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Daiwa Capital Markets: Raised Teslas (TSLA.O) target price from $300 to $420.The three major U.S. stock index futures continued to rise, with Nasdaq futures up 1%, S&P 500 futures up 0.8%, and Dow futures up 0.6%.On October 27, overnight Shibor was at 1.4420%, up 12.20 basis points; 7-day Shibor was at 1.5420%, up 12.80 basis points; 14-day Shibor was at 1.5980%, up 3.50 basis points; January Shibor was at 1.5570%, unchanged from the previous trading day; March Shibor was at 1.5950%, up 0.10 basis points.The Communications Authority (CA) of the Hong Kong Special Administrative Region (HKSAR) today (October 27) launched the Unmanned Aircraft System (UAS) (UAV) (UAV) Licence to support the development of the low-altitude economy. A CA spokesperson stated that under the UAV (Dedicated) Licence, licensees can be assigned dedicated spectrum in the 1430–1444 MHz band (1.4 GHz band) for the installation, maintenance, and operation of radiocommunication equipment used to operate UAVs. This provides an additional communication solution for drone activities, in addition to the current wireless local area network (WLAN) and fourth-generation or fifth-generation mobile communication networks for data transmission and operation. This further supports the safe and efficient operation of drones and fully supports the development of the low-altitude economy ecosystem through communication networks. Applications for the UAV (Dedicated) Licence are now open to participating institutions in the low-altitude economy "Regulatory Sandbox" pilot project.On October 27, Lyon published a report stating that the retail turnover of Li Ning (02331.HK)s sales points across the entire platform in the third quarter recorded a mid-single-digit decline year-on-year, with a slowdown in quarterly growth, failing to meet internal targets. By channel, online sales grew by a high single digit year-on-year, outperforming the offline channel, which recorded a high-single-digit decline. Inventory days climbed to 5 to 6 months, and discounts expanded by a low single digit compared to the same period last year. Since October, retail sales and discount pressures have continued to intensify. The bank said that although it maintains Li Nings 2025 fiscal year performance guidance, it believes that Li Ning will face challenges in recovering retail sales and maintaining a stable gross profit margin in the fourth quarter of 2025. Maintain a "hold" rating with a target price of HK$16.

Natural Gas Price News: XNG/USD prompts a three-day recovery near the monthly apex near $2.50 due to the strengthening of the US Dollar

Daniel Rogers

Apr 19, 2023 15:46

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During the early hours of Wednesday morning in Europe, the price of natural gas (XNG / USD) reverses course from its greatest levels in a month to post modest losses of approximately $2.51. As a result, the energy instrument breaks a three-day winning stretch amid negative sentiment and the most recent dollar recovery.

 

Recent news articles concerning the US House China Committee's discussion of the Taiwan invasion scenario and a likely delay on the US debt ceiling decision appear to have agitated the risk profile. Recent unfavorable US data and hawkish Fed forecasts may be on the same trajectory. It should be noted that a divided earnings season influences sentiment and the price of Natural Gas.

 

In addition, Bloomberg released news indicating China's involvement in the Russia-Ukraine conflict, which, along with US President Joe Biden's reluctance to negotiate the debt limit, weighed on sentiment.

 

The recent decline in the XNG/USD price appears to be the result of a combination of factors, including reports that the United Kingdom has sufficient natural gas supplies to last through the winter and concerns about the likelihood of milder weather in the West. The Financial Times (FT) may have reported similar information: "The EU is storing record amounts of natural gas after a milder-than-expected winter, bolstering hopes that the bloc can wean itself off imports from Russia." According to the industry group Gas Infrastructure Europe, the bloc's storage capacity reached 55.7% at the beginning of the month, the highest level for early April since at least 2011.

 

In spite of this, the US Dollar Index (DXY) reverses its previous recovery from a one-year low and gains offers to 101.80 at the latest.

 

The previous day, the dollar index versus six main currencies reversed course in response to declining yields. In spite of this, US 10-year and 2-year Treasury bond coupons declined for the first time in four days by the end of Tuesday, hovering around 3.59 and 4.29 percent at the time of publication.

 

As a result of these trades, S&P 500 Futures have retreated from their greatest levels since early February, which were recorded the day before, and are currently trading near 4,178. Notable is the fact that the US stock futures ended their two-day winning trend with the most recent inactivity.

 

The news surrounding China and the US Federal Reserve (Fed), as well as the Fed Beige Book, can occupy Natural Gas traders until Thursday's release of weekly inventory data from the US Energy Information Administration (EIA).

 

 


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