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On September 17, Chery Automobile announced on the Hong Kong Stock Exchange that it plans to issue 297,397,000 H shares (subject to the exercise of the over-allotment option) for its Hong Kong listing, with a price range of HK$27.75 to HK$30.75. The price is expected to be completed on September 23. The shares are expected to begin trading on the Hong Kong Stock Exchange on September 25.September 17th news, Google (GOOG.O) has been trying to catch up with OpenAI in the field of generative artificial intelligence, and now it seems to have finally made progress among users. This week, Googles Gemini application took the first place in the Apple App Store free application rankings, surpassing ChatGPT, which led the generative artificial intelligence craze nearly three years ago. Googles Gemini AI model has recently launched some updates, attracting new users. Last month, Google released an upgraded version of its "Flash" AI model, 2.5 Flash Image, which added an image editing feature called Nano Banana. Josh Woodward, head of the Gemini application, said that this product brought 13 million new users to the Gemini application in just four days, bringing its total number of users since its launch to 23 million.According to Japans Asahi Shimbun: Japan will postpone recognizing the State of Palestine.On September 17th, several major US tech companies announced they would invest over $40 billion to expand the UKs AI infrastructure, a significant boon for the country, coinciding with a state visit from President Trump. Microsoft (MSFT.O) said on Tuesday it would invest $30 billion in UK AI infrastructure and existing operations by 2028, its largest financial commitment yet in the country. Google (GOOG.O) said it would invest approximately $6.8 billion in AI, R&D, and related engineering in the UK over the next two years. Meanwhile, Nvidia (NVDA.O), OpenAI, and British company Nscale are collaborating to build AI infrastructure in the UK to meet OpenAIs computing needs. The project, called "Stargate UK," is expected to be located in northeast England and utilize tens of thousands of Nvidias Grace Blackwell Ultra graphics processing units. Among other investments, AI cloud computing company CoreWeave plans to invest approximately $2.04 billion in AI data center capacity and operations in the UK. Salesforce announced it would invest a further $2 billion in its UK operations by 2030, while BlackRock will pour £500 million into data centers across the UK.On September 17th, local time, it was learned on the 16th that Israels Intelligence and Secret Service (Mossad) deployed 100 foreign agents in Iran at the start of the Israel-Iran conflict in June of this year. Israels Channel 13 reported that day that, according to information disclosed publicly for the first time by the Israeli Mossad, the agency established a "small army" of 100 foreign agents in Iran at the beginning of the Israel-Iran conflict in June of this year. Their mission was to destroy Irans numerous missile launchers and air defense systems at the outset of the conflict. The report said that these agents were well-trained and capable of operating missile systems weighing hundreds of kilograms. These missile systems were smuggled into Iran and used to attack Iranian ballistic missile launchers and air defense missile systems. This was reportedly the largest operation by the Israeli Mossad to date.

What make oil prices down? Should I buy at the bottom right now?

Eden

Oct 25, 2021 14:08

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National Broadcasting Corporation Financial Channel (CNBC) well-known Jim Cramer (Jim Cramer) Cramer predicts that without this agreement, oil prices could rise to $100. "The drop in crude oil prices is actually good news for the overall market...it means that costs for everyone will be reduced," Kramer said.


Influencing factors: COVID cases up

Data show that last Saturday, the number of newly diagnosed cases in the UK in a single day exceeded 50,000, a new high since January. The CDC also severely warned people not to travel to the UK on Monday, and raised the UK's warning level to the highest level: level four-very high.


On the eve of the opening ceremony of the Tokyo Olympics on July 23, the number of cases in the Olympic Village in Japan has continued to increase, and Tokyo has newly confirmed more than 1,000 new crown cases for several days.


Some countries and regions have begun to re-introduce blockade measures. Thailand announced the expansion of areas for epidemic control, and Hanoi, Vietnam implemented a stay-at-home order.


At the same time, although the United Kingdom completely lifted its anti-epidemic restrictions on Monday, the surge in the number of new cases has raised concerns that the United Kingdom may restart the blockade. British Prime Minister Boris Johnson said on Monday that there is no guarantee that the unblocking plan will not be reversed.


Influencing factors: supply up

OPEC+ resolved the deadlock in increasing production last week and eliminated some uncertainties in the market. The organization will gradually increase production by 400,000 barrels per month from August. However, some analysts believe that the increase in OPEC+ production is not enough to fill the market gap. Ed Morse, Head of Commodity Research at Citigroup, said, “Adding 400,000 barrels of crude oil to the market every day will prove to be insignificant. In short, the market is very tight.”


The rebound is not over

Oanda analyst Edward Moya predicts, "The commodity rebound is not over yet, but there may be a major breakthrough here. WTI crude oil fundamentals still support a sharp rise again, and it will only take another month or so to get rid of the ever-increasing hedging. mood."


The market's response to OPEC+'s increase in production may be too pessimistic, because if OPEC+ does not reach an agreement, the alternative results will only be worse. For example, Saudi Arabia and the United Arab Emirates (UAE) are opposed to each other over production quotas. OPEC cannot unite, leading to the breakdown of the production quota agreement and more supply flowing into the market.


Research firm Sankey Research analyst Paul Sankey wrote, “The agreement will eliminate tail risks in the market, especially oil stocks, because if UAE splits from OPEC/Saudi Arabia, it will launch a battle for market share.”


According to the current agreement, supply will remain relatively limited, and OPEC will maintain control. Saudi Arabia has stated that it hopes that prices will remain high, and will act as soon as possible to ensure that this goal is achieved, as long as OPEC can unite.


For oil producers, the current situation is still profitable. Excluding Monday, North American oil and gas producers' stocks have fallen 12% this month. Morgan Stanley analyst Devin McDermott pointed out that although it is still up 50% so far this year, it is still 25% behind the price of commodities themselves since the beginning of 2020.


He believes that "there is room for further catching up because the valuation is still 65% lower than the broader market, and the historical average is 30%." For 10 years, manufacturers' drilling activities have been unprofitable, and corporate strategies can only ignore profits. However, everything has changed this year. In the first quarter, the group generated the highest free cash flow in more than 10 years.


Bank of America analyst Chase Mulvehill wrote that OPEC+'s decision to continue to reduce production in the next few months shows that Saudi Arabia is willing to give up some markets to US producers in exchange for higher prices.


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