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On March 7, Goldman Sachs published a research report stating that JD Health (06618.HK)s revenue growth in the second half of last year was in line with expectations, but the adjusted operating profit was lower than forecast. Net profit has also improved due to rising interest or other income. The report mentioned that JD Health managements profit guidance for 2025 is quite conservative, with sales expected to grow by double digits year-on-year and operating profit to remain flat year-on-year, as the company will focus on investing more in offline on-demand delivery and artificial intelligence initiatives in first-tier cities. Operating profit may decline year-on-year due to reduced interest income. In the long run, management is confident in further expanding its share and competitiveness in the online or offline pharmacy market.On March 7, Wang Yi said that we welcome all sectors of the two countries to strengthen exchanges, deepen mutually beneficial cooperation, and improve national sentiments, which are in line with the long-term interests of both sides. Regarding some specific concerns of the Japanese side, China will uphold a responsible attitude and properly handle them in accordance with laws and regulations.SpaceX will conduct a thorough investigation into the explosion and disintegration of the Starships second-stage spacecraft and cooperate with the Federal Aviation Administration (FAA).Hong Kong-listed pharmaceutical stocks strengthened, with Everest Medicines (01952.HK) rising more than 14%, EMTECH (02160.HK) rising more than 8%, and Fosun Pharma (02137.HK) rising 7.4%.Hong Kong stocks rose, the Hang Seng Tech Index turned positive, and the Hang Seng Index narrowed its decline to 0.29%. It had previously fallen by more than 1%.

WTI declines toward $81.00 as hawkish central banks and economic worries compete with OPEC+ rhetoric

Alina Haynes

Sep 30, 2022 10:50

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After falling from the weekly high above $82.50 the previous day, WTI crude oil prices remain under pressure toward $81. In doing so, the black gold represents the oil market's indecision in the face of contradictory signals, while preparing for the first positive week in five weeks.

 

As traders prepare for the key catalysts, recession concerns and fears of a supply shortage received the most attention, but the dollar's weakening may have been overlooked.

 

According to anonymous sources cited by Reuters, the Organization of Petroleum Exporting Countries and its allies, which include Russia and are known collectively as OPEC+, have begun discussing a potential output cut for the next meeting. Russia's willingness to acquire additional portions of Ukraine may have also benefited oil purchasers.

 

In contrast, recession difficulties intensified as the majority of central banks remained assertive despite recent economic gloom and fears of a supply crisis. In addition, the rumors regarding China's inability to control its recessionary difficulties and the United Kingdom's fears of further economic suffering as a result of recent austerity policies appear ominous for the energy benchmark.

 

Consequently, commodity traders are in a quandary and will pay particular attention to the forthcoming September activity statistics from the world's largest commodity consumer, China. After that, the Fed's preferred inflation indicator, namely the Core Personal Consumption Expenditure (PCE) Price Index for August, which is anticipated to increase 4.7% YoY compared to 4.6% previously, will be crucial for determining new directions.