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August 27th - Sources revealed that the Hong Kong IPO price for fast fashion platform Shein (00625.HK) may be set at approximately HK$48.56 per share, slightly higher than the median of the offering price range of HK$47.6 to HK$49.5. Based on the offering price of approximately HK$48.56 per share, Shein will raise HK$13.6 billion. It is understood that the offering price is still under discussion and may be subject to change.On August 27th, Bank of Japan Deputy Governor Ryozo Himino stated on Thursday that timely interest rate hikes would help prevent a sharp rise in inflation, thus preventing a forced, sudden rate increase in the future. Speaking to business leaders, Himino said, "If core inflation deviates from and exceeds our 2% target, it will have an adverse impact on the economy. Compared to the past, we should pay more attention to the upside risks to prices." He added, "Every monetary policy meeting should be conducted in depth from these perspectives."On August 27th, the State Administration for Market Regulation announced that Chinas Enterprise Credit Index for July was 158.87, showing a temporary pullback from previous highs, but the resilience of enterprise credit remains evident. The overall credit foundation of enterprises nationwide remains solid. In July, the China Enterprise Credit Index decreased by 2.35 points compared to June, influenced by factors such as the increase in the number of newly added enterprises to the list of enterprises with abnormal operations, resulting in a significant decline in regulatory sub-indicators. Simultaneously, the credit repair process accelerated, with a corresponding increase in the number of enterprises removed from the list of enterprises with abnormal operations, continued improvement in regulatory activity, a decrease in the number of enterprise deregistrations compared to the previous month, and a stronger willingness of business entities to continue operating. The fundamental trend of improving enterprise credit remains unchanged. Industry-specific enterprise credit levels declined compared to the previous month. In July, the top five industries in terms of credit index ranking were finance, electricity, heat, gas and water production and supply, residential services, repair and other services, water conservancy, environment and public facilities management, and manufacturing. Industry credit indices generally stabilized this month. Amidst index fluctuations, the mining industry index rose against the trend, while the credit index rankings for agriculture, forestry, animal husbandry and fishery reached new highs this year.Qantas executives said outbound demand from Australia to the United States is strong, while inbound demand is also performing well, and the market is recovering.August 27th - According to US media reports on the 26th, US diesel inventories have fallen to their lowest level for this time of year in history. With increased demand for agricultural fuel and winter heating, diesel prices, already nearing record highs, may rise further. Data released by the US Energy Information Administration on the same day showed that as of the week ending August 21st, US distillate fuel oil inventories (whose main component is diesel) stood at 103.4 million barrels, a decrease of 2.2 million barrels from the previous week, and about 14% lower than the average for the same period over the past five years. Bloomberg, analyzing data dating back to the early 1980s, said that current inventories are at their lowest level for this time of year in history. Data released by the American Automobile Association showed that on August 26th, the average retail price of diesel across the US was $5.62 per gallon, higher than $3.70 a year ago, and approaching the record high of $5.82 per gallon set in June 2022.

International gold prices break away from a week and a half high, investors wait for heavy data to be released

Oct 26, 2021 10:58

On Tuesday (October 5), international gold prices fell and left the high of $1,770.44 per ounce set overnight since September 23, as the U.S. dollar benefited from sluggish risk sentiment. Prior to the release of employment data in the United States this Friday, gold prices are expected to fluctuate, as the data may influence the Fed's debt purchase reduction plan.

At GMT+8 16:14, spot gold fell 0.60% to US$1759.06 per ounce; the main COMEX gold contract fell 0.46% to US$1759.4 per ounce; the US dollar index rose by 0.12% to 93.920.


The rise in the dollar index has made gold more expensive for buyers who hold other currencies. But the stock market slid as investors worried that soaring energy prices would inhibit economic growth. In addition, the US debt ceiling deadlock has also limited the downside of gold prices.

OANDA Asia Pacific senior market analyst Jeffrey Halley said that the downturn in the stock market prompted Asian investors to buy US dollars, putting pressure on gold. He added that before the US employment report is released, the price of gold will be in the range of $1750-1785.00.

U.S. President Biden said on Monday (October 4) that unless Republicans and Democrats work together to vote to increase the debt ceiling in the next two weeks, the federal government may exceed the $28.4 trillion debt ceiling and default on an unprecedented level. .

Halley said: "Gold may find support when it drops to $1750.00 this week because of inflation and US fiscal concerns." Halley added that although these uncertainties will support gold to a certain extent, U.S. monetary policy Direction will be the ultimate key factor.

It is expected that the number of non-agricultural employment in the United States in September will show continued improvement in the labor market, which may cause the Fed to begin to reduce stimulus measures before the end of the year. Reduced stimulus measures and increased interest rates have increased bond yields, putting pressure on gold because the opportunity cost of holding non-yielding gold bars will increase.

However, some market participants said that the US's reduction of debt purchase issues may have limited impact on gold because investors have already digested this expectation. Now the main force determining the direction of gold prices has turned to the magnitude and pace of the Fed's rate hike.

St. Louis Fed President Brad said on Monday that for the first time in years, American companies have encountered no problems in raising prices to customers. While the market is worried that expectations of high inflation have become entrenched, he warned that inflation may remain high for some time to come.

Brad is one of the strongest supporters in the Federal Reserve that believe that positive measures should be taken to curb higher-than-expected inflation. He believes that two interest rate hikes are needed in 2022. At present, interest rates are still at a level close to zero, which has been at this level since the outbreak of the new crown pandemic in early 2020.

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