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Hong Kong-listed sporting goods stocks fluctuated upward in the afternoon, with Anta Sports (02020.HK) up more than 4%, Pou Sheng International (03813.HK) up more than 3.5%, Li Ning (02331.HK) up more than 2.5%, Topsports (06110.HK) and 361 Degrees (01361.HK) both up more than 1.2%.On February 24, Baidu APP launched a new AI portal, integrated the Wenxin big model and DeepSeek model capabilities, and released a new upgraded version. This upgrade integrates intelligent experiences such as "AI search", "full network information extraction", "pinch AI summary", and "digital human intelligent body", achieving a more personalized search experience, richer content services, and broader product boundaries.On February 24, CLP Holdings (00002.HK) announced its annual results. For the year ended December 31, 2024, the companys revenue was HK$90.964 billion, a year-on-year increase of 4.35%; annual profit was HK$12.718 billion, a year-on-year increase of 65.81%; profit attributable to shareholders was HK$11.742 billion, a year-on-year increase of 76.44%, and basic earnings per share was HK$4.65. It is planned to distribute a fourth interim dividend of HK$1.26 per share in 2024.According to Russian media reports, Russian air defense forces destroyed 22 Ukrainian drones at night.February 24th news, todays intraday, the RMB exchange rate against the US dollar rebounded by more than 200 basis points. According to the research report of CICC, the performance of the domestic equity market continues to be positive. If the good stock market sentiment can continue, the slow inflow of cross-border funds will help push up the RMB exchange rate.

USD / NZD Bulls Arrive At The Highs And Apply Pressure Below 0.6250

Daniel Rogers

Mar 02, 2023 16:17

 NZD:USD.png

 

NZD/USD is down roughly 0.27 percent, falling from a high of 0.6257 to a low of 0.6238, wiping out some of the gains made in the middle of the week in reaction to information indicating a recovery in China demand, which raised commodity prices.

 

This came after Australia released a disappointing report, where GDP growth fell to 0.5% quarter-over-quarter from 0.7% earlier and fell short of consensus forecasts of a 0.8% rise. The information raised the chance that the Reserve Bank of Australia would stop raising rates sooner than anticipated, which originally hurt both currencies.

 

However, the kiwi profited from speculative buying after China's non-manufacturing activity expanded at a faster pace in February and the Caixin/S&P Global manufacturing PMI report for last month also exceeded expectations. The offshore yuan rose 1.3% to 6.8683 per dollar, recording its largest one-day rise since late November.

 

The New Zealand currency outperformed most of its peers, according to ANZ Bank analysts, and did well on crosses, especially NZD/AUD. "After the strong German CPI report, the EUR was a strong performer, and the Kiwi followed suit. This trend may have been worsened by stop-loss buying in the NZD/AUD pair because there was no clear NZD catalyst. This may result in muted price action in the coming days.

 

The USD mood is also changing. Bond yields climbed as a result of strong data last week, which caused the DXY to soar. However, last night's solid data dragged on the dollar in a "good news is bad news" way, probably due to worries that the Fed will orchestrate a recession. Is the strength of the NZD a tardy acknowledgment of the economy's resilience and post-cyclone recovery? Has performed admirably."


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