year. "Even if this rate hike were to occur, we believe it might not be necessary in the current economic environment, as a weakening labor market limits the risk of a second round of inflationary pressures," Horsfield said.
