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Vland Biotech announced that its wholly-owned subsidiary, Vland Biotech Group, plans to sign an Equity Transfer Agreement with ADM Singapore to acquire a 50% stake in ADM Vland Biotech for RMB 47 million. The civil engineering portion of the microecological preparation research and industrialization project invested and constructed by ADM Vland Biotech has not yet commenced construction since the establishment of the joint venture and remains in the preliminary planning and construction stage. ADM Vland Biotech currently has no substantive production or operation activities.Ankai Bus announced that its production in January 2026 was 761 vehicles, bringing the cumulative total to 761 vehicles, a year-on-year increase of 35.65%. This included 331 large buses (up 23.51% year-on-year), 388 medium buses (up 226.05% year-on-year), and 42 light buses (down 75.86% year-on-year). Sales for the month totaled 458 vehicles, bringing the cumulative total to 458 vehicles, a year-on-year decrease of 18.36%. Sales included 102 large buses (down 54.46% year-on-year), 296 medium buses (up 116.06% year-on-year), and 60 light buses (down 70.00% year-on-year).Shijiazhuang Pharmaceutical Group (02005.HK) announced in Hong Kong that in the follow-up procurement of the first to eighth batches of Chinas national centralized drug procurement on February 10, 2026, a total of 45 of the Groups products are expected to be awarded, covering therapeutic areas such as anti-infectives, cardiovascular system, respiratory system, digestive system, and nervous system. It is expected to have a positive impact on the Groups business.February 10th - WeChats credit card repayment platform officially launched a government subsidy service for credit card installment payments. Seven banks—Agricultural Bank of China, Postal Savings Bank of China, Shanghai Pudong Development Bank, China Merchants Bank, China Minsheng Bank, China Everbright Bank, and China Construction Bank—were initially integrated. Users who apply for installment payments on credit cards from these banks can enjoy a 1% government subsidy. More banks are gradually joining the service.February 10th - Hong Kong stocks continued their strong performance from yesterday, breaking through the 10-day moving average at the open. The Hang Seng Index opened 175 points higher at 27,202, before slightly retreating to 109 points. Subsequently, driven by capital inflows, it surged as much as 370 points to a high of 27,397, before the afternoon rally slowed and the market gradually retreated. At the close, the Hang Seng Index rose 0.58%, and the Hang Seng Tech Index rose 0.62%, with a total turnover of HK$234.04 billion. On the sector front, artificial intelligence continued its strong upward momentum, with film, pharmaceutical outsourcing, and biopharmaceutical stocks leading the gains. Paper and semiconductor stocks rose for the second consecutive day. Highway transportation, education, aviation, tourism, and dairy stocks were weak, while internet healthcare stocks retreated. In terms of individual stocks, Lexin Outdoor (02720.HK) surged over 100% on its first day of trading, CSPC Pharmaceutical Group (01093.HK) rose over 5.5%, and Innovent Biologics (01801.HK) and Pop Mart (09992.HK) both rose nearly 5%; Oriental Selection (01797.HK) fell nearly 10%, New Oriental (09901.HK) fell over 4%, and Haidilao (06862.HK), Longfor Group (00960.HK), and Meituan (03690.HK) all fell over 2%.

GBP/USD to Test 1.2260; Downside Remains Favored Due to Rising US CPI; UK GDP Watched

Daniel Rogers

May 12, 2022 10:13

The GBP/USD pair has broken to the negative from its week-long consolidation between 1.2260 and 1.2400. The asset may test the lower range of consolidation to confirm the bears' strength, but the downside remains intact as rising US inflation data has increased the likelihood of a massive rate hike by the Federal Reserve (Fed) in June.

 

Wednesday's 8.3 percent reading for the US Consumer Price Index (CPI) surpassed the 8.1 percent forecast by theștiindștiind. Market analysts anticipated that the Fed's June monetary policy would include a 50 basis point (bps) interest rate hike in response to the US CPI reading of 8.1%. Now, a higher-than-anticipated US inflation rate has increased the likelihood of a 75 basis point rate hike. This has shook the foreign exchange market, and investors are selling risky assets like there is no tomorrow.

 

In the meantime, the US dollar index (DXY) is trying to maintain its position above 104.00, although the upside remains intact. Regarding the British pound, investors anticipate the announcement of Gross Domestic Product (GDP) figures. The quarterly GDP estimate for the United Kingdom is predicted to be 1 percent, compared to the previous estimate of 1.3%, while the annual estimate is projected to be 9 percent, compared to the previous estimate of 6.6%. A higher-than-anticipated UK GDP may protect the pound from additional losses, whilst a weaker-than-anticipated figure would accelerate the asset's decline.

GBP/USD

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