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On March 25th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.5280%, and the lowest was 0.7710%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.1930%, and the lowest was 1.0200%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.2230%, and the lowest was 1.0020%.The Peoples Bank of China (PBOC) announced today that it conducted 78.5 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 78.5 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.On Wednesday, March 25, the Hang Seng Index opened 216.81 points higher, or 0.87%, at 25,280.52; the Hang Seng Tech Index opened 47.75 points higher, or 0.99%, at 4,878.64; the H-share Index opened 60.43 points higher, or 0.71%, at 8,559.96; and the Red Chip Index opened 4.78 points higher, or 0.11%, at 4,214.86.Hang Seng Index futures opened 1.05% higher at 25,201 points, a premium of 140 points.On March 25th, Liao Min, Vice Minister of Finance, met with John S. Gerber, Chairman, President and CEO of Thermo Fisher Scientific, in Beijing on March 22nd to exchange views on China-US economic and trade relations and government procurement. Liao Min stated that China-US relations are the most important bilateral relationship in the world today, and the essence of China-US economic and trade relations is mutual benefit and win-win. He welcomed US companies to seize the opportunities presented by Chinas vast market, increase their investment in China, and inject more stability and positive energy into China-US economic and trade relations. China will continue to support both domestic and foreign-invested enterprises in participating in government procurement equally. Gerber introduced Thermo Fishers operations in China, expressed optimism about Chinas economic development prospects, and stated that the company will continue to deepen its presence in the Chinese market, actively participate in Chinese government procurement, and help promote the deepening of US-China economic and trade cooperation.

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.