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According to the Philippine Institute of Volcanology and Seismology, a 5.8-magnitude earthquake struck near Occidental Mindoro province in the Philippines at approximately 10:38 a.m. on August 7, with a focal depth of 10 kilometers.August 7th - TSMC has achieved a breakthrough in next-generation technology, successfully developing a high-performance monolayer molybdenum disulfide (MoS2) top-gate transistor in collaboration with a team from National Chiao Tung University, which could help push the limits of Moores Law. The findings were published in the journal *Nature Electronics*.On August 7th, it was learned from the Anhui Provincial Key Laboratory of Quantum Computing Chips that a joint research team from Origin Quantum and the University of Science and Technology of China has successfully solved the long-standing problem of the trade-off between speed and fidelity in superconducting quantum computing by proposing the innovative "Parameter Space Extended Controlled Phase Gate (PSE-CZ)" scheme. This allows a two-qubit quantum gate to significantly improve accuracy while maintaining high speed. The relevant results have been published in the top international physics journal *Physical Review Letters*, and experimental verification was completed on my countrys independently developed superconducting quantum computer, "Origin Wukong".Hong Kong-listed stocks related to large-scale modeling continued to rise, with MINIMAX-W (00100.HK) up nearly 25% and Zhipu (02513.HK) up over 17%.Chinas total imports in July amounted to 1,945.44 billion yuan, compared to 1,961.62 billion yuan in the previous month.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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