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On April 3, Morningstar Information (MORN.N) released its 2024 financial report. The companys full-year revenue in 2024 was US$2.3 billion, an increase of 11.6% over the previous year; consolidated operating profit reached US$484.8 million, a year-on-year increase of 110.2%; cash flow from operating activities was US$591.6 million, a year-on-year increase of 87.0%; free cash flow reached US$448.9 million, a year-on-year increase of 127.5%. In terms of business, credit business is the main driving force for the companys revenue growth, achieving a 35.1% increase, and the adjusted operating profit margin rose to 26%, an increase of 15.9 percentage points over the previous year. In addition, in 2024, the companys investment management and consulting assets increased by 12.3% and 19.7% respectively over the previous year. At the same time, the companys investment advisory accounts achieved double-digit growth in 2024.Japanese Minister of Economy, Trade and Industry Yoji Muto: We are strongly concerned about whether the US tariff measures are in line with WTO agreements.Japanese Minister of Economy, Trade and Industry Yoji Muto: We will strongly request the United States to exempt Japan from tariff measures and set up a special working group to provide information and grasp the impact.Japanese Minister of Economy, Trade and Industry Yoji Muto: The content of (US tariffs) needs to be analyzed and the impact on the Japanese economy examined.Japanese Economy, Trade and Industry Minister Yoji Muto: We have told the United States that the new tariff announcement is "extremely regrettable."

Hang Seng Index, ASX200, Nikkei 225: US CPI Report Weighs on Sentiment

Steven Zhao

Feb 15, 2023 16:19

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The Market Overview

The Hang Seng Index and the larger Asian markets had a gloomy morning session. This morning's market risk sentiment was affected by the US CPI Report for January. Investors would have hoped for softer-than-expected results despite the fact that US inflation eased in order to lessen the possibility that the Fed would raise interest rates over 5%.


The annual inflation rate in the US decreased in January from 6.5% to 6.4% compared to an anticipated 6.2%, confirming the hawkish view for interest rates.


The NASDAQ Composite Index increased on Monday while the Dow decreased by 0.46%.


Geopolitical tensions between the US and China added to the negative Hang Seng session despite the absence of any regional economic signs to divert investors.

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ASX 200

The ASX 200 was down this morning by 1.22%. Australian economic data were not available to influence market sentiment. RBA remarks, however, once again hurt the ASX 200.


RBA Governor Philip Lowe addressed members of parliament after last week's aggressive RBA Rate and Monetary Policy Statements, outlining the catastrophic repercussions of failing to control inflation.


Reuters quotes Lowe as saying, "The current inflation rate of 7.8% is much too high. It must be taken down. We are most concerned about it.


The ASX 200 fell as the US CPI report came in hotter than anticipated and the RBA said that it will fight inflation.


Bank stock prices saw a down day this morning. CBA and WBC both had declines of 5.78% and 4.48%, respectively. NAB and ANZ Group both had declines of 3.95% and 3.61%, respectively.


Small assistance came from mining stocks. Fortescue Metals Group (FMG) fell by 0.47%, while Rio Tinto (RIO) and BHP Group Ltd (BHP) both had increases of 1.05% and 0.11%, respectively. Newcrest Mining (NCM) also had a decline, dropping by 1.11%.


Woodside Energy Group (WDS) and Santos Ltd (STO), which were down 2.32% and 0.70%, respectively, were affected by a decline in crude oil prices. WTI fell 0.52% this morning to $78.65.

HONG SEN GOLD INDEX

Market response to the US CPI Report and the deterioration of US-China ties caused the Hang Seng to fall 1.28% this morning.


Tencent Holdings Ltd. (HK:0700) down 1.48%, while Alibaba Group Holding Ltd. (HK:9988) fell 2.15%.


Industrial and Commercial Bank of China (HK: 9988), China Construction Bank (HK: 0939), and HSBC Holdings PLC all saw declines in their respective bank stock prices.

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