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Hong Kong-listed tech stocks retreated, with Tencent Music-SW (01698.HK) falling over 6%, Tencent Holdings (00700.HK) dropping over 5%, and BOSS Zhipin (02076.HK) and Bilibili (09626.HK) both falling over 4%. Alibaba (09988.HK), Kuaishou (01024.HK), Baidu (09888.HK), NetEase-S (09999.HK) and other stocks followed suit.Eden Software (01147.HK), a Hong Kong-listed company, surged over 49% after its subsidiary entered into a strategic partnership with Super Fusion to promote the integration of computing power with enterprise AI application scenarios.Weibo (09898.HK) shares fell nearly 9% after the earnings report. The companys revenue for Q4 2025 was US$473.3 million, compared to US$456.8 million in the same period last year; net income was US$1.76 billion, flat year-on-year.1. Reuters poll: The Bank of Japan is expected to keep interest rates unchanged, with 60% of economists surveyed expecting a rate hike to 1% by the end of June. 2. ANZ: The Bank of Japan is expected to keep interest rates unchanged but will release hawkish signals, expecting a 25 basis point rate hike to 1% in April. 3. DBS: The Bank of Japan is expected to keep interest rates unchanged, possibly preferring to wait for the outcome of wage negotiations this spring; June-July presents a more suitable window for a rate hike than April. 4. Capital Economics: The Bank of Japan is expected to keep interest rates unchanged, with rising wages supporting a rate hike, but the Iranian conflict is the biggest variable, potentially delaying the rate hike further. 5. Daiwa Securities: The Bank of Japan is expected to keep interest rates unchanged; whether it raises rates in April could be a crucial turning point in determining market confidence in its commitment to tightening policies. 6. Allianz Group: The Bank of Japan is expected to keep interest rates unchanged; Kazuo Ueda may maintain the possibility of an April rate hike, while adding data-dependent conditions to hedge against any external shocks. 7. Mitsubishi UFJ: The Bank of Japan is expected to keep interest rates unchanged, but may raise them in April. Geopolitical risks have become the new normal, and stabilizing the yens exchange rate is becoming increasingly important for Japan. 8. Sumitomo Mitsui: The Bank of Japan is expected to keep interest rates unchanged and will focus on how rising oil prices will push up costs for petrochemical products and other oil-based commodities, and how these costs will be transmitted domestically. 9. Moodys Analytics: The Bank of Japan is expected to keep interest rates unchanged and may raise them to 1% around mid-year. Further weakening of the yen could prompt the central bank to raise rates later this year. 10. Natixis: The Bank of Japan is expected to keep interest rates unchanged and maintain a hawkish stance to avoid disrupting spring wage negotiations, while maintaining a tightening bias to alleviate new imported inflationary pressures. Hong Kong-listed OpenClaw concept stocks retreated, with XunCe (03317.HK) falling over 6%, MINIMAX-W (00100.HK) falling over 5%, and Zhipu (02513.HK) falling over 4%. Other stocks such as Tencent Holdings (00700.HK), Alibaba (09988.HK), Kingsoft Cloud (03896.HK), NetEase-S (09999.HK), and Baidu (09888.HK) also declined.

Underpinned after US Job Growth Tops Expectations

Skylar Shaw

Jun 06, 2022 12:10

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A better-than-expected U.S. employment data hinted to a tight job market, which might encourage the Fed to maintain rate hikes.


June U.S. Dollar Index futures rose 0.328 percent to 102.160. Invesco DB US Dollar Index Bullish Fund ETF (UUP) rose 0.12 percent to $27.30.

Jobs Report Backs Fed's Hawkishness

The Labor Department stated Friday that nonfarm payrolls rose by 390,000 last month. Reuters economists predicted 325,000 new jobs in May. Unemployment was 3.6% and average hourly earnings were 0.3%.


The better-than-expected job gain implies the economy is still robust, but the drop in average hourly pay signals growth is beginning to decelerate.

Long-Side Specs Lighten

Despite expectations for higher rates, the market suggests this has already been priced into the dollar. Government data shows dealers unwinding dollar longs. Traders may still purchase the dollar as a safe-haven.


Speculators' net long bets on the U.S. Dollar plummeted to a 5-week low, Reuters and CFTC data show.


Net long dollar position was $14.71 billion on May 31. Last week, speculators net long $17.65.

Technical Analysis Daily Swing Chart

Daily swing chart shows a downtrend. A transaction over 102.750 will reverse the trend. Passing 101.420 will resume the downturn.


97.730-105.065 is the range. 101.395 to 100.530 is support.


99.810 to 105.065 The index is probing 102.440 to 101.815.


Short-term range: 105.065-101.420. If the trend turns to up, 103.245 might be tested.