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SK Hynix shares rose 12% to 1.893 million won.Most Chinese concept stocks returning to Hong Kong fell, with New Oriental (09901.HK) down more than 5%, GDS Holdings (09698.HK) and Baidu (09888.HK) down more than 4%, and Huazhu Group-S (01179.HK), Bilibili (09626.HK) and Alibaba (09988.HK) down more than 3%.On May 11th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.1380%, and the lowest was 0.9360%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0310%, and the lowest was 1.0010%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.1200%, and the lowest was 1.0020%.On May 11, data from the National Bureau of Statistics showed that in April, prices for food, tobacco, alcohol, and dining out decreased by 0.8% year-on-year, contributing approximately 0.24 percentage points to the decline in the Consumer Price Index (CPI). Within the food category, meat prices decreased by 6.7%, contributing approximately 0.28 percentage points to the decline in the CPI, with pork prices decreasing by 15.2%, contributing approximately 0.29 percentage points to the decline in the CPI. Fresh fruit prices decreased by 1.0%, contributing approximately 0.02 percentage points to the decline in the CPI; fresh vegetable prices decreased by 0.5%, contributing approximately 0.01 percentage points to the decline in the CPI; and aquatic product prices increased by 1.3%, contributing approximately 0.02 percentage points to the increase in the CPI.Chinas April CPI rose 0.3% month-on-month, below the expected -0.1% and the previous reading of -0.7%.

Panasonic Anticipates A Rise in Global Automobile Production This Fiscal Year

Aria Thomas

Jun 01, 2022 14:49

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Panasonic (OTC:PCRFY) Holdings Corp, which manufactures batteries for Tesla (NASDAQ:TSLA) and other automakers, stated on Wednesday that it anticipates a recovery in global vehicle production this fiscal year, but that the two-year semiconductor shortage will persist.


Masashi Nagayasu, CEO of the Japanese conglomerate's automotive business, which manufactures in-car infotainment systems and other auto components, stated, "We will operate our business in consideration of the risks of fluctuations in vehicle manufacturing."


Nagayasu stated on the first day of Panasonic's annual investor event that the company has no plans to produce automobiles.


Panasonic, whose automotive division accounts for approximately 14 percent of its entire revenue, anticipates a 19 percent increase in sales for the fiscal year ending in March 2023. It anticipates an operational profit increase of roughly 17 percent.


Due to component shortages caused by COVID-19 lockdowns in China and higher commodity prices as a result of Russia's invasion of Ukraine, the company stated last month that it did not anticipate a profit increase for this fiscal year.


(This item corrects the firm name in paragraph 1 to Panasonic Holdings Corp from Panasonic Corp, and the sales growth forecast in paragraph 4 to 19 percent from 10 percent, and the operating profit forecast to nearly 17 percent from 15 percent decline.)


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