Markets


Coinbase settles at $86bn value on Nasdaq, bitcoin touches new record 

Coinbase settles at $86bn value on Nasdaq, helping bitcoin hit new record 

(ATF) Cryptocurrency exchange Coinbase made its public equity market debut on Nasdaq on Wednesday April 14 and closed the day at a value of $86 billion, after reaching $112 billion at one point. A listing that highlighted how digital assets are going mainstream helped bitcoin hit a new record price …

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Cash-rich Xiaomi determined to boost its share price

Cash-rich Xiaomi determined to boost its share price

(ATF) With 108 billion yuan (US$16.5 billion) cash in hand, Xiaomi has recently entered the auto industry with a high-profile move and it is also repurchasing the company's shares in another big play.On April 13, Xiaomi Group repurchased just over 16 million of the company's shares at a cost of …

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Tencent Music, GSX, Vipshop launch buybacks to counter Archegos sales

Tencent Music, GSX and Vipshop launch buybacks to counter Archegos sales

(ATF) Tencent Music and Vipshop have launched share buybacks, while GSX Techedu chairman and CEO Larry Xiangdong Chen said he would use his own money to buy up to $50 million of its shares, as US-listed Chinese firms tried to counter the effect of over $20 billion of block sales …

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Are we beginning to see signs of a slowdown, Vikram Murarka asks

Are we beginning to see signs of a slowdown, Vikram Murarka asks

(ATF) If I might be forgiven a not entirely inaccurate generalisation, 12 months ago, when the Dow Jones plunged to 18,214, there were no bulls in the market. Today, the Dow Jones (at 32,628) trades just below a life-time high of 33,228, and now it seems there are no bears …

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Markets this week: PMIs, inflation and industrial data

Markets this week: PMIs, Inflation and Industrial data

(ATF) Economic eventsFinancial markets will begin trade on a soft note this week after central banks in the world’s two biggest economies sent hawkish messages. After the Federal Reserve’s decision denied an extension to a temporary capital buffer to banks, with their temporary supplementary leverage ratio changes expiring at the …

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Markets this week: Central bank meetings, bond yields

Markets this week: Central bank meetings, bond yields

(ATF) Economic eventsRising bond yields and intensifying volatility will drive investor sentiment in the week ahead as vaccine rollouts gather pace. The confidence that economic activity will normalise in the months ahead is also stoking concerns about inflation with markets signalling to central banks they may be behind the curve …

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Tesla surge pulls up Chinese EV stocks in tech sector rebound

Tesla surge pulls up Chinese EV stocks in tech sector rebound

(ATF) Tesla led a sharp rally in US technology stocks on Tuesday March 9 that pulled up prices for Chinese electric vehicle (EV) firms Nio and XPeng, and the Nasdaq rose 4% to recoup heavy losses from the previous session as US bond yields retreated.Tesla jumped 20% for the biggest …

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Oil spike, inflation fears sour mood

Oil spike, inflation fears sour mood

(ATF) Hong Kong: Inflation fears continued to haunt investors as investors looked past the US stimulus and upbeat data from the world’s largest economy and braced for higher interest rates.Oil markets were rocked after the world’s largest crude terminal in Saudi Arabia was attacked on Sunday by a drone from …

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SEC nominee Gensler vows GameStop review as Rocket shares soar

SEC nominee Gensler vows GameStop review as Rocket shares soar

(ATF) Gary Gensler, Biden’s nominee to lead the Securities and Exchange Commission (SEC), said at his Senate confirmation hearing on Tuesday March 2 that he would look into whether retail investors get the best prices when brokers are paid for their order flow.Gensler also said the SEC would explore issues …

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Rosewood hotels, casino magnate join Hong Kong SPAC mania 

Rosewood hotels, casino magnate join Hong Kong SPAC mania

(ATF) Hong Kong's luxury Rosewood Hotel Group is the latest company to join the Asia craze for Special Purpose Acquisition Company (SPAC) listings.Reuters reported that the unit of property developer New World Development (NWD) has enlisted Credit Suisse and JPMorgan to lead the US SPAC listing.In a typical SPAC transaction, …

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