EUR/USD
1.17859
0.002%
Gold
3658.99
0.401%
Oil
63.017
-0.430%
USD/JPY
147.267
-0.487%
GBP/USD
1.35559
0.023%
GBP/JPY
199.635
-0.455%
Real-time News
BNP Paribas: The Bank of England is expected to cut interest rates in December, rather than November as previously predicted.Japans REIT index erased gains and was now down 0.19%.On September 19th, Goldman Sachs Research reported that it expects Hong Kong Exchanges and Clearing Limited (HKEX) (00388.HK)s third-quarter investment income to be approximately half of its first-half level, reflecting the decline in HIBOR from May to August, external portfolio reductions, and revised interest rate sharing agreements for margin funding. Southbound trading is estimated to account for approximately 30% to 40% of the year-over-year growth in overall average daily trading volume (ADT). Therefore, southbound trading and overall ADT will determine short-term stock price trends. Consequently, Goldman Sachs forecasts ADT of approximately HK$260 billion from October to December 2025, and arrives at near-consensus EPS. Based on recent trading volume trends, Goldman Sachs has raised its cash ADT and EPS forecasts for 2025-2027 by 3% to 4%. Based on an unchanged 2026 P/E ratio of 40x, the company has raised its 12-month target price by 4%, from HK$524 to HK$544, equivalent to a projected P/E ratio of 40x for fiscal 2026. The company maintains a "Buy" rating.On September 19th, Hirofumi Suzuki, an analyst at Sumitomo Mitsui Banking Corporation, described the outcome as unexpected. While the market generally expected the Bank of Japan to simply maintain its policy unchanged, the launch of the ETF sales program and the dissenting votes of two members (in favor of a 25 basis point rate hike) gave the meeting a hawkish tone. The timeline suggests that even with the LDP leadership election on October 4th, the Bank of Japan is signaling a steady pace of policy normalization. Another rate hike is expected in October.The 2-year Japanese government bond yield rose 2 basis points to 0.9%.
