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Wednesday, August 9, 2017

Investors More Worried About US Despot Trump Than North Korea's Kim




U.S. President Donald Trump is a bigger concern to financial markets than North Korean dictator Kim Jong Un -- judging by traders’ reactions this year.

South Korea’s Kospi stock index was down 0.8% in afternoon trading Wednesday, hours after Trump told reporters “North Korea best not make any more threats to the United States,” Trump told reporters in Bedminster, New Jersey. “They will be met with fire, fury and, frankly, power the likes of which this world has never seen before.”

Traders in Seoul, about 24 miles from the border with the nuclear-armed North, also took the won down 0.9 percent. That’s a bigger reaction than after North Korean provocations:

  •     Kospi fell 0.6% and won dropped 0.3% on July 4 after North Korea warned it would make an important announcement (which turned out to be an ICBM launch)
  •     Kospi rose 0.1% and won gained 0.3% on July 31, the first trading day after the second ICBM launch
Investors have decades of experience observing North Korean threats. But with Trump, they’re still learning to deal with his unpredictable reactions.


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Tuesday, July 25, 2017

US Dollar falls to 13-month lows, Asian stocks sag

Business, finance, forex, US dollar, wall street


The US dollar was down to a 13-month low on Tuesday against a basket of major currencies, extending recent declines as investors positioned for a Federal Reserve meeting starting later in the day.

Undermining the case for a Fed rate increase in coming months, the dollar has been hit by weak U.S. data that has contrasted with an improving economic outlook in Europe and China.

The dollar fell 0.1% to 110.99 yen JPY=D4 on Tuesday, after touching a six-week low of 110.65 yen on Monday.

The dollar index .DXY, which tracks the greenback against a basket of six major peers, pulled back a little to 93.919 on Tuesday. It still remained above Monday's low of 93.823, its lowest level since June 2016.

Japan's Nikkei 225 index slipped by 0.1% to 19,955.20 and Hong Kong's Hang Seng fell 0.1% to 26,825.91. South Korea's Kospi sank 0.5% 2,438.50. Australia's S&P ASX 200 gained 0.7% to 5,726.60 and the Shanghai Composite index slipped 0.3% to 3,420.25. India's Sensex lost 0.1% to Shares in Southeast Asia were mixed.



Wednesday, July 12, 2017

Ethereum Stabilised to $200+


Bitcoin, cryptocurrency, Ethereum

One of the hottest cryptocurrency Ethereum stabilised on Wednesday after a free fall for two straight days. Ethereum is up 5% versus US dollar $201.17 at 4.17 a.m. ET.  Ethereum suffered a steep fall about 25% against the US dollar on Monday and Tuesday. It follows a 5,000% rise in the price of Ethereum since the start of the year.

eToro analyst Mati Greenspan told Business Insider on Tuesday that the decline was likely just a correction after such a rapid rise. Concerns over the viability of companies using Ethereum's network to raise money also contributed, he said.

Ethereum is an open-source database overlayed with a digital currency. Bitcoin is designed for spending, Ethereum's token, Ether, simply powers its network. Ethereum's network allows people to write "smart contracts" and people have been using it to raise money online through DIY crowdfundings called "Initial Coin Offerings."  

Bitcoin on Wednesday morning is up 0.24% to $2,322.03 at 4.27 a.m. ET.


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Tuesday, July 4, 2017

Zynga Shares jumped by 3,292%, Amazon dropped by 87%, Apple down by 14%, eBay soared to 253%

stocks finance, stock market


What a day it may have been, Finance website CNNMoney, Bloomberg and Google Finance showed Zynga is up by 3,292%, Amazon plunging 87%, eBay soaring by 253%, Apple dropping 14% and Microsoft jumping 79% late Monday. Unfortunately for Zynga and eBay it was only a glitch.

According to Nasdaq, the erroneous prices came from test data that they sent out that was "improperly" used by some third party companies. It said it's working with those companies to fix the problem as quickly as possible. It was obvious that something was wrong. Apple, Amazon and Microsoft's share prices were all listed as exactly $123.47. So were those of eBay which is up by 254% and video game developer Zynga was up by staggering 3,292%.

The misleading prices appeared on the websites of CNNMoney, Bloomberg and Google Finance. But they didn't appear on Nasdaq's own website.

Nasdaq said the data that was sent out was part of "normal evening test procedures. Well, CNN and other mainstream media company might blame Russia again.




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Friday, June 16, 2017

US Tech Stocks Slips, Asia Stocks Stable


Business, finance, stocks, US tech stock market

The five largest U.S. technology companies have lost enough market capitalization over the past week, Apple <AAPL.O., Alphabet (GOOGL.O), Microsoft (MSFT.O), Amazon (AMZN.O) and Facebook (FB.O), their combined market capitalization fall by about $120 billion since last Thursday. By Thursday the S&P 500 technology index .SPLRCT had seen its largest five-day drop in a year.

The slip was again led by sector heavyweights Apple and Alphabet, as investors moved away from what had been the year's best-performing sector and rotated portfolios into stocks that pay higher dividends amid some signs that U.S. economic weakness.

Despite the rout, Asian stocks remained stable  on Friday, and European shares look set for a positive start following Thursday's losses.

The Japanese yen remained near a two-week low against the dollar after the Bank of Japan left monetary policy unchanged as expected even as its U.S. counterpart signaled further tightening.

Japan's Nikkei .N225 were up by 0.7% , narrowing its loss for the week to 0.3%. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slipped about 0.1%, on track to end the week down 0.85%.  

South Korea's KOSPI .KS11 was down by about 0.1%, losing early gains. The biggest company, Samsung Electronics (005930.KS) advances by 0.1%.

Taiwan index .TWII were up by 0.6%, with the biggest company, Taiwan Semiconductor Manufacturing Co. (2330.TW) jumping 1.7% and Apple supplier Hon Hai Precision Industry (2317.TW) surging 2.5%.

Wednesday, May 24, 2017

Bitcoin’s Price Hits New All Time High $2,322 as Scaling Consensus Reached

https://bits2u.com/?ref=13290


Bitcoin has reached another new all-time high at $2,322 this morning May 24 based on global average. Experts said that the recent bitcoin price surge is due to the strong performance and momentum of the Japanese bitcoin industry, however it is also affected by the progress in bitcoin scaling talks which has been a driving factor of bitcoin price’s upward momentum.

Cointelegraph has reported that a number of leading players of the Blockchain industry have reached a consensus in regards to the Bitcoin scaling solution. This break in the scaling debate stalemate is a new, highly significant boost for the Bitcoin ecosystem.

In a statement, Digital Currency Group revealed that 56 companies representing 83.3% of hashing power and 5.1 billion monthly on-chain transaction volume have come to a consensus to activate the Bitcoin Core development team’s Segregated Witness (Segwit) at a 80% activation threshold and execute a 2MB hard fork six months thereafter to proportionally scale the Bitcoin network.

Upon the announcement of the newly agreed upon Bitcoin Scaling Agreement, bitcoin price surged by around $185, from $2,100 to $2,285, demonstrating a 9% daily increase in value.

This means that the problem of Bitcoin scaling, that has been unresolved for years, could soon become a thing of the past. This news comes quite on time, as the number of transactions being stuck in the backlog has reached record heights in recent days.

Until now, the community has been unable to come to a consensus on whether to enable Bitcoin scaling by activating SegWit, Bitcoin Unlimited, or some other technology.


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Thursday, May 11, 2017

Bitcoin Breaches $1,800 for the first time, still rising

Bitcoin, business, crypto currency


Bitcoin breaches $1,800 for the first time on Thursday adding more than $100 in just two days. The rally in bitcoin has been driven by a number of factors such as positive noises from policymakers as well as the legalization of the cryptocurrency in Japan.

The price of the digital currency was trading at around $1,824 by early morning in London, according to Coindesk's bitcoin price index. It breached $1,700 for the first time on Tuesday.

Since Monday, the market capitalization of bitcoin has risen over $3 billion to $29.53 billion. The price of bitcoin has soared 81% since the start of the year.

Bitcoin surpassed $1,800 on Thursday to a fresh record high, rising more than $100 in just two days, driven by comments from policy makers and positive noises around the future of the cryptocurrency.

The price of the digital currency was trading at around $1,824 by early morning in London, according to Coindesk's bitcoin price index. It breached $1,700 for the first time on Tuesday.

Since Monday, the market capitalization of bitcoin has risen over $3 billion to $29.53 billion. The price of bitcoin has soared 81 percent since the start of the year.

The latest price driver was comments from Minneapolis Federal Reserve Bank President Neel Kashkari. The policymaker talked up the potential of blockchain – the technology that underpins bitcoin.

"I would say I think conventional wisdom now is that blockchain and the underlying technology is probably more interesting and has more potential than maybe bitcoin does by itself," Kashkari said at a technology conference, according to Reuters.

His comments are the latest in a growing number of officials that have supported bitcoin and blockchain technology, helping to bring it more into the mainstream.

Japan legalized the cryptocurrency as a payment method recently and this has led to a greater amount of bitcoin being bought with yen, which is helping to support the price.

At the same time, Russia, one of the strongest opponents of bitcoin is seeking to regulate the digital currency.

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