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Israel Statistics Authority: Industrial output fell 6.2% month-on-month in May (seasonally adjusted), compared to a 29.9% increase in April.According to Japans Kyodo News, Japanese Prime Minister Sanae Takaichis cabinet approval rating has dropped to 53.7%, the lowest point since the cabinet was formed.On July 26, Saudi Aramco shares fell as much as 1.0% in early trading, dropping to 26.56 riyals. This decline followed attacks by Houthi rebels in Yemen on two Aramco oil facilities in the Saudi cities of Jizan and Yanbu, raising concerns about potential disruptions to the state-owned oil giants operations and infrastructure. However, including todays decline, the stock is still up approximately 11.8% year-to-date. According to data from the London Stock Exchange Group (LSEG), of the 17 brokerages covering the stock, 10 have a "buy" rating or higher, and 7 have a "hold" rating. The median target price is 30.80 riyals, implying an upside of approximately 16% from the intraday low.The African Development Banks climate chief said African countries need up to $50 billion in additional climate financing this year to help combat climate change.On July 26th, JiKr released a statement regarding overseas self-driving car infotainment system prompts and subsequent optimizations, adjusting its security strategy for outbound vehicles. JiKr stated that the "Cross-border Protection" function was officially launched on the JiKr App in the early hours of July 26th. Car owners can quickly obtain verification codes and unlock their vehicles with a single click, simplifying the process and improving response efficiency. Additionally, a "Cross-border Protection function switch" is under development and will be pushed out via OTA. Once the switch is launched, "Cross-border Protection" will be off by default. Before departure, car owners can manually turn it on or off on their mobile devices according to their needs. JiKr emphasized that if car owners actively enable this function, the vehicle infotainment system will display a prompt and some functions will be restricted after leaving the country. At that time, car owners can still unlock their vehicles themselves through the "Cross-border Protection" entry in the App, achieving a balance between "anti-theft protection" and "free passage."

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Jumps on China PMI

Steven Zhao

Mar 01, 2023 15:37


Market Overview

It was a bullish Wednesday morning session for the Asian markets, with the Hang Seng Index leading the way. The Asian markets brushed aside bearish sessions for the Dow and the NASDAQ Composite Index. US economic indicators disappointed on Tuesday, with consumer confidence weakening for a second consecutive month and house price growth slowing.


The CB Consumer Confidence Index fell from 106.0 to 102.9 in February, with the S&P/CS HPI Composite n.s.a rising by 4.6% year-over-year in December. House prices were up 6.8% in November. Elevated US mortgage rates continue to impact buyer demand, with US mortgage rates bouncing back after a brief retreat.


On Tuesday, the NASDAQ Composite Index fell by 0.10%, with the Dow Jones and S&P 500 seeing losses of 0.71% and 0.30%, respectively. This morning, the US Futures reversed early losses. The Dow mini was up 16 points, with the NASDAQ mini flat.


Private sector PMI numbers from China delivered support to riskier assets this morning. After a China data void, today’s stats provided investors with much-needed relief. The all-important Caixin Manufacturing PMI increased from 49.2 to 51.6 in February. Economists forecast a PMI of 50.2. Significantly, the manufacturing sector expanded for the first time since July 2022.

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