Reported 13 days ago
With Donald Trump potentially returning to the presidency, Mexico braces for renewed tensions marked by threats of border closures and mass deportations. Unlike in their previous interactions, new President Claudia Sheinbaum may respond more rigidly to Trump, as her ideological stance contrasts sharply with former President López Obrador's more transactional approach. Amidst a backdrop of economic interdependence, the upcoming USMCA review and issues regarding immigration and drug trafficking will likely challenge Mexico's diplomatic strategies.
Source: YAHOO
Reported 13 days ago
The Reserve Bank of New Zealand is expected to aggressively ease its monetary policy as it faces a three-month gap until its next meeting, prompting analysts to anticipate a significant rate cut of up to 75 basis points. Economic indicators show rising unemployment and a shrinking economy, compelling the RBNZ to rethink its meeting schedule established in 2016. With inflation pressures easing, there remains a strong push for preemptive action to stabilize the economy before the long summer break.
Source: YAHOO
Reported 13 days ago
South Korean retail investors have collectively raised their holdings of US stocks to over $100 billion for the first time, driven by increasing interest in Big Tech shares and leveraged funds. As of November 7, these investors held $101.4 billion in US equities, marking a 64% increase from the previous year. This surge comes as they seek better returns amidst a decline in Korea's stock market, with popular investments including Tesla, Nvidia, Apple, and Microsoft.
Source: YAHOO
Reported 13 days ago
LG Electronics Inc. has engaged Axis Capital Ltd. to assist with a potential $1.5 billion initial public offering for its Indian unit, aiming for a valuation of around $13 billion. This move underscores India's growing appeal for equity fundraising, as global investors look to capitalize on the country's economic expansion.
Source: YAHOO
Reported 13 days ago
Schroders Plc has downsized its executive committee from 22 to 9 members as part of new CEO Richard Oldfield's strategy to enhance agility and revitalize the asset management firm following a significant stock downturn. Oldfield, who succeeded Peter Harrison, aims to streamline operations and is reviewing various business segments to align more closely with competitors. The company is facing mounting investor pressure, evidenced by a sharp fall in share prices, and may consider further job cuts to manage costs.
Source: YAHOO
Reported 13 days ago
China is set to achieve a record trade surplus nearing $1 trillion this year, causing friction with major economies and potentially provoking tariffs from the incoming Trump administration. The surplus grew to $785 billion in the first ten months of 2024, driven by strong export performance amidst a weakening domestic demand. As countries worldwide, including the US and Europe, respond with tariffs, Beijing is pledging increased support for its industries to stabilize foreign trade and employment.
Source: YAHOO
Reported 13 days ago
Vodacom Group Ltd., Africa's largest phone company by market value, announced an 18% drop in net income for the first half of the year, attributing the decline to currency devaluations in Egypt and Ethiopia. Despite a slight increase in sales to 73.5 billion rand ($4.2 billion), net income fell from 8.39 billion rand to 6.84 billion rand. The company has also reduced its interim dividend by 7%. CEO Shameel Joosub remains optimistic about future opportunities despite the challenging macroeconomic conditions.
Source: YAHOO
Reported 13 days ago
Indonesia has initiated a six-month program for loan forgiveness aimed at certain micro, small, and medium enterprises (MSMEs), allowing them to erase bad debts from state banks to promote economic growth. President Prabowo Subianto emphasized the importance of supporting key sectors like agriculture and fishing while aiming to increase the country's annual economic growth. Eligible MSMEs with debts up to 500 million rupiah can now access new loans as the policy takes effect.
Source: YAHOO
Reported 14 days ago
Recently, Dogecoin has outperformed Bitcoin and other cryptocurrencies as speculation about President-elect Donald Trump's administration boosts investor enthusiasm. Over the past week, Dogecoin surged roughly 50%, fueled by promotion from figures like Elon Musk. Meanwhile, ADA from Cardano jumped over 60% after its founder proposed regulatory discussions. Analysts predict a positive impact on the crypto sector as Trump aims to ease regulations and support Bitcoin mining, despite uncertainties regarding the speed and feasibility of these changes.
Source: YAHOO
Reported 14 days ago
Delivery Hero SE is set to launch a significant IPO for its Talabat unit in Dubai, potentially one of the largest in the region this year. The German food delivery company plans to sell a 15% stake while retaining a majority interest, with projections estimating the offering could generate about $1 billion and value Talabat at around $12 billion. Shares will be available for order from November 19 to 27, with trading expected to begin around December 10. Talabat has seen substantial growth, raising concerns about competition but also highlighting its strong market presence across several Middle Eastern countries.
Source: YAHOO
Reported 14 days ago
Source: BARRONS
Reported 14 days ago
The S&P 500 reached a record high after surpassing the 6K mark for the first time, buoyed by a post-U.S. presidential election rally and supportive actions from the Federal Reserve. Technical analysis suggests the index is set for further gains, with a potential target of 6,500, while key support levels to monitor are around 5,900 and 5,670.
Source: YAHOO
Reported 14 days ago
Iron ore prices have dipped to around $100 per ton as recent efforts by Beijing to stimulate the economy have disappointed investors. An increase in Chinese port stockpiles indicates ample supply, while futures in Singapore fell following the announcement of a debt-swap plan that did not include direct measures to boost domestic demand. The iron ore market has seen a decline of over 25% this year due to China’s property downturn and increased miner supply.
Source: YAHOO
Reported 14 days ago
Vietnam has announced that Chinese e-commerce platforms Shein and Temu must register with the government by the end of November or face being blocked. Officials are concerned about local market impacts and counterfeit sales, leading the trade ministry to threaten technical measures if compliance is not met. Shein asserts its commitment to local laws, while Temu has yet to respond. This move comes amid broader scrutiny of foreign e-commerce companies in Vietnam, whose market is rapidly growing.
Source: YAHOO
Reported 14 days ago
Bitcoin surged past $81,000 following the election of Donald Trump as U.S. president, with expectations for a favorable regulatory climate for cryptocurrencies. The digital currency, which has more than doubled from its yearly low, is benefiting from Trump's pro-crypto stance and the success of pro-crypto candidates in Congress. Despite some cooling in other 'Trump trades,' the crypto market remains buoyed by hopes of deregulation and a shift away from strict oversight under the current SEC leadership.
Source: YAHOO
Reported 14 days ago
Chinese stocks in Hong Kong experienced a drop following a disappointing fiscal plan revealed during a key legislative meeting, failing to meet investor expectations for substantial stimulus to boost domestic demand and address deflation. The Hang Seng China Enterprises Index fell significantly, primarily impacting property and consumer stocks. Amid ongoing economic concerns, including low inflation and declining factory prices, foreign investment in China has also decreased, further reflecting investor pessimism as uncertainties loom over future trade policies.
Source: YAHOO
Reported 14 days ago
India's central bank plans to allow the rupee to weaken alongside the Chinese yuan after Donald Trump’s election win raised concerns over increased US tariffs. This potential depreciation aims to keep the rupee competitive amid fears that a falling yuan could further widen India's trade deficit with China. Analysts predict significant depreciation for the rupee in the coming year, which could benefit sectors like textiles and manufacturing while maintaining stability despite recent losses.
Source: YAHOO
Reported 14 days ago
Oil prices fell approximately 2% as China's stimulus failed to boost demand expectations, while the U.S. dollar strengthened, making dollar-denominated oil more expensive for foreign buyers. Brent crude futures dropped to $73.29 a barrel, with concerns about potential supply disruptions from a storm also easing. Analysts indicate that China’s weak inflation and growing fears of deflation will likely hinder oil demand growth in the country, contributing to the price drop.
Source: YAHOO
Reported 14 days ago
Shares of Resolute Mining Ltd. fell more than 30% following the unexpected detention of its CEO and two employees in Mali. The company, which operates the Syama mine, was engaged in discussions with local authorities about tax and mining revenue amid Mali's heightened efforts to renegotiate contracts with foreign mining firms. Despite the setbacks, Resolute assured that its employees are safe and that it is maintaining communication with them while aiming for a resolution with the Malian government.
Source: YAHOO
Reported 14 days ago
Toby Bartlett, the head of Point72 Asset Management's Japan operations, is set to step down early next year, prompting the firm to seek a successor. Following his departure, Bartlett will take on a consultancy role at the hedge fund established by Steve Cohen. Since joining Point72 in 2022, he has managed parts of the firm's Asia strategy and led recruitment efforts in Japan. The company, which currently manages $35.2 billion, plans to expand its presence in Japan, including moving to a larger office in Tokyo.
Source: YAHOO
Reported 14 days ago
The Bank of Japan's October policy meeting summary indicates a split among policymakers regarding the timing of potential interest rate hikes. While some members caution against rushing due to possible market volatility, others stress the importance of clearly communicating the bank's commitment to adjust rates as economic conditions improve. Despite maintaining ultra-low rates, the BOJ acknowledges that the risk surrounding the U.S. economy appears to be diminishing.
Source: YAHOO
Reported 14 days ago
Oil prices have continued to drop due to a weak demand outlook from China, the world's largest crude importer, and a strengthened dollar. West Texas Intermediate is down 3.3% to around $68 a barrel, while Brent crude is below $72. Key indicators suggest a decrease in short-term market tightness, worsened by a forecasted surplus next year and geopolitical tensions. Market participants are anticipating upcoming influential reports from OPEC and the U.S. Energy Information Administration.
Source: YAHOO
Reported 14 days ago
Japan's Prime Minister Shigeru Ishiba is expected to be re-elected in a parliamentary vote despite losing his party's majority in the recent national elections. With an upcoming meeting with U.S. President-elect Donald Trump, Ishiba's government faces challenges in passing significant legislation due to a weakened coalition. As he prepares for international summits, Ishiba may need support from the opposition to approve a proposed ¥13 trillion budget, with concerns regarding his leadership longevity and potential calls for his replacement within the party.
Source: YAHOO
Reported 14 days ago
China's recent economic rescue plan, which involves a $1.4 trillion bailout primarily for local government debt, has left global commodities markets in a state of uncertainty. While there was hope for stimulus measures to enhance domestic demand, the lack of such initiatives has led to a decline in prices for key raw materials like copper, iron ore, and crude oil. Analysts suggest that the current economic conditions may lead to a temporary boost in demand for certain metals, but structural challenges in the economy, including slower urbanization and demographic shifts, will likely hinder long-term recovery.
Source: YAHOO
Reported 14 days ago
The Philippine peso is expected to recover from its recent decline as a surge in overseas remittances typically boosts the currency during the Christmas season. Historical data shows that December sees the highest inflows of remittances, which have helped elevate the peso in six of the last seven years. Analysts predict a rise of over 5% by year-end, supported by lower oil prices and a manageable inflation rate in the Philippines. However, concerns over the strength of the US dollar and potential effects on remittances due to the new US administration's policies remain.
Source: YAHOO