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Ripple's MoneyTap has achieved significant adoption in Japan, with partnerships involving six regional banks, including Shinonome Shinkin Bank and Nagoya Bank, contributing to a $13 billion increase in international remittances. Launched by SBI Holdings, MoneyTap allows instant transactions via QR codes or phone numbers, and now serves millions of users across the country. Remarkably, Ripple has partnered with up to 80% of the Japanese banking industry, highlighting its growing influence in the financial sector.
US interest rate markets saw slight upward trends, with the two-year Treasury yield falling to 4.13% and the ten-year to 4.18%. Corporate investment grade and high yield indices gained 1.34% and 1.15%, respectively, while commodity prices weakened, particularly gold and crude oil. Equity hedged strategies across US, European, and Asian markets generally produced positive returns, driven by strong performances in consumer discretionary and financial sectors, despite some volatility in healthcare and energy.
In November 2024, risk assets rebounded, with positive returns across various hedge fund strategies, particularly in Equity Hedged and Relative Value sectors. Macro and discretionary trading strategies also performed well, driven by favorable positions in rates and commodities, despite some mixed results in energy and metals. Overall, the market showed a constructive outlook following the US election, with significant performance dispersion among managers.
In November 2024, risk assets rebounded, with positive returns across various hedge fund strategies, particularly in Equity Hedged and Relative Value sectors. Macro and discretionary trading strategies also performed well, driven by favorable positions in rates and commodities, despite some mixed results in energy and metals. Overall, the market showed a constructive outlook following the US election, with significant performance dispersion among managers.
UBS has upgraded Honda Motor Co Ltd's stock rating from Sell to Neutral, adjusting the price target from JPY1,400 to JPY1,300 following a 30% decline in share price since March 2024. The firm noted that the market capitalization of JPY6 trillion indicates limited downside risk, despite a 10% reduction in EPS estimates for the fiscal year ending March 2025 due to rising product-quality costs and BEV losses. Future earnings projections for subsequent years have also been lowered by 4-5%, reflecting anticipated increased incentives and ongoing BEV challenges.
Markets experienced turmoil following the Federal Reserve's indication of fewer rate cuts in 2025, strengthening the dollar and prompting global central banks to reconsider their policies. While the S&P 500 and Nasdaq fell slightly, the Dow broke a 10-day losing streak, suggesting mixed investor sentiment amid heightened volatility. The upcoming U.S. personal consumption expenditures price index is expected to significantly influence market reactions.
UBS has upgraded Honda Motor Co Ltd's stock rating from Sell to Neutral, adjusting the price target from JPY1,400 to JPY1,300 following a 30% decline in share price since March 2024. The firm noted that the market capitalization of JPY6 trillion indicates limited downside risk, despite a 10% reduction in EPS estimates for the fiscal year ending March 2025 due to increased product-quality costs and BEV losses. Future earnings projections for subsequent years have also been lowered by 4-5%, reflecting anticipated higher incentives and ongoing BEV challenges.
MEET48 is set to revolutionize the entertainment industry with its AI-driven idol platform, Mars Protocol, launching in Q1 2025. This innovative ecosystem combines Web3 technology with fan engagement, allowing users to create and interact with AI idols while participating in a decentralized economy through IDOL tokens and Meme coins. With a peak of 537,000 daily active users, MEET48 is positioned as a leader in the global fan economy, supported by a $50 million investment in R&D.
Asian shares fell to a three-month low as investors awaited crucial U.S. inflation data, with the dollar reaching a two-year peak. The Bank of Japan's dovish stance and steady lending rates contributed to the yen's decline, while U.S. Treasury yields surged, reflecting market concerns over economic policy and geopolitical uncertainty.
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 a stronger dollar 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.
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