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Hong Kong-listed pharmaceutical company Jieankang-B (02617.HK) saw a significant pullback today, falling more than 10% intraday, after surging nearly 40% yesterday.June 30th - It was learned today that, to further promote the inheritance and innovative development of traditional Chinese medicine (TCM), four national standards in the field of TCM, proposed and managed by the State Administration of Traditional Chinese Medicine and approved by the State Administration for Market Regulation (National Standardization Administration), namely, *Basic Theory and Terminology of Traditional Chinese Medicine*, *Diagnostic Vocabulary of Traditional Chinese Medicine Part 1: Tongue Appearance*, *Diagnostic Vocabulary of Traditional Chinese Medicine Part 2: Pulse Appearance*, and *Quality Control Standards for Clinical Research in Traditional Chinese Medicine*, will be implemented from July 1st. The *Quality Control Standards for Clinical Research in Traditional Chinese Medicine* is the first national standard in the field of TCM clinical research, establishing four main contents around the entire clinical research process. The four standards released this time each have their own focus, concentrating on three key areas: basic theory, diagnostic vocabulary, and clinical research. They take into account both the inheritance of traditional connotations and the needs of modern application, addressing long-standing industry problems such as inconsistent TCM terminology and an imperfect quality control system for clinical research, and are conducive to improving the standardization, scientification, and internationalization of the TCM industry.On June 30th, Maybank analysts pointed out that the yens break above the 162 level against the US dollar has triggered intervention risks, as this level is considered a critical threshold for potential official action. In their report, they wrote that it is currently unclear whether intervention is imminent or underway, but officials have consistently issued warning statements. Maybank is closely monitoring the potential for sharp exchange rate fluctuations accompanying intervention, noting that Japan has ample "ammunition" in the form of deposits and securities, far exceeding the scale of the previous intervention which cost approximately US$74 billion. "Currently, we are watching whether the currency pair can hold the 162.00 level in the short term; if it breaks through, the next resistance level is at 164.00." Maybank set support levels at 158.00 and 155.00.Local media reported that a fire broke out at the Hardia oil refinery in India, the cause of which is still unknown.On June 30th, Cainiao officially launched its "Customized End-to-End Logistics Solution for Technology Going Global," providing end-to-end, customized logistics services for the global expansion of technology companies in areas such as AI computing power, intelligent manufacturing, and robotics. It is understood that Cainiao has identified AI computing power, intelligent manufacturing, high-end equipment, and robotics as key service areas for its cross-border logistics, and will continue to expand its dedicated logistics product portfolio for technology going global.

Ahead of preliminary US S&P PMI data, the XAU/USD remains sideways below $2,000, according to our Gold Price Forecast

Alina Haynes

Apr 20, 2023 13:49

 截屏2022-08-04 下午5.25.46_1024x576.png

 

In the early European session, the Gold price (XAU / USD) is exhibiting erratic movements near $1,994.00. The precious metal is in a state of indecision as investors await the release of preliminary S&P PMI data for the United States on Friday.

 

After violent swings influenced by the Federal Reserve's (Fed) Beige Book, the US Dollar Index (DXY) is showing signs of volatility contraction below 102.00. The declining trend of advances to consumer and business loans by U.S. commercial banks has intensified concerns of a recession in the U.S. economy, despite the fact that economic activity in 12 Fed districts remained virtually unchanged. To prevent a decline in asset quality, banks have tightened credit disbursement requirements.

 

In the meantime, S&P futures have recorded sizeable losses during the Asian session, as investors are wary of firms' comments regarding revenue guidance. The market anticipates that constrained credit conditions will impact the working capital management of cash-reliant companies, thereby affecting their output.

 

The market expects preliminary US S&P PMI data to reveal a Manufacturing PMI reading of 49.0, a decrease from the previous reading of 49.9. The Services PMI is anticipated to decrease to 51.5 from 52.6 previously reported.


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