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On January 12th, Hengrui Medicine announced that its subsidiary, Suzhou Shengdiya Biopharmaceutical Co., Ltd., has had its injectable SHR-1826 included in the Breakthrough Therapy Product List by the Center for Drug Evaluation of the National Medical Products Administration. SHR-1826 is an antibody-drug conjugate targeting c-Met. It binds specifically to the target antigen on the surface of tumor cells, is internalized into the tumor cells, and then kills them. A search reveals that a similar product, ABBV-399, received accelerated approval from the US FDA in May 2025 for the treatment of adult patients with advanced/metastatic non-squamous non-small cell lung cancer who have previously received systemic therapy and have high c-Met protein expression. To date, the cumulative R&D investment in the SHR-1826 injectable project is approximately RMB 125.5 million.On January 12th, Sanfangxiang issued an announcement stating that, according to preliminary calculations by its finance department, the company expects a negative net profit attributable to shareholders of the listed company for 2025, resulting in an operating loss for the year. The company will strictly comply with the relevant regulations, including the "Shanghai Stock Exchange Listing Rules," and expedite its financial accounting work, disclosing its 2025 performance forecast as soon as possible. The final financial data will be subject to the companys officially released 2025 annual report.On January 12, Longxun Technology announced that it submitted an application to the Hong Kong Stock Exchange for an overseas public offering of H shares and listing on the Main Board of the Hong Kong Stock Exchange on December 22, 2025, and published the application materials for this offering on the Hong Kong Stock Exchange website on the same day. The company has submitted the filing application materials for this offering to the China Securities Regulatory Commission (CSRC) in accordance with relevant regulations, and the CSRC recently accepted them.On January 12, it was reported that U.S. Immigration and Customs Enforcement (ICE) officers shot and killed 37-year-old Ryan Goode during an immigration enforcement operation in Minneapolis on January 7, sparking days of protests across the United States. On January 11, protests entered their sixth day in Minneapolis, New York, Oakland, Atlanta, and other cities. Residents of Minneapolis stated that this forced immigration enforcement by the federal government was tantamount to "terrorism." Other protesters stated that the U.S. governments attacks on immigrants domestically and its imperialist aggression abroad should both be opposed.January 12 - Mass rallies were held today in several Iranian cities, including Kerman, Zahedan, Rasht, and Hamadan, to condemn the recent unrest in Iran, which they believe is due to foreign interference.

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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