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According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) repurchased 342,400 shares on August 27, at a cost of HK$55.4 million.According to Hong Kong Stock Exchange filings, HSBC Holdings (00005.HK) repurchased a total of 3 million shares on other exchanges on August 27, at a cost of £45.3 million.Morgan Stanley raised its price target for Marwell Technology (MRVL.O) from $224 to $246.On August 28th, Meituan (03690.HK) announced that its core local commerce segments operating profit increased from RMB 3.7 billion in the second quarter of 2025 to RMB 5.7 billion in the same period of 2026, with the segments operating profit margin increasing by 2.2 percentage points year-on-year to 7.9%. The increase in operating profit and operating profit margin was primarily due to the companys focus on high-quality growth through dynamic optimization of its marketing strategies. The operating loss of the new business segment narrowed from RMB 1.9 billion in the second quarter of 2025 to RMB 1.7 billion in the same period of 2026, with the segments operating loss margin improving by 1.8 percentage points year-on-year to 5.3%. The improvement in both operating loss and operating loss margin was mainly due to improved operational efficiency in the grocery retail business and overseas business.August 28th – It was learned today from the National Data Administration that over 20 computing power scheduling entities have officially joined the National Integrated Computing Power Network Monitoring and Scheduling Experimental Verification Platform, comprehensively enhancing computing power scheduling and operation service capabilities. According to reports, the National Integrated Computing Power Network, as one of the "six networks," is a major project proposed in the "15th Five-Year Plan." The monitoring and scheduling platform is an important component of this project, and currently, 1.45 million PFLOPS (FP16) of intelligent computing power are included in the monitoring scope. Next, the National Development and Reform Commission and the National Data Administration will further promote the construction of the "Eastern Data, Western Computing" project, accelerating the construction of the National Integrated Computing Power Network based on eight national computing power hubs and three computing and power collaborative development regions.

Oil Quiet As Price Cap Suggestion Assists in Relieving Supply Concerns

Skylar Williams

Nov 25, 2022 14:48

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Benchmark Brent oil declined on Thursday, while West Texas Intermediate (WTI) crude remained unchanged, hovering at two-month lows due to uncertainty about the degree to which a proposed G7 restriction on the price of Russian oil would limit supply.


A larger-than-anticipated rise in gasoline inventories in the United States and an expansion of COVID-19 limitations in China also knocked on oil prices.


At 15.15 p.m. ET (2015 GMT), Brent oil prices decreased 29 cents, or 0.3%, to $85.12 per barrel, while U.S. WTI crude futures decreased 2 cents, to $77.96 per barrel.


Due to the Thanksgiving break in the United States, trade volumes were quite low.


The announcement on Wednesday that the expected price ceiling for Russian oil may surpass the current market level triggered a decrease of about 3 percent for both benchmarks.


European Union nations remained divided over what level to cap Russian oil prices to limit Moscow's ability to pay for its battle in Ukraine without causing a global oil supply shock; if positions converge on Friday, more conversations are possible.


A European official claimed that the G7 is discussing a cap of $65-$70 per barrel for Russian oil transported by sea, but European Union member states have not yet reached an agreement on a price.


A higher price ceiling might encourage Russia to continue selling its oil, decreasing the possibility of a global oil supply shortage.


According to two sources, several Indian refiners are discounting Russian Urals crude by between $25 and $35 per barrel compared to the worldwide benchmark Brent oil. Urals is Russia's principal crude export.


Despite the obstacles, Bart Melek, global head of commodities market strategy at TD Securities, is rather optimistic about oil. "The Russian price ceiling is another aspect that contributed to the current price fall," he stated.


The Energy Information Administration (EIA) said on Wednesday that gasoline and distillate inventories in the United States climbed substantially during the previous week. [EIA/S]


In contrast, oil stockpiles decreased by 3.7 million barrels to 431.7 million barrels in the week ending November 18, despite a Reuters survey predicting a reduction of 1.1 million barrels.


China reported the highest daily number of COVID-19 cases since the outbreak began over three years ago on Wednesday. Local officials intensified measures to remove the breakouts, raising investor anxiety over the economy and demand for fuel.

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