Reported 19 days ago
China's exports are projected to increase by 5.2% year-on-year in October, driven by favorable weather and significant discounts, despite a decline in global demand. While imports are expected to drop by 1.5%, the overall manufacturing activity has shown signs of growth. Analysts caution against relying too heavily on exports for economic stability and anticipate a $1.4 trillion fiscal package to support local economies amid ongoing challenges.
Source: YAHOO
Reported 19 days ago
Honda Motor reported a surprising 15% decline in its second-quarter operating profit, totaling 257.9 billion yen, significantly lower than analysts' forecasts of 427.2 billion yen. The company attributed the drop to a steep sales decline in China despite stronger performance in the U.S. and Japan. This marks Honda's first year-on-year profit decrease in seven quarters, with total vehicle sales down 1.5% globally. As consumer demand shifts towards electric and hybrid vehicles, Honda is facing challenges in its once-dominant Chinese market.
Source: YAHOO
Reported 19 days ago
Donald Trump is poised to reclaim the White House, leading in critical battleground states and bolstering Republican control in the Senate. In a speech to supporters in Florida, Trump declared it a victory unprecedented in American politics and emphasized his commitment to healing the nation. While he has not yet been officially declared the winner, early results show significant wins for Trump in states like Pennsylvania, while Kamala Harris struggles to maintain a foothold in the election. The financial markets responded positively to the prospects of a Trump presidency as both local and national races unfold.
Source: YAHOO
Reported 19 days ago
Japanese trading company Itochu announced a 6% rise in its first-half profits, reaching $2.9 billion, largely due to growth in its food and FamilyMart convenience store sectors, despite lower prices in metals and energy. The firm sees a diversified portfolio as crucial for mitigating commodity price fluctuations, with plans to enhance its metal exposure by acquiring a significant stake in Brazil’s Companhia Siderúrgica Nacional's iron ore unit.
Source: YAHOO
Reported 19 days ago
The CMOC Group Ltd., the world’s largest cobalt miner, warns about the declining significance of cobalt in electric vehicle (EV) batteries, predicting that its proportion in EV batteries will drop to 31% in 2024 from 44% two years ago due to the rise of cheaper cobalt-free lithium iron phosphate (LFP) batteries. This shift, coupled with overproduction leading to falling cobalt prices, poses challenges for CMOC, which has been expanding production while its competitor Glencore has reduced output. Analysts forecast a bearish outlook for cobalt prices as new refining capacities come online in China and Indonesia.
Source: YAHOO
Reported 19 days ago
Thailand's inflation rate continued to fall short of the central bank's target for the fifth consecutive month, with the consumer price index increasing by only 0.83% in October, below analysts' expectations. This has intensified calls for further rate cuts from the Bank of Thailand to stimulate economic growth, as the government seeks to encourage price gains amid a sluggish economic performance and rising household debt. The ongoing debate between the central bank and the government emphasizes the challenges in managing monetary policy effectively.
Source: YAHOO
Reported 19 days ago
The yen has fallen to its lowest point since July, while Japanese stocks have rallied due to Donald Trump's lead in the US presidential election over Kamala Harris. Investors anticipate further depreciation of the yen and a possible increase in interest rates as the market reacts to Trump's economic policies. The Nikkei 225 and Topix indices saw significant gains, especially in the banking sector. Japan's central bank may consider raising rates in December as the yen's decline raises concerns over imported inflation.
Source: YAHOO
Reported 19 days ago
As of early November 6, 2024, Donald Trump has secured victories in North Carolina and Georgia, while the race in Pennsylvania remains too close to call. Both Trump and Vice President Kamala Harris need 270 electoral votes to win, with Harris facing a challenging path. Republicans have regained control of the U.S. Senate for the first time in four years, heightening the stakes of the House races that continue to unfold.
Source: YAHOO
Reported 19 days ago
As key election results began to roll in, small-cap stocks, particularly those within the Russell 2000 Index, experienced significant gains, reaching a 3.6% increase before settling at a 2.5% rise. Market reactions were influenced by Donald Trump's early lead in the Electoral College, with investors speculating on potential benefits for domestic-focused companies in the event of a Trump victory. Despite ongoing uncertainty about the final outcome, traders are cautiously optimistic about small caps outperforming larger stocks due to the risk-on sentiment triggered by the election developments.
Source: YAHOO
Reported 19 days ago
Asian stocks fell, particularly impacted by losses in Hong Kong's technology sector, as Donald Trump appeared likely to win the US presidential election. The MSCI Asia Pacific ex-Japan index dropped 1.1%, with concerns regarding potential trade tensions under a Trump administration. While Hong Kong's Hang Seng index faced a 2.6% decline, mainland China stocks showed slight losses amidst expectations for economic stimulus. Analysts believe Trump's win could pressure Asian markets, especially with the prospect of sustained inflation and tariffs affecting export-driven economies.
Source: YAHOO
Reported 19 days ago
Private equity firm KKR has obtained a 35% stake in the Japanese software company Fuji Soft following the first stage of its two-part tender offer. Despite Bain Capital's higher bid to take Fuji Soft private, KKR now possesses enough shares to block Bain's attempt. The second stage of KKR's tender offer, maintaining the price at 8,800 yen per share, is set to launch in mid-November.
Source: YAHOO
Reported 19 days ago
Nintendo President Shuntaro Furukawa announced that games for the Switch console will be playable on its successor device, expected to be unveiled by March 2025. This backwards compatibility aims to ease the transition for existing customers, allowing them to enjoy their current games on the new platform. Despite a slowdown in hardware sales, Nintendo saw a significant increase in software sales and remains focused on leveraging the success of the Switch's extensive game library.
Source: YAHOO
Reported 19 days ago
Super Micro Computer's stock fell sharply after it announced preliminary fiscal results that failed to meet expectations and indicated uncertainty about filing its delayed 2024 annual report. The shares, which had previously soared due to AI hype, are now testing crucial support levels around $23, with significant resistance observed near $30 as the company grapples with governance issues and an auditor resignation.
Source: YAHOO
Reported 19 days ago
Gold and copper prices fell sharply following Donald Trump's victory in the U.S. elections, leading to a stronger dollar. This market reaction reflects traders' concerns over potential trade repercussions and geopolitical instability. October's prior gains in gold, driven by uncertainty, were reversed as investors took profits, while analysts remain cautiously optimistic about gold's long-term value against inflation risks.
Source: YAHOO
Reported 19 days ago
The dollar surged to a four-month peak after Donald Trump won the U.S. presidential election, anticipating policy changes that could boost U.S. growth and inflation. This victory, combined with Republican control of the Senate, raises the potential for significant legislative shifts. Meanwhile, Bitcoin reached a record $76,134, benefiting from Trump's favorable stance toward cryptocurrencies. Currency shifts were orderly as market players adopted cautious positions leading up to the election, although Trump's preference for a weaker dollar could pose future challenges.
Source: YAHOO
Reported 19 days ago
Bitcoin reached an all-time high of $75,060 in Asian trading, surging 7% as traders anticipated a potential victory for Donald Trump in the U.S. presidential election. This surge reflects investor optimism that Trump's return could lead to a more favorable regulatory environment for cryptocurrencies. Meanwhile, ether also saw a rise of 7.5%, although it remains below its 2021 peak.
Source: YAHOO
Reported 19 days ago
Stocks reached record highs, the dollar strengthened, and US Treasury yields rose following Donald Trump's early lead in the presidential election. The S&P 500 experienced its best post-Election Day performance ever, driven by optimism over potential pro-growth policies and tax cuts under a Republican-controlled government. Investor sentiment shifted positively, spurring buying across various sectors, particularly benefiting small caps and financials. Analysts predict continued market momentum alongside expected Federal Reserve rate cuts as businesses anticipate a more favorable economic environment.
Source: YAHOO
Reported 19 days ago
Bitcoin reached a new record of $75,000 as early election returns suggested an advantage for former President Trump over Vice President Kamala Harris, prompting a surge in US stock futures. While many battleground states remain undecided, the cryptocurrency is seen as a potential beneficiary of a second Trump term.
Source: YAHOO
Reported 19 days ago
Senator Ted Cruz successfully won reelection in Texas, defeating former NFL linebacker Colin Allred. With approximately 68% of votes counted, Cruz led by about 9 percentage points. This election remained pivotal for both parties, with Cruz emphasizing his conservative stance while Allred sought to appeal to moderate voters. The results indicate that Texas remains firmly a Republican stronghold despite efforts by Democrats to gain traction.
Source: YAHOO
Reported 19 days ago
In the wake of rising dollar strength following the US elections, various Asian countries are taking measures to stabilize their currencies. Authorities in Indonesia, China, India, and Thailand are either intervening or monitoring for potential market fluctuations as traders anticipate former President Trump's protective economic policies. The dollar's value surged, putting pressure on all Asian currencies, prompting speculations on further interventions by central banks in the region.
Source: YAHOO
Reported 19 days ago
Following Donald Trump's election victory, commodities experienced a significant drop as a stronger dollar diminished their attractiveness in global markets. Oil prices fell, with West Texas Intermediate crude down by 3.1%, while agricultural and industrial metals, including soybeans and copper, also reported losses. The potential for increased trade tensions, particularly with China, raises concerns for agricultural markets, prompting expectations of tariff implementations that could affect various industries.
Source: YAHOO
Reported 19 days ago
Emerging markets experienced significant declines following Donald Trump's victory in the presidential race, which saw the US dollar and yields surge. Currencies in Eastern Europe faced the steepest losses, while the Mexican peso showed volatility. Traders are uncertain about the implications of a second Trump presidency, particularly regarding trade tariffs and immigration policies, which could elevate US borrowing costs, harm emerging economies, and create further volatility in currency markets.
Source: YAHOO
Reported 19 days ago
Bitcoin surged to a record high of $76,106 following Donald Trump's re-election as US president, marking a significant response in global markets. The cryptocurrency rose by 10% as investors anticipated more favorable regulations for digital assets under a pro-crypto administration, contrasting with the previous Biden administration's enforcement actions against the sector. Major gains in the crypto market were also reflected by other digital tokens like Ether and Dogecoin, highlighting the growing political influence of the crypto industry.
Source: YAHOO
Reported 19 days ago
Copper prices dropped as the dollar strengthened following Donald Trump's early lead in the US elections, with a 1.9% decline to $9,553 per ton. The increase in the dollar, which rose by 1.6%, made metals more expensive for many buyers, contributing to losses across various metals, including zinc and aluminum. Despite recent gains in the market driven by positive economic indicators from China, the uncertainty surrounding the election results impacted commodity prices.
Source: YAHOO
Reported 19 days ago
Nintendo's President Shuntaro Furukawa reassured that the Switch's sales momentum remains strong, even as the company prepares to introduce its successor. Although Nintendo reported a 60% drop in profits due to declining Switch sales, Furukawa emphasized that all current games will be compatible with the next console. Nintendo is diversifying its ventures, investing in hardware, software, and entertainment projects, including upcoming movies based on Mario and Zelda, scheduled theme park openings, and the expansion of official stores. Over 100 million people globally enjoy the Switch, and Nintendo's stock has seen recent gains.
Source: YAHOO