Futu, an online brokerage that provides Chinese investors with access to the Hong Kong and US stock markets, has released its unaudited third-quarter financial results. The company reports a 12.4% increase in revenue, reaching $247.9 million. The company’s gross profit rose 18% year-over-year (YoY) to $220.1 million, while the net income increased by 22.7% in …
Futu’s Net Profit Rises 23%, Despite Drop in Trading Vol Read More »
Asia Stocks Shining Their Best Light Since 1998 Some analysts worry China’s reopening euphoria will give way to the harsh reality of a looming global recession. A world-beating rally across Asian markets looks precarious. As bets for a softer Federal Reserve tightening and China’s shift away from COVID-Zero ignited a buying fever, stocks are on …
American Stock Market Recovers from Last Week’s Plummet Investors rushed back into global stock markets after U.S. producer prices verified an inflation deceleration and revived trust in the Federal Reserve’s ability to slow down its pace of interest rate hikes. Treasury yields dropped by ten basis points, and contracts on the tech-heavy Nasdaq 100 increased …
Oil prices increased on Friday as softer-than-expected U.S. inflation data raised expectations of more gradual Federal Reserve interest rate increases. Still, worries about slowing economic growth and a rise in COVID in China kept oil trade negative for the week. U.S. CPI inflation slowed more than forecast in October. This indicated that the Fed’s swift …
On Friday, most Asian currencies surged. Meantime, the dollar fell to its lowest level in two months as softer-than-expected U.S. inflation data raised hopes that the Fed will halt the rate of interest rate increases. Hong Kong lifted certain COVID restrictions, which sparked rumors that China would follow suit soon. This also helped sentiment. The …
Despite preparations for a rescue offer from bigger rival Binance, cryptocurrencies experienced a second day of steep falls on Wednesday as investors remained concerned about the viability of the industry and the financial state of major exchange FTX. To address a “liquidity bottleneck” at the competing exchange, cryptocurrency giant Binance reached a non-binding deal on …
Hong Kong has lost its reputation as a fintech hub. Hence, the government has proposed allowing ordinary investors to trade cryptos and exchange-traded funds. After the city, which had previously considered restricting bitcoin trade to professional investors, drew strong criticism for planned legislation for digital assets that would have impeded innovation, several start-ups have gone …
As the nation continues to roll out a central bank digital currency, China’s central bank said on Wednesday that transactions utilizing the digital yuan had exceeded 100B yuan ($13.9B) as of August 31. The People’s Bank of China, also called PBOC reported this week that the expenditure encompassed 360M transactions in trial zones across 15 …
More than 100 Billion Yuan in Digital Currency Spending Read More »
China was an exception as dismal data signaled additional pressure on the COVID-hit economy, but Asian equities rode a global rebound on Thursday, enjoying wide gains as oil prices stabilized at lower levels only seen previous to the Russian-Ukraine War. Despite an anticipated ECB rate rise and concerns about an energy crisis, futures markets indicated …
Despite Fears Over China COVID, Asian Equities Rise Read More »
On Tuesday afternoon, Asian markets mostly erased morning gains as investors maintained their caution ahead of this week’s meeting of the European Central Bank while also keeping an eye out for any consequences of Russia’s gas curtailment. Following Monday’s Labor Day holiday break, U.S. equities are expected to begin higher on Tuesday, with E-mini …
What You Need to Know Before Trading in Asian Markets Read More »
The European stock market fell and the dollar continued to strengthen. New restrictions to curb the spread of the virus in China added to investor concerns about the global economy’s health. The Stoxx Europe 600 was down 0.6% in early trade after Chinese shares fell sharply amid new Covid-19 restrictions. Germany’s Dax fell 0.8%. USD/JPY …
Global markets and trends change every day. Several big influencers cause price movements every second. How have Forex, Stocks, Cryptocurrencies, and Commodities performed this week? Our weekly overview will answer that question and summarize the week’s performance. Forex Weekly Overview The dollar rose in early Asian trade on Friday ahead of U.S. inflation data and after …
Weekly Overview: Forex, Stocks, Crypto, Commodities June 10 Read More »
Global markets and trends change every day. Several major influencers are causing price swings every second. How have the markets performed this week? What are the general updates in Forex, Stocks, Cryptocurrencies, and Commodities? Our weekly overview will answer that question and summarize the week’s overall market performance. Forex Weekly Overview The dollar was set …
Weekly Overview: Forex, Stocks, Crypto, Commodities May 20 Read More »
Stocks in Asia-Pacific rose on Thursday following the Federal Reserve’s decision on Wednesday to raise rates by half a percentage point. On Wednesday, the Federal Reserve increased its benchmark interest rate by half a percentage point, in line with market expectations. The Federal Reserve also outlined a program whereby it will eventually cut its bond …
Federal Reserve’s Decision and its Influence on Stocks Read More »
Stocks in Asia-Pacific declined on Monday, with data released over the weekend showing Chinese factory activity contracted in April. In Japan, the Nikkei 225 dropped 0.11% as shares of robot maker Fanuc declined 2.26%. The Topix index dipped fractionally to end its trading day at 1,898.35. In South Korea, Kospi fell 0.28% to finish its …
