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On May 26th, Honghui Fruits & Vegetables announced that its wholly-owned subsidiary, Shanghai Tenghui, has completed its capital increase and business registration change, raising its registered capital from 20 million yuan to 500 million yuan. As the acquiring entity, Shanghai Tenghui paid the first installment of 210 million yuan (30%) for the share transfer of Shimei Pharmaceutical on May 19th. Shimei Pharmaceuticals shareholder register was changed, with Shanghai Tenghui holding 41.128% of the shares. Share pledge registration was completed on May 21st, and the second installment of 140 million yuan (20%) was paid on May 22nd. Upon completion of the restructuring and appointment procedures, the company will achieve substantive management and consolidated financial control of Shimei Pharmaceutical.On May 26th, Ingenic Semiconductor (03696.HK) announced that, based on the Hang Seng Indexes Companys index review results for the first quarter of 2026, the company will be included in the Hang Seng Biotechnology Index. This inclusion will be implemented after the market closes on June 5, 2026, and will take effect on June 8, 2026. The Hang Seng Biotechnology Index aims to reflect the overall performance of the 30 largest biotechnology companies listed in Hong Kong and eligible for the Stock Connect program. The Board believes that this inclusion fully reflects the capital markets recognition and confidence in the companys long-term development potential, and will help broaden the investor base and improve trading liquidity.On May 26th, Miniso (09896.HK) announced that for the three months ended March 31, 2026, the Groups revenue was RMB 5.688 billion, a year-on-year increase of 28.5%; net profit was RMB 1.248 billion, a year-on-year increase of 199.7%. Operating profit was RMB 1.521 billion, a year-on-year increase of 114.3%, with an operating profit margin of 26.7%. The total number of stores reached 8,565, a net increase of 797 stores year-on-year, including 8,210 Miniso brand stores and 355 TOPTOY brand stores.According to Nikkei Asia: European Central Bank Chief Economist Lane said there is no need to correct market speculation about a June rate hike.On May 26, the State Council Information Office held a regular policy briefing to introduce the "Implementation Opinions on Promoting the Provision of Basic Public Services in Places of Residence" and answer questions from reporters. Zhang Lixin, Director of the Planning and Finance Department of the Ministry of Human Resources and Social Security, stated that regarding employment assistance, eligible permanent residents will be promptly identified as having employment difficulties in accordance with regulations. Targeted job assistance will be provided to zero-employment households to ensure that zero-employment households are dynamically cleared.

NZDUSD consolidates near 0.6100, closing below Friday's two-month peak

Alina Haynes

Nov 14, 2022 18:54

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The NZDUSD pair struggles to capitalize on last week's breakthrough momentum through the 100-day Simple Moving Average, bouncing between moderate gains and slight losses throughout Monday's early European session. The pair is currently trading slightly below the 0.6100 level, practically flat on the day, and remains close to Friday's two-month high.

 

A convergence of variables permits the US Dollar to stabilize at its lowest level since mid-August, acting as a headwind for the NZDUSD pair. In response to Christopher Waller's more hawkish remarks on Sunday, U.S. Treasury bond yields rise. It is expected that this, along with a softer tone on equity markets, will benefit the safe-haven dollar and exert some downward pressure on the risk-averse New Zealand dollar.

 

Waller indicated during a conversation in Sydney, Australia, that the markets had overreacted to October's weaker-than-expected consumer price inflation numbers. Waller stated that the Federal Reserve was not lessening its fight against inflation and that a string of moderate CPI readings would be required for the US central bank to soften its approach. This increases US Treasury bond yields and helps support USD demand, notwithstanding the lack of confidence in the intraday rise.

 

A greater possibility that the Federal Reserve will slow the pace of its policy tightening discourages USD bulls from placing risky trades. Moreover, optimism surrounding a likely rollback of COVID-19 measures in China supports the NZD/USD pair and restricts its downside. Therefore, the subdued intraday price movement can be characterized as a bullish consolidation phase, meaning that any significant pullback is likely to be purchased and remain confined.

 

The United States is not slated to provide any market-moving economic data on Monday, leaving the USD at the mercy of US bond yields. Traders will also consider Lael Brainard's anticipated Fed governor address. Together with the broader risk sentiment, this will be analyzed for short-term trading opportunities in the NZDUSD pair prior to the release of Chinese economic data on Tuesday.

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