Jerry Lin
The Latest
-
Eurozone GDP Growth Threatened by Downturn Risks Amid Recession Fears
The eurozone saw further contraction in its service sector in October, while manufacturing continued to slow down. Data released on November 6 confirmed that the final value of the Hamburg Commercial Bank's Composite Purchasing Managers' Index (HCOB PMI) for October was 46.5, down from 47.2 in September. This acceleration in the contraction of private sector activity in the eurozone suggests that there are downward risks to GDP growth. 
The eurozone saw further contraction in its service sector in October, while manufacturing continued to slow down. Data released on November 6 confirmed that the final value of the Hamburg Commercial Bank's Composite Purchasing Managers' Index (HCOB PMI) for October was 46.5, down from 47.2 in September. This acceleration in the contraction of private sector activity in the eurozone suggests that there are downward risks to GDP growth. -
South Korea Stocks Surge Follows Extended Short-Selling Prohibition
In a move that propelled South Korean markets to their best gains in over two years, financial authorities announced the extension of a short-selling ban, sending the Kospi index soaring by 5.66% and the Kosdaq index up by 7.34%. The directive, aimed at leveling the playing field for investors, will halt the short-selling of stocks until June 2024. This decision coincides with a softer-than-expected U.S. jobs report, which dampened concerns over aggressive rate hikes by the Federal Reserve. 
In a move that propelled South Korean markets to their best gains in over two years, financial authorities announced the extension of a short-selling ban, sending the Kospi index soaring by 5.66% and the Kosdaq index up by 7.34%. The directive, aimed at leveling the playing field for investors, will halt the short-selling of stocks until June 2024. This decision coincides with a softer-than-expected U.S. jobs report, which dampened concerns over aggressive rate hikes by the Federal Reserve. -
U.S. House Passes Bill to Expand Sanctions on Iranian Oil Despite Falling Oil Prices
The Hill reported that the U.S. House of Representatives passed a bill with a vote of 342 to 69 aimed at imposing penalties on entities involved in the Iranian oil trade. 
The Hill reported that the U.S. House of Representatives passed a bill with a vote of 342 to 69 aimed at imposing penalties on entities involved in the Iranian oil trade. -
US Lawmakers Urge Biden to Address China's Access to Open-Source Chip Tech
A rising tide of bipartisan concern is sweeping Capitol Hill as lawmakers push the Biden administration to address China's increased usage of the open-source RISC-V chip design. This technological battleground, as some legislators argue, could potentially compromise US national security. 
A rising tide of bipartisan concern is sweeping Capitol Hill as lawmakers push the Biden administration to address China's increased usage of the open-source RISC-V chip design. This technological battleground, as some legislators argue, could potentially compromise US national security. -
China's Skyrocketing Money Rates Lead to Regulatory Scrutiny
China's short-term money rates spiraled to a record 50% last month. This unprecedented surge has now sparked a probe by the nation's financial overseers, as they aim to understand the rationale behind certain institutions borrowing at such exorbitant rates. 
China's short-term money rates spiraled to a record 50% last month. This unprecedented surge has now sparked a probe by the nation's financial overseers, as they aim to understand the rationale behind certain institutions borrowing at such exorbitant rates. -
Bank of England Holds Steady Amid Economic Concerns, Spurring Debate Over Next Moves
The Bank of England (BoE) announced Thursday that it would keep interest rates unchanged at 5.25%, marking the second consecutive pause after 14 successive rate hikes. The central bank cited weakening economic activity and easing inflation as reasons behind the decision, igniting speculation on whether the highest rate level since February 2008 has peaked. 
The Bank of England (BoE) announced Thursday that it would keep interest rates unchanged at 5.25%, marking the second consecutive pause after 14 successive rate hikes. The central bank cited weakening economic activity and easing inflation as reasons behind the decision, igniting speculation on whether the highest rate level since February 2008 has peaked. -
Gold's Safe Haven Appeal: Fueled by Geopolitical Tensions and Central Banks?
Amid the Israel-Palestine conflict, international gold prices surged past $2,000 per ounce. Domestically, a younger generation has been eagerly investing in gold, with sales of gold bars and coins surging by 15.98%. 
Amid the Israel-Palestine conflict, international gold prices surged past $2,000 per ounce. Domestically, a younger generation has been eagerly investing in gold, with sales of gold bars and coins surging by 15.98%. -
Britain Bolsters AI Race with $273M Supercomputer Investment
The British government is positioning itself as a formidable player in the global artificial intelligence (AI) arms race. On Wednesday, the U.K. announced its intent to channel £225 million ($273 million) towards the creation of an avant-garde AI supercomputer. This strategic move underscores Britain's ambition to rub shoulders with AI giants, notably the U.S. and China. 
The British government is positioning itself as a formidable player in the global artificial intelligence (AI) arms race. On Wednesday, the U.K. announced its intent to channel £225 million ($273 million) towards the creation of an avant-garde AI supercomputer. This strategic move underscores Britain's ambition to rub shoulders with AI giants, notably the U.S. and China. -
Japan Unveils $113 Billion Anti-Inflation Boost Amid Economic Strain
In a decisive move to counter the relentless inflation that has riddled its economy, Japan's Prime Minister Fumio Kishida has rolled out a robust $113 billion stimulus package. This ambitious economic initiative is a testament to the country's proactive approach in navigating the turbulent financial waters exacerbated by the Ukraine war and lingering COVID-19 impacts. 
In a decisive move to counter the relentless inflation that has riddled its economy, Japan's Prime Minister Fumio Kishida has rolled out a robust $113 billion stimulus package. This ambitious economic initiative is a testament to the country's proactive approach in navigating the turbulent financial waters exacerbated by the Ukraine war and lingering COVID-19 impacts. -
Federal Reserve Maintains Status Quo on Rates Amid Surging Economy
Amid an economic landscape that has both surpassed expectations and defied slowdown forecasts, the U.S. Federal Reserve chose to sustain its key interest rate within the 5.25%-5.5% bracket. This decision keeps the rates at their highest in 22 years, reflecting a targeted response to near-record inflation levels. 
Amid an economic landscape that has both surpassed expectations and defied slowdown forecasts, the U.S. Federal Reserve chose to sustain its key interest rate within the 5.25%-5.5% bracket. This decision keeps the rates at their highest in 22 years, reflecting a targeted response to near-record inflation levels.
