Tue, November 29, 2022

Hong Kong

Stock Report – stock exchange background – WibestBroker

Futu’s Net Profit Rises 23%, Despite Drop in Trading Vol

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 …

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Oil

Can The Recession Crash the Oil Prices Further?

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 …

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Cryptocurrency

Will the Crypto Fall Continue?

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 …

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Cryptocurrency

Hong Kong Might Enable Crypto Retail Trading

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 …

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Cryptocurrency

More than 100 Billion Yuan in Digital Currency Spending

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 …

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Stocks in Asia

Despite Fears Over China COVID, Asian Equities Rise

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 …

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Asian Markets

What You Need to Know Before Trading in Asian Markets

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 …

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Stocks and tensions

Stock Market Overview: What Should We Expect?

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 …

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Weekly market updates: Forex, Stocks, Crypto, Commodities

Weekly Overview: Forex, Stocks, Crypto, Commodities June 10

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 …

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Weekly Overview: Forex, Stocks, Crypto, Commodities

Weekly Overview: Forex, Stocks, Crypto, Commodities May 20

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 …

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Stocks in Asia-Pacific

Federal Reserve’s Decision and its Influence on Stocks

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 …

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