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On January 16, CICC issued a report indicating that it raised the target price of Q Technology (01478.HK) by 32% to HK$6.42 and maintained its "outperform" rating. It is optimistic about the profit improvement brought by mobile phone optics and the growth of automotive business in 2025. CICC pointed out that due to the higher shipment volume than the companys guidance, it raised the net profit attributable to the parent company in 2024 and 2025 by 7%/10% to RMB 280 million/390 million, and introduced the revenue/net profit attributable to the parent company of RMB 21 billion/510 million in 2026.On January 16, Bank of America Securities issued a report stating that it decided to downgrade the companys rating from "buy" to "neutral" and lowered its target price from HK$93 to HK$80 because it believed that Sun Hung Kai Properties (00016.HK) dividend per share would not increase from fiscal 2025 to fiscal 2026. The bank pointed out that Sun Hung Kai Properties current valuation is 64% lower than its net asset value per share, but in an environment of continued high interest rates, it believes that there is limited room for further compression of its dividend yield (5.3%).Kong Dong-Rak, economist at Daishin Securities: The Bank of Korea also seemed to be under pressure from the headlines of "three consecutive rate cuts" today and remained on hold. Its monetary easing policy stance remained unchanged, and the market reaction still seemed to indicate a rate cut next month.South Koreas central bank governor Lee Chang-yong said: The main reason for the sharp decline in the won against the US dollar was the strengthening of the US dollar, but the currency hedging operations of pension funds helped mitigate the losses.January 16th, in the last days of the Biden administration, bipartisan U.S. senators on Wednesday called on U.S. Trade Representative Kiki Tai to stop "secret negotiations" with Mexico, Canada and Colombia, which they said would weaken investor protections in some U.S. free trade agreements. A source familiar with the trade negotiations refuted the senators description of "secret negotiations," insisting that the U.S. Trade Representatives Office had consulted with members of Congress, even though there was no legal requirement to do so.

GBP / USD Advances To 1.1950 As Investors Ignore Aggressive Fed Bets And Concentrate On UK Data

Alina Haynes

Mar 10, 2023 11:35

 GBP:USD.png

 

During the Asian session, the GBP/USD pair successfully relocated its business above 1.1950. The Cable is attempting to extend its recovery towards 1.1950 despite investors' lack of concern regarding the United States Nonfarm Payrolls (NFP) report. Moreover, investors have begun to disregard the volatility associated with aggressive Fed rate hike wagers. Investors are aware that higher inflation could be contained by restrictive Fed measures; consequently, an increase in Fed interest rates is likely.

 

In the Asian session, S&P500 futures have extended their losses from Thursday, when investors were discouraged by higher taxes on corporations, billionaires, and wealthy investors. Higher taxes on corporations will reduce their Net Profit margins, resulting in lower dividends for shareholders.

 

The US Dollar Index (DXY) fell below Thursday's low of 105.13 on expectations that the US labor market is not as robust as previously thought. The US labor market may decelerate soon, according to an increase of 11% in Initial Jobless Claims and a quadrupling of planned layoffs by US companies. This may compel the Fed to continue its gradual pace of rate increases.

 

Notwithstanding, the release of the US NFP will be of the utmost importance to the market. The number of payrolls in the United States increased by 203K in February, as predicted. It is anticipated that the unemployment rate will remain at 3.4%.

 

On the front of the British Pound, manufacturing sector data will be intently observed. Monthly Manufacturing Production (January) and Industrial Production are anticipated to decrease by 0.1% and 0.2%, respectively.

 

Investors should be aware that the performance of the manufacturing sector in the United Kingdom has remained fragile over the past few months. This may compel the Bank of England (BoE) to pause policy tightening for the time being, allowing current monetary policy to demonstrate its impact.


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