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On January 22, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter from Iraqi Rudao TV asked, "A Syrian Foreign Ministry official stated that the Chinese government has not yet formally requested the Syrian government to repatriate members of the East Turkistan Islamic Movement (ETIM). What is Chinas response to this?" Guo Jiakun responded, "The ETIM is a terrorist organization recognized by China in accordance with the law and listed by the UN Security Council. Syria has pledged not to allow any entity to use Syrian territory to engage in activities that harm Chinas security, sovereignty, and interests."January 22 – Foreign Ministry Spokesperson Guo Jiakun held a regular press conference on January 22. An AFP reporter asked about US President Trumps scheduled signing ceremony for the "Peace Commission" in Davos, Switzerland today, noting that approximately 35 of the 50 invited leaders have accepted the invitation. What is Chinas comment on this? Is China considering participating? "We have already answered the question about the Peace Commission, and we have no further information to add at this time," Guo Jiakun said.On January 22, in response to remarks made by a NATO spokesperson regarding Greenland, Foreign Ministry spokesperson Guo Jiakun stated at a regular press conference that China consistently advocates handling relations between countries in accordance with the purposes and principles of the UN Charter. The so-called "China threat" is baseless, and China opposes fabricating baseless accusations and using China as a pretext for pursuing selfish interests.On January 22, Goldman Sachs issued a research report, raising its earnings forecasts for Hua Hong Semiconductor (01347.HK) by 1% for 2027 to 2029, citing recent signs of price increases. This upward revision is primarily based on a more optimistic revenue outlook (2027-2029 forecasts increased by 1% to 2%). Goldman Sachs expects stronger revenue growth, as demand for specialty technology chips (such as power management ICs and image sensors) will also benefit from growth in AI servers and AI intelligent edge devices. With continued high capacity utilization, the bank anticipates Hua Hong will have more room to optimize its order structure, leading to stronger revenue and profit performance. As a leading wafer foundry in China, Goldman Sachs expects Hua Hong to directly benefit from the demand recovery trend, with its solid gross margin improvement and optimized capacity utilization indicating stronger earnings per share growth potential. The bank reiterated its "Buy" rating on Hua Hong Semiconductor and raised its target price from HK$117 to HK$134.On January 22nd, BOC International issued a research report stating that Pop Marts (09992.HK) share price has been under pressure since the end of 2025 due to market concerns about the waning popularity of Labubu and slowing growth. However, the bank believes that most concerns are an overreaction, and the share buyback program initiated by the company on January 19th should restore market confidence. Furthermore, Pop Marts financial report disclosed that it repurchased 500,000 shares in Hong Kong yesterday. BOC International expects that with the launch of new products, Labubu will remain a key pillar in sales this year, while other IPs will also improve their performance as overseas consumers become more familiar with them. Therefore, the bank still believes that Pop Mart will maintain strong momentum in overseas expansion and expects revenue and net profit to achieve strong year-on-year growth of 32.8% and 37.6% respectively this year, based on a 2026 forecast P/E ratio of 20. The target price was lowered from HK$405.6 to HK$291.9, but the "Buy" rating was reiterated.

Despite the fact that Eurozone interest rates are anticipated to peak sooner, the EUR/GBP looks to have breached over 0.8630

Daniel Rogers

Dec 07, 2022 15:12

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The EUR/GBP pair has had a stronger recovery from 0.8580 during the Asian session, approaching the pivotal 0.8630 level. Despite the European Central Bank (ECB) being close to reaching an interest rate high, there has been strong demand for Euro bulls. Thus, the monetary policy meeting scheduled for next week will be of utmost significance.

 

The cross is attempting to break strongly above the significant barrier of 0.8630 for the fourth time this week. The hawkish remarks made by ECB policymakers are holding back the euro bulls.

 

"There will be another rate hike," said Constantinos Herodotou, governor of the Central Bank of Cyprus, "but we are very near to neutral." The European Central Bank's chief economist, Phillip Lane, is unsure as to whether the inflation peak has already occurred or will take place in 2019. He stated that although "much has already been done," he does not rule out more rate increases.

 

Investors are currently looking forward to Christine Lagarde's speech, which will be revealed on Thursday. The ECB President is likely to lower her inflation projection in her future statement in light of the poor retail sales numbers.

 

In contrast to expectations for a 1.7% loss, this week's Eurozone retail sales numbers showed a 1.8% decline. Aside from that, annual economic data contraction came in at 2.7% as opposed to the 2.6% consensus expectation. A decline in household demand demonstrates the effectiveness of the European Central Bank's (ECB) policy tightening initiatives. To reach their sales targets, firms could feel pressured to lower the prices of their products and services.

 

The United Kingdom's deteriorating food crisis, brought on by growing costs and a labor shortfall, has had an impact on the Pound Sterling. According to Minette Batters, president of the National Farmers Union, "the government and the entire supply chain must act swiftly." The Financial Times stated that "tomorrow might be too late." The economy already faces rising food inflation, and the issue with the supply of food will make matters worse.


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