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September 8th - According to South Koreas *Economic Tribune*, Apple (AAPL.O) and Japans Kioxia have signed a long-term supply agreement (LTA) for NAND flash memory. The reports speculation on the memory market suggests the contract is for three to five years and may have no price cap. This implies that Apple, with its significant bargaining power in memory price negotiations, is prioritizing securing a stable supply of NAND flash memory over cost reduction.Samsung plans to use ASMLs (ASML.O) top-of-the-line lithography equipment for DRAM production by 2028.On September 8th, the Hong Kong Stock Exchange (HKEX) China Opportunities Forum 2026 was held in Shanghai. At the forum, HKEX Group Chief Executive Officer, Chen Yiting, stated that more and more international investors are diversifying their portfolios, focusing on the Chinese market with more certain growth potential, leading to a historic revaluation of Chinese assets. Chen noted that secondary market trading in Hong Kong has remained high this year, with the average daily turnover in the spot market exceeding HK$280 billion in the first eight months, a year-on-year increase of 14%. The Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect have operated steadily, and the derivatives market has also remained active. Regarding primary market financing, as of the end of August, 104 companies have listed on the Hong Kong Stock Exchange this year, raising over HK$340 billion, exceeding the total level for 2025. Meanwhile, the investor structure of Hong Kong stocks continues to optimize, with international cornerstone investors accounting for a high proportion of Hong Kong IPOs in recent years. Furthermore, the source of investors is becoming increasingly diversified, with long-term funds from the Middle East, Europe, North America, and other Asia-Pacific regions continuing to increase, in addition to traditional Asian investors.ASML (ASML.O): TSMC (TSM.N) plans to use ASMLs High-NA technology in mass production at advanced nodes starting in 2030.ASML (ASML.O): The transition to larger 12-inch photomasks is expected to further improve wafer fab production efficiency, reduce chip manufacturing costs, and eliminate splicing limitations.

GBP/USD seeks to regain 1.2300 as higher UK CPI strengthens the case for a rate hike by the Bank of England and the USD retreats

Alina Haynes

Mar 23, 2023 15:00

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During the Asian session, the GBP/USD pair attempts to reclaim the resistance level at 1.2300. Following a vertical correction, the Cable has recovered to near 1.2260 as the market anticipates that the absence of hawkish interest rate guidance from Federal Reserve (Fed) chair Jerome Powell while addressing the economy at the monetary policy meeting indicates that the Fed is close to ending its policy-tightening spell.

 

S&P500 futures have generated some gains in the Asian session following a decline on Wednesday as a result of Fed Powell's confirmation that the fight against intractable U.S. inflation will continue. Chairman of the Federal Reserve Jerome Powell has ruled out rate cuts in 2023, citing the difficulty of controlling inflation. In addition, US Treasury Secretary Janet Yellen's statement that the government "does not plan to insure all uninsured bank deposits" heightened fears of a banking sector collapse.

 

Following a recovery move, the US Dollar Index (DXY) has retreated on expectations that additional credit tightening to protect banking institutions will reduce overall demand, economic activity, and inflation. In the interim, the demand for US government bonds has increased as a result of expectations that US Janet Yellen will end further policy restrictions and reduce support for all bank deposits.

 

On the front of the United Kingdom, the Pound Sterling is likely to maintain its strength as the Bank of England (BoE) is scheduled to raise rates for the eleventh consecutive time. Governor Andrew Bailey of the Bank of England is expected to raise interest rates by 25 basis points (bp) in response to rising food and non-alcoholic beverage prices, as well as rising energy costs, which have contributed to inflation in the United Kingdom.

 

In the midst of global banking turmoil, the Bank of England's (BoE) interest rate decision will be difficult, as policymakers were divided over whether to raise rates further or maintain them at their present level.


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