• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 9, Morgan Stanley issued a report stating that although the price of Ideal Autos (02015.HK) new L series has not been adjusted, the configuration has been significantly upgraded, which is in line with market expectations overall. However, the market is still discussing whether it is enough to cope with the fierce market competition only through the configuration and autonomous driving (AD) upgrade of the new L series without adjusting the suggested retail price. It remains to be seen whether monthly sales can return to the average level of about 50,000 units in the second half of the year. Morgan Stanley believes that the current market price is about less than 20 times the 2025 forecast price-to-earnings ratio, and the risk-return of the stock is attractive, especially after the release of the new L series on May 8 and the launch of the BEV model this summer. Although weak first-quarter results may become a pressure in the short term, the market has made reasonable expectations for this.On May 9, HSBC Research published a report, expecting Xiaomi (01810.HK) to perform better than expected in the first quarter of this year, with net profit expected to increase 1.39 times year-on-year to RMB 10 billion, mainly driven by a 50% year-on-year increase in IoT revenue, strong electric vehicle sales, and improved profit margins of various businesses. The bank expects the gross profit margins of IoT and electric vehicles to increase from 20.5% and 20.4% in the fourth quarter of 2024 to 23% and 21.4% in the first quarter of this year, respectively, mainly due to higher pricing power and optimized product portfolio. The bank raised Xiaomis target price from HK$70.4 to HK$73.5, maintaining a buy rating; and raised net profit forecasts for 2025 to 27 by 7%, 4% and 4% respectively. It is expected that orders for the electric car SU7 in May will normalize to more than 30,000 units, compared with a peak of 80,000 units in March, and believes that the YU7, which will be launched in June, will boost electric vehicle sales in the third quarter of this year.On May 9, Nomura issued a report stating that Hua Hong Semiconductor (01347.HK) reiterated its neutral rating and raised its target price by 116% from HK$16.4 to HK$35.4 due to strong local demand. However, although the groups pricing conditions have improved, the fixed cost burden may still exist, so the neutral rating is maintained. The report stated that Hua Hong Groups first-quarter revenue was in line with its guidance target, and the gross profit margin of 9.2% was lower than expected. Nomura believed that this may be due to the depreciation of the new plant. Due to the continued demand momentum, management predicts that the second-quarter revenue will increase by 3.5% quarter-on-quarter. Although Hua Hong Semiconductor believes that the price of 8-inch wafer foundry is under pressure (no price reduction yet), due to the shortage of supply, the price of 12-inch wafer foundry is expected to continue to rise. Nomura also believes that this is a good sign for the overall price dynamics of mature node wafer foundry in Asia.On May 9, Swedens Nordic Bank pointed out that the Federal Reserve is waiting for more clarity as risks rise. Both trade policy and the economic outlook are seen as extremely uncertain, and the Federal Reserve wants to wait for clearer results. The market interpreted this information as slightly hawkish and further reduced the possibility of a rate cut at the June meeting. We agree with this change in the market, but expect the Federal Reserve to ultimately focus on supporting economic growth and ignore the temporary rise in inflation. If long-term inflation expectations remain within a controllable range and consistent with the inflation target, the Federal Reserve should be able to ignore the temporary inflation shock caused by tariffs. There is also a possibility that the short-term impact of tariff uncertainty on the economy will be greater than currently expected. But for now, the Federal Reserve believes that the move will have limited impact on the economy, and there are some signs of progress in trade negotiations. Inflation is still above target and is expected to start rising again due to tariffs.Commerzbank plans to apply to the European Central Bank and German financial institutions for the next round of share buybacks at the beginning of the third quarter.

BTC Fear & Greed Index Avoids Fear But Sends a Bearish Price Signal

Alice Wang

Mar 01, 2023 15:41

微信截图_20230301105242.png


Bitcoin (BTC) decreased by 1.53% on Tuesday. Bitcoin gained 0.03% to $23,142 at the month's conclusion after dropping 0.25% on Monday. Bitcoin fell shy of the $24,000 mark for the fourth day in a row following the negative session.


Bitcoin recovered from a turbulent morning to reach a late-afternoon peak of $23,615. Bitcoin fell to a late low of $23,066 after failing to surpass the First Significant Resistance Level (R1) at $23,885. Before finishing the day at $23,142, Bitcoin momentarily breached the First Significant Support Line (S1) at $23,125 to test support.


Fed anxiety and regulatory activity put Bitcoin on the defensive.


On Tuesday, investor confidence suffered from the NASDAQ Composite Index and the cryptocurrency news channels.


Alarm alarms went off when it was reported that the SEC had subpoenaed Robinhood (HOOD).


Speculation that Visa (V) and Mastercard (MA) might rethink their plans for cryptocurrency was also unfavorable. Bitcoin usage continues to be a major price influencer. Growth and price movement in the cryptocurrency market would be greatly impacted by a change in Main Street trader opinion.


Nevertheless, despite dismal US economic data, Fed Anxiety persisted in dampening investor mood. The CB Consumer Sentiment Index dropped from 106.0 to 102.9 in February, and the property industry statistics were also unfavorable.


Despite the disappointing figures, the US labor market is extremely constrained and inflation is still tenacious, backing a more active interest rate track to bring inflation to goal.


To end a negative month, the NASDAQ Composite Index decreased by 0.10 percent on Tuesday. The NASDAQ mini was down 54.5 points this morning.


There will also be curiosity in the Day Ahead Business Indicators. Prior to the US session, China's private sector PMIs will have an impact. We anticipate that China's poor economic data will rekindle recessionary worries and test investors' desire for risky assets.


The NASDAQ Composite Index and US economic data will have an impact on the midday session. The February US industrial PMI figures will be closely watched. It would be negative if the ISM Manufacturing PMI unexpectedly dropped. However, throughout the day, FOMC member conversation will also affect investor interest.


We anticipate that the bitcoin news networks will keep offering guidance. Buyers should keep an eye on the crypto news channels for discussions among US lawmakers and regulation developments. Updates on Binance and FTX as well as information from the current SEC v. Ripple lawsuit need to be taken into account.