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On September 22, the Hong Kong Stock Exchange (HKEX) continued to advance its listing mechanism reforms and launched a 10-week public consultation. The consultation document disclosed that the reforms involve simplified arrangements for various listed company transactions and spin-off listings. Following the previous phase of listing mechanism reforms targeting new shares, this second phase focuses on ongoing regulatory requirements for issuers after listing, covering three main areas: disclosable transactions, connected transactions, and spin-offs. The new rules aim to make it more flexible and efficient for Hong Kong-listed issuers to conduct significant acquisitions, sales, and spin-offs of subsidiaries. Under the current Hong Kong Stock Exchange Listing Rules, transactions by listed issuers are categorized according to percentages of assets, profits, revenue, and consideration: transactions reaching 5% but less than 25% are classified as "disclosable transactions," requiring only an announcement; transactions reaching 25% but less than 75% (sales) or 100% (acquisitions) are classified as "major transactions," requiring a circular and shareholder approval; larger transactions are categorized into "very substantial acquisitions" and "very substantial sales."September 22nd - According to a Wall Street Journal survey of ten economists, nine expect the Indonesian central bank to keep its benchmark seven-day reverse repo rate unchanged at 5.75% on Wednesday. One economist predicts the central bank will raise rates by 25 basis points to 6.0%. HSBC economists stated in a report that the stability of the Indonesian rupiah may give the central bank room to hold rates steady at its September meeting. However, oil prices, El Niño, and the dollars performance could pose risks to inflation, the fiscal deficit, and the trade balance, and could weaken the rupiah later this year. HSBC expects the next central bank rate hike to occur in the fourth quarter, bringing the benchmark rate to 6.0%.On September 22, the new generation of Qianwen AI hardware made its debut at the Yunqi Conference, including the Qianwen AI Glasses N1 and N1 Pro, and the Qianwen AI clip-on earphones. Online pre-orders for the three new products opened on the same day, and they will be available for immediate purchase on October 13.European Central Bank Chief Economist Lane: We have not yet seen a second wave of inflation. Rising energy prices will push up food prices, and pressure on the service sector should remain under control. The economy will grow at a stable but moderate pace.European Central Bank Chief Economist Lane: Inflation will be higher than expected and will last longer.

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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