Hong Kong May Need Further FX Intervention, OCBC Bank Says
OCBC Bank's Frances Cheung shares her views on the Hong Kong dollar (HKD) after the city's monetary authority intervened to defend the peg to the US dollar (USD). She tells Bloomberg Television that the amount of local currency the HKMA bought "was actually quite small" and that she suspects "further or additional FX intervention will be needed."
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- Business Upturn
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L2 is the semi-autonomous driving class and the de facto mainstream spec provided across the OEM landscape, with functionalities like adaptive cruise control and lane-keeping assistance. The L4 & L5 segment is anticipated to grow at the fastest pace, with companies such as Waymo, Cruise, and Baidu already testing fully autonomous prototypes within just a few years of rapid AI development. These levels allow for complete vehicle autonomy, with L5 having no human intervention at all. When regulations are adapted to changing landscapes and infrastructure is upgraded to meet the needs of full autonomy, L4 and L5 will experience exponential growth. By Propulsion: ICE Vehicles Dominate While EV Segment Accelerates Fastest Growth Internal combustion engine (ICE) vehicles dominated the market in 2023 and accounted for 64% of revenue share, due in part to its high US installed base and ongoing improvements in semi-autonomous functionality. As OEMs take their first steps toward electrification, they need to maintain a fingerhold in the old ICE world relative to the competition and must therefore integrate the autonomous functionality into these legacy platforms. Moreover, the ICE vehicle infrastructure is still strong all over the world, but especially in developing economies where people are expected to resist the switch to EVs, which means there's still demand. Electric vehicles (EVs) are expected to witness the fastest CAGR during the forecast period, attributed to their compatibility with autonomous driving systems. EV architectures provide for easier integration of SD features and driving algorithms with the help of greater efficiency and energy consumption. EV platforms have also been turned into testbeds for autonomous automakers. With new breakthroughs in battery range technology and a growing smart charging infrastructure, the convergence of EV and Autonomous technology will usher in the next frontier of mobility. By Vehicle Type: Passenger Vehicles Lead While Commercial Vehicles Set to Grow Rapidly Passenger vehicles dominated the market in 2023 and accounted for 72% of revenue share due to increasing consumer adoption of driver-assistance systems and safety. With the market for new buyer-acquisition sources getting tighter, automakers are pouring serious dollars into dozens of advanced autonomous software making it into sedans and SUVs with the goal of keeping the customer happy while not splitting their head open on the dashboard, and to differentiate in a split automotive market. The trend regarding software-defined vehicles is primarily driven by consumers Commercial vehicles, however, are projected to grow at the fastest rate due to increasing demand for automated logistics, last-mile delivery, and long-haul freight efficiency. Commercial vehicles will witness the fastest growth. The advantages of autonomous driving trucks, vans, and delivery robots will be the reduction of labor costs, the optimized fleet utilization, and the benefit of speed throughput. Driven by the need for operational scalability, the commercial vehicle segment will witness strong software consolidation. By Software Type: Perception & Planning Leads, Interior Sensing Grows Fastest with Cabin Intelligence Perception & planning software dominated the market in 2023 and accounted for 43% of revenue share, as it serves as the bedrock of autonomous driving systems by providing real-time environmental awareness and trajectory planning capabilities. 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In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
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New to The Street Announces the Broadcast of Show Number 675 This Saturday at 6:30 PM EST on Bloomberg Television Featuring: FLOKI, BioVie (NASDAQ: BIVI), Arrive AI ($ARAI), Health In Tech (NASDAQ HIT), and Commercialville T.V.
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