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JPMorgan Chase raised its price target for Marathon Petroleum (MRO.N) from $257 to $300.On July 13th, the Ministry of Civil Affairs and 14 other departments jointly released the "Three-Year Action Plan for Expanding and Improving the Rehabilitation Assistive Device Industry (2026-2028)." Regarding payment guarantees, the plan supports the inclusion of eligible therapeutic rehabilitation assistive devices in medical insurance and explores the inclusion of intelligent services related to long-term care and supportive assistive devices in the long-term care insurance coverage. It also guides and encourages commercial insurance companies to include rehabilitation assistive device configurations in their commercial health insurance reimbursement scope. In terms of industry management, the plan accelerates the revision and formulation of mandatory standards for electric wheelchairs and recommended standards for wearable exoskeletons. Regarding talent cultivation, the plan supports eligible rehabilitation assistive device enterprises and institutions in establishing postdoctoral research workstations and supports universities and vocational schools in offering majors related to rehabilitation engineering and rehabilitation assistive device technology.On July 13, the General Office of the CPC Central Committee and the General Office of the State Council issued an opinion on improving the system for managing natural resource assets. The opinion mentions improving the system for inventorying, statistically analyzing, and accounting for natural resource assets. It calls for integrating and utilizing the results of natural resource surveys, land space monitoring, registration of ownership, grading, and valuation to conduct regular inventories of natural resource assets, clarifying the physical quantity, exploring ways to calculate the value, ascertaining the baseline of natural resource assets, and clarifying the status of usage rights. It also calls for establishing an annual update mechanism for the results of natural resource asset inventories and strengthening the analysis and application of these results. Furthermore, it emphasizes improving the statistical system for all-people-owned natural resource assets, improving the system for compiling natural resource asset balance sheets, and promoting their routine compilation. Finally, it explores the development of natural capital accounting.On July 13, the General Office of the CPC Central Committee and the General Office of the State Council issued an opinion on improving the system for managing natural resource assets. The opinion mentions improving the market system and rules for natural resource assets. It calls for deepening the reform of the paid use system for natural resource assets, establishing and improving rules for the allocation, transfer, leasing, valuation as investment (equity participation), joint ventures, and contracted management of natural resource assets in accordance with laws and regulations, improving relevant natural resource asset allocation contracts, clarifying the rights, obligations, and responsibilities of all parties, and implementing full life-cycle management. It also explores the establishment of a paid use system for state-owned agricultural land. The opinion promotes competitive bidding for mining rights and strictly controls negotiated bidding. It aims to gradually increase the proportion of market-based allocation of sea area use rights. It also aims to cultivate and regulate the water rights trading market. Furthermore, it calls for formulating rules for grading, classifying, and valuing natural resource assets in accordance with laws and regulations, and improving the natural resource asset pricing system. Finally, it emphasizes improving the natural resource asset trading mechanism, strengthening dynamic market monitoring and supervision, establishing a market credit system, and maintaining market order for natural resource assets.On July 13, the General Office of the CPC Central Committee and the General Office of the State Council issued an opinion on improving the system for managing natural resource assets. The main objectives are: by 2030, the system for managing natural resource assets will be more complete, with clearer responsibilities, a clearer picture of asset holdings, stronger overall protection, more efficient asset allocation, and more comprehensive assessment and supervision; all types of natural resource assets and all national land space will be effectively protected, and the level of natural resource asset management will be significantly improved. By 2035, the system and mechanisms for managing natural resource assets will operate smoothly, a complete and systematic system for managing natural resource assets will be fully established, and the level of natural resource asset management will be comprehensively improved.

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.