Feb 15 2024: Australia’s stock market witnessed a significant surge as Thursday’s trading session concluded, with notable gains observed in the IT, A-REITs, and Consumer Discretionary sectors. At the close in Sydney, the S&P/ASX 200 index posted a robust increase of 0.77%. Leading the charge among top performers on the S&P/ASX 200 was Altium Ltd (ASX: ALU), which soared by an impressive 28.91% or 14.82 points to reach 66.08 by session end. Additionally, Appen Ltd (ASX: APX) rose by 10.17%, adding 0.03 points to close at 0.33, while Mesoblast Ltd (ASX: MSB) saw an increase of 9.09% or 0.03 points,…
Author: editor2
Feb 14, 2024: Commonwealth Bank of Australia (CBA) issued a warning on Wednesday about potential downside risks looming over the Australian economy due to persistently high interest rates and inflation. The caution came as the country’s biggest lender reported a drop in its first-half profit, albeit surpassing expectations. CBA’s profit announcement follows remarks from mortgage lending competitor Macquarie Group, which noted gaining market share, setting the stage for a challenging year for Australia’s major banks amid lower margins and fees. CBA’s CEO, Matt Comyn, highlighted the lagged impact of interest rate hikes on households and businesses, anticipating ongoing financial strain…
Feb 14, 2024: On Wednesday, most Asian currencies faced notable losses, with the dollar hovering near three-month highs following robust U.S. inflation data, stirring concerns that the Federal Reserve might maintain higher interest rates for an extended period. The Japanese yen was particularly impacted, slipping below the 150 level against the dollar for the first time since late November. This decline was exacerbated by dovish signals from the Bank of Japan, signaling a gradual approach to raising interest rates from ultra-low levels. Expectations of prolonged elevated U.S. interest rates further weighed on the yen, with Tuesday’s consumer price index (CPI)…
Feb 14, 2024: Oil prices declined in Asian trading on Wednesday following a report from a U.S. industry group indicating that crude stocks surged more than anticipated last week. Additionally, investors tempered their expectations for interest rate cuts by the U.S. Federal Reserve. Brent futures dipped by 11 cents, or 0.13%, to $82.66 a barrel at 0403 GMT, while U.S. West Texas Intermediate (WTI) crude futures slipped 3 cents to $77.84 a barrel. DBS Bank’s energy sector team lead, Suvro Sarkar, remarked, “The (price) rally has been cut short by the higher than expected US inflation print, which has the…
Feb 14, 2024: According to Reuters, Peter Thiel’s Founders Fund made a significant investment in bitcoin and ether before the recent crypto bull run. Amidst growing interest in the cryptocurrency sector among Silicon Valley investors, the venture capital firm allocated $200 million to purchase these cryptocurrencies between late summer and early autumn of 2023. The investment was evenly split between bitcoin and ether, highlighting a renewed institutional engagement in the crypto market. Founders Fund began acquiring bitcoin when its price was below $30,000 and continued to accumulate both bitcoin and ether over subsequent months. This undisclosed investment underscores the increasing…
Feb 14, 2024: Australia’s major banks faced a downturn on Wednesday following a cautionary announcement from Commonwealth Bank of Australia (ASX:CBA), the country’s largest lender. CBA’s shares dropped by 3.1%, setting the tone for its peers. ANZ Group Holdings Ltd (ASX:ANZ), National Australia Bank Ltd (ASX:NAB), and Westpac Banking Corp (ASX:WBC) saw declines ranging from 1.2% to 2.1%, collectively dragging down the ASX 200 benchmark by 1%. CBA reported a 3% decrease in cash profit for the six months ending December 31, 2023, amounting to A$5.02 billion ($3.2 billion). While the decline was less severe than anticipated, it underscored the…
Feb 9, 2024: As European traders seek guidance from Asian markets, they are met with divergent trends. While Hong Kong struggles, weighed down by property shares, Japan celebrates a significant milestone with the Nikkei reaching a new 34-year peak. In Hong Kong, a subindex of mainland property shares plummeted more than 3%, contributing to a lackluster performance as the market heads into the Lunar New Year break. On the other hand, mainland Chinese stocks ended positively, boosted by the appointment of a new head of the securities watchdog known for decisive action. Japan’s Nikkei surged, buoyed by dovish signals from the…
Feb 9, 2024: Oil prices showed minimal change on Friday, remaining poised for weekly gains, amidst ongoing tensions in the Middle East following Israel’s rejection of a ceasefire proposal from Hamas. Brent crude futures edged down by 1 cent to $81.62 per barrel, while U.S. West Texas Intermediate crude futures inched up by 3 cents to reach $76.25 per barrel by 0334 GMT. Both benchmarks experienced around a 3% increase in the previous session, as Israeli forces carried out bombings in the southern border city of Rafah on Thursday, following Prime Minister Benjamin Netanyahu’s dismissal of a proposal to end the…
Feb 9, 2024: On Thursday, Cardano experienced a significant surge of 10.21%, reaching $0.5321 by 03:05 (08:05 GMT) on the Index. This surge marked the largest one-day percentage gain since January 10. As a result of this upward momentum, Cardano’s market capitalization rose to $18.5367 billion, accounting for 1.09% of the total cryptocurrency market cap. However, this remains substantially lower than its peak market cap of $94.8001 billion. Within the past twenty-four hours, Cardano’s price ranged between $0.5022 and $0.5347. Over the course of the previous week, Cardano demonstrated a positive trend, experiencing a 6.44% increase in value. The trading volume…
Feb 9, 2024: Japanese stocks closed higher on Friday, with the Nikkei 225 reaching a new 5-year high, driven by gains in the Communication, Financial Services, and Electrical/Machinery sectors. At the close in Tokyo, the Nikkei 225 rose by 0.18%. Among the top performers on the Nikkei 225 were Fujikura Ltd. (TYO:5803), soaring by 23.85%, Nisshinbo Holdings Inc. (TYO:3105), climbing by 9.24%, and SoftBank Group Corp. (TYO:9984), advancing by 8.72%. However, some stocks experienced declines, including Nissan Motor Co., Ltd. (TYO:7201), which fell by 11.56%, Nikon Corp. (TYO:7731), dropping by 7.24%, and Teijin Ltd. (TYO:3401), down by 7.22%. On the Tokyo…
