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On January 16, Nomura issued a report stating that it raised Haidilaos (06862.HK) target price by 7.9% from HK$15.1 to HK$16.3, and maintained a "buy" rating. Nomura pointed out that Haidilaos same-store sales pressure in the second half of fiscal year 2024 lies in the high base, and it has better profit margins under cost tailwinds. It is expected that Haidilaos net profit growth in the second half of fiscal year 2024 will be steady at 13% year-on-year. Revenue in the second half of the year increased by 2% year-on-year, benefiting from low single-digit year-on-year growth in same-store sales. On the positive side, Nomura expects Haidilaos average selling price (ASP) to improve by 1 percentage point year-on-year. At the same time, although Haidilao has accelerated the opening of new stores and opened 50 new stores in the second half of 2024, its store expansion rate is worse than expected. Nomura expects Haidilaos operating profit margin to improve year-on-year and on a half-year basis due to cost tailwinds and better operating efficiency.January 16, 2019 - The yen strengthened against G10 and Asian currencies in early trading as expectations of a Bank of Japan rate hike rose. "The Bank of Japan has signaled that it will raise rates at its January meeting," said Marcel Tilliente, head of Asia Pacific at Capital Economics. He noted that Japanese economic data released since the December meeting confirmed that the Bank of Japan is about to raise rates further. Given the Bank of Japans recent market communications, Capital Economics has brought forward its forecast for the Bank of Japans next 25 basis point rate hike from March to next weeks meeting.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Gasoline prices will continue to be lowered.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Consider expanding Japans disaster prevention budget.The Bank of Japan is said to believe there is a high possibility of a rate hike in January.

WTI fluctuates near $87.00 due to contradictory demand-supply data

Alina Haynes

Sep 13, 2022 10:54

 截屏2022-08-04 下午5.10.59_1024x576.png

 

After reclaiming the weekly high, the price of WTI crude oil remained stagnant at approximately $87.80, amidst mixed concerns regarding the supply and demand of black gold. In addition to the market's hesitance ahead of critical US inflation data and the weekly industry report on oil inventories, the commodity prices could be affected by the market's disposition.

 

In October, oil production in the Permian Region in Texas and New Mexico, the largest U.S. shale oil basin, is expected to increase by 66,000 barrels per day (bpd) to a record 5.413 million bpd, according to a study released by the U.S. Energy Information Administration (EIA) on Monday. During the past week, the United States stopped releasing more oil from its Strategic Petroleum Reserve (SPR), signaling a significant improvement in the supply situation. Energy Secretary Jennifer Granholm is quoted by Reuters as saying, "The Biden administration is assessing the need for more SPR releases after the present program concludes in October."

 

Reuters, citing statistics from the US Department of Energy (DOE), reports that emergency oil inventories in the United States plummeted to their lowest level since October 1984, falling 8.4 million barrels to 434.1 million barrels in the week ending September 9. In the same vein are the rumors concerning the European Union's oil embargo and the oil price cap imposed by Western leaders on Moscow's energy exports.

 

In addition to the probable increase in China's stimulus, uncertainty surrounding the US-Iran oil deal and the likely retribution of Russia after retreating from portions of Ukraine further support the oil's upward movement.

 

Notable is the correlation between the risk-on sentiment and the dollar's depreciation, which helps oil purchasers. In spite of this, the US Dollar Index (DXY) fell for a second straight day to levels not seen in two weeks, near 108.30 at the latest.

 

After the most recent softening in price pressure, the US CPI for August becomes key. The projections indicate that the headline number will decrease to -0.1% MoM from 0.0% previously, while the CPI excluding food and energy will likely remain steady at 0.3% MoM. Also significant will be the previous 3.645M Weekly Crude Oil Stock data from the American Petroleum Institute (API).

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