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On January 27th, UOB Kay Hian issued a research report stating that China Merchants Bank (03968.HK) is expected to see a 1.2% year-on-year increase in net profit to RMB 150.2 billion in 2025, exceeding both the banks and market forecasts. This is mainly due to improved net interest income and a continued narrowing of the year-on-year decline in non-net interest income. China Merchants Bank expects its revenue to remain stable year-on-year last year; ROE is expected to fall by 105 basis points to 13.4%. The report mentions that China Merchants Banks provision coverage ratio has plummeted to below 400%, possibly due to stricter bad debt recognition standards and accelerated disposal of non-performing assets. Despite this, China Merchants Banks provision coverage ratio remains above its peers. The bank maintains its "Hold" rating on China Merchants Bank but lowers its target price from HKD 52 to HKD 49 to reflect the latest earnings revisions and lower long-term ROE forecasts. The bank raised its 2025 earnings forecast for China Merchants Bank by 1%, but lowered its 2026 and 2027 forecasts by 2.9% and 1.1%, respectively.Samsung Electronics shares rose 3%.January 27 - Today, senior executives of CITIC Group spoke at the Asian Financial Forum, stating that the group will actively participate in the construction of the entire industry chain of the Hong Kong gold market.Singapores Deputy Prime Minister: Micron Technology (MU.O) plans to invest US$24 billion in its NAND chip factory in Singapore.January 27th - The 51st House of Representatives election in Japan was announced on the 27th, with voting and vote counting scheduled for February 8th, officially kicking off the 12-day election campaign. This election will contest 465 seats, including 289 single-member constituencies and 176 proportional representation seats. NHK reported that as of the 26th, over 1,200 people had expressed their intention to run.

DOGE Aims for $0.070 as Fed Fear Fades, as SHIB Advances

Daniel Rogers

Oct 27, 2022 15:25

截屏2022-10-27 下午3.14.38.png

 

Following a breakout session on Tuesday, DOGE and SHIB are rising this morning. Adoption and the acquisition of Twitter remain tailwinds. On Tuesday, dogecoin (DOGE) gained 6.04 percent. DOGE concluded the day at $0.06306, reversing a drop of 1.53% from Monday. Notably, this is the first time since October 6 that DOGE has reached $0.064 per coin.

 

Due to a mixed start to the day, DOGE dropped to a low of $0.05916. DOGE rocketed to a late-afternoon high of $0.06430 despite avoiding the First Major Support Level (S1) at $0.0585. DOGE surpassed the Major Resistance Levels before sliding through the Third Major Resistance Level (R3) at $0.0642 and closing the day below $0.0540.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads as low as 0 pips and a commission rate of $3.50 per 100,000 USD traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Tuesday, Shiba inu coin (SHIB) appreciated by 2.82%. SHIB concluded the day at $0.00001021 after reversing a Monday loss of 2.36% Notably, SHIB reached the level of $0.00001040 for the first time since October 18.

 

After a volatile morning, SHIB dropped to a low of $0.00000982 by midday. SHIB rebounded to a late-afternoon high despite avoiding the First Major Support Level (S1) at $0.00000979. SHIB surpassed the First Major Resistance Level (R1) and the Second Major Resistance Level (R2) at $0.00001014 and $0.00001034, respectively. However, a negative session close caused SHIB to plummet below R2 and close the day at $0.00001021 per share.

 

There were no network changes to affect, leaving the pair subject to the crypto market as a whole. The change in mood towards Fed monetary policy led to a bullish trading day. The breakout was precipitated by dwindling expectations for a 75-basis-point Fed rate hike in December. However, Twitter (TWTR) acquisition updates continue to pique attention.

 

This week, DOGE rose due to rumors that Twitter is building a crypto wallet. Cryptocurrency adoption remains an important factor for investors to consider. Investors also anticipate that Elon Musk will promote crypto usage if the transaction goes through.

 

Wednesday's strong start was bolstered this morning by a further improvement in market risk appetite.


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