• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 26, according to the Wall Street Journal, in order to simplify the negotiations on reciprocal tariffs, US negotiating officials plan to use a new framework developed by the Office of the United States Trade Representative (USTR), which lists major categories of negotiations, such as tariffs and quotas, non-tariff trade barriers, digital trade, product origin principles, economic security and other commercial issues. In these categories, US officials will put forward specific requirements for individual countries, but people familiar with the matter emphasized that this document may also be adjusted at any time. People familiar with the matter said that the United States initial plan is to negotiate with 18 major trading partners in turn over the next two months. The initial plan is to alternately participate in the talks with six countries per week for three weeks (six countries in the first week, another six countries in the second week, and another six countries in the third week) until the deadline of July 8. If US President Trump does not extend the 90-day suspension period he set by then, those countries that cannot reach an agreement will begin to face reciprocal tariffs.On April 26, after the United States announced additional tariffs on goods from many countries, Peruvian business people expressed concerns that the US governments extreme measures would disrupt the global trade order and may even trigger a global economic recession. Alvaro Barrenechea Chavez, vice president of the Peruvian-Chinese Chamber of Commerce, said that the negative impact of the US tariff policy has begun to emerge and hoped that the US government would rethink. Recognizing the importance of countries working together to promote development, I think this is the best way to become a true "world citizen."Market news: Musks xAI company plans to raise about US$20 billion in a financing round.Conflict situation: 1. Ukrainian top commander: Russia tried to use air strikes as a cover to increase ground attacks, but was repelled by Ukraine. 2. Ukrainian Air Force: Russia launched more than 103 drones in the night attack on Ukraine. 3. Local officials said Ukraine launched an attack in the Belgorod region of Russia, killing two people. 4. The local governor said that Russia launched an attack on the Dnipropetrovsk region of Ukraine, killing one person and injuring eight people. Peace talks: 1. Trump: ① The situation between Russia and Ukraine is gradually becoming clear, and they are "very close" to reaching an agreement. ② Ukraine is unlikely to join NATO. ③ Ukraine has not yet signed the rare earth agreement and hopes that the agreement can be signed immediately. ④ It is foreseeable that the United States will conduct commercial cooperation with Ukraine and Russia after reaching an agreement. 2. Russian Foreign Minister: Russia is "ready to reach an agreement on Ukraine." 3. Russian Presidential Assistant Ushakov: Russia and the United States will continue to maintain active dialogue. 4. Russian Presidential Assistant: Putin discussed the possibility of resuming direct negotiations between Russia and Ukraine with the US envoy. 5. The differences between the United States, Europe and Ukraine are clear. The documents show that European countries and Ukraine have raised objections to some of the US proposals to end the Russia-Ukraine conflict. 6. Market news: As part of the peace agreement, the United States asked Russian President Putin to abandon the demilitarization requirement. Other situations: 1. President of Hungarys OTP Bank: We hope to return to all business areas in Russia after the (Russia-Ukraine) conflict ends. 2. Ukrainian President Zelensky: US ground forces are not necessary for Ukraine. 3. Trump said Crimea will remain in Russia, Zelensky: Never recognize it. Agreeing with Trumps view, Crimea cannot be recovered by force. 4. NATO Secretary-General Rutte met with Trump and senior US officials to discuss defense spending, NATO summit, and the Ukrainian conflict.Rising global trade risks, overall policy uncertainty and the sustainability of U.S. debt top the list of potential risks to the U.S. financial system, according to the Federal Reserves latest financial stability report released on Friday. This is the first time the Fed has conducted a semi-annual survey on financial risks since Trump returned to the White House. 73% of respondents said that global trade risks are their biggest concern, more than double the proportion reported in November. Half of the respondents believe that overall policy uncertainty is the most worrying issue, an increase from the same period last year. The survey also found that issues related to recent market turmoil have received more attention, with 27% of respondents worried about the functioning of the U.S. Treasury market, up from 17% last fall. Foreign withdrawals from U.S. assets and the value of the dollar have also risen on the list of concerns.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Hits Reverse

Cory Russell

Feb 24, 2023 15:22

Industry Snapshot

This morning's class was diverse. The Nikkei 225 and ASX 200 both made advances, and US economic data and a positive US stock market session provided support in the morning. The US Futures, however, were followed into bearish terrain by the Hang Seng Index.


The immediate concerns of a more active Fed interest rate trend were allayed on Thursday by US economic data. The US economy grew less quickly than anticipated, but the job market stayed constrained. In Q4 the economy expanded by 2.7% as opposed to a preliminary 3.2%. However, the Fed was given some fuel for thought when initial unemployment applications dropped from 195k to 192k.


The NASDAQ Composite Index increased by 0.72% in reaction to the statistics and US business profits, while the Dow and the S&P 500 increased by 0.33% and 0.53%, respectively.


The heavyweights were held back from making more significant advances this morning by market anxiety regarding today's US Core PCE Price Index figures. A challenging US session is expected, as evidenced by the Dow Mini's 19-point decline and the NASDAQ Mini's 18-point decline.


Kazuo Ueda, the new governor of the Bank of Japan, brought comfort to the market by promising to keep the country's ultra-loose monetary policy in place despite the most recent inflation figures.


This morning's Asian economic schedule was relatively light as the G20 meeting got started in India, where inflation, the situation in Ukraine, and the connection between China and Russia could be heated subjects.

ASX 200

The overnight advances in the US provided assistance for the ASX 200's rise of 0.27%. Investors were not given any statistics from the Australian economic schedule this morning.


Financial equities provided assistance. National Australia Bank (NAB) and ANZ Group (ANZ) both saw gains of 0.53% and 0.57%, while Westpac Banking Corp (WBC) increased by 0.35%. With an increase of 1.34, the Commonwealth Bank of Australia (CBA) took the lead.


The early session of mining equities was negative. BHP Group Ltd (BHP) and Rio Tinto (RIO) both experienced declines of 3.34% and 1.83%, while Fortescue Metals Group (FMG) experienced a decline of 1.99%. The price of Newcrest Mining (NCM) fell by 2.54%.


Crude oil prices increased, supporting energy asset values. Gains of 0.80% and 1.15% were recorded by Santos Ltd. (STO) and Woodside Oil Company (WDS), respectively. This morning, WTI Oil increased 0.77% to $75.97.

Hang Seng

This morning, the Hang Seng fell 1.33%, defying the general Asian market pattern. This morning's market risk appetite was not influenced by any economic data. On the first anniversary of Russia's attack of Ukraine, the Hang Seng Index was negatively impacted by a downbeat morning session for the CSI 300.


Alibaba Group Holding Ltd (HK:9988) fell by 4.15%, while Tencent Holdings Ltd (HK:0700) fell by 2.02%.


Additionally, the morning was negative for equities in banks. China Construction Bank (HK: 0939) and Industrial and Commercial Bank of China (HK:1398) both experienced declines of 0.61% and 1.00%, respectively, while HSBC Holdings PLC fell by 0.94%.