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Market news: U.S. health officials and technology executives will launch a data sharing program.On July 26, the Russian Ministry of Defense issued a notice saying that the Russian army has controlled two settlements in Zeleonegai in the Donetsk region and Maliyevka in the Dnipropetrovsk region. The notice said that Zeleonegai is an important stronghold of the Ukrainian army on this front, ensuring the security of the border passage to the Dnipropetrovsk region of Ukraine. Maliyevka is the second settlement in the Dnipropetrovsk region controlled by the Russian army.According to the Washington Post: DOGE is using AI tools to cut federal regulations, with the goal of eliminating 50% of regulations before the first anniversary of Trumps inauguration.On July 26, Australian Deputy Prime Minister and Defense Minister Richard Mars and visiting British Defense Secretary John Healey signed the Nuclear Powered Submarine Partnership and Cooperation Treaty (also known as the Geelong Treaty) in Geelong, Victoria, and claimed that the treaty was the "first pillar" of the "Australia-UK-US Alliance". The two countries commitment to bilateral defense cooperation for the next 50 years. According to a joint statement issued by Mars and Healey, the Geelong Treaty will enable the two countries to fully cooperate in the design, construction, operation, maintenance and disposal of the "Australia-UK-US Alliance" class nuclear submarines. It will support the development of personnel, infrastructure and regulatory systems required for Australias "Australia-UK-US Alliance" class nuclear submarine project, while also supporting the port visits of the UKs "Astute" class nuclear submarines and their rotational garrison at the Australian Stirling Naval Base.July 26th news, on the afternoon of the 26th, the reporter asked the Laotian military for confirmation. The Laotian side said that there was no exchange of fire between the Laotian and Cambodian armies, and the Lao side did not arrest the Cambodian armed personnel who illegally crossed the border. In addition, a source from the Lao Peoples Army said that the "Lao Peoples Army and Cambodian armed personnel exchanged fire" was false news. The authoritative Lao military media "Peoples Army Newspaper" said that it had not received any relevant notification. Cambodian Ministry of Defense spokesperson Mary Su Jieda also said on the same day that the relevant news was unfounded and the incident had never happened. Earlier that day, Thailands Thai Rath reported that the Laotian military issued an emergency notice on the 26th, saying that the Laotian army had a fierce exchange of fire with several Cambodian armed personnel who illegally crossed the border, arrested 10 people and seized weapons.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Trails on Growth Targets

Alice Wang

Mar 06, 2023 17:13

Market Overview

It was a bullish start to the week for the Asian markets, with the ASX 200 and Nikkei 225 on the move. However, the Hang Seng Index trailed the front runners, with revised growth targets from Beijing testing buyer appetite.

Economic indicators from the US and a shift in sentiment toward Fed monetary policy supported a bullish end to the week for the US markets. The ISM Non-Manufacturing PMI slipped from 55.2 to 55.1, indicating solid service sector activity and a sharp rise in hiring. In February, the ISM Non-Manufacturing Employment Index jumped from 50.0 to 54.0.


However, the numbers failed to fuel more aggressive Fed policy bets, with the talk of slow and steady rate hikes resonating.

Hawkish chatter from the weekend failed to weigh in risk sentiment this morning. On Saturday, FOMC Member Mary Daly spoke of lifting interest rates in 50-basis point increments to tackle inflation.

However, growth targets from Beijing pegged back the Hang Seng Index. China delivered a 5% growth target, below market expectations of 5.5%. The disappointing growth target weighed on the CSI 300, which fell by 0.56% this morning, bucking a bullish market trend.

There were no economic indicators from Asia to distract investors this morning. With US factory orders out later today, the focus will shift to the Fed and Fed Chair Powell’s testimony on Tuesday. A move to a more hawkish posture would catch the markets by surprise.