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Fitch: New Zealands early return to surplus still depends on economic growth.On June 3, Goldman Sachs upgraded its rating on Taiwan stocks to overweight, citing "our confidence that AI-related investments will drive strong earnings growth for technology hardware companies through 2028 and beyond." Goldman Sachs raised its target for the Taiwan Weighted Index to 51,000 points, but noted that "tactical risks remain."The main paraxylene (PX) contract rose more than 2.00% intraday, currently trading at 8,996 yuan/ton.On June 3rd, at a regular press conference held by the Taiwan Affairs Office of the State Council, we noted that Nvidia founder Jensen Huang recently stated that Taiwan needs more electricity, leading to concerns within Taiwan about the islands power supply shortage. The Democratic Progressive Party (DPP) has consistently avoided addressing the vital energy issue that is crucial to the industrys survival. What is your comment on this? Spokesperson Zhu Fenglian of the Taiwan Affairs Office stated that the DPP authorities are single-mindedly pursuing "Taiwan independence" and have neither the will nor the ability to solve the structural problems facing the islands economic and social development. Power shortages have become a Achilles heel of Taiwans economic and social development, a fact that is evident to all. The DPP authorities have highly politicized the energy issue, not addressing it directly but using it as a tool for partisan suppression and attacking opponents, revealing their self-serving nature and disregard for the interests, well-being, and future development of the Taiwanese people.On June 3rd, Pan Chunsheng, Vice President of the China Association for Public Companies, stated at the 2026 China Social Responsibility Investment Summit Forum that despite the uncertainties brought about by policy differences, the underlying logic of sustainable development remains unchanged, and fundamental issues such as climate risk, supply chain security, and social equity will only become more urgent. He advised listed companies to maintain strategic focus and not easily change their direction in the face of short-term fluctuations in the external environment or temporary policy adjustments. Regarding the significant differences in disclosure requirements faced by companies going global in different markets, he suggested that listed companies gradually build cross-standard management capabilities and make adequate preparations in advance for different markets such as the EU, Southeast Asia, and the US. Furthermore, Pan Chunsheng pointed out that listed companies are encouraged to communicate more proactively with investors, using quantifiable data and verifiable performance to demonstrate a shared understanding of sustainable development.

Gold is trapped below $1750, the dollar is rising, and yields are rising

Haiden Holmes

Aug 23, 2022 11:08

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Gold prices rose somewhat on Tuesday after seven straight sessions of losses, but remained under pressure as increased expectations of a hawkish Federal Reserve boosted the dollar and Treasury yields.


As of 20:39 ET, spot gold was up 0.1% to $1,738.52 per ounce, while gold futures were up 0.2% to $1,751.55 per ounce (00:39 GMT). Expectations that the Fed will continue to hike interest rates at a quick pace have pushed traders into the dollar over the last seven sessions, causing both currencies to fall.


The dollar index fell slightly on Tuesday, but it was still trading at six-week highs. The dollar was mainly boosted by Fed members' hawkish views last week, which signaled that the central bank had no plans to reduce the pace of interest rate hikes.


On Monday, 10-year US Treasury yields jumped by more than 1% and reached a one-month high.


Fed Chair Jerome Powell is set to speak at the Jackson Hole Symposium on Friday, when he is expected to debunk suspicions that the Fed is planning to go dovish.


Softer-than-expected US inflation numbers for July fueled speculation that the Fed may scale back its interest rate hikes beginning in September. However, signs of a strong labor market and hawkish comments from Fed members have dampened this optimism.


Traders are split about evenly between a 50 basis point increase and a 75 basis point increase at the Fed's upcoming meeting.


Gold has given up the majority of its gains for the year as a result of the Fed's four rate hikes to combat out-of-control inflation. The yellow metal has greatly trailed the US inflation rate in 2022.


Copper prices rose little among industrial metals as the world's top importer, China, announced fresh stimulus measures.


Copper futures increased 0.2% to $3.6620 per pound.


On Monday, the People's Bank of China slashed interest rates for the second week in a row, indicating that Beijing is likely to pursue additional economic stimulus measures.


A stimulus-driven revival in Chinese industrial activity might boost copper demand, benefiting prices.

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