China strives to boost the digital economy’s share by 2025, driven by the 6G internet and big data technologies. The ambition emphasizes China’s motivation to advance in new technology. It persists in a rivalry with the U.S. in areas including semiconductors and AI. China’s top executive body, State Council, commented on the situation in a …
China plans to boost tech’s share; 6G on the way Read More »
Mainland Chinese stocks rose on Monday in a mixed trading session across the Asia-Pacific as official data showed the country’s economy grew faster than expected between October and December. The Shanghai Composite gained 0.58% to end its trading day at 3,541.67. The Shenzhen component added 1.51% to 14,363.57. The world’s second-largest economy rose by 8.1% …
Mainland Chinese Stocks and the Country’s Economy Read More »
The dollar fell on Monday as traders believed that the Federal Reserve’s tightening actions had already been priced in. In contrast, the euro fell from its two-month high. China’s surprise decrease in key lending rates has positioned it as an outlier, with other major central banks negotiating rate hikes. China’s action initially pushed the yuan …
The Dollar Holds Steady; Traders rethink Rate Expectations Read More »
Gold strengthened its position on Monday morning in Asia, while U.S. Treasury yields benefited from hawkish signals from the U.S. Federal Reserve. Moreover, markets are beginning to price in a sooner-than-anticipated reduction in the central bank’s balance sheet. Gold futures gained 0.16% to $1,819.40 by 11:36 PM ET (4:36 AM GMT). Moreover, benchmark 10-year U.S. …
NFT Art brings new meaning to nonfungible tokens, but can AI gain enough trust to produce a new genre of Art? Sales of NFTs reached $25 billion last year, indicating that the sector is one of the most popular markets in crypto. Art NFTs made a significant impact in 2021, with Christie’s having more than …
AI-generative Art might be the next trend for NFT Read More »
The economy of China rose by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop in retail sales, according to the information released by the country’s National Bureau of Statistics. The gross domestic product (GDP) rose by 4% from a year ago, according to the statistics …
World’s Second-Largest Economy Grew by 8.1% in 2021 Read More »
The dollar jumped as investors braced for the U.S. Fed meeting, while China decreased borrowing costs to support a struggling economy. On Monday, the dollar bounced as investors braced for January’s U.S. Fed meeting and raised bets. In the meantime, China cut borrowing costs in order to help its economy. There are several events in …
Dollar finds ground as traders support a hawkish Fed meeting Read More »
On Friday morning, the dollar was down in Asia, heading for its worst weekly drop in eight months. Long holdings were reduced as investors gambled that many rate rises in the United States are completely priced in for 2022. The US Dollar Index measures the dollar’s value against a basket of other currencies. By 10:10 …
It was not an easy day for stocks in Asia-Pacific. Stocks in South Korea, as well as Japan, led losses in major markets across the region on Friday as the recent rally in U.S. stocks broke momentum with the Nasdaq Composite breaking a three-day winning streak. U.S. stocks declined on Thursday. The S&P 500 fell …
Stocks in South Korea and Japan Suffered Significant Losses Read More »
Oil futures reversed losses on Friday thanks to a weaker U.S. dollar. Nonetheless, the world’s biggest importer’s imminent release of crude reserves capped price gains. Brent crude futures gained 32 cents or 0.4% to $84.79 a barrel at 07:30 GMT. U.S. West Texas Intermediate (WTI) crude advanced 11 cents or 0.1% to $82.23 a barrel. …
On Thursday morning, the dollar rose in Asia, fighting its way back from overnight lows. Although statistics revealed that consumer prices in the United States climbed at their quickest rate in over 40 years, it is unlikely to sway an already hawkish monetary policy. By 10:19 p.m. E.T., the U.S. Dollar Index, which measures the …
The Covid-19 created numerous problems and it is not over yet. Europe is slowly changing its stance regarding the pandemic. For example, there are growing calls in Europe for Covid-19 to be treated as an endemic illness like the flu in spite of strong warnings from global health officials that the pandemic is far from …
Europe Wants to Change its Position Regarding Covid-19 Read More »
U.S. stocks rose on January 12 after an important inflation report showed a historic gain but largely matched expectations. On January 12, the S&P 500 gained roughly 0.28% to 4,726.35. The Nasdaq Composite advanced 0.23% to 15,188.39 for its third straight positive day. Meanwhile, the Dow Jones Industrial Average, which shuffled between modest gains and …
Key Inflation Report and its Influence on Stocks Read More »
Chinese markets saw gains on the day, tracking gains in other Asia-Pacific markets. In Hong Kong, the Hang Seng index jumped 2.79% to end its trading day at 24,402.17. The Hang Seng tech index added nearly 5%, with Tencent rallying 4.52%. On Wednesday, Alibaba added 5.89%, Meituan gained 9.33%, and J.D. added 11.05%. Mainland Chinese …
Hang Seng Index Jumped on Wednesday Thanks to Tech Stocks Read More »
Gold strengthened its position on Wednesday morning in Asia. Investors shifted their attention to U.S. inflation data after Federal Reserve’s Chairman Jerome Powell set a less hawkish tone and reiterated that the central bank would tackle inflation. Gold futures rose 0.01% to $1,818.75 by 11:39 PM ET (4:39 AM GMT). The U.S. currency, which usually …
Gold Futures Gained 0.1% Thanks to a Combination of Factors Read More »
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