Adani returns from China New Year, CSI 300, New Zealand trade

China ‘could take a decade’ to catch up with advanced chip technology: analyst

As the Netherlands and Japan join the United States in enforcing sanctions, it could take a decade for China to catch up with advanced chip technology, Daniel Newman, founding partner and principal analyst at Futurum Research, told CNBC.Street Signs Asia“Monday.

Two advanced semiconductor equipment makers agreed Friday to join the United States in restricting exports of some chipmaking machinery to China. Bloomberg reported.

A top China supplier is Dutch company ASML, which manufactures the deep ultraviolet (DUV) lithography systems needed to produce more advanced chips.

Its CEO Paul Wennink said China is about 15% Sales in 2022.

“The advanced lithography machines manufactured by ASML are the most advanced in the world. It’s not something that some other company is starting to do. If China really sets its mind to it, it could take decades,” said Newman.

– Sheila Chiang

Subsidiaries of Adani Enterprises Tick Up Group continue to fall

Shares Adani Enterprises It rose 10% after steep losses in the previous session as its chief financial officer expressed confidence in its follow-on public offering, which ends on January 31.

The stock is still down more than 20% in the first month of the year.

Adani Group’s CFO Says ‘Confidence’ in Second Share Sale

Adani Group Chief Financial Officer Jukeshinder Singh said on Monday that he is optimistic Adani EnterprisesA follow-on public offering will be fully subscribed.

A $2.5 billion secondary share sale Concealed by a conduit About $48 billion as share prices of the group’s subsidiaries fell for a second straight session after short-seller firm Hindenburg accused the group of “engaging in a decades-long scheme of brazen stock manipulation and accounting fraud.”

In an interview with CNBC affiliate CNBC-TV18, Singh said that Adani Enterprises’ share price has not changed “simply” because of volatility, but instead in its “ability to incubate new businesses.”

He said Hindenburg’s statement was “simply a lie” and the timing of the statement was “malicious”.

Adani Group released A Long answer Hindenburg’s more than 400-page statement over the weekend said it would exercise its rights to “pursue remedies” to protect its shareholders “before all appropriate authorities”.

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Hindenburg Monday morning called the group’s response “bloated” and said it “ignores every major allegation” against the coalition it raised.

– Jihye Lee

Ahead of the week: China’s PMI release, Federal Reserve meeting

A batch of economic data will be released in the Asia Pacific this week as the US Federal Reserve begins its two-day FOMC meeting on Tuesday. The central bank will announce its interest rate decision on Wednesday after the meeting ends.

When China’s National Bureau of Statistics releases its Purchasing Managers’ Index on Tuesday, economists polled by Reuters expect to see a reading of 49.8, just below the 50 mark that separates growth from contraction.

Japan’s unemployment and industrial production prints are also scheduled for release on the same day. South Korea’s industrial production figures will also be released.

On Wednesday, Malaysia observes a market holiday, while Indonesia is set to release its latest inflation data.

Australia’s building permit print and South Korea’s inflation gauge will be released on Thursday.

On Friday, Hong Kong will release its latest retail sales data.

– Jihye Lee

RBC Capital Markets forecasts that oil will approach $100 a barrel in the second half of 2023.

Oil prices could approach $100 a barrel in the second half of the year, according to Michael Tran of RBC Capital Markets.

“The bottom line here is that China is going to buy a lot of crude oil in the next few months,” he said.

Brent Crude futures were last at $86.85 a barrel, while U.S West Texas Intermediate Futures rose 0.09% to $79.75 a barrel.

Investors and OPEC+ will wait to see if the EU ban on Russian oil products. Kicks off this Sunday, leading to any major disruptions. At the upcoming meeting, the oil cartel is not expected to make any real changes to their quotas or production guidance, Tran predicts.

– Lee Ying Shan

China A shares rise, consumer cyclicals and basic commodities gain

China stocks are entering a bull market after the New Year holidays

China’s CSI 300, which tracks broad-listed stocks, is poised to enter a bull market when trading resumes later in the day.

The CSI 300 rose 19.18% from its low seen on Oct. 31, according to Refinitiv data. It closed its last trading session on January 20 at 4,181.53.

A Bull market A market period is defined as a period in which a stock has risen at least 20% from its recent low.

The ChinaAMC CSI 300 Index ETFTracking the index’s performance, it was last up 23% from its October low.

Stock results rise after a winning week

All major averages gained on Friday.

In the session, the Nasdaq composite rose 0.95% to 11,621.71, while the S&P 500 added 0.25% to 4,070.56. The Dow Jones Industrial Average added 28.67 points, or 0.08%, to end at 33,978.08.

– Samantha Subin

Michigan consumer sentiment index comes in higher than expected

University of Michigan consumer sentiment data for January came in stronger than expected.

January’s reading was 64.9, slightly above the consensus estimate of 64.6 among economists polled by Dow Jones. The index measures the outlook for current and future economic conditions.

– Alex Haring

62% of Friday’s 52-week highs on the S&P 500 were all-time highs

Nearly two-thirds of the 13 stocks on the S&P 500 that hit 52-week highs in early trading on Friday traded at all-time highs. The list expands from the energy/materials/resources focus of recent days. Caterpillar, one of the 13, is also owned by Dow Industrials.

  • Warlord (BWA), Jan. Maximum after 2022
  • Las Vegas Sands (LVS), maximum after June 2021
  • Starbucks (SBUX), Jan. 2022
  • Ulta ( ULTA ), hit an all-time high until its 2007 IPO
  • Win (WYNN), maximum after September 2021
  • Marathon Petroleum (MPC), was at an all-time high until the MRO spinoff in June 2011
  • Arthur J Gallagher (AJG), reached an all-time high until the 1984 IPO
  • Sub (CB), all-time high
  • caterpillar (CAT), the all-time high for a 1929 NYSE listing
  • General Electric (GE), maximum after November 2021
  • TransDigm Group (TDG), hit an all-time high until the 2006 IPO
  • United Rentals (URI), hit an all-time high until the 1997 IPO
  • Steel Dynamics (STLD), hit all-time highs since its 1996 IPO
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Other notable peaks outside the 500:

  • Churchill Downs (CHDN), Oct. 2021
  • Lenor (LEN.B), Jan. Maximum after 2022
  • Nov (NOV), Jan. Maximum after 2020
  • Print capital (AXS), the highest since February 2020
  • Heiko (HEI), the 1960 IPO of all time
  • Night-swift transport (KNX), Jan. Maximum after 2022
  • Lincoln Electric Holdings (LECO), an all-time high for the 1995 Nasdaq listing
  • Allegro Microsystems (ALGM), Jan. Maximum after 2022
  • Fair Isaac (FICO), an all-time high for a 1986 NYSE listing
  • Reliance Steel & Aluminum (RS), an all-time high

– Scott Schnipper, Christopher Hayes

Tesla is having its best week since May 2013

Tesla The stock is up more than 33% this week for its best weekly performance since rising 40.72% in the week ended May 10, 2013.

If Tesla closes at these levels, it will mark the stock’s second-best weekly performance. As of 12:40 p.m. EST, shares were trading about 33.8% higher for the week.

Tesla shares’ gains follow the company’s recent earnings The report, which showed record revenue and earnings beat. Shares rose more than 11% on Friday.

The sharp rise in Tesla’s stock comes after shares plunged 65% in 2022 and had their worst month everQuarterly and Annually.

Tesla’s gains lifted the S&P 500’s consumer discretionary sector by more than 2%.

Tesla is on pace for its best week since May 2013

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