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On May 25th, the highest 7-day annualized yield of Tencent Wealth Managements "Current Account +" was 1.5120%, and the lowest was 0.7120%. The highest 7-day annualized yield of WeChat Pays "Lingqian Tong" was 1.0270%, and the lowest was 0.0030%. The highest 7-day annualized yield of Alipays "Yuebao" was 1.0500%, and the lowest was 1.0000%.On May 25th, at the International Symposium on Circuits and Systems (ISCAS 2026), He Tingbo, Director of Huawei and President of its Semiconductor Business Unit, stated that the Kirin mobile phone chip, slated for release this fall, is the first to adopt logic folding technology, resulting in a significant performance improvement. He Tingbo said, "The Kirin 2026 mobile phone chip represents the first successful implementation of logic folding technology. In the next ten years, we will continue to move towards full folding, and even more layers of folding, continuously optimizing the entire stack performance from devices and circuits to chips and systems."On May 25th, Yu Yuan Tan Tian published an article stating that the nine-year technological competition between China and the US has yielded two conclusions: First, it is impossible for the US to disrupt Chinas technological development through extreme pressure. Over the past nine years, the so-called "decoupling" has even spurred breakthroughs in Chinese technology: the production capacity of mature chip manufacturing processes has continued to ramp up, achieving a historic breakthrough in integrated circuit product exports exceeding one trillion yuan; "bottleneck" technologies are being continuously tackled; and domestic large-scale substitution has been achieved in areas such as chip etching and packaging. Second, cooperation can create space for common development for both China and the US. Today, China and the US are almost simultaneously at the forefront in fields such as artificial intelligence, advanced manufacturing, new energy, and quantum technology. Many issues require joint solutions from both sides.On May 25th, the Chicago Mercantile Exchange Group announced plans to launch a futures market for AI computing power this year. With the demand for computing power experiencing exponential growth, computing power will accelerate its assetization and financialization, potentially evolving from a single product into an ecosystem. In response to questions regarding whether Hong Kong has initiated research and feasibility studies on computing power futures products, the Hong Kong Stock Exchange stated that it currently has no comment on computing power futures and will release relevant information to the market in a timely manner if any becomes available.The Peoples Bank of China announced today that it conducted 258 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 258 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.

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.