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According to Kyodo News: Japan is considering providing subsidies to reduce gasoline prices by 10 yen per liter.On April 6, Innosilicon announced that Lin Ming, the companys director, general manager and secretary of the board of directors, plans to reduce his holdings by no more than 1.2 million shares, accounting for 0.2995% of the companys total share capital; Hua Yaping, director, deputy general manager and core technical personnel, plans to reduce his holdings by no more than 1.6 million shares, accounting for 0.3994% of the companys total share capital; and Wu Yenan, supervisor, plans to reduce his holdings by no more than 100,000 shares, accounting for 0.0250% of the companys total share capital. The reduction period is from April 28 to July 25, 2025. The reason for the reduction is the shareholders own capital needs, and the reduction methods include centralized bidding or block trading.On April 6, Jingxue Energy announced that a specific shareholder, Changzhou Tongde Investment Management Center (Limited Partnership), plans to reduce its holdings of the companys shares by 1,080,000 shares, accounting for 1% of the companys total share capital, through centralized bidding within three months after the fifteenth trading day from the date of the announcement. The reason for the reduction is the companys capital needs, and the source of the shares is the shares acquired before the companys initial public offering.Central Bank of Libya: Libyas oil revenue in the first quarter of 2025 is about US$5.2 billion.On April 6, Zhaowei Electromechanical announced that the company plans to issue overseas listed foreign shares (H shares) and apply for listing on the main board of the Hong Kong Stock Exchange. The company will fully consider the interests of existing shareholders and the situation of domestic and foreign capital markets, and choose the appropriate time and issuance window to complete this issuance and listing within the validity period of the shareholders meeting resolution (i.e. 24 months from the date of approval by the companys shareholders meeting or other agreed extension period).

WTI advances toward $75.00 as China-related demand optimism offsets recession fears

Daniel Rogers

Jan 09, 2023 11:55

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In the early hours of Monday, WTI steadily climbs near the intraday high of $74.70 as bullish emotion competes with economic slowdown worries. Despite this, the weaker US Dollar and a light schedule allow buyers of black gold to maintain control following Friday's mixed performance.

 

In spite of this, the risk profile remains elevated in light of China's reopening of its borders after a three-year closure. On the same line, Guo Shuqing, party secretary of the People's Bank of China, made his remarks (PBOC).

 

Reuters, transmitting China unlock news, claimed that "about 2 billion journeys are anticipated this season, roughly doubling the volume of previous year, and recovering to 70% of 2019 levels," citing a statement from the Chinese government.

 

On the other side, PBOC's Shuqing stated, "The world's second-largest economy is likely to recover rapidly due to the country's optimal Covid-19 response and the continued implementation of its economic policies."

 

The US Dollar Index (DXY) fell the most in three weeks the day before, down 0.20% intraday to 103.70 as of press time, as the US employment report failed to excite greenback purchasers and the US activity numbers stoked fears of an economic slowdown. It's worth mentioning that the previous day's disappointing US wage growth, ISM Services PMI, and Factory Orders weighed on Treasury bond yields and the DXY.

 

On a different page, reports regarding a delay in the restoration of the colonial pipeline and the Russia-Ukraine conflict appear to also benefit energy buyers. Traders fear additional rate hikes ahead of the release of the Consumer Price Index (CPI) for December from China and the United States on Wednesday and Thursday, respectively, which tests the positive momentum.

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