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Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting the dollar to strengthen against the yen. Meanwhile, the S&P 500 remains on track for a strong year despite recent market struggles, with traders adjusting expectations for future interest rate cuts by the Federal Reserve.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting the dollar to strengthen against the yen. Meanwhile, U.S. Treasury yields fluctuated amid mixed economic reports, with the S&P 500 still on track for a strong year despite recent market struggles.
Asian indices are set for a mixed open following a hawkish Federal Reserve outlook, with the Nikkei 225 up 0.32% while the ASX 200 and KOSPI decline by 1.12% and 1.28%, respectively. Key economic data, including China's loan prime rate decision and upcoming U.S. core PCE price data, will be closely monitored as they may influence market sentiment and Treasury yields. The ASX 200 is testing support levels, while the Singapore Blue Chip index shows signs of bearish divergence, and the China A50 remains range-bound amid policy uncertainty.
IG
Wesfarmers has sold its industrial gas supplier Coregas as part of a strategy to recycle assets and fund future acquisitions. Despite a cash boost, the company's price-to-earnings ratio has risen to around 32, leading to a 2.5% drop in share price as investors reassess growth prospects. Analysts suggest the firm’s diversified revenue streams offer stability, but caution that high valuations may prompt investors to reconsider their holdings.
IG
The Santa Claus rally presents a promising opportunity for Australian markets, particularly benefiting the financial, commodity, technology, and energy sectors. Key players like Commonwealth Bank, Northern Star Resources, and Xero are poised to capitalize on increased consumer spending and positive market sentiment during the holiday season. Additionally, Afterpay's growth potential is bolstered by its recent acquisition and the popularity of its Buy Now, Pay Later model amid festive spending.
IG
Craig Wright, who claims to be Bitcoin's creator, has been declared in contempt of court in the UK and received a one-year suspended sentence for filing a $1.2 trillion lawsuit against Block, violating a previous court order. A judge found overwhelming evidence that Wright is not Satoshi Nakamoto, dismissing his lawsuit and noting his likelihood of evading jurisdiction while living abroad. Wright plans to appeal the contempt ruling.
The Global Uveitis Treatment market is projected to grow from USD 725 million in 2024 to USD 1.28 billion by 2032, with a CAGR of 8.5%. The study covers various treatment types, including corticosteroids and biologic agents, and offers customization options for regional and application-specific analysis. Key players include Novartis, Pfizer, and AbbVie, with North America leading the market and Asia-Pacific identified as the fastest-growing region.
Bitcoin's surge has prompted Australian fund managers to increase their Ethereum allocations, anticipating a significant rise in its value. While Bitcoin has soared nearly 70% above its 2021 peak, Ethereum struggles below $4,000, despite institutional support through multiple ETFs. Investors believe Ethereum's performance will improve, with expectations of reaching $6,000 or $8,000 if Bitcoin hits $150,000.
Kraken has launched Ink, its Layer-2 blockchain on the Ethereum mainnet, ahead of the planned Q1 2025 release. The platform aims to enhance DeFi by bridging users and developers, featuring over 8 million transactions during its test phase and plans for a permissionless proof-of-error system to boost accountability and security. Ink leverages Optimism’s OP Stack, receiving a $58 million grant, while Kraken navigates recent regulatory challenges.
The Global Fermented Beverages market, valued at 860 billion USD in 2024, is projected to reach 1.3 trillion USD by 2032, growing at a CAGR of 6.4%. The market analysis covers major regions including North America, Europe, and Asia-Pacific, with customization options available for specific countries and applications. Key players include Apple, Microsoft, and Nestlé, with insights into market dynamics, competitive landscape, and growth drivers such as lifestyle changes and technological advancements in fermentation.
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