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On January 22, AMEC Semiconductor announced that the restricted shares to be listed and traded this time are 231 million shares from its initial public offering (IPO), accounting for 57.77% of the companys total share capital. The lock-up period is 42 months, and the shares will be available for trading from February 5, 2026. Three shareholders are involved: Yang Yong, Zhou Yan, and Zhou Fei, and all their shares will be listed and traded. Furthermore, the companys controlling shareholder and actual controller, Yang Yong, and actual controllers Zhou Yan and Zhou Fei, have made several commitments regarding share reduction. The sponsoring institution believes that the listing and trading of these restricted shares complies with relevant regulations, and the companys information disclosure is true, accurate, and complete.Occidental Petroleum (OXY.N) CEO: U.S. oil production will decline after 2030.On January 22, Pan Gongsheng, Governor of the Peoples Bank of China, stated in an interview that the bank will improve the basic monetary issuance mechanism, which combines short-, medium-, and long-term policies and has Chinese characteristics, and gradually leverage the role of government bond trading in liquidity management to maintain ample liquidity in the banking system. The bank will also improve the structural monetary policy tool system to better guide and incentivize financial institutions to optimize loan allocation and focus on the "five major tasks" of financial policy. Furthermore, the bank will improve the RMB exchange rate formation mechanism, upholding the decisive role of the market in exchange rate formation, maintaining exchange rate flexibility, and preventing the risk of exchange rate overshooting.On January 22, Pan Gongsheng, Governor of the Peoples Bank of China, stated in an interview that the bank will focus on six key areas, including optimizing the monetary policy target system, particularly intermediate variables, de-emphasizing quantitative targets, and using aggregate financial data more as an observable, referential, and predictive indicator to create conditions for greater role of interest rate regulation. The bank will also improve the market-based interest rate formation, regulation, and transmission mechanism, further facilitating the transmission from the central banks policy interest rate to market benchmark interest rates and then to various financial market interest rates.On January 22, Pan Gongsheng, Governor of the Peoples Bank of China (PBOC), stated in an interview that in 2026, the PBOC will continue to implement a moderately loose monetary policy, prioritizing stable economic growth and a reasonable recovery in prices. The PBOC will leverage the combined effects of incremental and existing policies to create a favorable monetary and financial environment for stable economic growth, high-quality development, and the stable operation of the financial market, providing strong financial support for a good start to the 15th Five-Year Plan. Regarding aggregate policies, the PBOC will flexibly and efficiently utilize various monetary policy tools, such as reserve requirement ratio (RRR) cuts and interest rate cuts, to maintain ample liquidity and ensure that the growth of social financing and money supply matches the expected targets for economic growth and the overall price level. There is still some room for further RRR and interest rate cuts this year. The PBOC will also strengthen the implementation and supervision of interest rate policies to promote low overall social financing costs.

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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