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Russian Deputy Foreign Minister Ryabkov: Whats important now is how Washington can influence decision-making in Kyiv and Europe.Indias preliminary composite PMI for August was 54.6, below the expected 54.4 and the previous reading of 54.3.Indias preliminary services PMI for August was 54.5, below the expected 53.8 and the previous reading of 53.3.Indias preliminary manufacturing PMI for August was 52.9, below the expected 54 and the previous reading of 53.5.On August 21st, Bank of America Securities issued a report stating that Pop Marts (09992.HK) half-year results fell short of expectations. The bank lowered its adjusted earnings per share forecasts for 2026/2027 by 22%/24%, and its target price by 4% from HK$160 to HK$153. Bank of America forecasts adjusted net profit of RMB10.65 billion for fiscal year 2026, implying a 36% year-on-year decline in the second half. The current price represents a forward P/E ratio of approximately 13 times for 2026, close to historical lows, and the compound annual growth rate of adjusted net profit from 2025 to 2028 is only in the low single digits, making the valuation seem reasonable. Therefore, the bank maintains a "neutral" rating and believes that the downside potential for the share price is limited. Key supporting factors include: 1) a share buyback plan of RMB2 billion to RMB5 billion over the next six months (equivalent to 1.1% to 2.8% of market capitalization); 2) a reduced impact of exchange rate losses in the second half of the year (exchange rate losses in the first half were approximately RMB700 million); and 3) the increase in shareholding by prominent investor Duan Yongping to 7.7%, which may provide support for market sentiment. Overall, the bank believes that the risk-reward ratio is roughly balanced between the current growth pains and the long-term prospects.

S&P 500 Price Forecast – Stock Markets Continue to Worry About Rates

Jimmy Khan

Feb 22, 2023 16:31


Technical Analysis of the S&P 500

The S&P 500 E-mini contract started overnight trading poorly and hasn't been making a lot of sense. Yet, the contract's high level of volatility persists, and as a result, downward pressure is beginning to build. It's important to note that the 200-Day EMA and the 50-Day EMA are located immediately below. Given that they are both rather flat, there may not actually be any momentum.


As it is slightly above the psychologically and structurally significant 4000 level, this may pave the way for a support level to develop in that approximate area. You must keep in mind that earnings season is now underway because it could cause the market to fluctuate. The moving averages and the psychologically significant 4000 level, if we were to break down below them, might drive the futures market and the index itself significantly lower.


It thus creates the chance of a decline down to the 3900 level, where we had experienced some buying pressure. Following that, there comes the 3800 level, which is considerably more significant and will get a lot of attention. When it comes to whether or not the market can save itself, we would be in that general area hanging on by a thread.


The previous two candlesticks have undoubtedly looked pretty bearish, and I think that may have some momentum built up in it. If the market were to flip around and bounce, then it may try to move towards the 4200 level. The minutes from the Federal Open Market Committee meeting, which are released on Wednesday, will undoubtedly also be relevant. This ought to provide traders a good indication of what the Federal Reserve members discussed during the meeting and whether or not there is an overall hawkish mindset or if there are any ice cracks appearing. This will have a significant impact on the market.

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