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WH Group (00288.HK) rose more than 6% to HK$8.36 during the session, with its share price hitting a record high and its market value exceeding HK$100 billion.The Hang Seng Tech Index rose more than 2%, and the Hang Seng Index rose 1.76%.On August 13, the Hefei Housing Provident Fund Management Center issued a notice extending the processing period for "commercial-to-public" loans. As of the end of July 2025, the individual loan ratio in the city (including the provincial branch) was 86.73%, and in the city center, it was 90.64%. Based on the acceptance of "commercial-to-public" loans and the current funding situation, the Center has decided that, starting August 20, 2025, individual commercial housing loans issued before December 31, 2021, can be converted into housing provident fund loans.Bilibili (09626.HK) saw its share price increase by 5%.On August 13, Zhu Fenglian, spokesperson for the Taiwan Affairs Office of the State Council, stated at a regular press conference that direct cross-strait air transport has greatly facilitated cross-strait people-to-people and economic exchanges, playing an important role in enhancing the common interests and well-being of compatriots on both sides of the strait. Since its maiden voyage in November 2011, the ro-ro passenger and cargo ship "Haixia" has transported nearly one million passengers and over 38,000 tons of cargo. The resumption of direct cargo flights by the "Haixia" has been warmly welcomed by people on both sides of the strait. It should be noted that due to obstruction and restrictions imposed by the Democratic Progressive Party (DPP) authorities, the long-awaited direct cross-strait passenger flights have yet to resume. There are no obstacles from the mainland to the resumption of normal cross-strait passenger shipping routes. The DPP authorities should fully consider the demands of the people on both sides of the strait and shipping companies, and fully resume direct cross-strait passenger shipping as soon as possible.

EUR/USD Struggles Below 1.0700 As US Data Fuel Hawkish Fed Predictions, Lagarde of the ECB Supports Higher Interest Rates

Daniel Rogers

Feb 16, 2023 14:51

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The EUR/USD pair approaches 1.0690 but struggles to prolong the recovery from late Wednesday to early Thursday. Notwithstanding, the major currency pair dropped the most in a week as US data bolstered Fed bets and pushed US Treasury bond yields and the US Dollar to multi-day highs. Christine Lagarde's recent hawkish comments on the European Central Bank (ECB) looked to have strengthened prices.

 

In spite of this, US 10-year Treasury bond yields surged to a fresh six-week high, and the US Dollar Index (DXY) also climbed to a 1.5-month high, as key US data suggested the Federal Reserve (Fed) may increase interest rates further.

 

As announced on Wednesday, January US Retail Sales growth increased to 3.0% from 1.8% expected and -1.0% earlier. In addition, Retail Sales excluding Automobiles grew by 2.3% during the same month, exceeding experts' projections of growth of 0.8%. Similarly, the New York Empire State Manufacturing Index for February increased to -5.8 from -18.0 and market forecasts of -32.9. Alternately, US Industrial Production reported 0.0% MoM figures for January, contrary to analysts' expectations of 0.5% and prior readings of -0.7%, but failed to quell hawkish attitude surrounding the Federal Reserve's (Fed) next move.

 

According to Reuters' FEDWATCH tool, market wagers on the Fed's next moves indicate that US central bank rates will peak around 5.25 percent in July, as opposed to the Federal Reserve's December prediction of 5.10 percent.

 

Lagarde of the ECB, on the other hand, stated that despite the fact that the majority of indicators of longer-term inflation expectations are currently hovering around 2%, these indices require constant monitoring. The policymaker stated, "Price pressures remain elevated, and underlying inflation is elevated," while signaling her intent to increase rates by 50 basis points at the March meeting.

 

Wall Street benchmarks concluded the trading day with small increases, but S&P 500 Futures are reluctant to follow suit.

 

In the near future, the ECB's monthly speech and several ECB speakers will complement the secondary US housing market, industrial activity, and producer pricing data to create an intriguing day.


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