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According to Hong Kong Stock Exchange filings, Tencent Holdings (00700.HK) repurchased 681,000 shares on August 18, at a cost of HK$300.5 million.Moodys: Supported by a flexible economy, effective institutions and proactive policymaking, the Australian economy is expected to continue to be resilient.On August 18th, Xiaomi Corporation (01810.HK) announced that in the second quarter of 2026, its revenue from its Smart Electric Vehicles and AI Innovation Business segment reached RMB 24.9 billion, representing a year-on-year increase of 17.1%. Of this, Smart Electric Vehicle revenue was RMB 23.9 billion, and other related business revenue was RMB 1 billion (including AI business revenue from the Xiaomi MiMo large model series). The gross profit margin of the Smart Electric Vehicles and AI Innovation Business segment was 19.2% in this quarter. The operating loss for the Smart Electric Vehicles and AI Innovation Business segment in the second quarter of 2026 was RMB 2.6 billion. A total of 104,199 new vehicles were delivered in the second quarter, representing a year-on-year increase of 28.2%. In the first half of 2026, the Xiaomi SU7 series ranked first in sales among pure electric sedans priced above RMB 200,000 in mainland China. As of August 17, 2026, the cumulative delivery volume of the Xiaomi SU7 series exceeded 500,000 units. The Xiaomi Pengcheng N90 Max and Xiaomi Pengcheng N70 Max are priced at RMB 299,900 and RMB 259,900 respectively, and are expected to be launched in September 2026.On August 18, the Macao Special Administrative Region (SAR) government officially released the "Macao Special Administrative Region Economic and Social Development Third Five-Year Plan (2026-2030)". The plan comprises 10 chapters, 36 sections, and 68 sub-sections, totaling approximately 86,000 words. It clearly outlines future action plans with 35 key economic and social development indicators, and defines eight major development goals, including: comprehensive implementation of the overall national security concept; further improvement in the effectiveness of governance according to law; substantial new progress in the moderate diversification of the economy; high-quality advancement of the Hengqin Cooperation Zone; significant achievements in the integrated development of education, science and technology, and talent; effective protection and gradual optimization of residents well-being; significant progress in the construction of a beautiful and smart Macao; and better integration into and service to the overall national development strategy.Moodys: Australian issuer ratings remain unchanged at AAA with a stable outlook.

Gold Price Prediction: XAU/USD bears at $1,650 on Fed hawkishness and China news

Daniel Rogers

Sep 19, 2022 14:34

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During early Monday morning in Europe, the gold price (XAU/USD) maintains a position close to the intraday low at $1,670. In doing so, metal prices endure the weight of a stronger U.S. dollar amidst a sluggish session caused by Japanese and British vacations. The cause may be related to the Fed's hawkish bets and China-related news stories.

 

US Dollar Index (DXY) reverses a two-day slump while posting intraday gains of 0.18 percent at 109.85 as of press time. Indicators of the U.S. dollar's value versus the six major currencies have recently been buoyed by the University of Michigan's September consumer sentiment report and the market's positive expectations on the Fed's next move. Consequently, the probability of a 75-basis-point (bps) rate hike by the Federal Reserve increased to 80%, while the market's estimates of a one-percentage-point increase in the Fed rate rose to 20% at the latest.

 

US President Biden stated elsewhere, "I'm more positive than I've been in a long time." The national leader also claimed that inflation will be brought under control. On the same line are the covid updates from China, which have unlocked Dalian and Chengdu while observing zero coronavirus cases in Beijing and one, as opposed to zero the day before, outside of Shanghai's quarantine zone. However, US President Biden's willingness to support Taiwan in the event that China assaults Taiwan and hawkish expectations for the Federal Reserve appear to weigh on the steel price ahead of the major monetary policy pronouncements.

 

In addition, the People's Bank of China (PBOC) reduces the 14-day reverse repo rate by 10 basis points to 2.15 percent. "With no maturing reverse repos on Monday, the Chinese central bank injects 12 billion yuan," reports Reuters. The same might have indicated that the dragon nation is not in recovery mode and requires more rate cuts than rate raises, which could have caused the gold price to plummet. The cause is China's position as one of the world's largest gold consumers.

 

In light of this, the S&P 500 Futures post modest losses while mirroring Wall Street's Friday close. Notably, the selling in Japan curbs bond movements in Asia, but yields are robust near the multi-day high due to fears of a recession and hawkish Fed views.

 

Moving forward, a light economic calendar and important market holidays may limit intraday XAU/USD price fluctuations. However, bears are expected to maintain control because to aggressive Fed expectations, which, if dashed, might defy the bearish chart pattern and spark the long-awaited rally.

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