Japanese stocks within reach of record highs, and yet inexpensive
As Japanese stocks approach record levels last seen in the 1989 bubble-era, valuation metrics suggest they are still far from overpriced compared to historic levels and global peers.
February 2024
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Asia FX weak, dollar steady after hawkish Fedspeak, strong labor data
Most Asian currencies fell on Friday, while the dollar steadied from recent losses as hawkish signals from the Federal Reserve and strong U.S. labor data cast more doubts over early U.S. rate cuts.
Gold prices remain rangebound as early rate cut bets wane
Gold prices moved little in Asian trade on Friday and remained well within a recently-established trading range amid increasing conviction that the Federal Reserve will not cut interest rates early in 2024.
Bakkt and Swan Bitcoin expand trading across most US states
Gavin Michael, CEO of Bakkt, expressed enthusiasm about the partnership’s progress and hinted at potential future endeavors, including possible international market expansions. This move marks a significant milestone for both companies as they seek to increase their footprint in the digital currency space.
Nikkei parties like it’s 1989; scales record high
The index is up almost 17% this year after surging 28% in 2023, when it was the best performing Asian major bourse. The tech-heavy Nasdaq, by comparison, soared 43% last year and is up 6% so far in 2024.
Asia FX weakens, dollar steady as Fed signals no hurry to cut rates
Most Asian currencies retreated on Thursday, while the dollar stemmed recent losses as a slew of signals from the Federal Reserve showed that the central bank was likely to keep interest rates high in the near-term.
Gold prices rangebound as Fed reiterates higher-for-longer rates
Gold prices rose slightly in Asian trade on Thursday, but remained largely within a recent trading range as a slew of signals from the Federal Reserve reiterated the prospect of higher-for-longer U.S. interest rates.
Crypto firm Circle to end support for USDC stablecoin on Tron blockchain
Boston-based Circle said in a blog that, effective immediately, it would no longer mint USDC tokens on Tron, a fast-growing platform widely used for transferring stablecoins whose founder is facing regulatory problems in the United States.
Australia stocks higher at close of trade; S&P/ASX 200 up 0.04%
The best performers of the session on the S&P/ASX 200 were Insignia Financial Ltd (ASX:IFL), which rose 13.72% or 0.31 points to trade at 2.57 at the close. Meanwhile, Bega Cheese Ltd (ASX:BGA) added 13.52% or 0.48 points to end at 4.03 and Fletcher Building Ltd (ASX:FBU) was up 9.01% or 0.30 points to 3.63 in late trade.
China’s Lenovo posts Q3 revenue growth, beats analyst estimates
China’s Lenovo Group (OTC:LNVGY), the world’s largest maker of personal computers, on Thursday reported October-December revenue of $15.72 billion, up 3% from the same period a year earlier.