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On its first day of trading, Hong Kong-listed Tianxing Medical (01609.HK) opened at HK$288, a surge of over 192%, compared to its offering price of HK$98.5.On Tuesday, May 5, the Hang Seng Index opened down 150.13 points, or 0.58%, at 25,945.75; the Hang Seng Tech Index opened down 27.58 points, or 0.55%, at 4,949.12; the H-share Index opened down 38.04 points, or 0.43%, at 8,736.35; and the Red Chip Index opened down 8.68 points, or 0.2%, at 4,402.56.Hang Seng Index futures opened down 0.5% at 25,891 points, a discount of 197 points.May 5th - The China Federation of Logistics and Purchasing (CFLP) released the April China Bulk Commodity Price Index today (May 5th). The index showed that, influenced by improved supply and demand in some domestic industries and external factors, the index continued to rise in April, although the increase was narrower than the previous month, indicating that the bulk commodity market remained generally stable and continued its positive development trend. The April China Bulk Commodity Price Index was 132.1 points, up 1.7% month-on-month and 20.2% year-on-year. Among the 50 key bulk commodities monitored by the CFLP, 38 saw month-on-month price increases in April. Paraxylene, methanol, and polypropylene saw the largest increases, rising by 22.4%, 14.5%, and 11.8% respectively compared to the previous month.According to the Wall Street Journal, OpenAI CEO Sam Altman discussed spinning off the company’s robotics and consumer hardware division late last year.

The Dollar Falls And Oil Prices Rise When The Fed Raises Interest Rates

Skylar Williams

Feb 02, 2023 11:50

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The dollar fell as the U.S. Federal Reserve boosted interest rates by 25 basis points, pushing oil prices up in early Asian trade on Thursday.


Brent crude futures increased by 56 cents, or 0.7%, to $83.40 per barrel, while West Texas Intermediate (WTI) crude futures increased by 65 cents, or 0.8%, to $77.05 per barrel.


Wednesday, the Federal Reserve increased its target interest rate by a quarter of a percentage point and reaffirmed its commitment to "continuous rises" in borrowing rates as part of its ongoing fight against inflation.


The U.S. central bank acknowledged explicitly the progress done in reducing the rate of price increases from the 40-year highs reached last year.


A weakening dollar makes oil priced in U.S. dollars less expensive for holders of foreign currencies, hence increasing demand.


The U.S. dollar ended the session at 101.15, down 0.3% against a basket of currencies.


In light of the European Union's February 5 ban on Russian refined products, prices are also rising.


Diplomats said EU governments will seek a consensus on a European Commission proposal to establish price ceilings on Russian oil products on Friday, after postponing a decision on Wednesday due to disagreements among member states.


Last week, the European Commission suggested that, beginning February 5, the European Union impose a price restriction of $100 per barrel on premium Russian oil products such as diesel and a price cap of $45 per barrel on discounted items such as fuel oil.


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