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Citigroup Newsroom
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Headline from the foreign market: Several Federal Reserve officials have spoken, suggesting that interest rates may remain unchanged for some time. Citigroup has raised its expectations for Brent Crude Oil Product prices in the first quarter.
The main headlines that Global financial media focused on last night and this morning include: Several Federal Reserve officials have indicated that interest rates may remain unchanged for a period of time. Multiple Federal Reserve officials confirmed that interest rates may be maintained at the current level for a long time and will only be cut again if inflation significantly cools. Boston Fed President Susan Collins stated that, given the "substantial uncertainty" in the economic outlook faced by Federal Reserve officials, there is reason to slow the pace of rate adjustments. This view was echoed by other Fed presidents and Federal Reserve Governor Michelle Bowman.
Citi has given YONGDA AUTO a "Buy" rating, with the Target Price adjusted to 2.82 Hong Kong dollars.
Citibank released a research report stating that the Target Price for YONGDA AUTO (03669) has been lowered from 2.98 HKD to 2.82 HKD, with a rating of "Buy." Given that the gross margin of new car sales for YONGDA AUTO in the second half of last year was below expectations, coupled with weak used car sales, the bank has revised its Net income forecasts for 2024 to 2026 down to 0.205 billion, 0.645 billion, and 0.818 billion yuan, respectively, with the gross margin forecast also revised down from 8.7%, 9.2%, and 9.6% to 8.5%, 9.1%, and 9.5%. The bank expects that YONGDA AUTO's new car sales in the fourth quarter of last year grew by 30% quarter-on-quarter.
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Citigroup: It is expected that the Indian stock market will rise by 10% in 2025.
Citigroup expects that driven by economic growth recovery and strong corporate earnings, the Indian stock market, valued at $5 trillion, will rise for the 10th consecutive year. This Brokerage has set a target of 26,000 points for the benchmark NSE Nifty 50 Index, which implies a 10% increase from the closing price on December 31. The Index is expected to close at approximately 5% higher than the Wall Street Banks' forecast of 22,500 points in 2024. Strategists, including Surendra Goyal, stated in a report: "Given the diversity of listed companies, India's EPS.
Citi: Downgraded XINYI GLASS's Target Price to HKD 7.55, rating lowered to 'Neutral.'
Citi released a research report stating that the forecast for XINYI GLASS (00868) Net income for the fiscal years 2024 to 2026 (excluding Exchange Rates adjustments) has been revised down by 35% to 40%. The Target Price has been lowered from 9.6 HKD to 7.55 HKD, and the rating has been downgraded from 'Buy' to 'Neutral'. The bank updated its forecasting model, changing XINYI GLASS's presentation currency from HKD to RMB and factoring in the profit warning. The bank's China Real Estate team expects that the completion volume in Real Estate this year will decline by 13% compared to the same period last year, along with a more conservative medium to long-term assumption.
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Citigroup Options Spot-On: On January 7th, 148K Contracts Were Traded, With 2.23 Million Open Interest
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