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On February 25, Apple’s official Weibo account announced that the official Apple Developer Account is now officially launched. Apple will provide news, announcements and event updates for the Chinese developer community through this official account.The acting commissioner of the IRS announced his retirement on Tuesday local time.The Hang Seng Tech Index opened low and ended high, turning positive during the session. It fell by more than 4% at the opening in the morning. Auto stocks led the gains, with Li Auto (02015.HK) rising by more than 13%, Xpeng Motors (09868.HK) rising by more than 5%, and Sunny Optical Technology (02382.HK) rising by more than 4%.On February 25, Bank of America Securities published a research report pointing out that Standard Chartered Bank (02888.HK) had mixed performance in the fourth quarter, including the reclassification of US$147 million in deposit insurance, which was also recognized in net interest income, but will be reclassified as cost again from the fourth quarter of 2024. The bank said that based on the good performance of revenue in the fourth quarter of last year and the long-term high interest rate environment, the groups earnings per share forecast for 2025 to 2027 will be raised by 1% to 6%, and the net interest income forecast for 2025 to 2027 will be raised by 8% to 9%. The bank said that it would raise its target price from HK$99.35 to HK$112, and reiterate its rating as underperforming the market.The main contract of the Container Shipping Index (European Line) narrowed its intraday decline to 0.67% and is now reported at 1,862 points, having previously fallen by more than 4.00%.

US Stocks Finish Mixed with NASDAQ Surprisingly Higher Despite Yields Rise

Florala Chen

Feb 15, 2023 16:33

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The main U.S. stock indices ended Tuesday's trading session in a tumultuous trade as investors evaluated the effect of the most recent consumer pricing data on the Federal Reserve's interest rate policy.


The erratic price movement roughly mirrored the January CPI increase but decline in the annual rate reported in the U.S. consumer pricing report. All we could determine at the session's conclusion was that inflation is still high but slowing.


The market seems to have come to the conclusion that the January data did not significantly alter market expectations on the Fed's course for future interest rate rises. This suggests that investors have already priced in two further Fed rate rises for March and June, with the terminal rate of the Federal Reserve coming in at around 5.28% in July.


However, as they rely more on recent economic data and Fed speakers for direction, investors could anticipate more of the same bumpy trading in the future.

The blue chip Dow Jones Industrial Average ended Tuesday's cash market trading at 34089.27, down 156.66 or -0.46%. The tech-heavy NASDAQ Composite closed at 11960.15, up 68.36 or +0.57%, while the benchmark S&P 500 Index ended at 4136.13, down 1.16 or -0.03%.

Gains Are Limited by the Increase in Treasury Yields

On Tuesday, the stock market battled the whole day, with advances perhaps being restrained by an increase in U.S. Treasury rates.


As investors analyzed the most recent consumer price index data and evaluated the Federal Reserve's tightening plan, the yields on the 10-year and 2-year Treasury notes increased. The 6-month Treasury yield rose to 5.022%, the highest level it has ended at or above since July 2007, which was the greatest surprise.

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