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On May 6th, it was reported that on April 29th, 2026, during the 9th Digital China Summit, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) successfully held a sub-forum in Fuzhou themed "Digital Empowerment of Central Enterprises, Innovation Leading the Future" on enterprise digital transformation. Li Zhen, member of the SASAC Party Committee and Vice Chairman, attended the forum and delivered a speech. Li Zhen stated that the SASAC has thoroughly implemented the decisions and deployments of the CPC Central Committee and the State Council, adhering to policy-driven, organizational-promoted, demonstration-led, and collaborative approaches to deeply advance the digital transformation of central enterprises, achieving positive progress in promoting the digitalization of central enterprise industries and the digitalization of industries. In the future, the SASAC will organize a new round of special actions for digital and intelligent transformation, guide central enterprises in the tiered cultivation of smart factories, strengthen independent innovation in digital technologies, deepen the integration of the digital economy and the real economy, promote the transformation and upgrading of traditional industries, and accelerate the development of new quality productivity.May 6th - According to the National Immigration Administration, during this years May Day holiday, border inspection authorities nationwide handled 11.279 million inbound and outbound passengers, averaging 2.256 million passengers per day, a 3.5% increase compared to last years May Day holiday. The peak day for inbound and outbound clearance occurred on May 2nd, reaching 2.529 million passengers. Among them, 1.255 million were foreigners, a 12.5% increase compared to the same period last year; of the foreigners entering the country, 436,000 were eligible for visa-free entry, a 14.7% increase compared to the same period last year. A total of 531,000 inbound and outbound means of transport (ships, trains, vehicles) were inspected, a 16.6% increase compared to the same period last year.May 6th - Since the end of March, the Philadelphia Semiconductor Index has surged 54%, marking its best 25-day performance since March 2000. Ohsung Kwon, chief equity strategist at Wells Fargo Securities, stated that companies designing, manufacturing, or selling computer chips for high-intensity AI tasks are currently the biggest beneficiaries of large-scale AI infrastructure construction. "Thats the real bottleneck," he said. Kwon indicated that AI trading has entered a healthier cycle, with investors focusing more on monetizing the technology rather than capital expenditure. Last weeks earnings reports from tech giants like Amazon and Google reflected this shift in focus, with traders closely watching whether the massive investments in AI are truly yielding returns. Despite the ongoing AI hype, Wells Fargos sentiment indicator issued a "sell" signal for the first time since November 2021—suggesting that investors should build protective measures for their portfolios after the "sugar rush" in financial markets.Hong Kong-listed AI application stocks showed mixed performance. Meitu (01357.HK) surged over 16%, Kingsoft Cloud (03896.HK) rose over 5%, and Zhixing Technology (01274.HK), Baidu (09888.HK), and Alibaba (09988.HK) all rose over 3%. Meanwhile, 51Vision (06651.HK) fell over 6%, Micro-Robotics (02252.HK) and MyFT (02556.HK) fell over 5.5%, and Xunze (03317.HK) fell over 4%.Hong Kong-listed mainland property stocks continued their upward trend during the session, with China Jinmao (00817.HK) and Yuexiu Property (00123.HK) both rising by more than 6%, Jianfa International Group (01908.HK) rising by more than 5.5%, and China Resources Land (01109.HK), China Overseas Land & Investment (00688.HK), Greentown China (03900.HK), Longfor Group (00960.HK), and many other stocks rising by more than 4%.

USD/JPY falls to 146.00 as the DXY weakens and interest in BOJ policy rises

Alina Haynes

Oct 27, 2022 15:28

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During the Asian session, in response to negative signals from the US dollar index, the USD/JPY pair plunged below 146.00. (DXY). Following Wednesday's low of 146.22, the asset's two-day downward trend has extended. The main index is reaching the bottom of Monday's knee-jerk reaction near 145.77 as it continues to decline.

 

The dollar bears are facing a severe sell-off due to the positive market sentiment. The risk-sensitive currencies have benefited from an increase in risk appetite. The US dollar index (DXY) has struck a new monthly low of 109.56 and is anticipated to stay volatile until the release of crucial US economic data.

 

The increased demand for U.S. government bonds has resulted in a decline in yields. This is due to the global markets' increased confidence. The yield on 10-year United States Treasury notes has decreased to 4%.

 

According to estimates, the Gross Domestic Product of the United States expanded by 2.4% in the third quarter. Despite the ultra-hawkish monetary policies of the Federal Reserve (Fed) and the previously disclosed 0.6% fall in growth, forecasts indicate a positive growth rate.

 

In addition, US Durable Goods Orders data will continue to be a key point. Compared to a reduction of 0.2%, it is projected that economic statistics will increase by 0.6%. Notable is the increase in core inflation, which includes oil and food prices. In spite of this, the predicted increase in demand for durable goods in the United States demonstrates healthy household demand.

 

Investors in Tokyo are anticipating the Bank of Japan's (BOJ) interest rate decision on Friday. In view of the shocks to foreign demand, BOJ Governor Haruhiko Kuroda will continue an ultra-loose monetary policy to stimulate the outlook for economic development. In addition, Japanese policymakers are anxious that the inflation rate could go below 2%; hence, an extremely liberal policy is the best alternative.

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