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According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) repurchased 358,400 shares on the Hong Kong Stock Exchange on September 2 for HK$57.7 million; on the same day, it repurchased a total of 10,000 shares on other exchanges for £153,889.54.On September 3rd, it was reported that South Koreas semiconductor exports surged 209% year-on-year in August, reaching a record $46.65 billion, accounting for 47.5% of total merchandise exports that month. This was mainly driven by demand for artificial intelligence infrastructure. However, such rapid growth has also raised concerns about future trends. Moodys Analytics economist Dave Chia stated, "A gradual slowdown is manageable, but a sudden halt is another matter, because the South Korean economy is already operating at two speeds, and the industries that will need to fill the growth gap are precisely those currently under pressure." Monetary policy may also limit the buffer. The Bank of Korea raised interest rates for the second consecutive month in August, and Chia warned that if monetary policy continues to tighten while chip demand cools, then "this windfall will fade when domestic demand is insufficient to take over." Other more traditional industries are also struggling with the pressure, with automobile exports falling 29.8% year-on-year in August. Chia also stated that factors such as US tariffs and the shift of production to US factories constitute more persistent headwinds.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.2 occurred near Gar County, Ngari Prefecture, Tibet, at 16:16 on September 3. The final result is subject to the official rapid report.The final reading of the UKs August services PMI will be released in ten minutes.On September 3, local time, Ding Xuexiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, co-chaired the 13th meeting of the China-Russia Investment Cooperation Committee with Russian First Deputy Prime Minister Manturov in Vladivostok. Ding Xuexiang offered suggestions for further deepening bilateral cooperation: First, strengthen planning and policy guidance, conduct in-depth industrial alignment and project promotion, and jointly support the deepening and solidifying of investment cooperation between enterprises of both sides. Second, promote the implementation and effectiveness of key projects, effectively leverage their demonstrative role, and continuously enhance the scale and level of investment cooperation between the two countries. Third, expand the breadth and depth of cooperation, continuously consolidate cooperation in processing and manufacturing, engineering and infrastructure, and strengthen pragmatic cooperation in more areas such as green industries and the digital economy. Fourth, strive to resolve outstanding difficulties and problems, properly address the practical concerns of enterprises of both sides, and jointly create a better business environment.

International gold prices rise, the U.S. index is not far from its one-year high; investors wait for two guidelines

Oct 26, 2021 11:02

On Tuesday (October 12), international gold prices rose, and the inflation outlook triggered by soaring energy prices was bullish, and the U.S. dollar index fell. However, under the expectation that the Fed is about to start reducing bond purchases, the US dollar index is still hovering near the one-year high of 94.504 touched last month.

At GMT+8 16:03, spot gold rose 0.19% to US$1757.42 per ounce; the main COMEX gold contract rose 0.10% to US$1757.5 per ounce; the US dollar index fell 0.03% to 94.341.


Market participants are now waiting for the minutes of the Fed’s September 21-22 policy meeting and the consumer price index, both of which will be announced later this week.

Stephen Innes, managing partner of SPI Asset Management, said: “Gold is relatively elastic, and the market is revolving around stagflation and economic growth prospects (arguments).” However, he also said that investors are reluctant to catch up until the minutes of the Fed’s September meeting are released. .

An analyst from ANZ Research said in a report: “In the context of generally low interest rates around the world, the risks surrounding slowing growth and rising inflation will still prompt investors to continue to strategically allocate gold,” adding that they The price of gold is expected to fall back after rising to US$1850 next year.

An ANZ Bank analyst said in a report: “Economy seems to be entering a more challenging cycle. We believe that investors and companies will pay attention to economic data and corporate performance before assessing the short-term situation. ."

Data released on Tuesday showed that Japan’s September wholesale inflation rate was at a 13-year high. Analysts say that rising input costs have added pressure to manufacturers that have been hit by supply restrictions and cast a shadow over the prospects of the world's third largest economy.

Toru Suehiro, senior economist at Daiwa Securities, said: "If the cost of raw materials accelerates, companies selling end products will face the dilemma of profit erosion. Since Japan is a net importer of fuel, this cost-driven inflation may harm the economy. ."

A survey released on Monday showed that British consumer confidence fell to a five-month low in September, as households struggled to cope with rising inflation and a shortage of some goods, which greatly reduced their confidence in their financial health.

In an interview with the Yorkshire Post, Bank of England Governor Bailey said that Britain’s inflation rate above the central bank’s 2.0% target is worrying and must be managed to prevent it from becoming a permanent trend. Earlier, Sanders, a member of the Bank of England’s Monetary Policy Committee (MPC), told the public that as inflationary pressures in the UK economy increase, it is necessary to prepare for a “significantly early” interest rate hike.

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