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On January 19, China Taiping (00966.HK) announced on the Hong Kong Stock Exchange that the Groups profit attributable to shareholders for the year ended December 31, 2025, is expected to increase by approximately 215% to 225% compared to the same period last year. The profit attributable to shareholders for the year 2024 was HK$8.432 billion.January 19th - On January 15th, Dai Houliang, Chairman of China National Petroleum Corporation (CNPC), met with Canadian Prime Minister Mark Carney in Beijing. The two sides exchanged views on promoting and expanding Sino-gas cooperation.The yield on Japans 40-year government bonds rose to 3.895%, a record high.On January 19th, Peng Yongtao, Director of the Service Industry Survey Center of the National Bureau of Statistics, stated that the service sector contributed 61.4% to national economic growth, an increase of 3.7 percentage points from the previous year; the service sector boosted GDP growth by 3.0 percentage points, an increase of 0.1 percentage points from the previous year; and the service sectors added value accounted for 57.7% of GDP, an increase of 0.9 percentage points from the previous year. In the fourth quarter, the added value of the service sector reached 21,594.8 billion yuan, a year-on-year increase of 5.2%, contributing 63.2% to economic growth and boosting GDP growth by 2.8 percentage points. The service sectors added value accounted for 55.7% of GDP. In December, the service sector production index increased by 5.0% year-on-year, 0.8 percentage points faster than in November.On January 19th, Hong Kong stocks opened lower and continued to decline throughout the morning session. The Hang Seng Index closed down 0.99% at 26,578 points, while the Tech Index closed down 1.15% at 5,755.35 points. On the sector front, airline stocks performed well, while department store and power equipment stocks led the gains, and the tourism and sightseeing sector rebounded. Pharmaceutical outsourcing concepts led the declines, followed by cosmetics and short video concept stocks, and some AI application stocks also fell. In terms of individual stocks, China Eastern Airlines (00670.HK) rose 8.8%, China Southern Airlines (01055.HK) rose 6.5%, Li Ning (02331.HK) rose 4.2%, Mengniu Dairy (02319.HK) rose 3.5%, and Baidu (09888.HK) rose 2.5%; MINIMAX-WP (00100.HK) fell more than 10%, Zhipu (02513.HK) fell 9.8%, Bilibili (09626.HK) fell 7.7%, WuXi Biologics (02269.HK) fell 5.8%, Hua Hong Semiconductor (01347.HK) fell 4.3%, and Alibaba (09988.HK) fell 3.3%.

The AUD/JPY exchange rate fluctuates below 90.00 as investors await BoJ action

Alina Haynes

Jan 18, 2023 15:03

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In the early Asian session, the AUD/JPY currency pair is bouncing violently in a narrow range below the resistance level of 90.00. Before the Bank of Japan introduces its first monetary policy of CY2023, the risk barometer indicates a sideways auction (BoJ). The AUD/JPY exchange rate reflects the consolidation of the AUD/USD, indicating an uncertain risk profile.

 

Investors anticipate that the Bank of Japan (BoJ) will not alter its policy stance on Friday, as doing so would increase financial market risk and hinder efforts to boost inflation. Previously, the Bank of Japan (BoJ) announced that the central bank will review the negative side effects of the decade-long ultra-loose monetary policy, generating the impression that the central bank is eager to abandon the easy policy.

 

The experts at Standard Charted expect the Bank of Japan to hold both the policy balance rate and the 10-year yield goal at their present levels of -0.1% and 0%, respectively. The recent decision to expand the 10-year JGB band to +/-50 bps (from +/-25 bps) will be evaluated by policymakers at the December meeting.

 

The replacement of current Governor of the Bank of Japan Haruhiko Kuroda will be widely followed. The next BoJ governor nominee is anticipated to be presented to the Japanese parliament on February 10, Reuters reported on Tuesday. Amamiya, Nakaso, and Yamaguchi are regarded as leading C.banking candidates.

 

Thursday is the expected publication date for Australian employment statistics, which investors are monitoring. The Unemployment Rate is expected to remain constant at 3.4%, according to the majority of economists. Aside from this, the Australian economy must have added 22,500 new jobs to the labor market in December, a down from the prior rises of 64K.

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