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Asian shares fell as China reported disappointing economic data for November, while bitcoin surged to new highs, exceeding $106,000. Japan's Nikkei 225 and Hong Kong's Hang Seng both declined, reflecting broader market unease ahead of the U.S. Federal Reserve's upcoming meeting, where further interest rate cuts are anticipated. Oil prices also dropped, with U.S. crude at $70.82 per barrel.
Asian shares fell on Monday following disappointing economic data from China, with retail sales slowing and factory output growth flat. Meanwhile, bitcoin surged to new highs, surpassing $106,000, driven by optimism over a lighter regulatory approach under U.S. President-elect Donald Trump. In the stock market, Japan's Nikkei 225 dipped 0.1%, while Hong Kong's Hang Seng lost 0.8%. The S&P 500 ended nearly flat, marking its first weekly loss after three consecutive gains, despite a significant rise in Broadcom's shares following strong earnings.
Most Asian stocks declined ahead of the U.S. Federal Reserve's interest rate decision, with Chinese shares falling due to disappointing retail sales data, raising concerns about the economy's recovery. Japan's market remained stable as the Bank of Japan is expected to maintain current rates, while South Korea's index showed little change following the president's impeachment. Overall, investor sentiment was cautious globally as markets awaited clarity from the Fed amidst persistent inflation concerns.
Asian stock markets are cautious as rising bond yields challenge equity valuations, particularly in the tech sector. Disappointing retail sales data from China, which rose only 3.0% in November, underscores the need for aggressive stimulus. The Federal Reserve is expected to cut rates by 25 basis points this week, with future easing plans closely watched amid a backdrop of fluctuating currencies and geopolitical uncertainties.
European stock futures are poised to open lower following a decline in Chinese equities, driven by disappointing retail sales data that fell short of expectations. Concerns are heightened by Moody’s credit downgrade of France and a looming vote of confidence for German Chancellor Olaf Scholz, which could lead to snap elections amid economic challenges.In Asia, stocks also fell, with China's retail sales increasing by only 3% year-on-year, below the anticipated 5%. This has raised doubts about the effectiveness of stimulus measures, while Korean stocks faced volatility following the impeachment of President Yoon Suk Yeol.
Asia begins the final trading week of 2024 with a focus on the monthly 'China data dump' and central bank decisions, including a likely rate cut from the Federal Reserve. Investors remain optimistic amid easing monetary policies, while the Bank of Japan may consider a rate hike following positive business surveys. Key Chinese economic indicators, including industrial production and retail sales, are set to be released, alongside concerns over the South Korean won following President Yoon Suk Yeol's impeachment.
South Korea has emerged as a dynamic hub for altcoin trading, with Chainlink and Stellar experiencing significant price surges amid a retail trading boom. However, the innovative GambleFi platform Rollblock, which has raised $7 million in presale, is poised to disrupt the market by targeting the $500 billion gambling industry with its unique revenue-sharing model. As Chainlink and Stellar thrive, the competition intensifies, raising questions about how far Rollblock can outpace its rivals.
The Global Bromhexine Tablet market is projected to grow from USD 875.5 million in 2023 to USD 1,131.7 million by 2032, with a CAGR of 3.7% from 2024 to 2032. This growth is driven by the rising prevalence of respiratory disorders and increasing demand for expectorants. Key players include Sanofi, Teva, and Boehringer Ingelheim, with market segmentation covering applications, types, and distribution channels across various regions.
Ethereum's price could potentially exceed $5,000, according to CryptoQuant, which bases this prediction on its proprietary price band analysis. The current trading price is around $3,920, with an upper band at $5,200, reflecting levels from the 2021 bull market. Despite volatility, Ethereum has shown resilience, recovering from mid-summer lows below $2,500 and maintaining an upward trajectory in late 2024.
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