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Xtep International (01368.HK): Xtep main brand retail sales growth (including online and offline channels) in the fourth quarter of 2025 was flat year-on-year; Xtep main brand retail sales growth (including online and offline channels) in 2025 was low single digits year-on-year.On January 23, Hong Kong stocks opened higher but then fluctuated downwards. The Hang Seng Tech Index initially rose by over 1%, but closed up 0.32% at 26,715.73 points; the Tech Index closed up 0.12% at 5,769.23 points. On the sector front, commercial aerospace stocks were active, while photovoltaic and gold stocks rose strongly, and new consumption concepts rebounded; passenger airline stocks fell, and building materials stocks retreated. In terms of individual stocks, Junda Shares (02865.HK) surged over 29%, Goldwind Technology (02208.HK) rose nearly 9%, GigaDevice (03986.HK), Laopu Gold (06181.HK), and Chifeng Gold (06693.HK) all rose over 7%, Pop Mart (09992.HK) gained 6.5%, Ganfeng Lithium (01772.HK) and Nanjing Panda Electronics (00553.HK) climbed 5%, and Alibaba (09988.HK) climbed 2.6%; MicroPort Robotics (02252.HK) fell 4.6%, and Hua Hong Semiconductor (01347.HK), CNOOC (00883.HK), and PetroChina (00857.HK) dropped 2%.On January 23, Capital Economics reported that the Bank of Japans more optimistic stance on the economic outlook has led it to believe that a rate hike may come sooner than previously expected. At its first policy meeting in 2026, the Bank of Japan kept interest rates unchanged while raising its GDP growth forecasts for the current and next fiscal years. Marcel Thieliant of Capital Economics noted that despite the governments announcement of energy subsidies last November, the Bank of Japan did not lower its inflation forecast, leading him to believe that underlying inflation will no longer remain subdued but will instead rise moderately. With the real policy rate still deeply negative, further tightening is almost a certainty. Even with the possibility of future consumption tax cuts that could distort prices, Capital Economics believes inflationary pressures will remain robust. The firm previously predicted a July rate hike by the Bank of Japan, but now the risks seem to favor an earlier move. Regardless, the firm expects the policy rate to rise to 1.75% by the end of 2027.On January 23, Yiyitong received research from multiple institutions including Guotai Haitong, Great Wall Securities, and First Capital Securities on January 21. In response to questions about its chip and storage layout, the company stated that its subsidiary, Xingyi, was among the earliest storage companies in China. With the advancement of AI technology, user data is increasing, and the demand for storage will also grow. In the future, the company will provide more resources to focus on this track, while also considering investing in and acquiring related companies.Fitch Ratings upgrades Vietnams long-term senior secured debt rating to BBB-.

Oil Quiet As Price Cap Suggestion Assists in Relieving Supply Concerns

Skylar Williams

Nov 25, 2022 14:48

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Benchmark Brent oil declined on Thursday, while West Texas Intermediate (WTI) crude remained unchanged, hovering at two-month lows due to uncertainty about the degree to which a proposed G7 restriction on the price of Russian oil would limit supply.


A larger-than-anticipated rise in gasoline inventories in the United States and an expansion of COVID-19 limitations in China also knocked on oil prices.


At 15.15 p.m. ET (2015 GMT), Brent oil prices decreased 29 cents, or 0.3%, to $85.12 per barrel, while U.S. WTI crude futures decreased 2 cents, to $77.96 per barrel.


Due to the Thanksgiving break in the United States, trade volumes were quite low.


The announcement on Wednesday that the expected price ceiling for Russian oil may surpass the current market level triggered a decrease of about 3 percent for both benchmarks.


European Union nations remained divided over what level to cap Russian oil prices to limit Moscow's ability to pay for its battle in Ukraine without causing a global oil supply shock; if positions converge on Friday, more conversations are possible.


A European official claimed that the G7 is discussing a cap of $65-$70 per barrel for Russian oil transported by sea, but European Union member states have not yet reached an agreement on a price.


A higher price ceiling might encourage Russia to continue selling its oil, decreasing the possibility of a global oil supply shortage.


According to two sources, several Indian refiners are discounting Russian Urals crude by between $25 and $35 per barrel compared to the worldwide benchmark Brent oil. Urals is Russia's principal crude export.


Despite the obstacles, Bart Melek, global head of commodities market strategy at TD Securities, is rather optimistic about oil. "The Russian price ceiling is another aspect that contributed to the current price fall," he stated.


The Energy Information Administration (EIA) said on Wednesday that gasoline and distillate inventories in the United States climbed substantially during the previous week. [EIA/S]


In contrast, oil stockpiles decreased by 3.7 million barrels to 431.7 million barrels in the week ending November 18, despite a Reuters survey predicting a reduction of 1.1 million barrels.


China reported the highest daily number of COVID-19 cases since the outbreak began over three years ago on Wednesday. Local officials intensified measures to remove the breakouts, raising investor anxiety over the economy and demand for fuel.

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