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On August 19th, China Resources Beer (00291.HK) announced in Hong Kong that its unaudited consolidated revenue for the first half of 2026 was RMB24.24 billion, an increase of 1.2% year-on-year; unaudited profit before interest and tax was RMB6.881 billion; and profit attributable to shareholders was RMB5.169 billion, compared to RMB5.789 billion in the same period last year. Net cash inflow from operating activities reached RMB6.729 billion, an increase of 5.6% year-on-year. The Board of Directors declared an interim dividend of RMB0.446 per share, representing a payout ratio of 28%, an increase of 2 percentage points year-on-year.On August 19th, Hong Kong Exchanges and Clearing Limited (00388.HK) announced in Hong Kong that its revenue and other income and profit for the first half of 2026 reached a record high for any half-year. Revenue and other income for the first half of 2026 was HK$16.702 billion, an increase of 19% compared to the first half of 2025. EBITDA margin was 81%, an increase of 2 percentage points compared to the first half of 2025. Profit attributable to shareholders was HK$10.568 billion, an increase of 24% compared to the first half of 2025.August 19th - According to the Financial Times, sources familiar with the matter said that Iran is considering including military targets in Europe in its strike range should Trump escalate the war. The sources indicated that the Iranian military has assessed the possibility of striking US military assets in Bulgaria and other southeastern European countries. The Iranian military has also assessed the option of severing undersea fiber optic cables in the Strait of Hormuz in the event of an escalation.On August 19th, the National Healthcare Security Administration interpreted the "15th Five-Year Plan for Universal Medical Security." The plan proposes to steadily advance the national centralized procurement of medicines and high-value medical consumables, while guiding local governments to establish procurement alliances with "one province leading and nationwide participation." It aims to continuously deepen cooperation in areas such as traditional Chinese medicine, biopharmaceuticals, and medical consumables, gradually including medicines and medical consumables with high clinical usage and inflated prices into the procurement scope to reduce the financial burden on the public. In accordance with the requirements of the Party Central Committee and the State Council, the plan adheres to the principles of "stabilizing clinical use, ensuring quality, combating involution, and preventing bid-rigging," optimizing and improving procurement rules, further enhancing the matching degree between centralized procurement products and clinical needs, colluding with drug regulatory authorities to ensure the quality of selected products, guiding fair and rational competition in the industry, and resolutely cracking down on bid-rigging and collusion in the pharmaceutical centralized procurement field.On August 19th, the National Healthcare Security Administration interpreted the "15th Five-Year Plan for Universal Medical Security." The plan emphasizes vigorously promoting the development of commercial medical insurance. It actively supports and guides the complementary and differentiated development of commercial medical insurance with basic medical insurance, focusing on the diverse needs of the public. It supports commercial insurance companies in enriching their product offerings, with a focus on developing commercial insurance products that primarily cover areas outside the basic medical insurance catalog, offer high levels of coverage, and support pharmaceutical innovation. The aim is to meet the unmet needs of the public beyond basic medical insurance and promote the better supplementary role of commercial medical insurance in the multi-tiered medical security system.

AUD / USD Rises To 0.6640 As Australian Employment Improves

Daniel Rogers

Mar 16, 2023 14:12

As a consequence of the upbeat Employment data from the Australian Bureau of Statistics, the AUD/USD pair has extended its recovery to near 0.6640. The Australian economy added 64,600 new employment in February, exceeding the consensus estimate of 48,500. The Australian economy reported 11.5K unemployment in January. From estimates of 3.6% and the previous issuance of 3.7%, the unemployment rate has been further reduced to 3.5%.

 

The Reserve Bank of Australia (RBA), which is drafting a plan to reduce inflation, will encounter additional challenges as a consequence of positive Australian labor market data. As a larger labor force in action would exacerbate inflationary pressures, RBA Governor Philip Lowe may continue to target higher rates.

 

Earlier, Australian Consumer Inflation Expectations (Mar) data indicated that inflation projections for the next 12 months decreased to 5.0% from the consensus of 5.4% and the previous release of 5.1%.

 

In the meantime, S&P500 futures are showing modest gains during the Asian session, which could be considered a dead cat bounce following the volatility on Wednesday. The debacle of Credit Suisse following the failure of Silicon Valley Bank (SVB) has increased the risk of global banking turmoil. According to one school of thought, the Federal Reserve (Fed) and other western central banks' rapid and precipitous interest rate increases contributed to the collapse of the global banking system.

 

As investors anticipate a less hawkish interest rate decision from the Federal Reserve (Fed) next week, the US Dollar Index (DXY) is looking to extend its correction below 104.60. After a fleeting upswing in January, the United States' inflation has retreated, dampening expectations for a hawkish stance from Fed chair Jerome Powell.


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