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28 minutes ago
Bitcoin surpasses $45,000
Bitcoin traded above $45,000 for the first time since April 2022 at the start of the year, adding to the digital currency’s meteoric rise over the past 12 months. According to Coin Metrics, Bitcoin’s last price was $45,605, up 4.3% on the day. Over the past year, it has increased by over 170%.
See chart…
BTC in the past year
3 hours ago
European stocks start higher
European stock markets started higher on Tuesday.
The benchmark Stoxx 600 index was up 0.43% as of 8:05 a.m. London time, with most sectors gaining. Oil and gas led the gains, rising 1.3% while technology stocks fell 0.2%.
Germany’s DAX and France’s CAC40 both rose about 0.5%, while Britain’s FTSE100 rose 0.25%.
See chart…
STOXX 600 index.
8 hours ago
Dutch government partially cancels ASML’s license to export chip equipment to China
The Dutch government has partially revoked semiconductor equipment maker ASML’s license to export two systems used to make advanced chips to China.
“The license to ship NXT:2050i and NXT:2100i lithography systems in 2023 was recently partially revoked by the Dutch government, affecting a small number of customers in China,” ASML said in a statement. .
The NXT:2050i and NXT:2100i are deep-UV lithography machines used for high-volume production of cutting-edge logic and memory chips.
The company said it does not expect this action to have a material impact on its 2023 financial outlook.
ASML has been restricted from exporting extreme ultraviolet lithography equipment to China by the Dutch government in an effort to contain Chinese chip manufacturing technology. ASML does not currently ship any equipment to China.
— Sheila Chan
9 hours ago
Caixin China December manufacturing PMI is 50.8
A private survey showed an expansion in China’s manufacturing activity in December, contradicting a similar survey conducted by the country’s statistics bureau that reported a contraction.
The Caixin Manufacturing Purchasing Managers’ Business Conditions Index stood at 50.8 in December, following a reading of 50.7 in November. China’s official PMI in December was 49.0, down from 49.4 the previous month, the National Bureau of Statistics said in a statement on Sunday.
PMI readings above 50 indicate expansion in activity, while readings below that level indicate contraction.
— Clement Tan
6 hours ago
Singapore GDP expands by 2.8% in final quarter of 2023
According to preliminary estimates by the country’s Ministry of Trade and Industry, Singapore’s economy grew by 2.8% in the final quarter of 2023 compared to the same period last year.
This is a significant increase from the 1% expansion recorded in the third quarter and the highest growth rate since the third quarter of 2022.
On a seasonally adjusted quarter-on-quarter basis, economic growth was 1.7%, faster than 1.3% in the third quarter..
Read the full text here.
— Lim Huijie
11 hours ago
Australian factory activity shrinks at fastest pace since May 2020: Judo Bank
Australian factory activity in December was the sharpest contraction since May 2020, according to a private survey by Judo Bank.
The country’s Manufacturing Purchasing Managers’ Index was 47.6 in December, down from 47.7 in November, marking the 10th consecutive month of negative figures.
The bank said in a release that this was primarily due to a further deterioration in Australian manufacturing demand, with new orders for Australian industrial goods declining for the 13th consecutive month.
This was due to pressure from weak economic conditions and high interest rates, and external demand was also weak, the central bank added.
— Lim Huijie
12 hours ago
record watch
The S&P 500 index closed Friday at 4,769.83, less than 1% from a new high, and investors are paying attention to the record.
If the closing price exceeds the stock benchmark’s record of 4,796.56 in January 2022, it will be a new all-time high. The current intraday record high for the S&P 500 is 4818.62, also as of January 2022.
12 hours ago
History tells us that stocks will rise even higher in 2024, but the returns will be much lower.
A great year in which the S&P 500 index rose more than 20% could, if history is any guide, suggest even better news next year, according to Ryan Detrick, chief market strategist at Carson Group. But he doesn’t expect it to be a bigger year than 2023.
Since 1950, there have been 21 times that the S&P 500 has gained more than 20% annually. As for what will happen next year, the stock benchmark was in the green 80 at the time, with an average return of 10%, the strategist said.
Detrick said only once in history – in 1997 – did stocks rise further the following year.
— Yun Lee
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