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On January 12th, Baisheng Intelligent announced that it recently signed a "Strategic Cooperation Agreement on Parking Lots" with Baolong Group, with a planned total cooperation amount of 200 million yuan. Baolong Group and its affiliated companies own commercial parking lot operation rights/ownership nationwide. To effectively manage parking spaces and improve parking service and management levels, they need to cooperate with professional operating companies to operate parking lots. Baisheng Intelligent and its affiliated companies are integrated parking solution operators specializing in parking and new energy vehicle charging operation management, and can undertake the systematic operation of commercial parking lots.On January 12th, Tmall released its "2025 New Brand Development Report." Regionally, Guangzhou, Shenzhen, Jinhua, Hangzhou, Quanzhou, Xiamen, Wuhan, Xuzhou, Dongguan, and Zhengzhou saw the most new merchants, becoming Tmalls top 10 cities for brand creation in 2025. Guangzhou continues to lead in entrepreneurial vitality, ranking first for three consecutive years, with over 18,000 new stores opening in Guangzhou in 2025, double the number in 2023.January 12th - Today, Jia Yueting, founder of Faraday Future, announced that FF will hold the final launch of its first batch of embodied intelligent robot products at the NADA North American Automotive Dealer Conference on February 4th, and simultaneously launch sales.On January 12, it was reported that on January 8, Vice Minister of Finance Liao Min met with former Canadian Prime Minister Jean Chrétien in Beijing to exchange views on China-Canada relations, China-Canada economic and trade relations, and two-way investment. Liao Min stated that China is willing to work with Canada to implement the important consensus reached by the leaders of the two countries, resume and restart dialogue and cooperation in economic and financial fields, and promote the healthy, stable, and sustainable development of China-Canada relations and China-Canada economic and trade relations. Chrétien positively appraised the current positive momentum in Canada-China relations, believing that the stable development of Canada-China relations is in the interests of the people of both countries. He noted that the economies of Canada and China are highly complementary and have broad prospects for cooperation, and expressed his willingness to continue contributing to the development of Canada-China relations and Canada-China economic and trade relations.On January 12th, Minister Li Lecheng of the Ministry of Industry and Information Technology stated that the "15th Five-Year Plan" proposes to "promote the digital and intelligent transformation of the manufacturing industry." On the one hand, this involves focusing on industrial data as the key driver. We will launch an industrial data infrastructure development initiative to build a number of high-quality industry datasets and strengthen data consulting and data labeling businesses. On the other hand, we will implement the "Artificial Intelligence + Manufacturing" special action plan, comprehensively deploying general-purpose and industry-specific large-scale models, cultivating a number of key industry intelligent agents and intelligent native enterprises; accelerating the intelligent upgrading of the manufacturing industry; and widely exploring artificial intelligence application scenarios. These numerous "small scenarios" will converge to form a unified "large-scale" landscape, injecting strong momentum into the high-quality development of the manufacturing industry.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Stumbles Early

Cory Russell

Feb 06, 2023 15:51


Market Snapshot

This morning's session was diverse. The Hang Seng Index touched reverse this morning as market risk sentiment was affected by US economic statistics from Friday.


Fears of a more hawkish Fed action in March increased as a result of the significant increase in nonfarm payrolls and the decline in the US unemployment rate to 3.4%. The ISM Non-Manufacturing PMI figures allayed the immediate fears of a US economic downturn, providing the Fed even another justification for continuing to front-load to combat inflation.


Investors also reacted to Alphabet Inc. (GOOGL) and Apple Inc.'s (AAPL) dismal results and bleak outlooks, which helped to explain the NASDAQ Index's 1.59% decline on Friday.


There were no statistics or geopolitical developments this morning to influence the overall market risk attitude. The markets will require FOMC member talk to restore order after last week's US economic readings. The Fed Funds Rate is predicted to increase by 25 basis points to 5%. Any rumors of a more forceful action would be negative.