Asian markets have largely followed the positive trend set by Wall Street, although Chinese stocks are facing difficulties sustaining a rally. Japan’s Nikkei soared by 1.5%, while the broadest index of Asia-Pacific shares outside Japan, MSCI, rose by 0.2%. However, gains in Australia and South Korea were offset by a 0.2% decline in Hong Kong’s
The AUD/JPY cross is experiencing a positive trend for the third consecutive day, reaching a fresh weekly high around the 96.85 region during the Asian session on Thursday. This upward momentum, however, must be approached with caution as spot prices remain within a well-established trading range. Traders should exercise prudence before committing to an extension
China is taking significant steps to enhance the experience of foreign tourists and business people by encouraging banks and local businesses to accept foreign bank cards and making mobile payments more accessible. These efforts aim to improve convenience and promote financial inclusion for international visitors. Zhang Qingsong, the deputy governor of the People’s Bank of
Chinese stocks are expected to experience a significant increase of at least 10% in the coming days, according to Marko Papic, partner and chief strategist at Clocktower Group. The Chinese securities regulator has been making efforts to bolster investor confidence through various public statements, including state-backed purchases. A recent report from Bloomberg revealed that Chinese
In a bearish scenario, sales are expected to be below 78.99. The first take profit level is set at 77.93, followed by a second take profit level at 77.45. If the price breaks out below 76.56, the third take profit level is at 76.56, and the fourth take profit level is at 75.70. To manage
Economists are predicting that the Leading Economic Index will rise from 107.6 to 109.4 in December. This positive outlook for the Japanese economy could potentially support buyer demand for the Yen. However, it is important to note that the impact of the Leading Economic Index on the Bank of Japan’s plans to exit negative interest
The landscape of television is rapidly changing, and media companies are adapting to capture the attention of younger viewers who are not tuned in to traditional TV. Fox Corp, Walt Disney’s ESPN, and Warner Bros Discovery have announced the launch of a sports streaming service that aims to cater to the interests of sports fans.
Eurozone Retail Sales experienced a sharp decline of 1.1% MoM in December, marking its steepest fall in a year. This unexpected drop came as a significant blow to the euro. Additionally, on an annual basis, Eurozone Retail Sales also saw a decline of 0.8% YoY in December. These figures were worse than market expectations, emphasizing
The Pound Sterling (GBP), despite briefly showing signs of recovery, continues to struggle against the backdrop of a bearish market sentiment. This struggle is compounded by the cautious approach of the Federal Reserve (Fed) towards interest rate cuts, further dampening the appeal of risk-sensitive assets. Additionally, the UK economy teeters on the brink of a
UBS, one of the world’s largest wealth managers, has exceeded fourth-quarter earnings expectations. Despite consecutive losses due to Credit Suisse integration, the bank reported a narrower net loss of $279 million, surpassing the forecasted loss of $372 million. This impressive performance has led to a significant share buyback plan worth $1 billion and a 27%
Swiss banking giant UBS reported a net loss for the fourth quarter of the previous year but narrowly beat analysts’ expectations. Despite posting a loss for the second consecutive quarter due to integration costs related to fallen rival Credit Suisse, UBS plans to recommence share buybacks worth up to $1 billion in the second half
The Central Bank of Australia announced today that it will maintain the current interest rate of 4.35%, as anticipated by analysts. However, the bank’s management raised concerns about persistently high inflation and hinted that further rate hikes may be necessary. This cautious yet firm stance indicates that any possibility of policy easing in the near