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March 18th - Recently, reports of HK$300 billion of Middle Eastern capital flowing into Hong Kong have been circulating widely in the market. After interviewing several Hong Kong banks, securities firms, financial institutions, and Middle Eastern market researchers, it was learned that since the outbreak of conflict in the Middle East, there has indeed been an increase in foreign capital inflows into the Hong Kong market, including some funds from the Middle East. However, the specific scale and true destination of these inflows are difficult to accurately quantify and verify. What is clear is that: on the one hand, the turmoil in the Middle East has led to a continued rise in global demand for safe-haven assets; on the other hand, Middle Eastern capital has been continuously investing in the Hong Kong and mainland capital markets over the past two years, making Hong Kong an important choice for global capital allocation, including Middle Eastern capital.On March 18th, Tencent executives responded to questions about rising storage chip prices, stating that the surge in demand for artificial intelligence has not only driven a rebound in demand for DRAM and high-bandwidth memory (HBM), but also a comprehensive recovery in demand for CPUs, solid-state drives (SSDs), and hard disk drives (HDDs). Orders now need to be placed months, quarters, or even years in advance. Suppliers are prioritizing their largest and most stable clients, such as Tencent Cloud. Smaller cloud vendors are now finding it difficult to secure stable supply chain support. The Tencent executives indicated that, under these circumstances, the industry may have no choice but to pass on increased costs to higher prices. In the past 24 hours, several Chinese cloud vendors have raised prices across multiple areas.The Ukrainian military has attacked an aircraft manufacturing plant in Russias Ulyanovsk region.Google: Threat intelligence group Google Tiger has identified threat actors who have deployed exploit chains against targets in Saudi Arabia, Turkey, Malaysia and Ukraine.Pakistan will suspend airstrikes against Afghanistan from March 19 to 24.

Asian Stocks Rise; China Plans to Relax COVID Measures; However, Concerns Remain

Aria Thomas

May 30, 2022 11:21

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China's relaxing of several COVID-19 restrictive measures and U.S. markets' greatest week since November 2020 before Monday's Memorial Day weekend sent Asia Pacific stocks higher on Monday morning.


The Nikkei 225 gained 2% by 10:24 p.m. ET (2:24 a.m. GMT), while the KOSPI gained 1.27 percent.


The S&P/ASX 200 increased 0.91 percent in Australia.


Hong Kong's Hang Seng Index rose 2.19 percent .


The Shanghai Composite rose 0.55 percent, while the Shenzhen Component rose 0.04 percent.


Both the S&P 500 and Nasdaq 100 contracts were higher, a possible indication that the rebound could continue. As institutional investors rebalance their portfolios in anticipation for the end of the month, the S&P 500 erased its May losses and ended a streak of seven straight weekly losses.


As the European Union (EU) failed to agree on a revised package of Russian sanctions in response to Russia's invasion of Ukraine on February 24, the dollar remained stable while the euro fluctuate. The U.S. holiday prevents the trading of cash Treasuries in Asia.


China recorded fewer cases of COVID-19 in both Beijing and Shanghai, encouraging the government to relax some restrictions in an effort to stimulate the economy.


After one of the worst starts to the year for global markets, the key question for investors is whether the bottom of the recent selloff is near. Investors have been buying the dip. Concerns continue, however, regarding stricter monetary policies from central banks, growing food inflation resulting from the conflict in Ukraine, and China's COVID-19 measures.


Bloomberg quoted Citigroup (NYSE:C) Australia head of investment experts Maheebeen Zaman as saying, "We are in the midst of a bear market rally."


Treasury yields are expected to peak in 2022, according to Zaman. "I believe the market will trade in a narrow range as investors try to determine how soon the next recession will arrive and how rapidly inflation will decline," he added.


As of Wednesday, the Fed will also begin reducing its $8.9 trillion balance sheet and will also print its Beige Book assessment on regional economic conditions. Presidents John Williams of the New York Fed and James Bullard of the St. Louis Fed will both speak at separate events on Wednesday, with President Loretta Mester of the Cleveland Fed discussing the economic outlook the next day.


Friday, the United States will release its May employment report, including non-farm payrolls. Tuesday will see the release of the Eurozone consumer price index, as well as China's manufacturing and non-manufacturing purchasing managers indexes.


Later in the day, EU leaders will convene in Brussels for a two-day extraordinary conference to discuss the war in Ukraine, defense, inflation, energy, and food security. The Food and Agriculture Organization of the United Nations will also release its monthly food price index on Friday, just as global supply concerns reach their peak.

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