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Asian shares plummeted on Monday, with Tokyo's Nikkei 225 dropping over 4% following a significant retreat on Wall Street, driven by fears of worsening inflation and a slowing U.S. economy amid escalating trade tensions. The S&P 500 experienced its worst day in two years, falling 2%, while consumer pessimism about future finances surged, raising concerns about a potential stagflation scenario. As markets brace for upcoming tariff announcements, oil prices and U.S. futures also declined.
UBS is expanding its wealth management services to target clients in Perth, Australia, as reported by Bloomberg. This move aims to enhance the firm's presence in the region and cater to the growing demand for wealth services.
Global markets faced turmoil last week due to new 25% US auto tariffs, raising stagflation concerns amid mixed earnings in Hong Kong. The Nasdaq 100 is testing critical support levels, while commodity prices surged, with oil nearing $70 per barrel and gold hitting $3,086. Key economic data, including China PMI and US employment figures, are anticipated this week.
JPMorgan Chase & Co. has ceased to hold a substantial stake in Cettire Ltd, a luxury fashion e-commerce company, as of March 26, 2025. This shift in substantial holding may affect Cettire’s shareholder composition and influence market perceptions of its stock. Currently, Cettire has a market cap of A$331.7M and has experienced a year-to-date price decline of 42.38%.
Two ultra-luxury Huawei Luxeed Maextro S800 sedans were spotted in Sydney, marking the brand's potential entry into the Australian market. Priced between $A250,000 and $A330,000, these nearly 5.5-meter-long vehicles feature advanced self-driving technology and are set to compete with high-end models like Mercedes-Benz Maybach and Rolls-Royce. The Maextro brand is a joint venture between Huawei and JAC, with local testing possibly indicating a launch in 2025.
Warren Buffett's Berkshire Hathaway holds a record $334 billion in cash, prompting speculation about his strategy amid potential market downturns. This reflects a history of patience and valuation-based investing, seizing opportunities during economic uncertainty.The Transmission and Distribution Conclave, organized by ETEnergyworld and CTC Global, focused on energy transition and grid resilience. Experts discussed investment opportunities in India's energy sector, emphasizing the need for innovation and collaboration to enhance infrastructure and integrate renewable energy effectively.
Southeast Asia's tech scene faces challenges as startup funding declines for the third consecutive year, with only a few deals reported this week. Notable funding includes India's Apna Mart raising $25 million, while M&As feature Dubdub.ai's acquisition by Observe AI. Despite setbacks, there is optimism for continued innovation and problem-solving in the region.
UBS has adopted a selective approach to real estate stocks, favoring those with strong growth potential, pricing power, and solid cash flows. The firm sees opportunities in companies with profitable pipelines and attractive yield gaps, while noting that Japanese developers are performing well, but REITs face challenges from rising interest costs. In Europe, short-term uncertainties persist, yet gradual improvements are expected, particularly in the US and Australian markets, while Hong Kong developers may benefit from stabilizing fundamentals in mainland China.
Protests against Elon Musk and Tesla are escalating globally, with over 200 demonstrations planned, including nearly 50 in California. Organizers, part of the Tesla Takedown movement, accuse Musk of undermining democracy and public services, urging supporters to boycott Tesla and divest from its stock. As protests grow, Tesla's stock has plummeted over 35%, significantly impacting Musk's net worth.
JPMorgan Chase & Co. has reduced its voting power in Paladin Energy Ltd from 8.74% to 6.32%, as reported in a recent notice. This change may influence the company's shareholder dynamics and market positioning, potentially affecting investor confidence and strategic decisions.Paladin Energy operates in the energy sector, focusing on uranium production and exploration, which is vital for nuclear energy. The company's year-to-date price performance has seen a decline of 32%, with an average trading volume of 186,251.
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