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On January 12, in response to a statement from the US leader that China would strike Iran if it harmed protesters, Foreign Ministry Spokesperson Mao Ning stated at a regular press conference that China hopes the Iranian government and people can overcome current difficulties and maintain national stability. China consistently opposes interference in other countries internal affairs, consistently maintains that the sovereignty and security of all countries should be fully protected by international law, opposes the use of force or the threat of force in international relations, and calls on all parties to do more to promote peace and stability in the Middle East. Mao Ning said that China is closely monitoring the situation in Iran and has not yet received any reports of Chinese citizens being injured or killed in Iran. China will do its utmost to ensure the safety of Chinese citizens in Iran. Chinese citizens in Iran are advised to pay attention to the local security situation and take necessary measures to safeguard their own safety. If assistance is needed, they can contact the Chinese Embassy in Iran or call the consular protection hotline.The Hang Seng Tech Index continued its upward trend in the final minutes of trading, rising more than 3%, while the Hang Seng Index is currently up 1.34%.On January 12th, Jefferies Research reported that its preview of Bilibilis (09626.HK) Q4 2025 results is in line with the banks forecasts, with total revenue expected to remain unchanged at approximately 5% year-on-year, reaching RMB 8.1 billion. Jefferies maintains its "Buy" rating on Bilibilis (BILI.O) US-listed shares at US$34 and its Hong Kong-listed shares at HK$267. By business segment, the bank expects mobile game revenue to increase by 1% quarter-on-quarter but decrease by 15% year-on-year to RMB 1.52 billion (accounting for 20% of total revenue); online advertising revenue is expected to increase by 21% year-on-year to RMB 2.9 billion (accounting for 36% of total revenue), primarily driven by several growth factors, including daily active users, traffic, and revenue per thousand impressions (rMI). The report also noted the success of "Escape from Dwarkov" in the gaming sector, highlighting the companys strategy of focusing on leading positions in vertical categories, long-term product operation, and targeting the younger generation. According to the banks 2026 outlook report, artificial intelligence is predicted to be a key area, while the entertainment industry is favored due to its defensive nature.Iranian Foreign Minister: Internet services will be restored after coordination with security agencies.On January 12th, the Shanghai Futures Exchange (SHFE) reported the following data on energy and chemical warehouse receipts and changes: 1. Pulp futures warehouse receipts: 130,363 tons, an increase of 5,874 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 12,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 0 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 2,040 tons, an increase of 40 tons compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 0 tons, unchanged compared to the previous trading day. The previous trading day saw no change; 6. Petroleum asphalt futures warehouse receipts totaled 16,160 tons, an increase of 2,420 tons compared to the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts totaled 16,660 tons, unchanged compared to the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts totaled 3,464,000 barrels, unchanged compared to the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts totaled 22,760 tons, unchanged compared to the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts totaled 0 tons, unchanged compared to the previous trading day.

As Australian monthly inflation declines to 6.8%, the AUD/JPY exchange rate approaches 87.80

Alina Haynes

Mar 29, 2023 14:36

AUD:JPY.png 

 

After the Australian Bureau of Statistics reported a further decline in the Consumer Price Index (CPI) for the previous month, the AUD/JPY pair dropped significantly to near 87.80. (Feb). The economic data came in at 6.9%, which was lower than both the consensus estimate of 7.1% and the previous release of 7.4%.

 

Australian Retail Sales increased by 0.2% on Tuesday, which was below the consensus estimate of 0.4% and the previous release of 1.9%. A weaker-than-expected retail demand suggests that households are bearing the burden of higher inflation and are having difficulty compensating for the impact of inflated products with their present purchasing power.

 

The Reserve Bank of Australia (RBA) would be encouraged to maintain monetary policy at its April meeting as a result of the synergistic effect of declining Retail Sales and the Consumer Price Index. In March, RBA Governor Philip Lowe increased the Official Cash Rate (OCR) to 3.60 percent. Investors should be aware of this fact.

 

Every subsequent Friday, the China Bureau of Statistics will disseminate Manufacturing and Non-Manufacturing PMI data. Following the abolition of pandemic controls, the Chinese economy is promoting development through monetary measures, so market participants anticipate a respectable performance. Australia is China's largest trading partner, and China's accelerating economic activity will also benefit the Australian Dollar.

 

As the target for sustainable inflation has not yet been attained, the former governor of the Bank of Japan, Haruhiko Kuroda, remained extremely pessimistic about future monetary policy regarding the Japanese Yen. "It is premature to discuss a withdrawal from easy monetary policy," he continued. And "More time is required to consistently and sustainably reach the price target."

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