Gucci parent Kering’s shares plunge 15% as sales in Asia nosedive
Kering shares plunged on Wednesday, their worst day ever after the French luxury goods company warned that a downturn in Asia would cause first-quarter sales of its star brand Gucci to fall by about 20%. This is expected to be the case. Kering shares fell 12%, shedding about $8.6 billion in market capitalization, while other […]
Bitcoin Tumbles to $67K As Asia Begins Trading Day – CoinDesk
Bitcoin {{{BTC}}} price fell 7% to $67,000 during Friday’s Asian trading hours, before recovering to around $68,500. The CoinDesk 20 Index, the largest and most liquid index of digital assets, fell 6%. Data from CoinGlass shows that over $100 million of long positions were liquidated in the last 12 hours and $167 million of long […]
Houthis Sever Undersea Communications Cables Linking Europe and Asia
The Iranian-backed Houthi terrorist group has destroyed four undersea communication cables connecting Saudi Arabia and Djibouti, Israeli news agencies reported on Monday. The submarine cable has been shut down in recent months due to sabotage. claimed Israeli news agency Globes. It is widely believed that the Houthi attack damaged cables believed to belong to the […]
Asia Stocks Drop With Focus on Nvidia, China Moves: Markets Wrap – Yahoo Finance
(Bloomberg) — Asian stocks fell following a tech-led setback on Wall Street, with Chinese markets giving a mixed reaction to Beijing’s latest steps to restore investor confidence. Most Read Articles on Bloomberg The index of Chinese companies listed in Hong Kong rose 1.6% after opening lower, while the CSI300 index of mainland stocks fell 0.2%. […]
Asia markets start holiday-shortened week mixed; India stocks edge lower – CNBC
2 hours ago India’s Paytm confirms resignation of banking director 4 hours ago Kiwi dollar falls after comments from Reserve Bank of New Zealand governor The New Zealand dollar fell 0.3% to $0.6130, slowing from the previous week’s rise of about 1.4%. Reserve Bank of New Zealand Governor Adrian Orr said the country’s current inflation […]
Asia markets rise after U.S. stocks hit all-time highs, China loan prime rates in focus – CNBC
34 minutes ago CNBC Pro: Morgan Stanley names biopharma favorites as “strong against macro uncertainties,” giving them 119% upside potential The biopharmaceutical sector is expected to provide a safe haven from macroeconomic and earnings concerns ahead of European companies' quarterly results, according to Morgan Stanley. The Wall Street bank said European biopharma stocks should be […]
China vs. India? Where one Asia investment manager is buying in a world of uncertainty – CNBC
Shin Yao Ng of Abdon, a Singapore-based Asian equity investment manager, said China looks relatively attractive because Indian stocks are soaring. “I want you to look at the fundamentals: China has a lot of value,” he said in an interview Friday. “But we don't know how long we'll have to wait.” Until China's economy recovers, […]