• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On September 8th, at the launch ceremony of the 6th "Haiju Yingcai" Global Innovation and Entrepreneurship Competition AI4S Special Competition, Yuan Guohua, Secretary of the Party Committee and Chairman of Shanghai Guotou Company, stated that Shanghai Guotou Company has a multi-dimensional layout for AI4S. At the computing power foundation level, it has strategically invested in a number of ultra-intelligent integrated hard technology companies, and is conducting long-term investments in heterogeneous computing full-stack GPU companies to support the creation of an integrated AI4S development platform. At the industrial investment level, it has constructed a multi-level AI investment matrix. The Shanghai Artificial Intelligence Fund of Funds, with a total scale of 22.5 billion yuan, covers the entire stack, while special funds such as the Shanghai Large Model Fund and the Embodied Intelligence Fund are anchored to specific sub-sectors, forming a gradient layout of "top-level ecosystem guidance + vertical track cultivation." At the ecosystem cultivation level, it has built a full-chain science and technology innovation service system encompassing "competition incubation—technology verification—industrial implementation," linking innovation ecosystem resources such as "major universities, research institutes, large enterprises, leading figures, and competitions," and connecting the entire chain of original innovation from "0 to 1," achievement transformation from "1 to 10," and industrialization empowerment services from "10 to 100."On September 8th, global mining giant Rio Tinto issued a statement saying it had agreed to acquire the Aurukun bauxite project in northeastern Australia from Glencore and Mitsubishi Development. A Rio Tinto spokesperson stated, "The acquisition price was not disclosed and is subject to approval from the Queensland government and other Australian regulatory bodies." The statement noted that Aurukun currently holds a mineral development license, but a mining lease has not yet been approved. The project is located near Rio Tintos bauxite mine west of Cape York.The SC crude oil futures contract rose by 2.00% intraday, currently trading at 702.30 yuan/barrel; the PTA futures contract rose by more than 2.00% intraday, currently trading at 6042.00 yuan/ton.Hong Kong-listed application software stocks fell sharply during the session, with Tuya Smart (02391.HK) dropping more than 9.5%, MiniMax (00100.HK) and Weimob Group (02013.HK) both falling by nearly 7%, Zhipu (02513.HK) dropping by nearly 6.5%, Qunhe Technology (00068.HK) falling by nearly 4%, and Kingdee International (00268.HK) falling by more than 2%.September 8th - According to data from the General Administration of Customs, Chinas integrated circuit exports reached US$40.731 billion in August, a year-on-year increase of 129.8%; automobile exports reached US$18.33 billion, a year-on-year increase of 43%; rare earth exports reached US$73.5466 million, a year-on-year increase of 33.7%; and mobile phone exports reached US$8.798 billion, a year-on-year increase of 29.6%.

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

Daniel Rogers

Jan 09, 2023 11:55

244.png 

 

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.