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The central parity rate of the Chinese yuan against the US dollar is reported at 7.1702, an increase of 4 points.
On February 17, the central parity rate of the RMB against the US dollar was reported at 7.1702, up 4 points. The probability that the Federal Reserve will maintain interest rates in March is 97% according to CME's "Fed Watch": the probability of keeping rates unchanged in March is 97%, and the probability of a 25 basis points rate cut is 3%. The probability of maintaining the current rate until May is 81%, with a cumulative probability of a 25 basis points cut at 18.5% and a cumulative probability of a 50 basis points cut at 0.5%. Goldman Sachs predicts that the Federal Reserve will cut rates by 25 basis points twice in June and December this year.
Savings Bloodbath as Banks Cut Rates Well Below Inflation
UBS Group: Assigns AIA a "Buy" rating with a Target Price of 91 Hong Kong dollars.
UBS Group released a research report stating a "Buy" rating for AIA (01299) with a target price of 91 HKD. AIA's stock price rose by 5.4% yesterday (13th), and the bank noted several factors behind this. First, competitor PRU (02378) announced a potential spin-off of its Asset Management business in India, estimating an increase in earnings per share by up to 10%, leading some investors to speculate that AIA might take similar actions to unlock value. The bank believes that AIA is focused on consolidating its business foundation to achieve profit growth, generate sustainable cash flow, and return excess capital to Shareholders. Second, based on feedback from some hedge funds, the market may be starting to see a dull position.
UBS Group: gives HUA HONG SEMI a "Neutral" rating with a Target Price of 20 Hong Kong dollars.
UBS Group released a research report stating that HUA HONG SEMI (01347) has a "neutral" rating, with a Target Price of 20 Hong Kong dollars. The bank expects the company's sales growth this year to be 14%, down from the previous forecast of 15%, with the full-year sales growth forecast revised from 13.3% to 12.2%, and net profit forecast reduced from 5.0 million dollars to 2.9 million dollars. The report states that HUA HONG SEMI's sales in the fourth quarter of last year were 0.539 billion dollars, with a quarter-on-quarter growth of 2.4%. Due to a decline in average selling prices and increased depreciation costs, the full-year gross margin decreased by 11.1% compared to the same period last year. In the quarter, the company also suffered due to a loan of 1.5 billion dollars.
Average US Rate on a 30-year Mortgage Eases to 6.87%, Fourth Straight Weekly Decline
JPMorgan Chase, Nomura, UBS to Be Fined by South Korea Over Short-Selling
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