Shares of Hong Kong’s major property developer New World Development surged by 23% after the unexpected resignation of CEO Adrian Cheng, a prominent figure from the company’s founding family. The Hong Kong-listed company saw its stock price jump when trading resumed on Friday, after being temporarily halted for a major…
Spanish stocks are firing on all cylinders. The closely followed IBEX 35 index has risen for three consecutive weeks, rising to a record high of €12,000, bringing the year-to-date gains to almost 20%. It has jumped by over 22% from the lowest point this year. Central banks boosts The IBEX…
American stocks performed great this week, thanks to the recent decision by the Federal Reserve to cut interest rates and the robust stimulus provided by Chinese authorities. The Dow Jones rose for three consecutive weeks, reaching a record high of $42,310. Similarly, the S&P 500 index surged to a record…
Moody’s (MCO) stock price has done well over the years, helped by its organic growth and its role in the financial services industry. It has jumped from below $10 in 1998 to almost $500 today, meaning that a $100 investment at the time would now be worth over $7,300. A…
In September, the futures for steel rebar experienced a notable increase, reaching CNY 3,170 per tonne. This spike represented the highest price seen in a month, largely driven by the market’s response to new fiscal stimulus measures introduced by the Chinese government. Following a crucial Politburo meeting, officials strongly committed…
In the second quarter of 2024, the US economy expanded at a 3% annualized rate, demonstrating its resiliency. This figure is consistent with the prior estimate and represents a significant rise above the revised growth rate of 1.6% reported in the first quarter. This continuous performance highlights the economy’s recovery…
China’s industrial profits plunged 17.8% in August compared to the previous year, signaling growing concerns over the country’s economic slowdown. The sharp decline, reported by the National Bureau of Statistics on Friday, comes after a brief recovery in July when profits saw a 4.1% year-on-year increase — the fastest pace…
Chinese stocks surged on Friday, on track to close their best week since the 2008 global financial crisis, driven by optimism over new government stimulus measures. The CSI 300 Index, a key benchmark for China’s largest companies, climbed as much as 3.8%, marking an impressive 15% gain for the week.…
Shigeru Ishiba, a seasoned moderate politician, will be Japan’s next prime minister after winning the leadership election of the governing Liberal Democratic Party (LDP). The 67-year-old former defense minister secured victory over his right-wing rival, Sanae Takaichi, by 215 votes to 194 in a runoff election held at the LDP…
In a crucial move to enhance its decentralization efforts, liquidity protocol THORChain (RUNE) has revealed plans to bridge decentralized finance (DeFi) to the top cryptocurrency by market cap, Bitcoin. THORChain@THORChain·FollowTHORChain is bringing $DEFI to Bitcoin. DEXs who don’t support native $BTC are in for a world of hurt. The future…