{ }
Foreign automakers are struggling to maintain their market share in China's rapidly evolving electric vehicle sector, with many facing declining revenues and increased competition from domestic brands like BYD and Geely. Analysts suggest that partnerships with local companies are essential for survival, as traditional fossil fuel-based manufacturers adapt to a market where new energy vehicles dominate. Despite the challenges, foreign firms are investing in joint ventures and advanced technologies to remain competitive, though the landscape remains fiercely competitive.
Mori Hamada & Matsumoto has partnered with litigation funder LCM to represent Japanese investors in a $150 million claim against Switzerland over the $17 billion write-down of Credit Suisse AT-1 bonds. The claim is based on the Japan-Switzerland Economic Partnership Agreement, allowing arbitration for Japanese investors. The firm aims to file proceedings by the end of 2024, emphasizing that third-party funding is crucial for investors to pursue justice without prohibitive costs.
Asian liquefied natural gas prices surged to their highest level this year, driven by increased competition from Europe for heating and power generation fuel. The Japan-Korea marker reached approximately $15.3 per million British thermal units, marking the highest point since early December 2023, as European benchmarks also saw gains.
US equity markets surged, with the Dow Jones gaining 461 points as investors shifted to cyclical stocks amid a resilient economy, while the ASX 200 hit a record high of 8446, driven by strong energy, banking, and resource sectors. Key economic indicators showed a decline in US housing starts and a drop in jobless claims, while inflation rates in the UK and Japan saw mixed results. Upcoming data releases include the US FOMC meeting minutes and Australia's monthly CPI indicator, which may influence future monetary policy decisions.
IG
Asian stocks and gold rose following gains on Wall Street, as investors moved past initial concerns regarding Nvidia Corp.'s revenue outlook. Shares in Australia, Japan, and Hong Kong increased, while Chinese stocks fluctuated after a decline in US-listed Chinese equities. Nvidia's strong performance and assurances about its AI-driven growth contributed to a positive market sentiment, with expectations of pro-growth policies under a potential Trump administration further supporting US equities.
Japan, once a leader in semiconductor technology during the 1980s, has struggled to keep pace with countries like Taiwan and South Korea following the dotcom bubble. As the nation seeks to revitalize its chip industry, it aims to reclaim its status as a global tech powerhouse.
Asian markets are poised for a positive start, with major indices like the Nikkei and ASX showing gains. The Singapore Blue Chip index is nearing its November 2021 high, having surged nearly 33% since August, while Japan's CPI data supports potential rate hikes by the Bank of Japan.
IG
Japan's Prime Minister Shigeru Ishiba announced that the forthcoming stimulus package is expected to have an overall impact of ¥39 trillion ($250 billion), which includes private sector spending. He emphasized the urgent need to raise wages across all generations, highlighting its importance for the present and future.
Alain Bouchard, founder and chairman of Alimentation Couche-Tard Inc., has ruled out a hostile takeover of Seven & i Holdings Co. while maintaining his ¥7.3 trillion ($47.3 billion) buyout proposal. This follows a competing ¥9 trillion management buyout offer from the Ito family, backed by banks and Itochu Corp.
Japan's core inflation in October remained above the central bank's 2% target, with a key index excluding fuel costs showing an acceleration. This persistent inflation is increasing pressure on the central bank to consider raising its currently low interest rates.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.