EUR/USD 1.17685
-0.115%
Gold 4854.42
1.329%
Oil 82.946
-7.452%
USD/JPY 158.556
-0.368%
GBP/USD 1.35187
-0.057%
GBP/JPY 214.355
-0.412%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 19th, it was reported that on April 18th, the largest urban redevelopment project in Shenzhen—the Hewan North Area Renovation Project (Nanhua Village Urban Redevelopment) in Futian District—was completed, with 2,763 households successfully relocating. The project, undertaken by China Construction Third Engineering Bureau South China Company, is a key livelihood project in Futian District and one of the first government-led urban redevelopment projects implemented under Shenzhens new urban redevelopment policy. The project covers a total land area of approximately 63,000 square meters and a total construction area of approximately 490,000 square meters, planned to include 13 high-rise residential buildings and one kindergarten. Nanhua Village, originally built in 1984, was a large-scale residential community built by the Shenzhen government in its early days. After years of development, the original living environment and supporting facilities could no longer meet the needs of modern residents.On April 19, Russian Deputy Foreign Minister Alexander Grushko stated that Moscow has repeatedly called on Ankara to urge Turkey to compel Kyiv to provide assurances that it will refrain from attacking the infrastructure of the TurkStream and Blue Stream gas pipelines.On April 19th, multiple sources disclosed that Esmail Qaani, commander of the Quds Force of Irans Islamic Revolutionary Guard Corps, visited Baghdad, the Iraqi capital, that day. This is Qaanis first overseas trip since Iran and the United States announced a temporary ceasefire earlier this month. Iraqi officials and sources said that Qaanis visit will involve discussions with various Iraqi parties on how to de-escalate the regional conflict and its impact on Iraq. Qaani will meet with Iraqi political leaders and leaders of armed factions to try to coordinate positions among pro-Iranian factions in Iraq and ensure that the security situation in Iraq and the entire region does not deteriorate further during this "sensitive period." Sources indicated that Qaanis visit may also involve efforts to resolve the political deadlock in Iraq caused by the nomination of a new prime minister.Hong Kong Financial Secretary Paul Chan Mo-po announced today (April 19) that the Office for Attracting Key Enterprises will announce a new batch (the sixth batch) of key enterprises tomorrow. The list includes several companies with market capitalizations exceeding HK$100 billion, covering cutting-edge fields such as life sciences and healthcare, low-altitude economy, artificial intelligence, new energy materials, cross-border financial infrastructure, and fintech. Chan noted that the Office has previously successfully attracted over 100 key enterprises, focusing on life sciences and healthcare, artificial intelligence and data science, fintech, advanced manufacturing and new energy technologies, and cultural and creative industries. These enterprises originate from various regions including Mainland China and Europe and the United States, fully demonstrating Hong Kongs superior business and innovation environment, as well as its attractiveness as a platform connecting Mainland China and the international community.On April 19th, under the unified coordination of the State Administration for Market Regulation, market supervision and public security departments of Shanxi and Sichuan provinces jointly cracked a major criminal network involved in the production and sale of trademark infringement and counterfeit liquor. The operation uncovered seven locations in Lüliang and Taiyuan cities, Shanxi Province, for the production, concealment, packaging, trademark printing, and mailing of illegal products, as well as one online live-streaming sales point. Nearly 20,000 cases of suspected counterfeit liquor, over 700,000 counterfeit packaging materials, 14 pieces of counterfeit manufacturing equipment, and 41 large storage tanks were seized. As of now, the amount involved has been determined to be 260 million yuan. The public security organs have summoned 22 people, taken coercive measures against 11, and transferred 2 for prosecution.

S&P 500 Pulls Back As Big Tech Stocks Retreat

Cory Russell

Oct 27, 2022 16:28



The post-market session saw Meta Stock test multi-year lows.


The major tech names caused the S&P 500 to lose momentum and fall towards the support at 3835 after reaching highs near the resistance at 3885.


Following poor earnings results that were announced yesterday after the market closed, Alphabet was down 9% and Microsoft was down 7%.


After falling short of analyst expectations and posting an extra $766 million charge on the purchase of two new U.S. presidential aircraft, Boeing saw its share price decline by 8%.


The poor results from the top technology giants outweighed the benefits of reduced Treasury rates and a weaker US currency. As traders gambled that the Fed may be obliged to be less hawkish, the yield on 10-year Treasuries tried to settle down below the 4.00% mark.


It should be emphasized that the Bank of Canada previously increased the rate by 50 basis points, against the 75 basis points predicted by analysts, after determining that aggressive rate rises were placing too much pressure on the economy. The world markets benefited somewhat from this action.


Energy equities including Hess, Halliburton, ConocoPhillips, and others were climbing on a robust recovery in the oil markets as top tech firms came under pressure.


Traders focused on the quarterly report from Meta during the post-market session. Meta announced profits of $1.64 per share and sales of $27.71 billion, exceeding analyst expectations for revenue but falling short of them for profitability. The business said that although average pricing per ad fell by 18%, ad impressions rose by 17% year over year. On an annualized basis, revenue dropped by 4%. The news was unpopular with traders, and Meta is down 12% in the after-market session. The outcomes of Meta might significantly depress market sentiment tomorrow.


Ford reported a loss of $0.21 per share and sales of $39.4 billion. The $2.7 billion non-cash impairment of Ford's investment in Argo AI, which was creating L4 advanced driver assistance systems, was what caused the loss. Supply problems and higher-than-expected supplier payments also had an influence on Ford's financial performance. In the session after the market close, the stock fell by nearly 1%.

Suggestion