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On Wednesday, June 17, the Hang Seng Index opened 1.9 points higher, or 0.01%, at 24,495.85; the Hang Seng Tech Index opened 21.87 points lower, or 0.47%, at 4,636.78; the H-share Index opened 5.35 points lower, or 0.06%, at 8,234.7; and the Red Chip Index opened 9.28 points lower, or 0.22%, at 4,240.87.Hong Kong stocks opened higher, with the Hang Seng Index up 0.01% and the Tech Index down 0.47%. New Oriental (09901.HK) rose more than 2.6%, while China Biopharmaceutical (01177.HK) and Alibaba (09988.HK) both rose more than 1%.Hang Seng Index futures opened 0.16% higher at 24,512 points, a premium of 6 points.June 17th - According to the China State Railway Group, a new train schedule will be implemented nationwide starting from 00:00 on July 1st, further improving transport capacity and efficiency. After the schedule adjustment, 12,174 scheduled passenger trains will be available nationwide, an increase of 106 trains compared to the current schedule. Utilizing the soon-to-be-opened Xian-Xian high-speed railway (Xian East to Shiyan East section), 58 high-speed trains will be scheduled to run from Xian East (Xian North) to Nanyang East, Hankou, Chongqing North, and other destinations, further strengthening connections between Northwest China and Central, South, and Southwest China, and shortening travel time.On June 17th, SK Hynix announced that it will eliminate all educational requirements and launch a rolling recruitment process for entry-level positions. With increasing competition in the AI semiconductor field, SK Hynix stated that it will now select talent based on actual work ability and growth potential, rather than solely on academic background. Previously, SK Hynixs job postings stipulated that "applicants must have at least a four-year bachelors degree." With the removal of this requirement, applicants can apply regardless of their educational background, as long as their work experience, job skills, and fit with the company culture meet the requirements of the position.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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