-- Huishang Bank (HKG:3698) recorded a net profit of 5 billion yuan in the first quarter of 2026, according to a Tuesday Hong Kong bourse filing.
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Sectors
Gold Edges Down Early, Remaining Rangebound, As Treasury Yields Rise
Gold edged lower early Friday, albeit it remained rangebound, even with a weakening dollar as treasury yields rose while traders turn to bonds and also while the Iran War pushes up oil prices and boosts inflation and threatens higher interest rates.Gold for June delivery was last seen down $20.20 to US$4,609.40 per ounce.The precious metal has traded within a narrow range over the past month as the Iran war remains deadlocked. Against this backdrop, U.S. data on Thursday showed the Federal Reserve's preferred inflation measure rose by 3.5% annualized in March, up from a 2.8% pace in February.While the Fed's policy committee declined to raise interest rates at the Wednesday end to its two-day policy committee, it issued a hawkish outlook, with rates likely to rise to combat higher prices, keeping gold, which offers no interest, in check."Gold ended April little changed despite a late oil-driven wobble sparked by inflation and rate-hike concerns," Saxo Bank noted.The dollar fell early, with the ICE dollar index last seen down 0.14 points to 97.92, the lowest since the start of the war on Iran. Treasury yields rose, with the yield on the U.S. two-year note last seen up 2.7 basis points to 3.9%, while the 10-year note last seen paying 4.393%, up 1.8 points.
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Commodities
Exxon Q1 Hydrocarbons Output Rises YoY Despite Middle East Disruptions
Exxon Mobil (XOM) Friday reported a year-over-year increase in its Q1 oil and gas production, as higher output from the Americas more than offset supply disruptions in the Middle East.For the quarter ended March 31, the upstream segment's oil and gas output stood at 4.59 million barrels of oil equivalent per day, a rise from the previous year's 4.55 mboe/d but a decline from the prior quarter's 4.99 mboe/d.Net production of crude oil, natural gas liquids, bitumen, and synthetic oil was up year over year to 3.3 million barrels per day from 3.1 mmbbls/d, as higher output from the US, Canada and other American regions offset declines in Asia. Q1 output, however, was down versus the previous quarter's 3.5 mmbbls/d.Net natural gas production came in lower at 7.8 million cubic feet per day, relative to year-ago levels of 8.5 mcf/d, largely due to lower Asian output. Q1 production was also down versus Q4's 8.7 mcf/d.During the period, the company noted that Guyana achieved a record quarterly production of more than 900,000 gross barrels of oil per day, but the Middle East conflict negatively impacted overall output levels.Golden Pass LNG, a joint venture between QatarEnergy and ExxonMobil, achieved first production from Train 1 at the end of March, Exxon said, resulting in a 5% year-over-year increase in US exports.The company posted a decline in Q1 refinery throughput, primarily due to reduced processing in Europe and Asia. Throughput totaled 3.5 mmbbls/d in Q1, compared with 3.8 mmbls/d a year ago and 4.1 mmbbls/d a quarter earlier.Nonetheless, energy product sales grew year over year to 5.6 mmbbls/d from 5.3 mmbbls/d, as higher US sales more than offset a drop in non-US volumes. Except for heating oils, kerosene, and diesel, all other energy products logged corresponding sale increases.Q1 sales, however, were lower than Q4's 5.8 mmbbls/d, due to scheduled maintenance and Middle East disruptions, the company said.Chemical product sales totaled 5.4 million tons in Q1, up versus 4.8 mmt a year earlier, but down compared with the previous quarter's 5.7 mmt.Special product sales also grew to 1.98 mmt in Q1, versus 1.94 mmt in the prior year and 1.92 in the previous quarter, with high-value products achieving a record sales volume, according to the report.
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Sectors
Sector Update: Financial Stocks Rise Premarket Friday
Financial stocks were rising premarket Friday, with the State Street Financial Select Sector SPDR ETF (XLF) advancing by 0.4%.The Direxion Daily Financial Bull 3X Shares (FAS) was 1.1% higher and its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was down 1.1%.Aon (AON) shares were up more than 2% after the company reported higher Q1 adjusted earnings and revenue.Ares Management (ARES) stock was up more than 2% after the company posted higher Q1 earnings and revenue.Cboe Global Markets (CBOE) shares were up more than 5% after the company posted higher Q1 adjusted earnings and revenue.
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