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On April 27th, Shijiazhuang Pharmaceutical Group (02005.HK) announced that it has obtained the drug production registration certificate from the National Medical Products Administration of China for diltiazem hydrochloride for injection (10mg), which belongs to Category 4 chemical drugs and is considered to have passed the consistency evaluation. Diltiazem hydrochloride for injection is mainly used for the emergency treatment of supraventricular tachycardia, abnormal hypertension during surgery, hypertensive emergencies, and unstable angina. The Group has also obtained the National Medical Products Administrations approval for propranolol hydrochloride injection (5ml:5mg and 2ml:2mg), which belongs to Category 3 chemical drugs and is considered to have passed the consistency evaluation.On April 27th, according to Tencent Cloud, QClaw released its most significant version update to date (v0.2.14). It officially integrates support for the Hermes framework, allowing users to create and run Hermes-type agents, enabling them to "raise shrimp and horses" within a single application. Simultaneously, QClaw also completed several capability updates in this version: the "Inspiration Square" has been fully upgraded to the "Expert Square," lowering the barrier to entry for users unfamiliar with Prompt. The remote control channel WeChat mini-program has been upgraded to support voice interaction and file sharing with friends. The underlying model has been upgraded from fixed usage to flexible switching, now supporting the latest Hy 3 preview and DeepSeek-V4 Pro. Four new platforms have been added to the connectors: Baidu Cloud, Ctrip, Fliggy, and Tencent News; agent team collaboration functionality based on Tencent Docs has also been launched simultaneously.The Federation of Automobile Manufacturers of Thailand: Thailands automobile exports fell 0.64% year-on-year in March (compared to a 0.05% decline in February).On April 27th, data from the State Taxation Administration showed that in the year since the implementation of the "instant tax refund upon purchase" policy for departing tourists, the number of people applying nationwide has increased by 12.96 times year-on-year, while the sales volume and amount of tax refunds have increased by 9.35 times year-on-year, demonstrating rapid growth in business scale. It is understood that "instant tax refund upon purchase" means that in regions where the departing tourists have implemented the tax refund policy, when purchasing tax-refundable goods at "instant refund" stores, they can sign an agreement and pre-authorize their credit cards to receive a refund in RMB equivalent to the tax amount on-site at the store. The government actively encourages eligible tax refund stores to provide "instant refund upon purchase" services. Currently, there are over 8,000 tax refund stores nationwide offering this service, an increase of over 100% compared to when the policy was first rolled out nationwide a year ago.On April 27th, Kei Fujimoto, an economist at Sumitomo Mitsui Trust Asset Management, stated that the Bank of Japan is expected to maintain its policy rate at 0.75% on Tuesday. However, even if it pauses its actions, it doesnt necessarily mean a further postponement of interest rate hikes. He said, "The Bank of Japan has repeatedly emphasized that financial conditions remain accommodative, and its policy stance still leans towards tightening." The economist added, "If tensions in the Middle East ease and uncertainty decreases even slightly, the likelihood of a rate hike in June or July will increase."

S&P 500 Gains 0.4%, Hits Fresh Three-month Highs Above 4,300 Despite China Growth Worries

Skylar Shaw

Aug 16, 2022 14:58

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Despite concerns about China's growth, indices rise

Major US equity indexes were protected from worries about the future for global economic growth on Monday in the aftermath of dismal July economic activity statistics out of China during the overnight session by a decline in US treasury rates, which boosted rate-sensitive large tech/growth firms. The People's Bank of China, the country's central bank, unexpectedly slashed interest rates to relieve financial conditions in response to the negative economic indicators for China.


A slowdown in China's growth might help quell the inflationary pressures that have compelled the Fed to tighten monetary policy aggressively this year. It could also result in a slowdown in US growth that could discourage future major tightening. Analysts said that recent data that 1) revealed that US pricing pressures had now peaked and 2) indicated that the US economy was still expanding in early Q3 as well as 3) recent better-than-expected company results were all encouraging for stock prices for US equities.


The S&P 500 finished the trading day on Monday up around 0.4%, crossing the 4,300 mark for the first time since May 4 and bringing its run of gains from the lows in the low 3,700s in July to almost 15%. The Dow Jones Industrial Average increased by 0.45% to reach its 200-Day Moving Average for the first time since April 21. The Nasdaq 100 index increased by 0.75% to reach its highest level since late-April in the 13,600s.

Investors Prepare for Heavyweight Retailor Earnings and US Retail Sales Data

Energy, one of the eleven S&P 500 GICS sectors, had the poorest performance, dropping 2.0% after a steep decline in oil prices due to worries about China's consumption. Other than the materials industry, industrial metals prices saw a significant decline. The consumer staples (+1.05%), consumer discretionary (+0.6%), and information technology (+0.6%) sectors outperformed all other sectors in terms of growth. Tesla was the top-performing large-cap stock, gaining 3.1%.


The retail industry will be in the spotlight this week due to 1) the publication of the US Retail Sales numbers for July on Wednesday and 2) the profits from industry giants including Walmart, Target, and Home Depot. Along with a number of other tier 2 data releases this week, including the regional PMIs for August, which will provide an early indication of how the US economy is doing this month, the minutes from the Fed's July policy meeting are also scheduled to be released on Wednesday.