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On January 16, Nomura issued a report stating that it raised Haidilaos (06862.HK) target price by 7.9% from HK$15.1 to HK$16.3, and maintained a "buy" rating. Nomura pointed out that Haidilaos same-store sales pressure in the second half of fiscal year 2024 lies in the high base, and it has better profit margins under cost tailwinds. It is expected that Haidilaos net profit growth in the second half of fiscal year 2024 will be steady at 13% year-on-year. Revenue in the second half of the year increased by 2% year-on-year, benefiting from low single-digit year-on-year growth in same-store sales. On the positive side, Nomura expects Haidilaos average selling price (ASP) to improve by 1 percentage point year-on-year. At the same time, although Haidilao has accelerated the opening of new stores and opened 50 new stores in the second half of 2024, its store expansion rate is worse than expected. Nomura expects Haidilaos operating profit margin to improve year-on-year and on a half-year basis due to cost tailwinds and better operating efficiency.January 16, 2019 - The yen strengthened against G10 and Asian currencies in early trading as expectations of a Bank of Japan rate hike rose. "The Bank of Japan has signaled that it will raise rates at its January meeting," said Marcel Tilliente, head of Asia Pacific at Capital Economics. He noted that Japanese economic data released since the December meeting confirmed that the Bank of Japan is about to raise rates further. Given the Bank of Japans recent market communications, Capital Economics has brought forward its forecast for the Bank of Japans next 25 basis point rate hike from March to next weeks meeting.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Gasoline prices will continue to be lowered.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: Consider expanding Japans disaster prevention budget.The Bank of Japan is said to believe there is a high possibility of a rate hike in January.

Energy Prices Fall As Concerns About Russia's Oil Sanctions Grow

Aria Thomas

Apr 08, 2022 09:22

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Brent oil futures slid 49 cents, or 0.5 percent, to $100.58 a barrel, while West Texas Intermediate (WTI) crude in the United States sank 20 cents, or 0.6 percent, to $96.03 a barrel. Both benchmarks fell more than 5% in the previous session to their lowest closing levels since March 16.


Josep Borrell, the European Union's top diplomat, warned a NATO summit that fresh EU sanctions, including a ban on Russian coal, may be adopted Thursday or Friday, and the group would next consider an oil embargo.


The coal prohibition, on the other hand, would take effect in its entirety in mid-August, a month later than originally anticipated.


"Nobody wants to take the risk of sanctioning Russian energy, which has been propping up the market," said Bob Yawger, director of energy futures at Mizuho.


India has maintained its purchases of discounted Russian crude oil imports, avoiding the loss of 2-3 million barrels of Russian oil per day expected by experts.


"While such a loss is still conceivable after contracts expire and India's refinery or storage requirements are met, such a scenario is still weeks, if not months, away," said Jim Ritterbusch, president of Ritterbusch and Associates LLC in Galena, Illinois.


Multiple outbreaks of the virus in China have triggered significant lockdowns in the country's largest metropolis, Shanghai.


"The demand situation in China is very dire, even more so now that there is so much fresh supply on the market," said John Kilduff, a New York-based partner at Again Capital LLC.


On Wednesday, member nations of the International Energy Agency (IEA) agreed to release an additional 60 million barrels on top of the 180 million barrels promised last week by the United States to help bring down gasoline prices.


Japan's Kyodo news agency stated that the country would release 15 million barrels of oil from public and private stockpiles.


"While this is the largest release since the stockpile was established in 1980, it will ultimately fail to alter the oil market's fundamentals," ANZ bank stated of the US dump.


According to ANZ, the announcement will likely postpone any producer production rises and may provide OPEC+ with further "breathing space despite requests to expand output further."


Other experts saw the stock market's rebound as a significant relief despite worries about market tightening.


"In light of these volumes, prior fears about supply constraints are no longer warranted, as seen by the price trend," Commerzbank (DE:CBKG) stated, adding that Brent prices had fallen by nearly $12 a barrel since the initial indication of a US release last week.


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