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March 12th news, Hong Kong Financial Secretary Paul Chan said in his speech at the Asian Technology Transformation Summit 2025 on March 12th that the scale of IPO fundraising in Hong Kong last year was about US$11 billion, and this year the local IPO fundraising scale is expected to reach US$17 billion to US$20 billion.On March 12, Goldman Sachs lowered its target price for the S&P 500 index by the end of 2025 from 6,500 to 6,200, reflecting that the agency adjusted its fair forward price-to-earnings (P/E) valuation from 21.5 times to 20.6 times, a decrease of 4%. At the same time, it lowered its earnings per share (EPS) expectations for index constituents, from $268 in 2024 to $262, and from $288 in 2025 to $280.On March 12, according to Yonhap News Agency, South Koreas financial regulator is considering lowering the mandatory solvency ratio (K-ICS) of insurance companies from the current 150% to a maximum of 130%. The regulator plans to introduce new basic capital solvency ratio regulatory standards to prevent the deterioration of capital quality, which is part of the insurance industrys two-track improvement strategy. Adjustments to the solvency ratio will also affect related regulations, including the reserve accumulation ratio for policyholder refunds, allowing for lower reserve requirements under certain conditions.World Bank: Vietnams economy still faces global uncertaintiesOn March 12, Bank of Japan Governor Kazuo Ueda said he was not worried about the rise in Japanese government bond yields to the highest level since 2008, and did not intend to take any immediate action. Kazuo Ueda said: "My understanding is that the upward trend since last year reflects the markets view on the economy and inflation, or changes in overseas interest rates. There is no major gap between our views and the markets views." This statement shows that even if the benchmark 10-year government bond yield breaks through the key threshold of 1.5%, the Bank of Japan is unlikely to get involved in the bond market. The Bank of Japan ended its yield curve control (YCC) last year, and Kazuo Ueda has always believed that the yield level should be determined by the market. "One of the biggest factors driving long-term yields is the markets expectations of the short-term interest rate outlook. It is natural for yields to fluctuate with expectations." On Wednesday morning, Japans 20-year government bond yields hit a new high since 2008, and the 30-year bond also climbed to its highest level since 2006.

Forming Potentially Bearish Reversal Top

Cory Russell

Jul 25, 2022 15:22

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Late in the trading day on Friday, September E-mini Dow Jones Industrial Average futures are trading lower after giving up previous gains. The blue chip Dow had a sharp decline as the S&P 500 Index and NASDAQ Composite Index experienced a sharp decline as technology equities fell as a result of disappointing earnings results from Snap and Twitter.


September E-mini Dow Jones Industrial Average futures are trading at 31772, down 235 points or 0.73 percent, as of 17:53 GMT. From an intraday high of 32193, this is now lower. The SPDR Dow Jones Industrial Average ETF (DIA) is down $1.33 or 0.41 percent, trading at $319.08 today.


In stock-related news, shares of Intel Corp. and Verizon Communications are both down close to 3.5 percent. Apple is down over 1.0 percent, while Microsoft is down more than 1.5 percent.


Procter & Gamble and American Express are the only companies outperforming the market, both up by about 2.0%.

Economic Information Influences Attitude

Following the publication of additional discouraging economic statistics, doubts about the status of the American economy as well as concerns about profits affected confidence.


The U.S. PMI Composite output index, which analyzes activity in both the manufacturing and service sectors, recorded a preliminary value of 47.5, which indicates declining economic production. The index has not been at that level for more than two years.

Swing Chart Technical Analysis for the Day

The daily swing chart indicates that the overall trend is upward, but the price action in the late session indicates that momentum may be changing to the negative.


A transaction through 32193 will indicate that the uptrend has resumed. If 30109 is crossed, the primary trend will shift to being downward.


Smaller trend is similarly upward. The minor trend will turn downward if there is a trade through 31504. The downward momentum will change as a result.

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