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On January 16, the China Securities Regulatory Commission (CSRC) held its 2026 system-wide work conference. The conference emphasized upholding the principle of strengthening the capital markets domestic market presence and promoting deeper and higher levels of two-way opening up. It stressed expediting the implementation of optimized schemes for qualified foreign investors, expanding the scope of openness for specific futures products, and improving the convenience of cross-border investment and financing. The conference also called for improving regulations and systems for overseas listings, enhancing the standardization and transparency of filing management, strengthening regulatory and risk prevention capabilities in an open environment, and actively participating in international financial governance.On January 16, the China Securities Regulatory Commission (CSRC) held its 2026 system-wide work conference. The conference emphasized the need to continuously improve the standardized operation of listed companies, accelerate the promulgation of regulations governing listed companies, fully implement the newly revised corporate governance guidelines, strengthen constraints on the behavior of controlling shareholders and actual controllers, and improve institutional arrangements such as dividend repurchases, equity incentives, and employee stock ownership. It also stressed the importance of stimulating the vitality of the mergers and acquisitions market, improving the supervision of the entire restructuring chain, and taking multiple measures to promote the high-quality development of listed companies.On January 16th, Hoshine Silicon Industry Co., Ltd. announced that it and relevant responsible persons received an administrative regulatory measure decision letter from the Zhejiang Securities Regulatory Bureau. The company was ordered to rectify its actions due to its failure to fulfill review procedures and information disclosure obligations regarding related-party transactions, as well as its large-scale investment activities that also failed to comply with review procedures and information disclosure obligations. Chairman Luo Liguo, General Manager Luo Yedong, Chief Financial Officer Zhang Yacong, and Board Secretary Gao Junqiu received warning letters for violating information disclosure management regulations. The company and relevant responsible persons will actively rectify the situation, strengthen their study of laws and regulations, and strictly fulfill their information disclosure obligations.On January 16th, the China Securities Regulatory Commission (CSRC) held its 2026 system-wide work conference on January 15th. The conference emphasized further enforcing market discipline, resolutely cracking down on egregious illegal activities such as financial fraud, price manipulation, and insider trading, streamlining the administrative and criminal linkage mechanism, and promoting the implementation of more typical cases such as special representative litigation and advance compensation. It also urged industry institutions to focus on their core businesses, improve governance, and pursue differentiated development. Furthermore, it called for improving the regulatory system and mechanisms for private equity funds. Finally, it stressed strengthening technology-enabled regulation to enhance the ability to discover clues and improve regulatory penetration.On January 16th, it was reported that the China Securities Regulatory Commission (CSRC) held its 2026 system-wide work conference on January 15th. The conference emphasized enhancing the inclusiveness and adaptability of the multi-tiered equity market, launching and implementing reforms to the ChiNext board, continuously promoting the implementation of reforms to the STAR Market, improving the convenience and flexibility of refinancing, and promoting the integrated high-quality development of the Beijing Stock Exchange and the National Equities Exchange and Quotations (NEEQ). It also stressed promoting the quality improvement, structural adjustment, and expansion of the bond market, ensuring the smooth implementation of the commercial real estate REITs pilot program. Furthermore, it called for steadily advancing the quality development of the futures market and strengthening the linkage between futures and spot market supervision.

Forecast for Gold Price: XAU/USD consolidates above $2,000 as investors await initial US S&P PMI data

Daniel Rogers

Apr 21, 2023 13:52

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During the Asian session, the price of gold (XAU / USD) is oscillating above the psychological resistance of $2,000.00. After a gradual increase, the price of gold has leveled off near $2,005.00 as investors await the release of preliminary S&P PMI data for the United States.

 

S&P500 futures have added some gains during the Asian session following three consecutive declines. As a result of Elon Musk's price-cutting frenzy, Tesla's revenue projections were gloomy, which dampened market sentiment. Near 101.77, the US Dollar Index (DXY) has extended its correction. The USD Index has been consolidating in a range between 100.90 and 102.03 for the past several trading sessions. Therefore, a move that exceeds the previously specified limit will be considered decisive.

 

The subdued USD index weighs on US Treasury yields as well. The demand for U.S. government bonds has increased as weekly unemployment claims have increased. The number of individuals claiming unemployment benefits rose to 245K, exceeding the consensus estimate of 240K. This indicated a softening in the labor market and bolstered expectations that the Federal Reserve (Fed) will not raise interest rates after the monetary policy meeting in May.

 

In the future, the publication of the preliminary US S&P PMI data will determine the impact of the Fed's rate hikes on the scope of economic activity. According to projections, the Manufacturing PMI and Services PMI will decline to 49.0 and 51.5, respectively. A preliminary PMI reading that is weaker than anticipated could impact heavily on the U.S. dollar.