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February 6th - Hong Kong stocks opened lower but rebounded throughout the day, before slightly retreating in the afternoon. At the close, the Hang Seng Index fell 1.21%, and the Hang Seng Tech Index fell 1.11%. New energy vehicle stocks rallied, with NIO-SW (09866.HK) rising nearly 7%, the company expecting to achieve its first profit in the fourth quarter of 2025. Oil stocks fluctuated higher, with PetroChina (00857.HK) and CNOOC (00883.HK) both rising over 1%. Lithium battery concept stocks were active, with Zhongchuang Aviation (03931.HK) rising over 5% and CATL (03750.HK) rising over 1%. Tea beverage stocks saw their gains narrow in the afternoon, with Chabaidao closing up 6.08%. In addition, traditional Chinese medicine, biomedicine, optical communications, coal, and new consumption concept stocks strengthened during the day. Cloud computing, wind power, nuclear power, leading internet companies, non-ferrous metals, building materials and cement, and artificial intelligence concept stocks were weak during the day.The Hang Seng Index closed down 325.29 points, or 1.21%, at 26,559.95 on Friday, February 6; the Hang Seng Tech Index closed down 59.93 points, or 1.11%, at 5,346.2; the H-share Index closed down 61.96 points, or 0.68%, at 9,031.38; and the Red Chip Index closed down 13.6 points, or 0.31%, at 4,360.7.Hong Kong stocks closed with the Hang Seng Index down 1.21% and the Hang Seng Tech Index down 1.11%. New energy vehicle companies, oil, lithium batteries, tea beverages, and traditional Chinese medicine concepts performed well; cloud computing, wind power, leading tech companies, non-ferrous metals, and building materials and cement sectors were among the biggest losers.February 6th - Today, the draft national standard for pre-prepared meals was released for public comment, outlining regulations for pre-prepared meal products from the perspectives of food safety and nutrition. Pre-prepared meals must not use spoiled or rotten ingredients. Pesticide residues, veterinary drug residues, contaminants, and mycotoxins must all meet relevant limits. Proof of origin and traceability of raw materials are essential. The production process of pre-prepared meals requires strict control of cross-contamination risks, along with temperature control and hygiene management. The standard provides detailed regulations on the amount of raw materials or ingredients used in pre-prepared meals and their content in the finished product, allowing consumers to clearly understand the products true condition through the label. The label must indicate the consumption method: pre-cooked pre-processed meals should be labeled "must be heated or reheated before consumption"; uncooked or partially cooked pre-processed meals should be labeled "must be cooked before consumption."Spains seasonally adjusted industrial production fell 0.3% year-on-year in December, compared with a forecast of 2.5% and a revised previous reading of 4.6% (up from 4.50%).

USD/CHF Steady at 1.0020 as DXY Pauses, Powell and US Retail Sales Take Center Stage

Daniel Rogers

May 16, 2022 10:46

The USD/CHF pair is bouncing within a small range between 1.0020 and 1.0030 in early Tokyo, as the US dollar index (DXY) is not gaining much traction due to Monday's light economic calendar. Although broad-based fundamentals continue to favor the dollar bulls, the Federal Reserve (Fed) is projected to raise interest rates by another significant number in June in an effort to limit the inflation issue.

 

Last week, Fed's Powell's interview with the national radio show Marketplace revealed the ongoing conversations among Fed policymakers regarding anticipated rate hikes in monetary policies. Fed Powell indicated that the Fed could declare two additional rate hikes in the next two consecutive monetary policy sessions in order to tame the soaring inflation.

 

In the meantime, the US dollar index (DXY) is poised between 104.46 and 104.60 after reaching a new 19-year high of 105.00 on Friday. The DXY appreciates the broader gains but requires further triggers to maintain strong. In the future, two significant events on Tuesday will keep investors occupied. First will be Fed Chairman Powell's speech, which will likely influence monetary policy action in June. The second significant event is the monthly US Retail Sales report, which is anticipated to increase by 0.7% from the previous reading of 0.5%.

 

In terms of the Swiss franc, Friday's Industrial Production data will be the focal point. The catalyst reached 7.3% the previous time. A greater-than-anticipated number will strengthen the Swiss franc against the U.S. dollar. 

USD/CHF

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