News

Golden Ten Data reported on March 13 that as the Middle East conflict continues to escalate, Brent crude oil remains above $100 per barrel, and emerging market stocks are heading for a second consecutive week of declines. The MSCI Emerging Markets Equity Index has fallen nearly 2% this week, marking its second straight week of losses and the longest losing streak since mid-October last year. Indonesia's stock market is leading the decline in Asia and is poised to enter a bear market. Deutsche Bank analysts, including Jim Reid, wrote in a report: "The market is clearly increasingly concerned that this conflict could evolve into a longer-lasting confrontation." They pointed out that uncertainty has reignited inflation concerns, driving central bank policy expectations to the most hawkish pricing so far this year. Meanwhile, currencies of countries with higher energy dependence are experiencing intensified declines. The US dollar has risen to its strongest level since early December last year, adding extra pressure on Asian currencies. Both the Indian rupee and the Philippine peso hit historic lows on Friday.

格隆汇 March 13｜Honda Motor (HMC.US), which closed down 5.27% yesterday, continued to fall 1.88% in pre-market trading today, quoted at $25.6. In terms of news, Honda Motor, Japan's second-largest automaker, released a shocking earnings forecast: for the fiscal year 2025 (April 2025 to March 2026), it expects its first annual loss since listing in 1957. Net loss is projected to be between 420 billions and 690 billions yen, while previous forecasts were for a profit of 300 billions yen. In addition, Honda Motor announced the cancellation of the development and market launch of three pure electric vehicle models originally planned for production in North America. Due to multiple factors such as recent changes in the business environment, the company is reassessing its electric vehicle strategy. The company expects the total related costs and losses could reach up to 2.5 trillions yen (approximately $15.73 billions), covering the current fiscal year ending March 31 and the coming years.

Piper Sandler has raised the target price of Murphy Oil from $33 to $41 and upgraded its rating from "Neutral" to "Overweight". (Gelonghui)