Jonathan Wong
The Latest
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Yen Falls Below Critical 145 Mark: Is Japan Set to Intervene?
The Japanese yen has plunged below the crucial 145 threshold, marking its lowest value this year. As a result, market spectators are pondering if Japanese authorities might intervene in the exchange rate. Upcoming Japanese economic data this week could play a pivotal role in this scenario. 
The Japanese yen has plunged below the crucial 145 threshold, marking its lowest value this year. As a result, market spectators are pondering if Japanese authorities might intervene in the exchange rate. Upcoming Japanese economic data this week could play a pivotal role in this scenario. -
Trump's Surprising Crypto Assets: From Skepticism to Ethereum Holdings
Former US President Donald Trump, once a vocal critic of cryptocurrency, has been revealed to possess Ethereum assets valued up to $500,000, according to his latest financial disclosure filing. This revelation comes as a surprise to many, especially considering his past remarks on the digital currency realm. 
Former US President Donald Trump, once a vocal critic of cryptocurrency, has been revealed to possess Ethereum assets valued up to $500,000, according to his latest financial disclosure filing. This revelation comes as a surprise to many, especially considering his past remarks on the digital currency realm. -
Nvidia's Skyrocketing Valuation: A Testament to the AI Revolution or a Cause for Investor Concern?
As the AI fervor stirred up by ChatGPT dispels the "tech winter" that plagued U.S. stocks at the end of last year, tech shares in the U.S. stock market have ridden the wave, emerging as the main force propelling U.S. stock indices. Among them, Nvidia, often hailed as the "sole arms dealer of the AI era," stands out. 
As the AI fervor stirred up by ChatGPT dispels the "tech winter" that plagued U.S. stocks at the end of last year, tech shares in the U.S. stock market have ridden the wave, emerging as the main force propelling U.S. stock indices. Among them, Nvidia, often hailed as the "sole arms dealer of the AI era," stands out. -
U.S.-China Flight Frequency to Double: Boost in Weekly Services Starting September
Doubling Up On August 10, the U.S. Department of Transportation (DOT) issued its fifth amendment to a directive from June 2020, green-lighting Chinese airlines to further increase the number of flights between the U.S. and China. This expansion will be executed in two phases, doubling the number of weekly round-trip flights from 24 to 48. 
Doubling Up On August 10, the U.S. Department of Transportation (DOT) issued its fifth amendment to a directive from June 2020, green-lighting Chinese airlines to further increase the number of flights between the U.S. and China. This expansion will be executed in two phases, doubling the number of weekly round-trip flights from 24 to 48. -
Prominent Crypto Tycoon Sam Bankman-Fried Faces Jail Time Over Alleged Witness Tampering
In a startling turn of events, Sam Bankman-Fried, the renowned cryptocurrency magnate and founder of FTX, has been ordered to jail by a U.S. judge over allegations of witness tampering. The decision has sent shockwaves throughout the financial and crypto sectors, casting a shadow over one of the industry's most celebrated figures. 
In a startling turn of events, Sam Bankman-Fried, the renowned cryptocurrency magnate and founder of FTX, has been ordered to jail by a U.S. judge over allegations of witness tampering. The decision has sent shockwaves throughout the financial and crypto sectors, casting a shadow over one of the industry's most celebrated figures. -
U.S. Treasury Bonds on the Rise? BofA Predicts Record Investment Influx for 2023
Following Thursday's weak demand during the 30-year U.S. Treasury bond auction and Friday's July PPI (Producer Price Index) slightly exceeding expectations, U.S. bond yields revived their upward trajectory late this week. However, Bank of America remains optimistic about the appeal of the U.S. bond market to investors for the remainder of the year. 
Following Thursday's weak demand during the 30-year U.S. Treasury bond auction and Friday's July PPI (Producer Price Index) slightly exceeding expectations, U.S. bond yields revived their upward trajectory late this week. However, Bank of America remains optimistic about the appeal of the U.S. bond market to investors for the remainder of the year. -
Northern Hemisphere Weather Woes Hit Quality Wheat Production, Intensifying Global Food Supply Crisis
Due to extreme weather conditions, key wheat-producing regions in the Northern Hemisphere are grappling with quality issues. Europe has faced detrimental rains, leading to the risk of wheat mold, while North America's unprecedented dry spell has affected crop yields. Now, wheat importers are turning their gaze towards Southern Hemisphere nations, which have not yet begun their harvest season, hoping to fill the demand gaps of various countries. 
Due to extreme weather conditions, key wheat-producing regions in the Northern Hemisphere are grappling with quality issues. Europe has faced detrimental rains, leading to the risk of wheat mold, while North America's unprecedented dry spell has affected crop yields. Now, wheat importers are turning their gaze towards Southern Hemisphere nations, which have not yet begun their harvest season, hoping to fill the demand gaps of various countries. -
Ant Group Scales Down Stake in India's Paytm
As per the announcement released by Paytm on the Indian National Stock Exchange, a subsidiary of Ant Group converted nearly half of its shares in the Indian payment company, Paytm, into convertible bonds on Monday. The deal, based on Paytm's closing price on August 4, comprises 10.3% of its shares, valued at approximately $628 million (45 billion yuan). 
As per the announcement released by Paytm on the Indian National Stock Exchange, a subsidiary of Ant Group converted nearly half of its shares in the Indian payment company, Paytm, into convertible bonds on Monday. The deal, based on Paytm's closing price on August 4, comprises 10.3% of its shares, valued at approximately $628 million (45 billion yuan). -
Russian Oil Breaks Price Ceiling, Setting New Monthly Revenue Record
Amid ongoing production cuts by the OPEC+ alliance, Russia, a major oil-producing nation, may have bypassed sanction limits, reaping more funds from its oil sales. 
Amid ongoing production cuts by the OPEC+ alliance, Russia, a major oil-producing nation, may have bypassed sanction limits, reaping more funds from its oil sales. -
Union Demands Roar, General Motors and Ford Hit Hard: A New Problem for Traditional U.S. Automakers Amid Electric Transition
The potential $80 billion in extra spending demanded by unions from two major American auto giants, General Motors and Ford, sends production costs soaring and confidence plummeting. General Motors nosedived by 5.8% (over 6% intra-day), while Ford fell 4.5% (over 5% intra-day). These two stocks are among the top three losers in the S&P 500 index. 
The potential $80 billion in extra spending demanded by unions from two major American auto giants, General Motors and Ford, sends production costs soaring and confidence plummeting. General Motors nosedived by 5.8% (over 6% intra-day), while Ford fell 4.5% (over 5% intra-day). These two stocks are among the top three losers in the S&P 500 index.
