Nvidia recently reported its fourth fiscal quarter earnings, exceeding Wall Street’s forecasts for both earnings and sales. The company reported earnings per share of $5.16, a significant increase from the expected $4.64. Moreover, Nvidia reported revenue of $22.10 billion, surpassing analysts’ expectations of $20.62 billion. The positive results led to a 10% increase in Nvidia’s
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China’s central bank recently announced a cut in the benchmark five-year loan prime rate, marking the first decrease since June. This move is part of Beijing’s strategy to stimulate the country’s sluggish property market. While the one-year loan prime rate remained unchanged at 3.45%, the five-year rate, which affects most mortgages, was reduced by 25
The U.S. Federal Reserve is anticipated to reduce interest rates later this year, which could have implications for various Asian currencies. Generally, higher interest rates tend to strengthen a country’s currency by attracting foreign investment and increasing demand. Conversely, a weaker U.S. dollar often spells positive news for emerging markets, especially when the Fed decides
Tourism revenues in China experienced a significant surge of 47.3% year-on-year during the eight-day Lunar New Year holidays, exceeding pre-COVID 2019 levels. The data released by the Ministry of Culture and Tourism showcase a domestic travel boom that contributed to this impressive growth. This surge in tourism revenues comes as a temporary relief to policymakers
Ukrainian President Volodymyr Zelenskyy extended an invitation to U.S. presidential hopeful Donald Trump to visit the war-torn front lines of Ukraine. Zelenskyy, speaking at the Munich Security Conference, expressed his willingness to accompany Trump if he decides to accept the invitation. This offer comes amidst Trump’s skepticism towards the U.S.’s support for Kyiv, with him
The Bank of Japan (BOJ) is currently under pressure to exit its negative interest rate regime, amid expectations of sluggish economic growth and the need to alleviate depreciation pressure on the yen. BOJ Governor Kazuo Ueda is faced with a challenging dilemma, as he must find a way to counter yen depreciation driven by the
Japan’s economy has faced yet another setback, slipping into a technical recession as it unexpectedly contracted in the October-December period. The provisional government data released brings to light the challenges posed by high inflation, which has crippled domestic demand and private consumption. Consequently, this has created difficulties for Bank of Japan Governor Kazuo Ueda and
On the heels of hotter-than-expected U.S. January inflation data, Asia-Pacific markets experienced a downward trend, mirroring the losses seen on Wall Street. The spike in the consumer price index (CPI) has raised concerns among economists and investors about the potential impact on the global economy. This article delves into the repercussions of the inflation data
As investors navigate the stock market, one economist is forecasting that the recent gains will persist until the end of the year, enduring any potential mid-year market correction. Ludovic Subran, the chief economist at German financial services firm Allianz, believes that the anticipated interest rate cuts by central banks may not materialize as soon as
The stock market showed upward momentum on Monday, following a strong performance from the previous week. Both the S&P 500 and Dow Jones Industrial Average reached new all-time highs, providing investors with a positive outlook. The broad market index experienced a 0.3% increase, while the Dow rose by 195 points, or 0.5%. The Nasdaq Composite