Date
24 April 2018

Markets

  • The inquiry into bitcoin and other virtual currencies will consider whether the government is striking the right balance between protecting customers and businesses without stifling innovation. Photo: AFP

    British lawmakers launch inquiry into cryptocurrencies

    Feb 22, 2018 9:13am
    Britain’s cross-party Treasury Select Committee of lawmakers said it is launching an inquiry into digital currencies, as well as the underlying distributed ledger technology, Reuters reports. The probe will focus on the opportunities and risks posed...
  • Traders work on the floor of the New York Stock Exchange shortly after the opening bell on Wednesday. Photo: Reuters

    US stocks fall as Fed minutes send bond yields higher

    Feb 22, 2018 9:13am
    US stocks finished lower in a choppy session Wednesday on renewed worries over higher interest rates following the release of minutes from the Federal Reserve’s January meeting. Investors became nervous as the yield on the benchmark 10-year...
  • News that South Korea’s financial regulator is easing its stance on bitcoin and other cryptocurrencies has given traders confidence to buy, analysts said. Photo: AFP

    Bitcoin nearly doubles in value from year’s low

    Feb 21, 2018 8:48am
    Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its recovery continued after South Korea’s financial regulator eased its stance on cryptocurrencies, Reuters reports. Choe...
  • Lawmakers are concerned that cryptocurrencies could threaten the US economy. Photo: Reuters

    US Congress sets sights on federal cryptocurrency rules

    Feb 20, 2018 8:58am
    US lawmakers are moving to consider new rules that could impose stricter federal oversight on bitcoin and other cryptocurrencies, Reuters reports, citing several top lawmakers. Bipartisan momentum is growing in both houses of Congress for action...
  • Following Thursday's slide, major US indexes are down more than 10% from their Jan.26 all-time highs, meaning the market is now in correction territory. Photo: Reuters

    US stocks plunge again; market in correction territory

    Feb 9, 2018 9:00am
    US stocks suffered another big selloff on Thursday, with the Dow Jones Industrial Average tumbling more than 4 percent, as investors fretted about rising bond yields and the market’s recent volatility. The Dow finished 1,032.89 points,...
  • Markets remain skittish after the Dow on Monday suffered its largest single-day percentage loss in more than six years. Photo: Reuters

    US stocks end lower as uncertainty reigns

    Feb 8, 2018 9:25am
    US stocks finished lower on Wednesday after early gains, with investors remaining cautious after the recent market slide and hedging their bets. Technology and energy sectors took a beating, while financials and industrials helped provide some...
  • J. Christopher Giancarlo, chairman of the Commodity Futures Trading Commission, speaks during a Senate banking committee hearing in Washington DC on Tuesday. The panel is looking into issues related to regulation of virtual currencies. Photo: Bloomberg

    Bitcoin bounces back from three-month low in choppy trade

    Feb 7, 2018 9:31am
    Bitcoin bounced back from three-month lows on Tuesday, moving past US$8,000 at one point during the day before settling below that level in volatile trading. On the Luxembourg-based Bitstamp exchange, the virtual currency hit a high...
  • Traders celebrate after the closing bell at the New York Stock Exchange on Tuesday. Photo: Reuters

    Wall Street roars back in volatile session

    Feb 7, 2018 8:23am
    US stocks posted sharp gains in another wild trading session, as indexes rebounded from the biggest one-day drops for the S&P 500 and the Dow in more than six years that stalled the market’s record run,...
  • A man looks at share prices at the Tokyo Stock Exchange on Tuesday. Photo: Reuters

    Market selloff deepens as fear spreads across Asia

    Feb 6, 2018 3:37pm
    A rout in global equities deepened in Asia on Tuesday as inflation worries gripped financial markets, sending US stock futures sinking further into the red after Wall Street suffered its biggest decline since 2011, Reuters reports....
  • The Shanghai Composite Index slumped 3.4 percent to 3,370.65 points, its biggest single-day drop since February 2016. Photo: Reuters/China Daily

    Shanghai stocks post biggest loss in two years

    Feb 6, 2018 3:35pm
    China stocks tumbled on Tuesday as a global market rout intensified, with the Shanghai index posting its biggest loss in nearly two years on worries that inflationary pressures will prompt central banks to raise rates faster...
  • A rout in global equities prompted anxious investors to cut exposure to riskier assets and seek shelter in the relative safety of the greenback. Photo: Bloomberg

    US dollar holds firm as investors scurry to safety

    Feb 6, 2018 3:33pm
    The dollar stood tall on Tuesday as a rout in global equities prompted anxious investors to cut exposure to riskier assets and seek shelter in the relative safety of the greenback. The US currency held firm...
  • The new trade link between Singapore Exchange (pictured) and Bursa Malaysia would allow investors to trade and settle shares listed on each other’s stock market in a more convenient and cost-efficient manner. Photo: Reuters

    Singapore, Malaysia unveil plans to link stock markets

    Feb 6, 2018 3:20pm
    Singapore and Malaysia announced plans on Tuesday for a new trading link between their stock markets by the end of the year that will help lower trading costs and encourage cross-border investments, Reuters reports. It comes...
  • The Hong Kong stock market suffered a drop that was only half as much as the Dow Jones, thanks to the strong – and mysterious – capital flow from across the border. Photo: AFP/HKEJ

    When the bull in Year of Rooster turns into bear in Year of Dog

    - Feb 6, 2018 2:46pm
    The first time it happened, it was scary. The second time, not so much. Now, are you scared or not? Half of the local papers splashed on how resilient the Hong Kong stock market was, suffering...
  • Bitcoin has lost about half its value so far in 2018, as more governments and banks signal their intention for a regulatory crackdown. Photo: AFP

    Bitcoin extends slide, falls below US$7,000

    Feb 6, 2018 8:36am
    Digital currency bitcoin fell more than 15 percent on Monday to a nearly three-month low amid a slew of concerns ranging from a global regulatory clampdown to a ban on using credit cards to buy bitcoin...
  • The stock market crumbled as investors grappled with rising bond yields and potentially firming inflation. Photo: Reuters

    Wall Street plunges, S&P 500 erases 2018 gains

    Feb 6, 2018 7:10am
    US stocks plunged in highly volatile trading on Monday, with the Dow industrials falling nearly 1,600 points during the session, its biggest intraday decline in history, as investors grappled with rising bond yields and potentially firming...
  • We have already reached the point where a bitcoin crash could have serious global implications. Photo: Bloomberg

    The bitcoin threat

    - Feb 5, 2018 9:27am
    The extraordinary volatility of bitcoin and other cryptocurrencies has become a threat not just to the international financial system, but also to political order. The blockchain technology upon which cryptocurrencies are based promises a better and...
  • JPMorgan is among the US banks that have barred customers from using their credit cards for purchases of cryptocurrencies. Photo: Bloomberg

    Big US banks ban cryptocurrency purchases on credit cards

    Feb 5, 2018 9:15am
    Three major US banks — JPMorgan Chase, Bank of America and Citigroup — announced Friday that they will no longer allow customers to buy cryptocurrencies using their credit cards. Bloomberg cited a JPMorgan spokeswoman as saying...
  • Anxious investors hope that strong earnings can support lofty stock valuations and offset concerns over rising bond yields and the pace of Federal Reserve rate hikes. Photo: Reuters

    US profit forecasts rise amid Wall Street selloff

    Feb 5, 2018 8:11am
    Wall Street’s main stock indexes on Friday suffered their worst week in two years as bond yields soared and renewed fears of inflation gripped investors, Reuters reports. But amid the selloff, corporate earnings forecasts keep improving....
  • The Ernst & Young study comes amid a cryptocurrency investing craze, with young companies raising hundreds of millions of dollars online to fund their projects. Photo: Bloomberg

    Over 10% of US$3.7 billion ICO proceeds stolen: Ernst & Young

    Jan 23, 2018 9:05am
    More than 10 percent of funds raised through “initial coin offerings” are lost or stolen in hacker attacks, Reuters reports, citing new research by Ernst & Young. The professional services firm analyzed more than 372 ICOs,...
  • Momentum investing may continue to work well in Hong Kong this year, given that the market rally is still led by a small group of stocks. Photo: Bloomberg

    Strong counters to continue outperforming this year

    - Jan 12, 2018 12:12pm
    I had recommended two momentum investing portfolios in the middle of last year based on changing market circumstances. Both portfolios have outperformed the market by wide margin, generating returns of 118.4 percent and 75.9 percent compared...

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