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Hong Kong Exchanges and Clearing Limited Chief Executive Officer, Chan Yik Ting: There are approximately 100 IPOs in preparation.On January 22, a few hours after Trump was sworn in as the President of the United States, the new government shut down the Spanish page of the official White House website, which currently displays "404". White House Chief Deputy Press Secretary Harrison Fields responded on Tuesday that the government "is working to restore the Spanish translation of the website." Trump issued a large-scale executive order on Inauguration Day, including launching an action to crack down on illegal immigration. According to estimates by the U.S. Census Bureau in 2023, approximately 43.4 million Americans speak Spanish as their first language, accounting for 13.7% of the U.S. population aged 5 and over. "This sends a signal that we Hispanics are others and a less important part of this country," said brand and communications strategist Monica Rivera.Futures News on January 22: 1. The trading volume of WTI crude oil futures was 1,603,840 lots, an increase of 621,897 lots from the previous trading day. The open interest was 1,867,573 lots, an increase of 10,068 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 275,106 lots, an increase of 130,174 lots from the previous trading day. The open interest was 177,119 lots, an increase of 2,545 lots from the previous trading day. 3. The trading volume of natural gas futures was 657,715 lots, a decrease of 95,928 lots from the previous trading day. The open interest was 1,602,377 lots, a decrease of 15,722 lots from the previous trading day.Masato Kanda, former chief foreign exchange officer of Japan: Excessive foreign exchange fluctuations need to be corrected.On January 22, the Hong Kong-Zhuhai-Macao Bridge Authority learned that during the 2025 Spring Festival holiday, the Hong Kong-Zhuhai-Macao Bridge will waive tolls for small passenger cars with 7 seats or less (including the drivers seat). The specific free period is from 00:00 on January 28, 2025 (New Years Eve) to 24:00 on February 4 (the seventh day of the first lunar month), a total of eight days. Qualified small passenger cars can enjoy the free passage policy through the electronic automatic toll lane (national standard ETC, Hong Kong Autopass users) or the manual toll lane.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Trails on Growth Targets

Alice Wang

Mar 06, 2023 17:13

Market Overview

It was a bullish start to the week for the Asian markets, with the ASX 200 and Nikkei 225 on the move. However, the Hang Seng Index trailed the front runners, with revised growth targets from Beijing testing buyer appetite.

Economic indicators from the US and a shift in sentiment toward Fed monetary policy supported a bullish end to the week for the US markets. The ISM Non-Manufacturing PMI slipped from 55.2 to 55.1, indicating solid service sector activity and a sharp rise in hiring. In February, the ISM Non-Manufacturing Employment Index jumped from 50.0 to 54.0.


However, the numbers failed to fuel more aggressive Fed policy bets, with the talk of slow and steady rate hikes resonating.

Hawkish chatter from the weekend failed to weigh in risk sentiment this morning. On Saturday, FOMC Member Mary Daly spoke of lifting interest rates in 50-basis point increments to tackle inflation.

However, growth targets from Beijing pegged back the Hang Seng Index. China delivered a 5% growth target, below market expectations of 5.5%. The disappointing growth target weighed on the CSI 300, which fell by 0.56% this morning, bucking a bullish market trend.

There were no economic indicators from Asia to distract investors this morning. With US factory orders out later today, the focus will shift to the Fed and Fed Chair Powell’s testimony on Tuesday. A move to a more hawkish posture would catch the markets by surprise.