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Real-time News
On June 16th, Bank of Japan Deputy Governor Shinichi Uchida will replace the hospitalized Governor Kazuo Ueda, responsible for explaining the Bank of Japans latest decisions and future policy direction. Investors will closely watch Uchidas remarks to gauge his views on the future path of interest rate hikes and the Bank of Japans bond-buying policy. He faces a delicate task: to project a sufficiently hawkish stance to prevent a sharp depreciation of the yen, while simultaneously considering Prime Minister Sanae Takaichis inclination towards pro-economic monetary policies. Some economists believe that if Uchida deviates from Uedas position, it could shake the entire situation. Others say that Uchidas style is more direct, differing from Uedas subtle and unbiased communication style. According to the chief economist at Daiwa Institute of Economics, Uchida is likely to draw on his experience in policy implementation to provide a very thoughtful explanation to help market participants better understand the Bank of Japans thinking, particularly regarding the normalization process.June 16th - In SpaceXs $86.2 billion IPO, every customer of some of the largest retail brokerage firms in the US received at least one share, highlighting the initial design of the offering to allow retail investors to play a significant role. According to representatives of the companies, all eligible customers received a portion of the stock allocation after submitting stock subscription requests to platforms such as Robinhood, Charles Schwab, and Fidelity. It was reported that SpaceX ultimately allocated approximately 20% of its initial public offering proceeds to global retail investors. Sources indicated that due to demand exceeding $100 billion, many investors hoping for higher allocations were unsuccessful. On its second day of trading, SpaceXs stock price had already surged over 40%, reaching a market capitalization of $2.5 trillion.On June 16, Minmetals Resources (01208.HK) announced on the Hong Kong Stock Exchange that it had entered into a placing agreement with the placing agent, pursuant to which the Company agreed to issue and allot placing shares, which will be allotted and issued pursuant to the general mandate. The placing price is HK$8.88. Assuming all placing shares are fully placed, the total proceeds from the placing are expected to be approximately HK$6,268 million, and the net proceeds from the placing (after deducting commissions and other estimated expenses) are expected to be approximately HK$6,253 million. On this basis, the net price per placing share is approximately HK$8.86. The Company intends to use the proceeds from the placing to refinance existing loans, support the development and expansion plans of existing projects, fund strategic acquisitions and investments, and supplement working capital and for general corporate purposes.On June 16th, according to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed higher on Monday, with the benchmark contract rising 0.2%, reversing earlier losses. This was mainly due to excessive rainfall in some soybean-producing areas, leading to technical buying. US government officials stated that US President Trump, Vice President Vance, and the Iranian parliament speaker and head of the negotiating team have formally signed a memorandum of understanding aimed at ending the more than three-month-long war. This caused international crude oil futures to fall sharply by about 5%, putting downward pressure on agricultural commodity markets, including soybeans. During the session, the July contract fell to a four-month low, and the November contract fell to a three-month low. However, recent excessive rainfall in parts of the Midwest has raised market concerns and helped the soybean market rebound. Reports indicate that rainfall in some parts of the US last week reached 161% of normal levels. The National Oilseed Processors Association (NOPA) reported that soybean crushings in May totaled 208.79 million bushels, a 1.4% decrease month-over-month and below the market average expectation of 216.02 million bushels, but an 8.3% increase compared to the same period last year.On June 16th, according to foreign media reports, most soybean oil futures contracts on the Chicago Board of Trade (CBOT) closed lower on Monday, with the benchmark December contract down 0.5%, following the decline in the crude oil market. The most actively traded December contract ranged between 67.82 cents and 69.38 cents. US crude oil futures fell 5% due to the preliminary peace agreement reached between the US and Iran, putting downward pressure on Chicago soybean oil futures prices. In early trading, the July contract briefly fell to a seven-week low, and the December contract also fell to its lowest level in a month and a half. Soybean oil is a major raw material for biofuel production. However, positive US soybean oil inventory data limited the downside potential of the soybean oil market. The National Oilseed Processors Association (NOPA) reported that as of the end of May, soybean oil inventories were 1.74 billion pounds, lower than the market expectation of 1.86 billion pounds and a five-month low.
