Stocks

  Bloomberg South Korea’s LG Energy Solution soared in its first day of trading in Seoul, following the country’s biggest initial public offering on record. The world’s second-largest battery maker soared to close 68% above its IPO price of 300,000 won, even as the nation’s benchmark Kospi tumbled into a bear market. Now worth over $98 billion, it’s bigger than …

  Bloomberg Thailand is considering taxing stock trading for the first time in more than three decades, and making crypto traders part with a share of their profits, as the government hunts for revenue to fund billions of dollars in pandemic relief. Prime Minister Prayuth Chan-Ocha’s government is expected to decide by end-January on the method and rate of taxing …

  Bloomberg Microsoft Corp shares rise in late trading, reversing an earlier decline, after the software giant gave a forecast that reassured investors the company’s Azure cloud-computing business still has potential to drive growth. Earlier, Microsoft had reported quarterly sales that topped $50 billion for the first time and profit that exceeded analysts’ estimates, fuelled by cloud, gaming and Windows …

  Bloomberg Global traders already on tenterhooks over this week’s key Federal Reserve meeting were jolted further on Tuesday by Australian inflation data that smashed expectations, a surprise monetary tightening in Singapore and further swings in US equity futures. A maelstrom of volatility in the past 24 hours saw almost $3 trillion wiped off global stocks before a reversal with …

  Bloomberg South Korea will extend trading in its foreign-exchange market and ease restrictions against overseas investors in a bid to encourage more foreign participation — reversing a decades-old policy intended to limit volatile capital flows. Onshore dollar-won spot market trading hours will be extended significantly from the current 9:00 am to 3:30 pm local time span, the finance ministry …

  Bloomberg Equities in Europe declined on Monday and US futures reversed gains as the rout in technology stocks deepened amid concerns over the Federal Reserve’s imminent rate liftoff. Bonds gained. Tech stocks were among the largest decliners as the Stoxx Europe 600 index dropped almost 2%, on track for the biggest two-day slump since October. Tensions between Russia and …

  Bloomberg Some of the world’s biggest funds are switching toward emerging-market equities in a bet their central banks have less need to raise interest rates after tightening before their developed-nation peers last year. Goldman Sachs Asset Management and BNP Paribas Asset Management are among those buying the shares on expectations the most attractive valuations in more than a decade …

  Bloomberg US equity futures were mixed while European stocks fall as investors assessed shaky company earnings and the prospect of higher US borrowing costs. Bond yields dropped a second day. The Stoxx Europe 600 Index touched the lowest level in a month weighed by miners, travel and leisure and automakers. Nasdaq 100 contracts underperformed after the tech-heavy gauge entered …

  Bloomberg Shares of semiconductor companies fall, with the group participating in a widespread late selloff for technology stocks that pushed the Nasdaq 100 Index into correction territory. The Philadelphia Stock Exchange Semiconductor Index falls 3.3%, ending at its lowest since late October. The index has dropped more than 10% thus far this week, which would represent its biggest one-week …

  Bloomberg Gold trimmed a weekly gain as inflation-adjusted bond yields continued to advance, diminishing the appeal of the non-interest bearing asset. The bullion sunk to a key resistance level as market-based measures of inflation expectations rapidly dropped, raising the real return of Treasuries. A decline in the bond’s nominal yields from a two-year high had helped gold advance earlier …