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On June 5th, at the Tencent Cloud AI Industry Application Conference, Tencent Senior Executive Vice President Tang Daosheng stated in a dialogue with Tencent Chief AI Scientist Yao Shunyu that most of Tencents code this year was generated by AI. Tencents engineers may spend more time on architecture design, etc., while they have delegated the coding work to AI, regularly guiding and correcting the AIs code.The Hang Seng Tech Index weakened and fell by more than 1%, with Lenovo Group (00992.HK) leading the decline among constituent stocks, falling by more than 4%. The Hang Seng Index is currently down 0.61%.On June 5th, the National Healthcare Security Administration and the Ministry of Finance jointly issued a notice titled "Trial Procedures for Cross-Provincial Sharing of Individual Accounts under Basic Medical Insurance for Employees," standardizing cross-provincial sharing of individual accounts under basic medical insurance for employees. The notice stipulates that cross-provincial sharing applies to the close relatives of employees enrolled in basic medical insurance, and the person being shared must be an insured individual under basic medical insurance. Close relatives include spouses, parents, children, siblings, grandparents, maternal grandparents, grandchildren, and maternal grandchildren. The sharing provider sets a sharing limit for the person being shared through their medical insurance wallet; the sharing provider cannot use this limit of their individual account funds. The person being shared cannot share the acquired sharing limit with a third party. Eligible expenses incurred by the person being shared can be settled through the sharing mechanism.According to the Wall Street Journal: Real-time satellite intelligence has made Ukrainian drone attacks more deadly than ever before.According to the Wall Street Journal, sources say a Ukrainian team used satellite intelligence to destroy billions of dollars worth of Russian assets.

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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