Intervention threat curbs dollar's ascent towards new high on the yen
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#080c8e6b ver:1.0
The Japanese yen weakened further on Wednesday, falling to a four-month low against the US dollar and a 16-year low against the euro. This comes after the Bank of Japan (BOJ) announced its decision to end its negative interest rate policy and yield curve control. Despite this shift in policy, the BOJ indicated that it expects to maintain accommodative conditions for the time being, keeping pressure on the yen. Investors interpreted the BOJ's messaging to mean that any further tightening will be gradual, leading to the yen's continued weakness. On Wednesday, the yen weakened to a four-month low of 151.34 per dollar and was last off 0.30% at 151.28. Against the euro, the yen weakened to 164.35, its lowest level since 2008. The yen's weakness is in line with the stronger performance of Japane...
#newstr #Dollar #Yen #CurrencyIntervention #InterestRates #Economy
WTI crude oil gains ground above $81.00 mark on weaker US Dollar and OPEC+ production cuts
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#12d86ea3 ver:0.42
Oil prices were broadly steady on Thursday, supported by a surprise drop in US crude stock and the US Federal Reserve's commitment to rate cuts. Brent crude futures for May decreased by 0.4% to $85.64 a barrel, while US West Texas Intermediate (WTI) futures for May fell by 0.4% to $80.97 a barrel. Crude inventories in the US declined for the second consecutive week, dropping by 2 million barrels to 445 million barrels in the week ending March 15. Gasoline inventories also fell for the seventh week, down by 3.3 million barrels to 230.8 million. The market was also influenced by concerns over Ukrainian attacks on Russian refineries impacting global petroleum supplies.
Oil prices settled slightly lower on Thursday, with Brent crude futures for May settling down 17 cents, or 0.2%, to $85.78 ...
#newstr #WtiCrudeOil #Opec+ #UsDollar #GeopoliticalTensions #MiddleEast
US Retail Sales Exceed Expectations, NRF Projects Moderate Growth in 2024 Amid Rising Crime and Counterfeiting Concerns
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#347aa46b ver:0.84
US retail sales for December 2023 exceeded expectations, rising by 0.6% from November to $615 million. This increase was 0.3% higher than November's sales, indicating the resilience of American shoppers and a positive financial start to the new year. Out of the 13 categories monitored, nine experienced sales increases, including clothing, fashion accessories, and non-store retailers. However, health and personal care shops saw a 1.4% decrease, and petrol station sales were down by 1.3%. Automotive and fuel sales increased by 4.9% annually, while spending at petrol stations dropped by 11.5% due to falling fuel prices. The strong retail sales figures may influence the US Federal Reserve to maintain its current interest rates.
Retail sales in the US rebounded in February, rising by 0.6% afte...
#newstr #UsRetailSales #NrfForecast #SupplyChainFlexibility #Walmart #Crime #Counterfeiting
US Stocks Rally on Dovish FOMC, Eyes on Pivotal Core PCE Inflation Data
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#8e73873c ver:0.24
US stocks rallied after a dovish FOMC meeting, with the Nasdaq finishing 2.98% higher, the S&P 500 adding 2.29%, and the Dow Jones adding 761 points (+1.97%). The Fed Chair noted that firmer inflationary data had not changed its overall trend lower and that the path of inflation towards its 2% target will be a 'bumpy road'. Atlanta Fed President Bostic said he now expects just one rate cut this year based on the US economy's resilience. This suggests there might be less tolerance for an upside surprise in this week's Core PCE inflation number. The Core PCE price index is expected to rise by 0.3% MoM, leaving the annual core rate of inflation at 2.8%. Technical analysis shows that the S&P 500 and Nasdaq are expected to continue their upward trend, with support levels at 5180 and 5100 for th...
#newstr #UsStocks #Fomc #CorePceInflation #Nasdaq #S&p500 #DowJones
Fitch Downgrades China Vanke's Credit Rating to Junk
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#70093804 ver:0.06
Moody's Investors Service has downgraded China's credit rating outlook to 'negative' due to a slowing economy, increasing local government debts, and a slump in the property market. The agency also downgraded the credit outlooks for Hong Kong and Macau. Fitch Ratings and S&P have issued warnings on the rising risks associated with China's property market. Taiwanese banks and insurance companies have reduced their exposure to China. The Chinese Nationalist Party (KMT) has urged the Democratic Progressive Party (DPP) to abandon its Taiwanese independence platform. Taiwan plans to sign a memorandum of understanding with India to recruit Indian workers. Taiwan People's Party (TPP) Chairman Ko Wen-je is considering forming an electoral alliance with the KMT.
Moody's negative outlook on China's...
#newstr #China #CreditRating #Moody's #FitchRatings #ChinaVanke
Macau's GDP Reaches 80% of Pre-Pandemic Level in 2023, While Horse Racing Faces Termination
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#eafdb61d ver:0.18
Deleveraging "will take time" for some of the Macau casino operators, despite the improvements in the sector's business outlook, according to Fitch Ratings Inc. Fitch expects Macau's gaming industry to improve in 2024, with a steady recovery in inbound tourism. The recent influx of tourists is likely to boost casinos' gross gaming revenue (GGR), with the mass-market segment already registering revenues in Q4 2023 that exceeded 2019 levels by 4 percent. However, the VIP segment is on a slower path to recovery and is unlikely to return to pre-pandemic revenue levels in the near future .
Overall visitor arrivals to Macau during the eight-day Chinese New Year festivities reached almost 1.36 million. The average hotel occupancy rate for the period stood at 95.2 percent. The Macau casino market...
#newstr #Macau #HorseRacing #MacauJockeyClub
Frankfurt Celebrates Ramadan with Festive Lights, Special Wishes, Mass Iftar Parties, and Interfaith Unity
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#723ec457 ver:0.24
The German city of Frankfurt illuminated its streets with festive lights on Sunday to celebrate the Muslim holy month of Ramadan . This celebration is reported to be a nationwide first and highlights the city's recognition and support for the Muslim community during this important time. The lights serve as a visual representation of the joy and significance of Ramadan, creating a festive atmosphere for residents and visitors alike. The display of the 'Happy Ramadan' sign over a street in Frankfurt further symbolizes the city's embrace of diversity and inclusivity .
The celebration in Frankfurt aligns with the global observance of Ramadan, which began on Sunday night . Ramadan is a sacred month for Muslims worldwide, commemorating the first revelation of the Quran to the Prophet Muhammad. ...
#newstr #Ramadan #Frankfurt #Germany #InterfaithUnity #IftarParties #HongKong #UaeConsulateGeneral #IslamicKasimTuetMemorialCollege
Hong Kong's National Security Law Comes into Effect, Sparking Protests and International Criticism
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#b80b1c2b ver:0.27
Protesters abroad, including in London and Taiwan, have rallied against Hong Kong's new national security law. In London, demonstrators gathered outside the British Foreign Office, many of them Hong Kong residents, wearing masks for fear of reprisals. The protesters included Finn Lau, one of eight foreign activists against whom Hong Kong officials issued an arrest warrant last July. Benedict Rogers, head of the rights group Hong Kong Watch, expressed concerns about the law's potential to impose 'extremely severe prison sentences' and violate the Sino-British Joint Declaration. In Taiwan, protesters staged a symbolic fight between people wearing costumes of a Formosan Black Bear and Winnie the Pooh, representing Taiwan and Chinese President Xi Jinping, respectively. The new law, known as Ar...
#newstr #HongKong #NationalSecurityLaw #Protests #InternationalCriticism
PlayDapp Announces Mainnet Launch: User-Friendly Blockchain for Ecosystem
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#cecdcfba ver:0.04
In a recent announcement, PlayDapp revealed its plans to launch its blockchain mainnet on April 11th. The mainnet will operate as an independent chain with self-verification nodes and will be powered by Avalanche, a blockchain known for its low transaction costs and high scalability. PlayDapp aims to foster the development and expansion of its ecosystem by onboarding various Web3 gaming projects. The mainnet will utilize PDA tokens as the native currency, eliminating the need for users to pay gas fees in Ethereum or Polygon. Additionally, the mainnet will feature a Decentralized Autonomous Organization (DAO) voting system, allowing PDA token holders to participate in key decisions. PlayDapp has previously demonstrated NFT interoperability through collaborations with partners like Samsung E...
#newstr #Playdapp #Blockchain #Mainnet #Web3Gaming #Avalanche #PdaTokens #Dao #NftInteroperability
Hong Kong Property Market Rebounds as Developer Wang On Seizes Market Opportunities
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#664879c2 ver:0.2
Hong Kong's property market is showing signs of recovery as weekend property transactions reach a three-year high. Last weekend, the 10 largest residential estates in Hong Kong saw a total of 37 apartments change hands, marking a 48% increase from the previous week. This surge in home sales follows the government's decision to remove cooling measures and extra property levies in an effort to boost the market .
The removal of these measures has had a significant impact on the market, with new-home sales increasing tenfold in the first five days after the cooling measures were lifted, compared to two months ago .
This rebound in the property market is seen as a positive outcome of the government's efforts to revitalize the stagnant property market and stimulate economic growth. The lifting...
#newstr #HongKong #PropertyMarket #WangOnProperties #RealEstate #HospitalitySector
Massive Sovereign Wins Hong Kong Derby in Epic Finish, Danny Shum's Japan Trip Lays Platform for Romantic Warrior's Yasuda Kinen Tilt
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#287589aa ver:0.15
In a thrilling race that captivated horse racing fans, Massive Sovereign emerged as the victor in the Hong Kong Derby. The prestigious race took place at Sha Tin on March 24, 2024, and saw jockey Zac Purton claim his second Hong Kong Derby victory .
Starting as the second favorite, Purton made a brilliant ride on Massive Sovereign, coming from second last to surge to the front in the final 50 meters. The overall time of 1:59.85 was the fastest in a Derby since it was switched to 2,000 meters in 2000. Purton expressed his relief and honor to win the race, considering it the most prestigious race in Hong Kong .
Massive Sovereign, previously known as Broadhurst, won the Derby at just his second Hong Kong start. The horse has shown great potential and a good attitude since arriving in Hong K...
#newstr #HongKongDerby #MassiveSovereign #ZacPurton #DannyShumChapshing #RomanticWarrior #YasudaKinen #GroupOne #Tokyo #CoxPlate #HongKongCup #GoldCup #QeIiCup #Japan #LibertyIsland #Prognosis #DennisYipChorhong #BmwHongKongDerby #JockeyClub #JoaoMoreira #CasparFownes #DerekLeung #TakamatsunomiyaKinen
Taiwan's Chip Industry Boosts Ferrari Sales as Chip Entrepreneurs Drive Demand
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#28a720f2 ver:0.11
Shares in Taiwan's chipmakers saw an increase following President-elect Lai Ching-te's commitment to further strengthen the semiconductor industry. Lai, from the ruling Democratic Progressive Party (DPP), secured an unprecedented third consecutive presidential term. He plans to continue the policies of his predecessor to reassure global allies that chip production in Taiwan is secure. This announcement comes after foreign investors sold Taiwanese stocks ahead of the election. The stock market responded positively to investor expectations .
Taiwan's chip industry has been a key driver of the country's economic growth. The commitment from President-elect Lai to boost the semiconductor industry is expected to further enhance Taiwan's position as a global leader in chip production. The rise i...
#newstr #Taiwan #ChipIndustry #Ferrari #Sales #SemiconductorIndustry
Asian Shares Trade Mixed as Investors Monitor Economic Data and Currency Movements
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#d58d5628 ver:0.94
Asian shares traded within narrow ranges on Monday as investors looked ahead to a busy week of economic data, including the Federal Reserve's preferred inflation gauge. Shares in Australia and Hong Kong edged higher, while those in Japan and mainland China slipped. US equity futures were little changed after a muted end to the week on Wall Street. The offshore yuan strengthened on signs of official support after China's central bank set a stronger-than-expected daily reference rate. The yen strengthened after Japan's top currency official warned about excessive currency speculation and said authorities were prepared to take action if needed. The dollar edged lower following a recent run of gains, with all major currencies strengthening against the greenback. Investors will be monitoring a ...
#newstr #AsianShares #UsInflation #InterestRates #YenWeakness #CurrencyIntervention #PceData #FederalReserveRateCut #Equities #CentralBanks #Dollar #Gold #OilPrices
Rethinking Public High Schools to Bridge the Gap in STEM Jobs
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#aec373c7 ver:0.04
The reclassification of Goizueta Business School’s Bachelor of Business Administration (BBA) degree as STEM is aimed at aiding international students in extending their U.S. residency post-graduation . However, this policy establishes an implicit academic hierarchy and undermines America’s interests by prioritizing STEM students over humanities students . The article argues that accepting immigrants of all kinds benefits humanitarian causes and the U.S. economy . The approach of designating academic programs as STEM for convenience is seen as a problematic testament to an education system bending to accommodate a flawed immigration policy . The article calls for a more inclusive approach that supports an array of humanities and non-STEM majors and advocates for equitable immigration provis...
#newstr #StemEducation #BbaDegree #Immigration #HighSchools #StamfordAmericanSchool
Hong Kong Completes Article 23 Legislation Amid Controversy and Support
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#2eb50c32 ver:0.68
Hong Kong Chief Executive John Lee Ka-chiu met with Xia Baolong, director of the Hong Kong and Macau Affairs Office (HKMAO), in Shenzhen, just two days after the passage of the Article 23 national security law. The meeting, which was announced by the administrative agency, was attended by Secretary for Justice Paul Lam Ting-kwok, security chief Chris Tang Ping-keung, and Director of the Chief Executive Office Carol Yip Man-kuen. Four HKMAO vice ministers and Xia Baolong, who also serves as director of Beijing's liaison office in Hong Kong, were also present. Xia had previously visited Hong Kong to discuss the proposed Article 23 law. The new national security law, which consists of 39 offenses divided into five categories, is set to take effect on Saturday .
The passage of the Article 23 ...
#newstr #HongKong #Article23 #OneCountryTwoSystems #NationalSecurity #Legislation
Hong Kong Stocks Edge Higher Ahead of Key US Data
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#133aea61 ver:0.52
Hong Kong stocks began Monday's trading session slightly higher as traders prepared for the release of key US data later in the week. The Hang Seng Index added 0.20 percent, or 32.48 points, to reach 16,531.95 at the opening. Meanwhile, the Shanghai Composite Index dipped 0.25 percent, or 7.53 points, to 3,040.50, and the Shenzhen Composite Index fell 0.30 percent, or 5.40 points, to 1,776.89. The upcoming US data includes reports on inflation and consumer sentiment. ...
#newstr #HongKong #Stocks #UsData
Top Stories on HERE.news in this hour...https://imagedelivery.net/665GHToRzycMVwZ9VsJNfA/7e80079c-499e-4f4d-4fac-236fe03ed900/public
AuKing Mining Signs MoU to Develop Mineral Projects in Saudi Arabia, Contributing to Vision 2030
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#b7bd07dd ver:0.14
Anglo American's Woodsmith Project, a polyhalite mine near Whitby, has contributed over £1.5 billion to the regional economy since construction started in 2017. In 2023, the project generated an additional £305 million to the region's economy. The project currently employs over 1,400 local people, which is 70% of the total workforce. The company has also launched a new educational outreach program and supported the creation of 73 new local business start-ups. The new education program, Achieve, is supporting students across Redcar and Cleveland, Whitby, and Scarborough. Anglo American aims to build a long-term economic legacy in the region and improve people's lives through mining .
His Majesty King Mswati III visited the green chert mine at Malolotja and encouraged the management and sta...
#newstr #AukingMining #BargAlsamanMiningCompany #SaudiArabia #MineralProjects #Collaboration #Vision2030 #Diversification #ForeignInvestment #FeasibilityStudy #MiningIndustry
Australian journalist Cheng Lei reflects on her experience after detention in China, Australian academic Sean Turnell recounts his time in a Myanmar jail, Australian citizen Daniel Duggan is detained in prolonged isolation at the behest of the US, an Australian man is jailed for foreign interference in favor of China, and a Chinese pastor struggles to obtain ID after release from prison
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#def275ce ver:0.15
Australian journalist Cheng Lei, who was recently released after three years of detention in Beijing, spoke about her experience in her first interview with Sky News Australia . Cheng described feeling alternately fragile like a newborn and feeling like she could fly. She was reunited with her children in Melbourne after being released and expressed her heartbreak at seeing her mother aged and weakened from raising the children in her absence .
Cheng, a former business television anchor for Chinese state television, was detained in 2020 for allegedly sharing state secrets. She could not divulge details about her case but admitted to sharing a government briefing document before going on-air, which is considered a serious offense in China .
Cheng expressed gratitude to the Australian gove...
#newstr #Australia #China #Journalist #Detention #Myanmar #Academic #Imprisonment #Detention #ForeignInterference #ChinesePastor #Id
Australian journalist Cheng Lei reflects on her experience after detention in China, Australian academic Sean Turnell recounts his time in a Myanmar jail, Australian citizen Daniel Duggan is detained in prolonged isolation at the behest of the US, an Australian man is jailed for foreign interference in favor of China, and a Chinese pastor struggles to obtain ID after release from prison
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#def275ce ver:0.15
Australian journalist Cheng Lei, who was recently released after three years of detention in Beijing, spoke about her experience in her first interview with Sky News Australia . Cheng described feeling alternately fragile like a newborn and feeling like she could fly. She was reunited with her children in Melbourne after being released and expressed her heartbreak at seeing her mother aged and weakened from raising the children in her absence .
Cheng, a former business television anchor for Chinese state television, was detained in 2020 for allegedly sharing state secrets. She could not divulge details about her case but admitted to sharing a government briefing document before going on-air, which is considered a serious offense in China .
Cheng expressed gratitude to the Australian gove...
#newstr #Australia #China #Journalist #Detention #Myanmar #Academic #Imprisonment #Detention #ForeignInterference #ChinesePastor #Id