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On January 16th, Morgan Stanley expressed optimism about the share price of Dutch semiconductor equipment manufacturer ASML. Analysts at the bank stated that in the most optimistic scenario, as chipmakers increase spending to meet soaring demand from artificial intelligence, the stock could rise by 70%, potentially reaching €2,000. Morgan Stanleys bullish outlook on ASML is further fueled by TSMCs earnings report demonstrating that the AI spending boom has not slowed. ASMLs share price has already risen 25% year-to-date by 2026, and its market capitalization surpassed $500 billion this week, making it the third European company to reach this milestone.On January 16th, Barclays Bank predicted that the Bank of Japan (BOJ) will hold its interest rates steady next week and adhere to its existing forward guidance without making significant adjustments. Barclays noted that given the extremely low real interest rates, the BOJ should "continue to reiterate its willingness to raise interest rates further, based on improvements in economic activity and prices." Furthermore, they pointed out that the sell-off of the yen will also be a factor in the central banks decision.Bank of America: Upgrades European insurance sector rating to equal.On January 16, the Sixth China-ASEAN Digital Ministerial Meeting adopted the "China-ASEAN Digital Cooperation Plan 2026," which specifies the establishment of the China-ASEAN Digital Academy and the China-ASEAN Artificial Intelligence Industry Innovation Center within the year, and the commencement of exchanges and cooperation in areas such as digital and information and communication infrastructure, open source, and digital security. The meeting also adopted the "China-ASEAN Action Plan for Building a Sustainable and Inclusive Digital Ecosystem (2026-2030)," outlining strengthened cooperation between the two sides over the next five years in policy exchanges and strategic alignment, digital infrastructure construction, and the innovative application of emerging digital technologies.According to Hong Kong Stock Exchange documents, Harbin Yuyantang Traditional Chinese Medicine Clinic Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange.

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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