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On August 25th, WuXi Biologics (02269.HK) announced that its revenue for the first half of 2026 was RMB 11.787 billion, an increase of 18.4% year-on-year; net profit was RMB 2.916 billion, an increase of 5.8% year-on-year; and net profit attributable to owners of the company was RMB 2.44 billion, an increase of 4.3% year-on-year. During the period, 169 new integrated projects were added, bringing the total number of integrated projects to 1064. The Board of Directors decided not to pay an interim dividend.On August 25th, it was reported that Indian AI infrastructure company AM Intelligence has ordered 9,000 NVIDIA (NVDA.O) Vera Rubin systems, hoping to become one of the first companies in Asia to adopt this advanced computing platform. AM Intelligence, headquartered in Hyderabad, India, stated in a statement on Tuesday that servers equipped with these rack-mounted systems are planned to be operational in southern India next year. The company stated that its clients include large cloud service providers, AI labs, and institutions looking to develop indigenous Indian AI models.According to Israeli media: Israeli Defense Minister Katz also visited Syria this morning.Russian Foreign Minister Sergey Lavrov: The world needs diplomacy more than ever before.On August 25, the U.S. State Department prepared to return diplomats to embassies in the Middle East that were evacuated before and during the war with Iran, indicating that the Trump administration does not expect a renewed full-scale hostilities. According to an internal State Department document obtained by The New York Times, U.S. diplomatic missions in the Middle East may begin returning diplomats as early as this week, gradually reducing previously implemented emergency measures. Three U.S. officials also confirmed the adjustments. The document shows that embassies planned to be reinstated with higher staffing levels include those in Israel, Lebanon, Saudi Arabia, Qatar, Jordan, Oman, Iraq, and Kuwait. Current and former State Department officials said the redeployment of diplomats signifies a de-escalation of tensions, although negotiations between the U.S. and Iran regarding extending the 60-day ceasefire agreement that expired last week have stalled. Dan Shapiro, who served as U.S. ambassador to Israel under the Obama administration and as Defense Department official in charge of Middle East affairs under the Biden administration, said, "Reinstating some of the withdrawn diplomatic missions indicates that the administration believes the war is nearing its end."

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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