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According to RIA Novosti: Russian Deputy Foreign Minister Ryabkov said that after the Russia-US talks, he still did not quite understand the meaning of Trumps Ukraine peace plan.Hong Kong-listed domestic real estate and property management stocks rose in the afternoon, with China Resources Vanguard Life (01209.HK) up nearly 8%, New Town Joy Service (01755.HK) up more than 5%, Yongsheng Service (01995.HK), Binjiang Service (03316.HK), China Overseas Property (02669.HK), Greentown Service (02869.HK), and KWG Living (03913.HK) all up more than 3%.Iran set the price of Iranian Light crude oil sold to Asia in March at a premium of $4.35 per barrel over the Oman/Dubai average price.According to a report by CICC on February 24, Bilibili (09626.HK)s revenue in the fourth quarter of last year increased by 22% year-on-year to RMB 7.73 billion, in line with expectations, and non-GAAP net profit was RMB 453 million, slightly higher than expected, mainly due to higher-than-expected other income. The bank maintains its forecast for the companys non-GAAP net profit for this year and next year. Taking into account the increase in the industrys average valuation and the companys improved earnings, it raises the Hong Kong stock target price by 16.7% to HK$203 and the US stock target price by 16.1% to US$26, maintaining its outperform rating.On February 24, Goldman Sachs research report pointed out that Ideal Auto (02015.HK) delivered 159,000 new energy passenger vehicles in the fourth quarter of last year, a year-on-year increase of 20% and a quarter-on-quarter increase of 4%. However, due to the lack of new models, the companys market share in the mainlands new energy vehicle retail market has dropped from 5% in the third quarter of 2024 to 4.1%. The bank expects the companys total revenue in the fourth quarter to be RMB 44 billion, a year-on-year increase of 5% and a quarter-on-quarter increase of 2%. Among them, automobile revenue will increase by 4% year-on-year to RMB 42 billion; the average selling price will fall by 13% year-on-year to RMB 266,000. At the same time, the total gross profit during the period is expected to be RMB 9.6 billion, a year-on-year decrease of 2%; the gross profit margin is 22%, a year-on-year decrease of 1.5 percentage points. The bank raised its net profit forecast for the company in 2024 by 10% due to better cost management, and lowered its net profit forecast for this year and next year by 4% to 6% due to lower sales and delivery volumes. The bank raised the companys H-share target price from HK$131 to HK$137 and maintained its buy rating.

Crypto Market Daily Highlights: XRP Led a Choppy Top Ten Session

Jimmy Khan

Feb 23, 2023 16:01

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It was a mixed session for the crypto top ten on Wednesday. XRP led the way, with BNB, DOGE, and MATIC bucking the bearish trend. The mixed session left BTC short of the $25,000 handle for the second time in seven sessions.


On Wednesday, the heavily anticipated FOMC meeting minutes drew plenty of interest. Less hawkish than expected, the broader crypto market cap responded to the minutes with a late partial recovery.


There were no surprises, with the minutes noting that inflation remained well above the Fed target and that labor market conditions are still very tight, contributing to the upward trend in wages and prices.


However, the markets were mindful of the shift in sentiment toward the US economy, labor market conditions, and inflation since the last FOMC meeting. The US unemployment rate fell to 3.4%, spending rebounded, service sector activity surged, and inflation remained sticky, questioning Fed Chair Powell’s disinflation view.


Mixed sentiment toward the minutes left the Dow and the S&P 500 with losses of 0.26% and 0.16%, respectively, while the NASDAQ Composite rose by 0.13%.


It was also a busier session on the crypto news wires. New York Attorney General filed charges against CoinEx for failing to register as a securities and commodities broker-dealer. NFTs were in the spotlight, with a Federal Judge ruling that NBA Top Shot NFTs could be unregistered securities.

The Day Ahead

In the afternoon session, US economic indicators and the NASDAQ Index will likely provide direction. Initial jobless claims and Q4 GDP numbers will be in the spotlight. An unexpected fall in jobless claims and a hotter-than-expected US economy could fuel Fed Fear.


Investors should also monitor Fed chatter. FOMC member Bostic speaks today. Following the FOMC meeting minutes, investors may need more up-to-date guidance on where the Fed stands vis-à-vis inflation, the economic outlook, and interest rates.


However, the crypto news wires also need tracking for events that could move the dial. Binance will remain a focal point, with FTX, Genesis, and Silvergate Bank updates needing consideration. However, regulatory activity and US lawmaker chatter will remain the key drivers.


The NASDAQ mini was up 69.5 points this morning, supporting the crypto market in the final hour.


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