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On February 2nd, Hengrui Medicine announced that in January 2026, the company repurchased 889,700 shares through the Shanghai Stock Exchange trading system via centralized bidding. The repurchased shares account for 0.013% of the companys total share capital. The highest purchase price was RMB 58.21 per share, and the lowest price was RMB 56.10 per share. The total amount paid was RMB 51,072,400 (excluding transaction fees).February 2nd - The China Electricity Council released data today showing that by 2025, Chinas newly installed power generation capacity will reach 550 million kilowatts, of which wind and solar power will account for 440 million kilowatts, representing 80.2% of the total new installed capacity. Statistics show that wind, solar, and biomass power generation currently accounts for 97.1% of the total new electricity consumption, becoming the main source of new electricity consumption. my countrys green electricity supply capacity continues to strengthen, and the pace of green and low-carbon transformation of energy and power is accelerating.February 2nd - Hong Kong stocks opened lower and continued to weaken throughout the day. At the close, the Hang Seng Index fell 2.23%, and the Hang Seng Tech Index fell 3.36%. Gold stocks continued their sharp decline, with Shandong Gold (01787.HK) falling over 12%; copper mining stocks weakened, with Jiangxi Copper (00358.HK) falling over 8%; chip stocks led the decline, with Hua Hong Semiconductor (01347.HK) falling over 11% and GigaDevice (03986.HK) falling over 9%; new energy vehicle stocks continued their correction, with XPeng Motors (09868.HK) and BYD (01211.HK) both falling over 6%; in addition, mainland property stocks, biopharmaceuticals, coal, commercial aerospace, telecommunications services, and oil-related stocks also saw significant declines. In terms of individual stocks, MINIMAX-WP (00100.HK) rose more than 10%, China Telecom (00728.HK) fell more than 5%, and CNOOC (00883.HK) fell more than 4%.Spains manufacturing PMI for January was 49.2, below the expected 49.3 and the previous reading of 49.6.On Monday, February 2, the Hang Seng Index closed down 611.54 points, or 2.23%, at 26,775.57; the Hang Seng Tech Index closed down 191.87 points, or 3.36%, at 5,526.31; the H-share Index closed down 236.9 points, or 2.54%, at 9,080.19; and the Red Chip Index closed down 123.33 points, or 2.82%, at 4,245.12.

Silver price analysis: XAG/USD declines from a 13-day-old resistance line below $21.00

Daniel Rogers

Mar 13, 2023 11:37

 截屏2022-07-29 上午11.05.40.png

 

Silver price (XAG/USD) maintains modest gains near $20.60 as it probes the metal's retreat from a key short-term resistance line on Monday morning. Despite this, the XAG/USD maintains its three-day winning trend and extends yesterday's recovery from the lowest levels since November 4, 2022.

 

Nonetheless, the impending bear cross on the MACD and the bullion's inability to remain above the 200-SMA, not to mention the failure to cross a two-week-old resistance line, give Silver price bears reason for optimism.

 

Consequently, the bullion remains on track to retest the two-week-old horizontal support zone close to $20.40. However, the metal's further decline may make it difficult to break the $20.00 psychological magnet.

 

The focus will then shift to the monthly low of $19.95 and the November 2022 low around $18.85.

 

On the contrary, recovery movements remain elusive unless the XAG/USD remains below the downward-sloping resistance line from late February, around $20.90 at the latest. The $21.00 round number also functions as an upside filter.

 

The previous week's high near $21.30 may serve as the last line of defense for the XAG/USD skeptics if Silver purchasers maintain control above $21.00.