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On August 13th, MyFT (02556.HK) announced that its revenue for the first half of 2026 was RMB 1.96 billion, compared to RMB 928 million in the same period of 2025, representing a year-on-year increase of 111.2%; gross profit was RMB 886 million, representing a year-on-year increase of 96.5%; net profit for the period was RMB 203 million, compared to RMB 35.82 million in the same period of 2025, representing a year-on-year increase of 466.1%; and adjusted net profit was RMB 213 million, representing a year-on-year increase of 150.9%.On August 13, CK Asset Holdings Limited (01113.HK) released its interim results for 2026. The Group achieved revenue of HK$40.306 billion, an increase of 58.77% year-on-year; profit attributable to shareholders of HK$8.683 billion, an increase of 37.78% year-on-year; earnings per share of HK$2.48; and proposed to pay an interim dividend of HK$0.41 per share.On August 13, CK Hutchison Holdings Limited (00001.HK) announced that for the first half of 2026, the Group recorded a basic net profit of HK$12.592 billion, representing a 6% increase compared to the first half of 2025 in reporting currency. Basic EBITDA and EBIT, calculated in reporting currency, increased by 6% and 5% respectively compared to the same period last year, mainly due to strong performance in the port segment, robust growth in the retail segment, a significant increase in contributions from Cenovus Energy, and favorable foreign exchange fluctuations. For the first half of the year, profit attributable to ordinary shareholders was HK$26.785 billion. On an IFRS 16 basis, reported profit attributable to ordinary shareholders was HK$26.801 billion, with reported earnings per share of HK$7.00. The Board of Directors declared an interim dividend of HK$0.7455 per share to be paid on September 24, 2026.Eurozone industrial production figures for June will be released in ten minutes.Huahong Grace (01347.HK): In Q2 2026, sales revenue from China was US$563.7 million, accounting for 78.6% of total sales revenue, representing a year-on-year increase of 20.0%, mainly due to increased demand for MCUs, flash memory, general-purpose MOSFETs, logic and smart card chips.

Prior to the Release of EU/US PMIs, EUR/USD Pares Its Largest Daily Drop in Three Weeks to Approximately 1.0650

Daniel Rogers

Dec 16, 2022 12:04

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Early Friday morning, EUR/USD demonstrates minor gains near 1.0640 as it retests the intraday high. As a result, the primary currency pair consolidates the steepest daily fall in three weeks while reversing the previous day's retreat from the highest levels in six months prior to the release of important European and American economic data.

 

The aggressive rate hike of 0.50% by the European Central Bank (ECB) propelled the EUR/USD pair to a fresh multi-day high of 1.0736 on Thursday evening. However, predictions of a recession bolstered demand for the US Dollar as a safe-haven currency, submerging the quotation.

 

In spite of this, the ECB's announcement of a 50 basis point (bps) rate increase met market expectations. However, President Christine Lagarde's comments bolstered the optimistic outlook, as she noted, "Information indicates 50 basis points at the next meeting, probably also at the next meeting, and thereafter." In addition, the ECB announced its intention to discontinue the Asset Purchase Program (APP) via gradual Quantitative Tightening (QT).

 

It should be noted that the typically hawkish rate announcements from the major central banks coupled fears of rising inflation and the energy crisis to amplify recession concerns, allowing the US Dollar to enjoy its role as a safe-haven currency despite contradictory facts.

 

In November, US Retail Sales came in at -0.6% month-over-month, compared to 0.1% expected and 1.3% prior. In addition, manufacturing survey findings from the Philadelphia Fed and the New York Fed were dismal for the relevant month, while Industrial Production declined in November and Jobless Claims decreased for the week ending December 9.

 

In response, Wall Street benchmarks fell and US Treasury bond yields increased, allowing the US Dollar Index (DXY) to notch its highest daily gains in 10 weeks. As traders await the first readings of December activity statistics for Germany, the Euro Area, and the United States, S&P 500 Futures and US Treasury bond yields have been flat as of late. The final inflation figures for the Eurozone will also be vital to track.


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