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The Hang Seng Index turned positive, with stocks related to chips, PCBs, leading tech companies, and cloud computing performing strongly.June 9th - "Alibaba approached us about building a small nuclear reactor," said an employee of a state-owned nuclear power company. "Alibabas Hangzhou Renhe Data Center has significant power demands." The Renhe Data Center is Zhejiangs first cloud computing data center, providing computing power support for AI companies such as Qiangnao Technology and Lingban Technology.June 9th - At 9:28 AM today (June 9th), the main span of the Chongqi Yangtze River Bridge, the worlds largest span cable-stayed bridge for both road and rail traffic with ballastless track, was successfully closed. This mega-project, spanning the northern branch of the Yangtze River estuary, overcame numerous world-class bridge construction challenges during its construction, showcasing my countrys cutting-edge level of intelligent bridge construction. The Chongqi Yangtze River Bridge is a key control project of the Shanghai-Chongqing-Chengdu Yangtze River High-Speed Railway, a main line of my countrys "Eight Vertical and Eight Horizontal" high-speed railway network along the Yangtze River. It connects Chongming Island in Shanghai and Qidong in Jiangsu Province, with a total length of 4.09 kilometers and a main span of 400 meters, spanning the northern branch of the Yangtze River estuary. The bridge is expected to be open to traffic in 2027.Hong Kong-listed tech stocks fluctuated higher, with Tencent Holdings (00700.HK) rising over 3%, and JD Health (06618.HK), Baidu (09888.HK), Tencent Music (01698.HK), NetEase-S (09999.HK) and other stocks following suit.June 9th - The water level of the Three Gorges Reservoir has recently dropped to 147.78 meters, completing the drawdown task ahead of schedule. This round of drawdown of the Three Gorges Reservoir began in late October 2025, and the water level has been lowered by approximately 27 meters, freeing up flood control capacity of approximately 20.8 billion cubic meters.

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.