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UBS has recommended clients to go long on the USD/CNY pair ahead of Donald Trump's inauguration, anticipating increased volatility due to potential tariff plans targeting China. The bank expects the yuan to weaken further, with a target of 7.50 and a stop-loss at 7.20, as domestic economic fundamentals remain vulnerable. Current trading shows USD/CNY at 7.3289.
UBS has advised clients to go long on the USD/CNY pair ahead of Donald Trump's inauguration, anticipating increased volatility due to potential tariff risks. The bank expects the yuan to weaken as Trump finalizes his tariff plans, targeting a move toward 7.50 with a stop-loss at 7.20. Current trading shows USD/CNY at 7.3289.
GAC Group has established the GH Project Company with a registered capital of 1.5 billion yuan to launch a new automobile brand in collaboration with Huawei. The partnership aims to develop intelligent new energy vehicles, with the first model priced around 300,000 yuan, while GAC Group also focuses on internal transformations and plans to introduce 22 new models under its own brands by 2027.
GAC and Huawei have established a joint enterprise in China, temporarily named "GH Project," with a registered capital of 1.5 billion Yuan (approximately $205 million). The venture aims to produce a part-electric car priced around 300,000 Yuan ($40,000), following the unveiling of a concept car last September. The new factory will eventually be integrated into Huawei’s HIMA infrastructure.
US Treasury Secretary-nominee Bessent faced scrutiny during confirmation hearings, particularly regarding his views on trade taxes and currency appreciation, which lack recent evidence support. Meanwhile, China's reported 2024 GDP growth of 5% aligns with its target, though analysts suggest the figures may be inflated. In the UK, December retail sales showed weak food store performance, contrasting with strength in other sectors, indicating consumer behavior may not be as cautious as expected.
Honor CEO Zhao Ming has resigned due to health issues, with former Huawei executive Li Jian appointed as his successor. Under Zhao's leadership, Honor became a leading mobile phone brand in China and Russia, despite challenges following US sanctions on Huawei. Li Jian's extensive experience in strategic management is expected to guide Honor's future growth.
Apple has lost its position as the top smartphone seller in China, overtaken by Vivo and Huawei, following a 17% decline in shipments in 2024. The company's struggles are attributed to the lack of artificial intelligence features in its latest iPhones, while Huawei's resurgence is fueled by new domestic chipsets and flagship releases. Xiaomi led the market with a 29% increase in shipments, while Oppo and Vivo also saw significant growth.
Vivo has overtaken Apple as the top smartphone brand in China, capturing 17% of the market, while Huawei follows closely with 16%. Apple's market share has declined to 15% due to its failure to meet local consumer demands, particularly in AI features, amid rising competition from domestic brands. Huawei's resurgence, aided by locally-developed chipsets, and the overall growth of the Chinese smartphone market highlight the challenges Apple faces in adapting to local preferences.
In 2024, Huawei and Vivo surpassed Apple in China smartphone sales, with Apple experiencing a 17% year-on-year decline, shipping 42.9 million units for a 15% market share. Despite retaining the top spot in Q4 with 13.1 million units, Apple faced a 25% drop compared to the previous year, as competitors leveraged advanced AI features and local subsidies to enhance their market positions.
Amphenol Corporation, a leader in connectors, interconnect systems, and cabling products, has received a Buy rating from UBS. The company's net sales are distributed geographically, with 35.1% from the United States, 23% from China, and 41.9% from other regions.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs advises clients to go long usd cny ahead of inauguration
15:23 17.01.2025
ubs advises clients to go long usd cny ahead of inauguration
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trade taxes and economic growth insights from recent global developments
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Honor appoints new CEO as Zhao Ming resigns due to health issues
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