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Thailand’s Planning Department projects GDP growth of 2.0% in 2025 (compared to 1.8%-2.3% in August) and 1.2%-2.2% in 2026, with exports projected to grow by 11.2% in 2025 (compared to 5.5% in August).On November 17th, Reserve Bank of Australia (RBA) board member Mark McKibbin wrote in an op-ed in the Australian Financial Review that the RBA is taking a flexible approach to its dual mandate of maintaining employment and controlling inflation. McKibbin joined the Monetary Policy Committee in March this year, having previously led the RBAs independent review for 2022-2023. This review recommended a comprehensive overhaul of the RBAs operations, including reducing the number of monetary policy meetings, holding press conferences after each interest rate decision, and establishing a governance committee. McKibbin pointed out that recent comments have misinterpreted the reviews recommendations regarding the RBAs dual mandate, and that the positions attacked by critics were never supported by the review. "The claim that inflation and unemployment should be given equal weight is untrue." One recommendation in the review clearly states that "price stability and full employment should be given equal consideration," and the report also clarifies that this does not mean they are weighted equally. "This is not a matter of wording, but a fundamentally different policy framework. Equal consideration means that both objectives must be evaluated in decision-making; while equal weighting means that the two must be mechanically balanced in any situation. We recommend the former, while some criticisms are directed at the latter."On November 17th, Japanese self-driving technology startup Turing raised approximately 15.3 billion yen (about $99 million) from investors including Toyota supplier Denso, highlighting the growing market interest in its artificial intelligence technology. Sources familiar with the matter revealed that the companys valuation nearly quadrupled a year ago after its Series A funding round, reaching approximately $388 million. The company stated in a statement on Monday that the round included a 5.5 billion yen syndicated loan. Turing was co-founded by prominent Japanese AI developer Issei Yamamoto, who rose to fame for his algorithm defeating Japans top-ranked shogi player in 2017. Founded in 2021, the startup aims to build a fully autonomous vehicle system and currently employs approximately 85 people, mostly engineers. In an interview, Yamamoto stated, "The difficulty lies in the technology, not the business model. The message from companies like Denso is that they will actively support mass production once the technology matures."On November 17th, according to Tianyancha App, Chery Automobile Co., Ltd. underwent an industrial and commercial registration change on November 13th, increasing its registered capital from approximately 5.47 billion RMB to approximately 5.81 billion RMB, an increase of about 6%. The company was established in January 1997, with Yin Tongyue as its legal representative. Its business scope includes the production and sales of automobiles and engines. Shareholder information shows that the company is jointly held by Wuhu Investment Holding Group Co., Ltd., Wuhu Ruichuang Investment Co., Ltd., and Anhui Provincial Credit Financing Guarantee Group Co., Ltd., among others.Starry Sky Chinese (06698.HK) shares in Hong Kong experienced a flash crash, falling more than 30% at one point during the session, and are currently down more than 10%.

NASDAQ Index, S&P 500, Dow Jones Analysis – NASDAQ Climbs Back, Dow Jones Supported By Salesforce Performance

Alice Wang

Mar 03, 2023 15:43


S&P 500

After a multi-day decline, speculators purchased equities, and the S&P 500 recovered from session lows.


Traders today concentrated on changes in the Bond market. The yield on 10-year Bonds made an effort to stabilize above 4.08% while remaining above the significant 4.00% mark.


Although rising Treasury rates are negative for equities, it appears that some speculators were ready to take advantage of the recent decline to grow their long holdings.


After surpassing expert expectations and expanding its share repurchase program, Salesforce increased its gains by 11%. Due to its Investor Day falling short of market forecasts, Tesla was one of the largest losses in the S&P 500 today.


From a broad perspective, the crucial issue is whether dealers will be able to disregard the changes in the market for government bonds in the event that Treasury rates keep rising.

NASDAQ

Despite increasing Bond rates, the NASDAQ rose back above the 11,900 mark. It appears that the primary forces behind this move were profit-taking and dip-buying.


NASDAQ needs to stabilize back above the 50 DMA at 11,965 in order to have a chance to build long-term upward momentum. NASDAQ will move toward the next support level at the 20 EMA at 12,145 if it rests above the 50 EMA.

Jones, Dow

Due to the Salesforce stock's impressive showing during today's trading period, Dow Jones made some progress.


The Dow Jones experienced solid support in the 32,500–32,800 range, which is encouraging for bears. The Dow Jones will advance toward the 33,200 level of opposition if it moves above the 33,000 mark.

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