Reported 5 days ago
Netflix shares are under scrutiny following technical glitches during a record-setting broadcast of the Jake Paul vs. Mike Tyson fight, which drew 60 million viewers. Investors are advised to monitor key price levels, as recent momentum indicators suggest a potential slowdown in bullish trends. Key support levels to watch include $770, $725, and $690, with a possible upside target forecasted at $870.
Source: YAHOO
Reported 5 days ago
Overseas investors are rapidly reducing their holdings in Indian bonds, experiencing the largest outflows since June, due to increasing US yields making these securities less attractive. In the past week, global funds sold a net ₹49.6 billion ($588 million) of bonds, reflecting a total net offloading of ₹87.5 billion this month. This trend coincides with narrowing interest-rate differentials between the US and India, and a more cautious stance from the Reserve Bank of India regarding rate cuts amid rising inflation.
Source: YAHOO
Reported 5 days ago
Oil prices have increased following a weekly decline, driven by a renewed risk-on sentiment in the markets. However, worries persist about China's demand and a potential global supply glut. Brent crude rose above $71 a barrel while West Texas Intermediate approached $67, amidst fluctuating prices influenced by geopolitical tensions and weak consumption in China affecting Angolan crude sales. Market participants are cautious due to the uncertain supply outlook from the US and OPEC+.
Source: YAHOO
Reported 5 days ago
Foxconn has instructed its recruitment agents in India to remove age, gender, and marital status from job advertisements for iPhone assembly positions following allegations of discrimination against married women. This decision comes after media scrutiny revealed that only unmarried women of certain ages were targeted in ads, contradicting anti-discrimination policies. The company's new templates for ads do not identify Foxconn or include specific eligibility criteria, aiming to align practices with legal and ethical standards.
Source: YAHOO
Reported 5 days ago
Ten years after the launch of the Hong Kong Stock Connect, which opened Chinese markets to international investors, calls for deeper access to initial public offerings (IPOs) have intensified. While the program has been highly successful in facilitating cross-border trading, it has yet to allow investors to participate in IPOs. HKEX's leadership acknowledges this aspiration but emphasizes the need for better market conditions and infrastructure before any expansion can occur. Celebrations of the Stock Connect's anniversary highlight its significant impact on trading volumes, yet concerns about liquidity and the need for more product offerings remain.
Source: YAHOO
Reported 5 days ago
Country Garden has submitted preliminary terms for an offshore debt restructuring proposal to some creditors, aiming to avoid liquidation following its default on $11 billion in bonds last year. The proposal includes a revised cash flow projection indicating a decline in expected cash flow over the coming years. The company aims to secure creditor support before the next court hearing scheduled for January 20, 2025, as it navigates ongoing challenges in the struggling Chinese property sector.
Source: YAHOO
Reported 5 days ago
Samsung Electronics shares jumped after announcing a surprise buyback of around 10 trillion won ($7.2 billion). This decision follows concerns over the company's lagging performance in the AI memory chip market, with shares seeing a 7.5% increase during trading in Seoul. The buyback is expected to support the stock price and potentially strengthen the founding family's control, as the company navigates competitive challenges in the tech industry.
Source: YAHOO
Reported 5 days ago
Thailand's economy grew 3.0% in the third quarter, driven by improved exports and government spending, surpassing expectations. However, despite this growth, private consumption has slowed, prompting ongoing pressure for interest rate cuts. The government plans to meet soon to discuss further stimulus measures, including cash handouts, aiming to sustain the recovery into 2025. While public investment saw its first increase in six quarters, private consumption and investments remain weak, highlighting the economy's reliance on government spending amidst high household debt.
Source: YAHOO
Reported 5 days ago
Options traders are reversing bullish positions on U.S. stocks due to concerns about slower interest rate cuts. Following the initial post-presidential election rally, attention has returned to economic fundamentals, leading to a 2.1% decline in the S&P 500 Index last week. As uncertainty grows, traders are reducing exposure to big tech stocks and moving towards biotech and consumer staples, influenced by Trump's new policies and recent cabinet appointments.
Source: YAHOO
Reported 5 days ago
Goldman Sachs forecasts that gold prices will reach a record high in 2025, driven by increased buying from central banks and anticipated interest rate cuts by the Federal Reserve. Analysts project prices could hit $3,000 per ounce by December 2025, supported by a surge in demand from official sectors and investment flows into exchange-traded funds. The outlook highlights potential stability in gold backed by economic uncertainties and governmental policies under the Trump administration.
Source: YAHOO
Reported 5 days ago
Gold prices increased after experiencing their worst weekly decline since 2021, rising over 1% to surpass $2,597 an ounce. This rebound follows the easing of the US dollar and speculation surrounding potential Federal Reserve rate cuts, spurred by Donald Trump's anticipated return to the presidency. Analysts believe lower borrowing costs may benefit gold, which is often seen as a safe investment. Goldman Sachs predicts a bullish outlook for gold, forecasting prices could reach $3,000 an ounce in 2025 due to ongoing economic uncertainties and central bank policies.
Source: YAHOO
Reported 5 days ago
Nomura Holdings Inc. has seen some of its trading clients return after the brokerage implemented measures to address concerns from a regulatory probe into market manipulation. Major banks and insurers that had paused dealings with the firm are restarting activities following an explanation of the steps being taken to prevent future breaches, including leadership salary cuts and improved compliance frameworks. Despite some recovery in trading, Nomura's involvement in major underwriting deals remains limited, although overall business is benefiting from a boost in Japan's financial markets.
Source: YAHOO
Reported 5 days ago
Super Micro Computer's stock (NASDAQ: SMCI) experienced a significant decline, plummeting 24.2% over the past week due to delays in filing important financial reports with the SEC and increased competition from Cisco in the AI server market. The company's failure to submit its 10-Q report on time has raised concerns about potential delisting from the Nasdaq. Currently down 35% year-to-date and 84% from its all-time high in March, Supermicro's future remains uncertain as it seeks to stabilize its financial position.
Source: YAHOO
Reported 5 days ago
Bank of Japan Governor Kazuo Ueda's cautious remarks about the timing of a potential interest rate hike at the upcoming December meeting have led to a weakening of the yen, which fell to 155.14 against the dollar. In his speech, Ueda emphasized the policy will depend on economic conditions and refrained from signaling any imminent increase, despite market expectations. Analysts interpret his remarks as a sign that the bank is wary of further currency depreciation, monitoring various risks before making any decisions but still indicating a future path toward higher rates.
Source: YAHOO
Reported 5 days ago
Alibaba Group Holding Ltd. is set to issue dollar and yuan bonds aimed at repaying offshore debt and repurchasing shares, following a record convertible bond sale earlier this year. The specifics of the bond offerings, including amounts and interest rates, have not been finalized, though Alibaba is considering selling approximately $5 billion in bonds. The company intends to primarily buy back US-listed shares, which have dropped nearly 25% since October. The bond proceeds will also be allocated for general corporate uses.
Source: YAHOO
Reported 5 days ago
President-elect Donald Trump has appointed Brendan Carr, a senior Republican and long-time member of the Federal Communications Commission (FCC), as its new chairman. Carr, who previously served as the FCC's general counsel, has been confirmed by the Senate three times. Trump aims to assert more control over the FCC, particularly to address grievances against media coverage, while Carr supports initiatives to curb Big Tech and promote public interest in broadcasting.
Source: YAHOO
Reported 5 days ago
BHP's Australia President Geraldine Slattery has indicated that the local mining industry is unprepared for the growing competition from lower-cost producers, particularly as the demand for commodities like nickel declines due to increased supply from countries such as Indonesia. She cautioned that Australia needs to adapt its policies to remain competitive or risk losing market share as other nations implement lower mining costs and favorable royalty regimes.
Source: YAHOO
Reported 5 days ago
Global equity markets experienced a slight decline as investors brace for Nvidia's earnings report amid concerns over the potential slowdown of U.S. Federal Reserve rate cuts. The U.S. dollar and bond yields remained near multi-month highs, reflecting expectations for less aggressive monetary policy. Meanwhile, geopolitical developments surrounding President-elect Trump's administration continue to shape market sentiment.
Source: YAHOO
Reported 5 days ago
Following two years of decline, analysts are optimistic about a rebound in the Japanese yen, anticipating a narrowing interest-rate gap between Japan and the US due to potential rate hikes by the Bank of Japan and cuts by the Federal Reserve. Predictions suggest the yen could rise to 130 against the dollar by the end of 2025; however, ongoing volatility and the impact of Donald Trump's presidency pose significant uncertainties. As hedge funds express bearish sentiment, strategists remain cautious yet hopeful for a yen recovery amidst changing monetary policies.
Source: YAHOO
Reported 5 days ago
Morgan Stanley and Goldman Sachs have adopted a more cautious outlook on Chinese equities due to ongoing deflationary trends and geopolitical tensions affecting earnings predictions. Morgan Stanley slightly underweighted Chinese stocks while Goldman Sachs lowered its target for the MSCI China Index, reflecting a declining optimism following government stimulus. Both firms anticipate challenges in corporate earnings and market valuations amid potential U.S. tariffs on Chinese goods.
Source: YAHOO
Reported 5 days ago
WH Group Ltd., the world's largest pork producer, intends to offer up to 20% of its subsidiary Smithfield Foods Inc. shares on the New York Stock Exchange or NASDAQ, as revealed in a filing in Hong Kong. The company previously announced its intention to raise at least $1 billion, which will be allocated to capital investments in infrastructure and expanding production capacity. WH Group's offering is pending US regulatory approval, with Smithfield expected to continue streamlining its operations.
Source: YAHOO
Reported 5 days ago
Samsung Electronics shares surged after the company announced a $7.2 billion buyback plan, aiming to buy back 10 trillion won of its stock over the next year. Despite concerns over its memory chip business lagging in the AI market, analysts see the buyback as a positive move to bolster stock prices and strengthen control by the founding family. The initiative follows a year where the stock has dropped about 28%, coinciding with a potential management reshuffle as Samsung strives to enhance its competitiveness in the semiconductor industry.
Source: YAHOO
Reported 5 days ago
Asian stocks are predicted to have a soft start with expectations for Federal Reserve easing diminishing and concerns over President-elect Donald Trump's fiscal and trade policies. Major markets in Australia and Japan are showing losses, while the dollar remains steady. Analysts suggest that the Fed may pause rate cuts in 2025, affecting investor sentiment. With inflation risks looming, traders are also keenly awaiting comments from the Bank of Japan Governor regarding future policy moves.
Source: YAHOO
Reported 5 days ago
The U.K. government announced that poultry on a commercial farm in St. Ives, Cornwall, have tested positive for the H5N1 bird flu virus. In response, all affected birds will be humanely culled, marking the first confirmed case of H5N1 in kept birds this season. The virus has also been detected in wild birds across the southwest of England and in parts of continental Europe, along with reports of its spread among wildlife and poultry in the U.S. Recently, a case was reported in British Columbia, Canada, involving a teen linked to a poultry outbreak.
Source: YAHOO
Reported 5 days ago
Super Micro Computer's stock has plummeted 82% after a short-seller report raised allegations of accounting manipulation and the resignation of its auditor, Ernst & Young. The company, once a frontrunner in the AI sector, now faces scrutiny over its financial practices and has delayed SEC filings, risking potential delisting from Nasdaq. Amid these challenges, revenue growth is stagnating and margins are declining, making it uncertain whether investors should consider buying the dip given the doubts surrounding its financial statements.
Source: YAHOO