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On April 15th, HarmonyOS announced that its spring new product launch event will be held on April 22nd, and pre-orders for its first MPV model, the Zhijie V9, will begin on the same day.Toyota and Isuzu have reached an agreement to jointly develop small fuel cell trucks.On April 15th, CLSA issued a report expecting Meitu (01357.HK) to maintain strong short-term financial momentum. Therefore, it raised its adjusted net profit forecasts for fiscal years 2026 and 2027 by 6% and 8%, respectively, to RMB 1.35 billion and RMB 1.68 billion, primarily driven by aggressive overseas expansion, which is expected to increase average revenue per user and the proportion of paying users. The target P/E ratio was lowered to 17x, in line with the industry average, to reflect market pessimism regarding concerns about the disruptive impact of large language models on downstream software business. The "Outperform" rating was maintained, but the target price was significantly reduced from HKD 14.1 to HKD 7.April 15th - International Data Corporation (IDC) reported that the global smartphone market experienced its first decline since 2023 in the first quarter of this year. Memory chip supply shortages and the ongoing conflict in Iran are likely to drive up costs and further limit growth. Researchers found that Apple and Samsung Electronics were the only top five brands to achieve growth, with shipments increasing by more than 3%, while the overall market declined by 4.1%. These two companies each accounted for approximately one-fifth of total shipments. IDC analysts, including Nabila Popal, stated, "We expect the first-quarter slowdown to be just a slight harbinger of whats to come in 2026. In some emerging markets, price increases of 40% to 50% are severely dampening demand."April 15th - Market research firm IDC reported that smartphone shipments declined in the first quarter, ending a ten-quarter streak of growth. Apple and Samsung were the only two of the top five brands to achieve growth. Memory chip shortages and the Iran-Iraq conflict led to increased costs for manufacturers, with Chinese brands being the most affected. IDC predicts the memory chip supply shortage will continue into the second half of 2027.

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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