Bloomberg has learned that China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich. Minmin Low reports on Bloomberg Television. (Source: Bloomberg) Source link
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© Reuters. Investing.com– Most Asian stocks rose on Tuesday tracking record highs on Wall Street as the third-quarter earnings season approached, while Chinese stocks fell amid waning optimism over new fiscal stimulus. Regional markets took positive cues from Wall Street, with the and the hitting new peaks on gains in financial and technology stocks. U.S. stock index futures were mildly positive in Asian trade, with focus turning to a string of key Q3 earnings due this week. Chinese markets lagged their peers following weak inflation and trade data released over the past two days. The announcement of new fiscal stimulus…
Optiscan Imaging Limited (ASX:OIL) shareholders might be concerned after seeing the share price drop 23% in the last quarter. But over five years returns have been remarkably great. To be precise, the stock price is 336% higher than it was five years ago, a wonderful performance by any measure. So it might be that some shareholders are taking profits after good performance. Only time will tell if there is still too much optimism currently reflected in the share price.With that in mind, it’s worth seeing if the company’s underlying fundamentals have been the driver of long term performance, or if…
Getty Images; Jenny Chang-Rodriguez/BIPositioning in financial stocks is light relative to other sectors, Morgan Stanley says.It sees the group as underappreciated, citing its exposure to economic strength.Investors have been sticking to defensive and quality stocks despite strong data.Investors are lingering in defensive trades that don’t take advantage of the economy’s strength, Morgan Stanley said, highlighting opportunities in underinvested sectors.The firm — which just last week upgraded cyclical stocks to “overweight” relative to defensives — described the financials group as particularly attractive.Morgan Stanley said net exposure to financials was in the bottom 15th percentile of a historical data series that goes…
By Kirsty Needham SYDNEY (Reuters) – Growth across the Pacific Islands is expected to slow to 3.6% this year, down from 5.8% in 2023, as a post-pandemic rebound fades and Fiji, contributing half of the region’s output, slowed significantly, the World Bank said on Tuesday. A long-term slowdown was caused by weaker investment, increasing climate risks, and structural challenges, a report said. Without immediate action to ramp up investment, Pacific Island nations may struggle to reduce poverty and generate new economic opportunities, it added. The Washington-based global lender said investment had shrunk on average across Pacific Island countries in seven…
By Rahul Trivedi BENGALURU (Reuters) -Bank Indonesia (BI) will leave interest rates unchanged on Wednesday despite inflation falling to its lowest level since 2021, as receding expectations of aggressive U.S. Federal Reserve easing weaken the rupiah, a Reuters poll found. Inflation eased to a multi-year low of 1.84% in September and has been within BI’s target of 1.5% to 3.5% throughout 2024, suggesting the central bank could further lower rates before year-end. Despite BI’s intervention to stabilise the rupiah last week, the currency has fallen more than 3% from a September peak following a strong U.S. employment report. That suggests…
Blackrock CEO Larry Fink has emphasized bitcoin’s growing legitimacy as an investment, calling it an alternative to commodities like gold. Source link
By Mike Scarcella (Reuters) -Google has asked a California federal judge to pause his sweeping court order requiring it to open up its app store Play to greater competition. In a court filing on Friday night, Google said U.S. District Judge James Donato’s injunction order, which goes into effect on Nov. 1, would harm the company and introduce “serious safety, security, and privacy risks into the Android ecosystem.” The tech giant, a unit of Alphabet (NASDAQ:), asked Donato to stay the order while it pursues an appeal. The judge issued the injunction on Oct. 7 in a case brought by…
Cerebras is approaching chipmaking differently. Can it carve out a space for itself in an industry of titans? In this podcast, Motley Fool host Dylan Lewis and analysts Asit Sharma and Jason Moser discuss: The dockworkers strike, its daily cost, and the industries it could impact most. (Editor’s note: This podcast was recorded before the strike was called off.) Upcoming AI chip IPO Cerebras, and how the company is approaching high-performance chips differently than the competition. Fresh earnings from: Nike, Paychex, and McCormick. Two stocks worth watching: PepsiCo and Joby Aviation. October 2024 marks 20 years of Rule Breakers at…
Man Who Accidentally Threw Hard Drive Containing 8,000 Bitcoins Worth Half A Billion Dollars In Landfill Sues Local City Council For Not Excavating The SiteJames Howells, etched in the history books for accidentally discarding Bitcoin (CRYPTO: BTC), which is worth more than half a billion dollars today, took a major step in retrieving them.What Happened: In a last-ditch effort, the Wales-based software engineer filed a lawsuit against Newport City Council for roughly 495.31 million British pounds, or about $647 million, in damages for repeatedly denying his request to excavate the landfill site housing the discarded hard drive, which contains around…