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Good morning mooers! Here are things you need to know about today's market:
●Tech-Driven Sell-Off Leads to Second Day of Market Retreat
●Malaysia's Revised MM2H Scheme Faces Criticism Over Stringent Requirements
●Anticipated Recovery in Malaysian Rubber Market Amid Adverse Weather and Global Tensions
●Stocks to watch: SunCon, Genting Plantations, MCE and CIMB
-moomoo News MY
Wall Street S...
●Tech-Driven Sell-Off Leads to Second Day of Market Retreat
●Malaysia's Revised MM2H Scheme Faces Criticism Over Stringent Requirements
●Anticipated Recovery in Malaysian Rubber Market Amid Adverse Weather and Global Tensions
●Stocks to watch: SunCon, Genting Plantations, MCE and CIMB
-moomoo News MY
Wall Street S...
![MY Morning Wrap | Sunway Construction's Subsidiary Lands RM418 Million Sub-Contract for Data Centre M&E Works](https://sgsnsimg.moomoo.com/feed_image/101000104/0fa6e671576b35f190115b51be5b52cd.webp/bigjpg)
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Columns The dollar and Asian stocks declined after Biden announced his withdrawal from the election (1)
The US dollar and Asian stock markets declined. Biden previously announced his withdrawal from the 2024 US presidential election and supported He Jinli to take over the fight.
Bloomberg US Dollar Spot Index $USD(USDindex.FX$The Mexican peso climbed as it fell 0.2% on Monday.
In the face of continuous pressure from within the Democratic Party, Biden had to give up his re-election campaign and withdraw from the November general election. The Japanese and South Korean stock markets opened lower, and the Australian stock market also weakened. Hong Kong stock index futures remained stable.
$Korea Composite Index(.KOSPI.KR$
$Nikkei 225(.N225.JP$
$S&P/ASX 200(.XJO.AU$
$Hang Seng Index(800000.HK$
The question facing investors is whether it is still necessary to stick to the Trump deal since Biden has given up his re-election campaign.
The market is likely to fluctuate greatly. Traders are waiting to see if He Jinli can be nominated by the party, and at the same time weigh whether she can gather enough momentum to challenge Trump's current leading position in the polls.
“People's subconscious reaction is that this is bad for the dollar, but it's still too early to draw conclusions,” said Olga Yangor, head of emerging market research and strategy at Crédit Agricole.
“This will largely depend on He Jinli's initial appearance, her choice of running partner, and swing state polls.”
On the commodities side, crude oil and gold prices rose in early trading.
Biden withdrew from the market...
Bloomberg US Dollar Spot Index $USD(USDindex.FX$The Mexican peso climbed as it fell 0.2% on Monday.
In the face of continuous pressure from within the Democratic Party, Biden had to give up his re-election campaign and withdraw from the November general election. The Japanese and South Korean stock markets opened lower, and the Australian stock market also weakened. Hong Kong stock index futures remained stable.
$Korea Composite Index(.KOSPI.KR$
$Nikkei 225(.N225.JP$
$S&P/ASX 200(.XJO.AU$
$Hang Seng Index(800000.HK$
The question facing investors is whether it is still necessary to stick to the Trump deal since Biden has given up his re-election campaign.
The market is likely to fluctuate greatly. Traders are waiting to see if He Jinli can be nominated by the party, and at the same time weigh whether she can gather enough momentum to challenge Trump's current leading position in the polls.
“People's subconscious reaction is that this is bad for the dollar, but it's still too early to draw conclusions,” said Olga Yangor, head of emerging market research and strategy at Crédit Agricole.
“This will largely depend on He Jinli's initial appearance, her choice of running partner, and swing state polls.”
On the commodities side, crude oil and gold prices rose in early trading.
Biden withdrew from the market...
Translated
![The dollar and Asian stocks declined after Biden announced his withdrawal from the election (1)](https://sgsnsimg.moomoo.com/sns_client_feed/103267505/20240722/1721619695527-b1c11370f2.jpeg/thumb?area=104&is_public=true)
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On Thursday, Gamuda announced the securing of an AUD 1.6 billion (MYR 5 billion) contract, causing its share price to soar to a historic high. Although the stock price experienced a slight dip on Friday, it has still risen by more than 80% since the beginning of the year.
Although investors have responded positively to the contract, their reactions have been tempered as they have been expecting Gamuda to sign this a...
Although investors have responded positively to the contract, their reactions have been tempered as they have been expecting Gamuda to sign this a...
![Gamuda Hits Record High: Analysts Optimistic About Malaysia's Construction Sector](https://sgsnsimg.moomoo.com/sns_client_feed/101000104/20240719/d8be926c8e384ed6a5d1f1060bf717bc.jpg?area=101&is_public=true)
![Gamuda Hits Record High: Analysts Optimistic About Malaysia's Construction Sector](https://sgsnsimg.moomoo.com/sns_client_feed/101000104/20240719/e52cb4a4acd341b2822756c7099f4289.jpg?area=101&is_public=true)
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Columns Buy Meta?
Although the social media industry is competitive, Meta Platforms $Meta Platforms(META.US$ stands out with some of the oldest and most recognizable players in the game. Despite its market cap exceeding USD 1 trillion, the company maintains a dominant position with platforms like Facebook, Instagram, and WhatsApp, supported by 3.24 billion daily active users.
Meta has multiple growth paths. The company makes almost all its money from advertising, and despite a slowdown in the online a...
Meta has multiple growth paths. The company makes almost all its money from advertising, and despite a slowdown in the online a...
![Buy Meta?](https://sgsnsimg.moomoo.com/sns_client_feed/102397652/20240719/1721404079074-random2898-102397652-android-org.jpeg/thumb?area=104&is_public=true)
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U.S. stocks pulled back Friday, as the largest IT crash in history sent tech even lower for the week following a semiconductor sector pullback.
The $Nasdaq Composite Index(.IXIC.US$ declined 0.81, with the $S&P 500 Index(.SPX.US$ down 0.71%, and the $Dow Jones Industrial Average(.DJI.US$ 0.93%. All sectors except healthcare were down intraday.
MACRO
Friday, investors are watching for Federal Reserve commentary. Thurs...
The $Nasdaq Composite Index(.IXIC.US$ declined 0.81, with the $S&P 500 Index(.SPX.US$ down 0.71%, and the $Dow Jones Industrial Average(.DJI.US$ 0.93%. All sectors except healthcare were down intraday.
MACRO
Friday, investors are watching for Federal Reserve commentary. Thurs...
!['Blue Screen of Death' Adds to Tech Pain on Summer Friday | Wall Street Today](https://ussnsimg.moomoo.com/sns_client_feed/77777011/20240717/1721161187004-3fe5f058dd.png/thumb?area=999&is_public=true)
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