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PBOC Moves Mark Start of Policy Framework Shift
0625 GMT - The Chinese central bank's latest moves seem to be cementing the monetary policy shift toward a single anchor, with the seven-day reverse repo rate being the benchmark rate, HSBC
US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.
Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.
Two officials of the Federal Reserve indicated that it is necessary to reform the discount window tool.
Boorman, a director of the Federal Reserve, and Logan, the president of the Dallas Federal Reserve, suggested that the Federal Reserve should assess to what extent its emergency lending tools can meet the liquidity needs of the banking system, implying the need to reform the discount window.
China Headwinds Signal Need to Bolster Consumer Confidence
China's latest economic data suggest continued supply-side momentum but challenges on the demand end, says Chaoping Zhu, global market strategist at J.P. Morgan Asset Management. Exports have grown
China's Third Plenum May Hold Less Weight This Year
China's Third Plenum, a traditionally significant policy-making event, to be held next week may not matter much this time, Maybank analysts say. With China facing an increasingly competitive,
How do high officials of the Federal Reserve view the significant cooling of inflation in the USA?
Two senior officials from the Federal Reserve spoke on Thursday, stating that inflation is making progress. The president of the St. Louis Reserve stated that the current policy interest rate is appropriate at this stage. The president of the San Francisco Reserve stated that given recent employment and inflation data, the Federal Reserve may need to make interest rate adjustments, but did not provide a specific schedule for rate cuts.
Ken-Opulence : Strongly advise, stay away HK Market stay away China Market, both Market are correlation with high policy market maker, no policy unable upward, once Market go up, "Grandpa" will come out funny issue to pressure down the market. Still putting hope this type of market!! Investors always FOMO but always forget FOLO (fear of losing out)