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On February 12th, Morgan Stanley released a technical research report predicting that WuXi Biologics (02269.HK) shares will rise in the next 45 days, with a probability of 70% to 80%. The company previously issued a profit warning, and management indicated accelerated growth in fiscal year 2026. This, coupled with a 16% increase in the number of integrated projects in 2025 and strong momentum in research services, all reflect a strong performance in 2026. Furthermore, the momentum in research services will generate IP-related revenue, further enhancing profitability. The company also recently entered into licensing agreements with Vertex and Zai Lab (09688.HK). Based on WuXi Biologics accelerating revenue growth and profit margin expansion, the bank raised its earnings forecasts for 2026 to 2030 by 4% to 10%, increased its target price from HK$45 to HK$50, and maintained its "Buy" rating.Fitch Ratings: Large Japanese financial groups are better able to withstand interest rate shocks than their peers.Jefferies raised its price target for McDonalds (MCD.N) from $360 to $375.Market news: U.S. Commerce Secretary Rutnick will meet with Japanese Minister of Economy, Trade and Industry Ryosuke Akazawa in Washington on Thursday.Hong Kong-listed AI stocks continued to diverge in the afternoon session. Zhipu (02513.HK) surged over 37%, MINIMAX-WP (00100.HK) rose over 17%, and Vobile Group (03738.HK) climbed over 11%. Kingsoft Cloud (03896.HK) and SenseTime (00020.HK) both rose over 6%. Conversely, Cloud Music (09899.HK) fell over 10.5%, Lenovo Group (00992.HK) dropped over 5%, Kingdee International (00268.HK) and Meituan (03690.HK) declined over 4.5%, and Meitu (01357.HK) fell nearly 4%.

Crypto Market Daily Highlights – DOGE Hits Reverse in a Mixed Session

Cory Russell

Nov 04, 2022 16:33

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The top 10 cryptocurrency exchanges had a choppy Thursday session. Dogecoin (DOGE), BNB, and XRP all found support as the price fell. BTC broke a four-day losing trend and continued to stay over $20,000.


US economic figures were below forecasts, supporting the cryptocurrency market.


The ISM Non-Manufacturing PMI decreased from 56.7 to 54.4 in October. Analysts predict a drop to 55.5. The Index's sub-components were diverse. The non-manufacturing employment index for ISM dropped from 50.0 to 49.1. The Prices Index, however, increased from 68.7 to 70.7.


The unit labor cost data and other statistics, which were crypto-positive, contained unemployed claims. Initial unemployment claims decreased from 218k to 217k, while unit labor expenses increased by 3.5% in Q3, down from 8.9% in Q2.


The statistics supported the cryptocurrency market, while the NASDAQ Composite Index dropped by 1.73% as traders responded to Fed Chair Powell's comments.


The focus of today's late-day crypto market test will be the US employment data. Better-than-anticipated results would test consumer interest. The NASDAQ 100 Mini was down 12.75 points this morning.

Despite Weak US Economic Indicators, the Crypto Market Finds Support

The crypto market saw a bumpy day on Thursday, plunging to an early low of $944.0 billion and then recovering to a late-morning high of $974.4 billion. The market valuation for cryptocurrencies fell to $952.3 billion in the late morning, but before investors reacted to the ISM Non-Manufacturing PMI, the market cap rose to $966.1 billion before relaxing again.


The cryptocurrency market increased by $4.6 billion to close the day at $956.2 billion despite the late decline.

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