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02/09/2022

U.S. Fed officials admitted that they deliberately suppressed the stock market, so that the expectation of a further 3-yard gain in September has greatly increased. Although the international situation is unfavorable for Taiwan stocks, statistics show that a total of 238 listed OTC companies will pay dividends in September, with a total amount of 205.5 billion. Yuan, including 11 companies including Mega Gold, Uni-President, Yongfeng Gold, MSI, Kecheng, etc., the dividend distribution amount is more than 5 billion yuan, and about 2.55 million shareholders will benefit. The dividend red envelope will become the stock market.

Observing the main indicator stocks for dividend distribution in September, many belong to relatively stable companies such as public stock banks and large-scale transmission companies. In addition, the current base period of small and medium-sized stocks is higher, which also allows legal persons to judge and increase the focus after dividends are pocketed. It will switch to financial and property value stocks, which will help stabilize the market.

Cash dividends of more than 5 billion yuan, including Mega Gold, Uni-President, Heku Gold, Huanan Gold, Uni-President Super, Yongfeng Gold, MSI, Kecheng, Taishin Gold, Zhangyin, Licheng, etc. 11 companies. 2.55 million shareholders will receive dividends and bonuses one after another, and it is expected that they will increase their weight in Taiwan stocks.

In an interview with Business Times, Tang Qiguo, associate director of Yushan Investment Consulting Research Department, analyzed that the pace of Fed rate hikes will likely continue until the first half of next year. The US dollar remains strong and the New Taiwan dollar depreciates, resulting in capital outflows. In view of the limited short-term return of international funds , the capital momentum still has to be sought inward, and the interest rate quotation in September has the opportunity to drive the transaction heat up.

Jian Boyi, associate manager of Cathay Pacific Securities Futures Advisory Office, believes that although Taiwan stocks may fall due to lack of capital momentum, judging from the overall structure, many parties still have the upper hand.

01/09/2022

United Nations economists pointed out that the Russian-Ukrainian war "fueled the fire" and kept global food prices high. The global food crisis is not due to shortages, but that prices are unaffordable. In the worst-case scenario, the United Nations forecasts global food prices to rise another 8.5 percent by 2027.

Food prices have been pushed up by supply chain disruptions and climate change issues, and the protracted war between Russia and Ukraine has made food prices extremely high. Arif Husain, chief economist of the United Nations World Food Programme (World Food Programme), pointed out in an interview on the US media CNBC program this week that the Russian-Ukrainian war "fueled the fire" of the global food crisis. He further mentioned that "the food crisis is about affordability, that is, there is no shortage of food, but the price is simply too high."

Ukraine is a major producer of commodities such as wheat, corn and sunflower oil, although the Russian invasion has affected exports around the world. But Hassan believes that the global food crisis is caused by soaring prices, not supply.

According to the United Nations Food and Agriculture Organization (FAO), global food prices rose by 13% in July and will continue to rise. In a worst-case scenario, the United Nations predicts that global food prices will rise another 8.5 percent by 2027.

However, the July global food price index released by the FAO in early August continued to fall to 140.9 from the revised 154.3 in June, the fourth consecutive month of declines. The index fell 8.6% in July, its biggest monthly drop since October 2008.

30/08/2022

The latest released Markit Purchasing Managers' Index PMI shows that the world's major regions are almost miserable!
The initial value of the Eurozone composite PMI in August was announced as 49.2, lower than 49.9 in the previous month; it hit an 18-month low, and it has been below 50 for two consecutive months, which is below the so-called boom-and-bust line! The initial value of the service PMI was 50.2, which was lower than the previous month's 51.2 and hit a new 17-month low; the initial value of the manufacturing PMI was 49.7, which was also lower than the previous month's 49.8, hitting a 26-month low!
The decline in new orders has caused the PMI to fall, and the decline in the PMI represents a continued economic recession, which has created a big problem for the European Central Bank to increase the pace of interest rate hikes! Previously, Pharaoh has analyzed why the European Central Bank has delayed raising interest rates for so long this year, because it does not want to cause a recession in the economy because of raising interest rates. Now that the euro zone has to face soaring natural gas prices, inflation seems to be difficult to cool down; and then it has to face the recession of the economy. Will the European Central Bank aggressively raise interest rates as originally planned, and there is a question mark again?
The initial value of the U.S. service industry PMI in August was 44.1, much lower than the 47.3 in the previous month, a tragic 27-month low! The initial value of the US manufacturing PMI was 51.3, which also continued to decline from 52.2 last month, and hit a 25-month low! The initial value of the composite PMI was 45, and the previous period was 47.7, a 27-month low! The U.S. PMI fell so badly in August, indicating that the operation of the U.S. private sector is worrying, because the market demand has always been suppressed and reduced due to the dual pressure of interest rate hikes and inflation.

26/08/2022

U.S., China Near Deal to Allow Audit Inspection of N.Y.-Listed Chinese Companies

SINGAPORE—The U.S. and China are nearing an agreement that would allow American accounting regulators to travel to Hong Kong to inspect the audit records of Chinese companies listed in New York, according to people familiar with the matter, as the two countries move toward resolving a yearslong standoff.

Securities regulators in Beijing are making arrangements for U.S.-listed Chinese companies and their accounting firms to transfer their audit working papers and other data from mainland China to Hong Kong, the people said.

Regulators from the U.S. Public Company Accounting Oversight Board would then travel to the semiautonomous city to perform on-site inspections of the Chinese companies’ auditors and their records, they added.

The China Securities Regulatory Commission recently informed some accounting firms and companies about the plan, the people said, adding that U.S. accounting inspectors could arrive in Hong Kong as soon as next month. A final agreement can only be reached if the U.S. side determines that it has full access to the audit working papers, they said.

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