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According to EuroPravda, the Czech president stated that the goal of supplying Ukraine with 1.8 million rounds of large-caliber ammunition this year has been achieved.Iranian media reported that 18 crew members of a foreign oil tanker seized in the Gulf of Oman have been detained on suspicion of transporting "smuggled fuel."On December 13th, Han Wenxiu, Deputy Director of the Central Financial and Economic Affairs Commission and Director of the Central Rural Work Leading Group Office, stated that to ensure the success of next years economic work, it is essential to adhere to the principle of seeking progress while maintaining stability, improving quality and efficiency, strengthening counter-cyclical and cross-cyclical adjustments, and effectively enhancing the efficiency of macroeconomic governance. Since the Politburo meeting on September 26th last year, a series of policies and measures have been introduced and implemented, and additional policies will be introduced and implemented next year based on changes in the situation. It is crucial to leverage the integrated effect of existing and new policies to promote steady and positive economic growth. The market economy is largely an expectation economy; therefore, it is necessary to improve the expectation management mechanism, conduct effective economic publicity and public opinion guidance, respond promptly to market concerns, and effectively boost social confidence.On December 13th, it was reported that an EU official stated on the 12th that Ukraines accession to the EU before 2027 is "absolutely impossible." According to reports, a European diplomat said that Ukraines accession to the EU before 2027 is "extremely difficult," and it is unclear whether EU leaders support this plan. Hungarian Prime Minister Viktor Orbán stated on the 8th that the EUs admission of Ukraine would be tantamount to declaring war on Russia, and that the EU is preparing for war with 2030 as the target date.On December 13, Venezuelan President Maduro stated that the United States usual tactics of lying, coercion, extortion, and threats are "completely ineffective" and "will never work" against Venezuela, following the recent seizure of an oil tanker in waters near Venezuela and the announcement of new sanctions.

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.