Real-time News

HSBC raised its target price for Eli Lilly (LLY.N) from $850 to $1070.

HSBC raises its target price for Johnson & Johnson (JNJ.N) from $215 to $240.

HSBC raises its target price for Pfizer (PFE.N) from $28 to $29.

Polish central bank official Litwinyuk: There is very little room for interest rate cuts.

According to Interfax news agency, Russian Security Council Secretary Sergei Shoigu stated that Russia is awaiting a response from the United States regarding the New START Treaty.

Iraqi Oil Minister: To date, 13 million barrels of oil have been exported from the Kurdistan region through the Iraq-Turkish oil pipeline.

Japanese long-term government bond yields rose, with the 30-year yield increasing by 1.5 basis points to 3.395% and the 40-year yield increasing by 3 basis points to 3.720%.

Spokesperson for the South African Trade Minister: We continue to lobby for an extension of the U.S. trade initiative, the African Growth and Opportunity Act (AGOA), in its current form.

On December 10th, Kim Jong-hwa, a member of the Bank of Korea's Monetary Policy Committee, stated on Wednesday that the foreign exchange control agency needs to take action to curb the depreciation of the won against the US dollar, as this could reignite inflationary pressures and weaken retail purchasing power. Kim said, "As the foreign exchange control agency, we cannot stand idly by and do nothing about the high exchange rate; we need to consider measures from a supply and demand perspective." Kim is one of the seven voting members of the Bank of Korea's Monetary Policy Committee. He added, "With the appreciation of the exchange rate, exporters with insufficient currency hedging capabilities or small and medium-sized enterprises (SMEs) unable to pass on increased intermediate product costs to consumers will face difficulties. A rising exchange rate will also lead to increased inflation and decreased purchasing power."

On December 10th, Nintendo's Japanese stock price fell as much as 4.7%, hitting its lowest level since May, due to market concerns that soaring prices of components such as memory chips could erode its profits. The rapid increase in memory costs could squeeze the profit margins of the new Switch 2 game console, and rising accessory costs could dampen market demand. According to market research firm TrendForce, the price of the 12GB RAM (Random Access Memory) module used in the Switch 2 rose by 41% this quarter. The price of NAND flash memory in the new console also rose by nearly 8%, which also affected the cost of additional memory cards. Affected by the escalating memory supply crisis, investor optimism about the Switch 2 has weakened, and Nintendo's stock price fell in seven out of eight trading days in December, wiping out approximately $14 billion in market capitalization.

According to Yonhap News Agency, South Korean President Lee Jae-myung stated that developing the industrial economy is crucial, and the semiconductor industry is precisely where South Korea has a competitive advantage. The government will do its utmost to promote the development of the semiconductor industry.

TSMC: Cumulative sales of NT$3.47 trillion from January to November, up 32.8% year-on-year.

"22 Vanke 06" fell nearly 11%, after rising as much as 28% earlier.

December 10th - According to the Financial Times, four sources familiar with the matter revealed that Germany is prepared to fully support a German candidate to succeed Christine Lagarde as president of the European Central Bank (ECB), although the country is aware that its chances of securing this unprecedented position are slim. Bundesbank President Jean-Claude Nagel and ECB Executive Board member Martin Schnabel have both indicated their willingness to succeed Lagarde, whose term expires in 2027. Since the establishment of Europe's highest monetary institution in 1998, there has never been a German passport holder as ECB president. Any potential successor would require strong support from their own government. Some sources said that Nagel has been lobbying Berlin for months to provide political support for his ECB nomination. According to two of the sources, Nagel has also emphasized that under his leadership, the Bundesbank has abandoned a hawkish monetary policy stance that historically sometimes isolated Germany from most other Eurozone members. This would make it possible for the Eurozone's largest economy to secure the position for the first time.

Vanke's A-shares and H-shares both rose in the afternoon, with Vanke A shares up 2.5% and Vanke Enterprise (02202.HK) up 3.6%.

According to the Financial Times, Germany acknowledges the high hurdles of the race for the European Central Bank presidency but remains determined to "actively participate" in the competition for this EU position, which no German has ever held before.