Stocks

Zambia moves to halt world’s worst currency fall

BLOOMBERG Zambia’s central bank raised the ratio of deposits that commercial lenders must hold in a bid to reverse a slide in the world’s worst-performing currency after Argentina’s peso.The Bank of Zambia will increase the statutory reserve ratio requirement for local- and foreign-currency deposits by 3 percentage points to 14.5% with effect from November 13, it said in a circular ...

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South Korea to ban short-selling of stocks until June 2024

BLOOMBERG South Korea will prohibit stock short-selling until June 2024 to allow regulators to “actively” improve rules and systems, the Financial Services Commission said. Trading with borrowed shares, an essential component of short selling, will be banned for companies in the Kospi 200 Index and Kosdaq 150 Index from Monday until the end of June, the commission said. “Amidst market ...

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Stocks seek direction after interest rates-driven rally

BLOOMBERG Stock and bond markets steadied after last week’s blockbuster rally, with traders still optimistic that US and European central banks may start cutting interest rates as soon as next year. Europe’s Stoxx 600 index held to recent gains and US futures added about 0.2%. Asian markets jumped, with South Korea’s Kospi finishing more than 5% higher after regulators banned ...

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Bitcoin lifts crypto mood by retaking 17-month peak; SOL jumps

BLOOMBERG Bitcoin rose back to a more than 17-month high amid hopes the Federal Reserve is done with interest-rate hikes and expectations that a fresh source of demand is brewing in the exchange-traded fund industry. The largest digital token added 4% in the past 24 hours and traded at $35,840 in Singapore on Thursday. Some smaller coins climbed, including the ...

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Stocks rally as Fed’s interest rate hikes seen near end

BLOOMBERG Stocks rallied as investors reacted to the possible peak of the Federal Reserve’s historic tightening campaign and processed the latest major company earnings. Rates-sensitive real estate stocks led the advance in Europe’s Stoxx 600 index, which is set for its longest winning streak since July. US equity futures pointed to an extension of Wednesday’s gains on Wall Street as ...

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Japan ramps up yen intervention warning after BOJ-fuelled selloff

BLOOMBERG Traders are piling into fresh bets against the yen, triggering pushback from Japanese authorities who are threatening once again to take action including the possibility of currency intervention. The yen edged away from a year-to-date low on Wednesday after Masato Kanda, Japan’s top currency official at the finance ministry, said authorities are ready to act if needed. “We’re on ...

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US futures slip before Federal Reserve’s likely ‘hawkish’ hold

BLOOMBERG US stock futures slipped and Treasuries edged higher ahead of the Federal Reserve interest-rate decision and the US government’s new borrowing plan. Contracts on the S&P 500 and the Nasdaq 100 dropped by about 0.3%. WeWork Inc plunged 42% in premarket trading after the Wall Street Journal reported that the company plans to file for bankruptcy as early as ...

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European stocks gain ahead of slew of central bank decisions

BLOOMBERG European stocks kicked off the week with gains as Israel’s military action in Gaza proceeded more cautiously, while investors look to the Federal Reserve for direction on interest rates. The Stoxx 600 index was up 0.6% in a broad risk-on move, with almost all the sectors trading in positive territory. Oil fell as Middle East conflict remained contained as ...

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Foreign funds are selling India stocks at fastest pace in months

BLOOMBERG Foreign investors have cut holdings of Indian stocks at a rapid pace over the past week, with disappointing earnings from some bellwether companies souring sentiment just as concerns about the Israel-Hamas war and higher-for-longer US rates hurt demand for riskier assets. Overseas funds sold $768.4 million of local shares alone, the biggest single-day outflow since June 2022 on a ...

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