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February 17th - According to tech journalist Marc Gurman, Apples upcoming iPhone 18 Pro and Pro Max models will "not have major updates." Gurman stated that the iPhone 18 Pro series will only be "minor tweaks to last years iPhone 17 Pro and Pro Max." He likened this upgrade to Apples usual practice of adding an "S" to the name of minor iPhone facelifts. However, the new phones will still include several important internal upgrades, such as a new camera system with a variable aperture, the A20 chip, and a custom C2 baseband chip. Nevertheless, the new Pro models are unlikely to be "the star of Apples iPhone launch event this fall." Instead, Apples first foldable iPhone will be the focus.New Energy Vehicles: 1. NIO announced a record high in daily battery swap volume. 2. British media: The EU is promoting the localization of the automotive supply chain, requiring 70% of electric vehicle components to be "Made in Europe." Artificial Intelligence: 1. Alibaba released its new generation basic model, Qianwen 3.5, topping the list of the worlds strongest open-source large models. 2. Zhipu: Due to a surge in global demand for GLM-5, it is seeking "computing power partners" across the internet. 3. AMD and Tata Consultancy Services announced on the 6th that they are expanding their strategic cooperation to deploy AMDs latest rack-mounted AI system, "Helios," in India. Other: 1. Apple is revamping its video podcast function to keep up with the industrys visualization trend. 2. Apple will hold a product launch event on March 4th, where it may unveil new Mac products. 3. Sources: SpaceX and xAI, owned by Elon Musk, will participate in the US Department of Defenses autonomous drone technology bidding. 4. Four robotics companies—Unitree, Magic Atom, Galaxy General, and Songyan Power—will appear on CCTVs Spring Festival Gala for the Year of the Horse. 5. Wang Xingxing of Unitree Robotics: Several new products are under development in 2026. 6. Songyan Power responds to its first appearance on the Spring Festival Gala: It will promote the commercialization of robots and bring them into more scenarios. Reports indicate that U.S. Middle East envoy Witkov has flown to Geneva.Wheaton Precious Metals: Gold production is projected to grow by about 50% to 1.2 million gold equivalent ounces by 2030.Wheaton Precious Metals: Production is projected to be 860,000 to 940,000 ounces of gold equivalent in 2026 and approximately 692,000 ounces of gold equivalent in 2025.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Jumps on China PMI

Steven Zhao

Mar 01, 2023 15:37


Market Overview

It was a bullish Wednesday morning session for the Asian markets, with the Hang Seng Index leading the way. The Asian markets brushed aside bearish sessions for the Dow and the NASDAQ Composite Index. US economic indicators disappointed on Tuesday, with consumer confidence weakening for a second consecutive month and house price growth slowing.


The CB Consumer Confidence Index fell from 106.0 to 102.9 in February, with the S&P/CS HPI Composite n.s.a rising by 4.6% year-over-year in December. House prices were up 6.8% in November. Elevated US mortgage rates continue to impact buyer demand, with US mortgage rates bouncing back after a brief retreat.


On Tuesday, the NASDAQ Composite Index fell by 0.10%, with the Dow Jones and S&P 500 seeing losses of 0.71% and 0.30%, respectively. This morning, the US Futures reversed early losses. The Dow mini was up 16 points, with the NASDAQ mini flat.


Private sector PMI numbers from China delivered support to riskier assets this morning. After a China data void, today’s stats provided investors with much-needed relief. The all-important Caixin Manufacturing PMI increased from 49.2 to 51.6 in February. Economists forecast a PMI of 50.2. Significantly, the manufacturing sector expanded for the first time since July 2022.

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