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Real-time News
On November 20th, Wasif Latif, President and Chief Investment Officer of Sarmaya Partners, stated that the US September non-farm payroll data significantly exceeded expectations. The market is immediately adjusting accordingly and reassessing the Feds "rate cut tug-of-war." Currently, the "no rate cut" camp has the upper hand, but the battle is not over. There are still uncertainties between now and the Feds December interest rate decision, and this tug-of-war will continue as more data is released. The September data itself was acceptable, but the real key is the October data, as most layoff announcements occur in that month. If the October data is available, it is likely to show a weaker job market than in September, which would significantly push the market towards rate cut expectations. Unfortunately, we do not yet have this information, so we must judge based on the available data.On November 20th, 3SBio (01530.HK) announced in Hong Kong a proposed spin-off and separate listing of its subsidiary, Mandy Semiconductor, on the Main Board of the Hong Kong Stock Exchange. As the listing of Mandy Semiconductor is subject to, among other things, approvals from relevant authorities, the final decision of the Board of Directors and the Mandy Semiconductor Board, market conditions, and other considerations, the proposed spin-off may not materialize. Shareholders and other investors are advised to exercise caution when dealing in the Companys securities.According to Hong Kong Stock Exchange documents, Mandy International has submitted a listing application to the Hong Kong Stock Exchange.US President Trump cited reports criticizing Democratic lawmakers for calling on "US military personnel to refuse to carry out undefined and illegal orders."On November 20th, B. Riley Wealth analyst Art Hogan stated that the problem lies in the significant lag in the September US non-farm payroll report, with the next report not expected until after the December Fed interest rate decision. This puts the Fed in a decision-making dilemma and does not significantly increase the probability of rate cuts in any direction. The market rally was primarily driven by solid earnings reports from Nvidia and Walmart, thus the market reaction was more driven by corporate profits than economic data.
