Bloomberg Tesla Inc dropped out of the top 10 holdings of a South Korean electric-vehicle (EV) mutual fund for the first time ever amid its epic selloff last year. The Korea Investment Management Co. fund has steadily reduced its Tesla exposure to less than 2% of its net asset value in order to reduce volatility. The US EV giant previously ...
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Chinese stocks to outperform global peers in first half of ’23
Bloomberg Chinese equities will outperform global peers in the first half of this year, according to Carrhae Capital LLP, which is betting on the nation’s reopening after its emerging-market hedge fund beat peers last year. “We have entered the year with a very bullish stance on China and on the margin we have been taking profits,†Ali Akay, Carrhae ...
Read More »US index futures drift higher amid choppy earnings
Bloomberg US equity-index futures posted modest gains as investors remained on the edge over the direction of monetary policy and corporate earnings. The yen slid against the dollar after the Bank of Japan kept monetary settings unchanged. Contracts on the S&P 500 and Nasdaq 100 indexes were 0.2% higher each after a choppy session in New York amid diverging ...
Read More »Stocks decline as traders fret over interest rates, earnings
Bloomberg European equities and US stock-index futures fell amid signs central banks will turn more hawkish and as investors focused on earnings reports from Wall Street banks. Contracts on the S&P 500 and Nasdaq 100 indexes slipped at least 0.3% each as US markets were set to reopen after a holiday. The Stoxx Europe 600 Index was dragged by ...
Read More »Poll shows investors most underweight on US stocks since 2005
Bloomberg Investors are the most underweight on US equities since 2005 as improving market sentiment sends them flocking towards cheaper regions, according to Bank of America Corp.’s (BofA) global fund manager survey. Participants in the January poll were “a lot less bearish†than in the fourth quarter, sparking a rotation to emerging markets, Europe and cyclical stocks, and away from ...
Read More »Equity rally declines amid unease about macro risks
Bloomberg Global equities faltered after their best start to a year in a generation as investors assessed whether the rally has gone too far given the outlook for the inflation, growth and earnings. The MSCI ACWI Index slipped for the first time in seven days after posting the biggest advance for the first two weeks in data going back ...
Read More »FOMO stirs again in Bitcoin’s best start since before pandemic
Bloomberg Bitcoin has bolted out of January’s starting gates with a climb of more than 28%, turning up the heat on bears who anticipated more challenges for riskier investments after sharp selloffs in 2022. The token’s advance so far is the best for the opening month of a year since a 31% rally in 2020 before the pandemic hit. ...
Read More »Global funds flocking back to China stocks as sentiment shifts
Bloomberg Global funds are returning to China’s onshore stock market in full force as the nation emerges from Covid restrictions and pivots to pro-growth policies. Offshore investors added about $2 billion in mainland shares on Friday alone via trading links with Hong Kong, the largest daily tally in two months, according to data compiled by Bloomberg. Foreigners have boosted holdings ...
Read More »Philippine stocks near bull market as end of tightening in sight
Bloomberg Philippine’s stock benchmark entered a bull market, as the country’s central bank signalled an imminent end to its monetary tightening cycle and the outlook for corporate earnings brightens as China reopens its borders. The peso also strengthened along with most Asian currencies as traders eased off hawkish bets for the Federal Reserve. The Philippine Stock Exchange Index rose ...
Read More »Stocks advance, US futures becalmed before CPI data
Bloomberg European stocks advanced and Wall Street futures were steady as traders braced for a report that may show US inflation is cooling, reducing pressure for aggressive rate hikes from the Federal Reserve. The benchmark European stocks gauge advanced 0.5%, boosted by a second day of gains for real estate stocks amid hopes of an easier outlook for rates. ...
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