Stocks

Bloomberg South Korea ramped up foreign currency sales in the first three months of this year as it stepped into markets to counter the rapid weakening of the won, which has since dropped to a 13-year low. South Korean FX authorities, including the finance ministry and the Bank of Korea (BOK), sold a net $8.3 billion of their foreign exchange …

  Bloomberg BYD Co, the Chinese electric vehicle maker backed by Warren Buffett, is on the cusp of entering the trillion-yuan-market-cap club as its production resilience and the government’s consumption incentives helped spur a rally. Shares of the Shenzhen-based company have surged 66% since a March low through, which pushed its market valuation to around $142 billion. Further gains will …

  Bloomberg Stocks dropped on Wednesday on renewed worries about economic growth as monetary policy tightens in much of the world to fight inflation. European equities fall for the first time in four days with sentiment hurt by China remaining committed to its zero-Covid-19 approach. US contracts steadied after a tech-led slide hurt the S&P 500. The yield on German …

  Bloomberg Stocks rise on Tuesday after China softened its strict Covid-19 protocols, easing investor concerns about global growth. Mining and energy shares led gains in Europe’s Stoxx 600, while US equity futures advanced about 0.6%. An Asian equity index erased losses to climb for a fourth session. China cut in half the time new arrivals must spend in isolation, …

Bloomberg Goldman Sachs Group analysts downgraded Coinbase Global to a sell rating as the crypto winter continues to take its toll on the struggling digital currency exchange. Shares of the firm slumped 11% to $55.96, extending their decline this year to 78% as Bitcoin trades at less than half its value from six months ago. Goldman analyst William Nance cited …

  Bloomberg Global stocks extended gains on Monday after posting their best performance in a month last week. US futures rise, with the Nasdaq 100 advancing 0.6% and technology heavyweights including Amazon.com Inc., Apple Inc. and Microsoft Corp. climbing in premarket trading. Tech shares also boosted indexes in Europe and Asia. Quarterly portfolio rebalancing by institutional buyers could be helping …

  Bloomberg India’s largest digital assets exchanges are bracing for a drawn-out crypto winter — one with some unwelcome local twists. With token prices plummeting, customers unable to transfer money to their accounts and a dreaded transaction tax on cryptocurrencies just around the corner, exchanges like Binance-backed WazirX have put expansion plans on the back burner. “We have cut down …

  Bloomberg Global equity funds saw their biggest outflows in nine weeks as investors piled into cash amid fears that the US economy could be headed for a recession. About $16.8 billion exited global stock funds in the week through June 22, with US equities seeing their first outflow in seven weeks at $17.4 billion, Bank of America Corp (BofA) …

Bloomberg After what is poised to be the worst first half since 2008 for European equities, strategists are optimistic that at least some of the losses will be clawed back by the end of the year. The Stoxx Europe 600 Index will end December at 467 index points, according to the average of 15 forecasts in Bloomberg’s monthly survey. That …

  Bloomberg European stocks retreated and bond yields tumbled as comments by Federal Reserve Chair Jerome Powell and growth data in Europe stoked fear about a global dowturn. Oil extended losses. The Stoxx Europe 600 Index slipped about 1%, with miners and energy firms posting the biggest declines. Contracts on the Nasdaq 100 flipped to gains from losses while those …