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A recent Bank of Korea survey reveals that 56% of local financiers and experts are concerned about potential US policy changes following Donald Trump's decisive election victory. This concern ranks as the second highest risk for South Korea, just behind the issue of elevated household debt.
Bitcoin surged past $95,000 for the first time, driven by optimism over a more favorable U.S. regulatory environment under President-elect Donald Trump. Since the election, over $4 billion has flowed into U.S. listed Bitcoin exchange-traded funds, with prices more than doubling this year and rising 40% in just two weeks. Analysts suggest the cryptocurrency is being drawn toward the $100,000 mark, despite being in overbought territory.
The government is at odds with the Reserve Bank of India (RBI) over proposed regulations that would require banks to increase their reserves for infrastructure loans and digital retail deposits. Concerns have been raised that these higher provisioning requirements could hinder credit growth, especially as banks are already facing challenges in raising deposits.
Nvidia reported a 94% year-on-year revenue surge to $35.08 billion for the third quarter, with net income rising 109% to $19.3 billion. Despite beating expectations, shares fell 2.5% in extended trading, as investors reacted to a slower growth rate compared to previous quarters. The company anticipates continued strong demand for its Blackwell chip, but expectations have heightened, leading to a desensitization to its remarkable performance.
UBS analysts predict a period of consolidation for gold due to a stronger dollar and potential US fiscal stimulus concerns, before it climbs to $2,950 an ounce by the end of 2026. They expect gold to reach $2,900 an ounce by the end of next year, driven by central bank demand and geopolitical risks. Gold has surged 28% this year, supported by central bank accumulation and the Federal Reserve's shift to monetary easing.
The Biden administration plans to cancel $4.65 billion of Ukraine's debt, as detailed in a letter to Congress. This move includes forgiving half of a $9 billion loan provided to Ukraine as part of a $60 billion supplemental package approved in April, a concept initially proposed by Donald Trump during his campaign.
Asia-Pacific markets are expected to decline as investors react to Nvidia's strong but slowing quarterly results, with a 94% revenue increase to $35.08 billion. Meanwhile, Indian stocks are under scrutiny following the indictment of Adani Group's chairman for bribery and fraud. In the U.S., Federal Reserve officials express mixed views on inflation and interest rates, with some advocating for further rate cuts while acknowledging ongoing inflationary pressures.
Barclays has downgraded ING Group shares from "overweight" to "equal-weight" and reduced the price target from €21 to €19.50, citing concerns over the impact of low interest rates on the bank's net interest income. Following this cautious outlook, ING shares fell by 1.45% to €15.65 in Amsterdam. The European Central Bank's recent interest rate cuts are expected to continue, posing further challenges for traditional banking operations.
John Barrasso criticized the relationship between the clean energy investment firm Generate Capital and the Biden administration's Loan Programs Office (LPO), which has been active in funding projects despite potential changes under a Trump administration. Business leaders express confidence in securing loans for various energy projects, with significant commitments already made, while some pending applications have faced delays. The future of these projects may hinge on geographic and political considerations, as Republican lawmakers advocate for initiatives in their districts amidst broader fiscal challenges.
Deere & Co., the largest farm machinery manufacturer, is expected to report its worst fourth quarter since 2020, reflecting a challenging period for the agricultural sector. Following two years of declining sales from the 2022 peak, uncertainty looms over the impact of President-elect Donald Trump’s policies amidst falling crop prices.
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