FOR global investors trying to the gauge the fallout from surging interest rates and slowing economic growth, Hong Kong is quickly emerging as a must-watch market. Perhaps nowhere else is as exposed to two of the biggest worries roiling global asset prices – the Federal Reserve’s (Fed) rapidly tightening monetary policy and China’s sputtering economy. While Hong Kong’s US$466bil (RM2 trillion) foreign-reserves stockpile and plentiful interbank liquidity suggest little chance of an imminent crisis, signs of financial stress are building. This week saw the city intervene to prop up its pegged currency for the first time since 2019. Its stock market has tumbled this year at one of the fastest rates globally. Home prices in the world’s least affordable property market are falling and signs of capital flight are multiplying, after portfolio outflows last year topped US$100bil (RM440bil) for only the second time since Hong Kong’s 1997 handover to China. “There’s a lot the city … [Read more...] about Hong Kong becomes world’s must-watch market
King kong franchise
TikTok time: Art Basel HK welcomes ‘art influencers’ to its upcoming edition
For several months now, a new type of content creator has been springing up on social networks: art influencers. If they have quickly become the darlings of museums, art fairs are still reluctant to call on these art world newcomers. Now, Art Basel plans to welcome them to its next edition in Hong Kong, but only on certain conditions. Since its inaugural edition in 2013, Art Basel Hong Kong has attracted different types of audiences, from art collectors to gallerists and dealers, artists, journalists and now influencers. The fair's organisers have recently decided to offer content creators the opportunity to get accredited, in order to take their followers behind the scenes of the event. However, they will have to follow several rules of good conduct, reports Artnet News. For example, there's no question of doing "lives" in the aisles of the fair, let alone photographing other visitors without their permission. Accredited influencers are also asked to ensure they credit the … [Read more...] about TikTok time: Art Basel HK welcomes ‘art influencers’ to its upcoming edition
Here’s What’s New In Las Vegas For Summer 2022
Share to Twitter Share to Linkedin Las Vegas is back in full force. Mask mandates have been lifted and the destination is busier than ever. For those who are headed out to Sin City in the coming months, there are plenty of new spots to check out. From swanky supper clubs to a lounge inspired by Paris, there’s no shortage of options when it comes to food and drinks. There’s even a unique Cirque du Soleil show, plus many other activities for some family-friendly fun. And if you have a go-to hotel on the Strip, you may just be surprised with some recently renovated accommodations at one of your favorite properties. Below, a full look at what’s new in Las Vegas for this summer. Restaurants Delilah While Delilah opened mid-July of last year, this is one spot you can’t miss if you weren’t able to make it this past summer. The restaurant is a modern take on a supper club, but done so in a way that still recalls the 1950s. Guests descend an imperial staircase … [Read more...] about Here’s What’s New In Las Vegas For Summer 2022
Stocks’ Decline Steepens on Bullard’s Rate Hike Comments, Inflation Data
Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Bullard backs at least a half-point hike on the way to a full point gain before July, the Federal Reserve Bank of St. Louis president told Bloomberg News in an interview today. Bullard votes on monetary policy. Key Takeaways Stocks fell further this afternoon as the Fed's James Bullard said he'd like to see rates a full percentage point higher by July. Stocks had been pulling back from the morning's steep declines as strong corporate earnings from Walt Disney and Mattel partially offset stronger-than-expected inflation data. The Consumer Price Index report released today revealed an annual inflation rate of 7.5%, higher than expected and the largest increase in 40 years. Bond yields rose to their highest since July 2019. Today's Market Movers Stocks had pulled back from the morning's steep declines, with some indexes moving … [Read more...] about Stocks’ Decline Steepens on Bullard’s Rate Hike Comments, Inflation Data
Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters
Stocks are falling after hiring in January blew past expectations, raising concerns that the Federal Reserve will lift interest rates aggressively to prevent the economy from overheating. The U.S. added 467,000 jobs last month, the Labor Department reported today. That crushed economists' expectations for 150,000 hires, driving stocks lower despite Amazon.com, Inc. ( AMZN ) gaining after a solid earnings report . Key Takeaways Stocks are falling for a second day after January hiring crushed expectations and raised concerns that the Federal Reserve will lift interest rates aggressively. Amazon is gaining around 10% and Snap more than 40% after reporting solid earnings growth. The yield on the 10-year Treasury note jumped past 1.9%, its highest in more than a year. Crude oil soared past $90 per barrel. The Dow Jones Industrial Average , S&P 500 , and Nasdaq indexes are all lower, following big declines in each yesterday. Crude oil soared past $90 per … [Read more...] about Stocks Drop as Blowout Jobs Report Increases Rate-Hike Jitters
Stocks’ Rout Deepens as Oil Soars and Russian Invasion Raises Recovery Worries
U.S. equity markets are sinking as Russia escalates attacks on Ukraine, raising concerns about disruptions of oil and other commodities. The Dow at one point was down more than 600 points, while crude oil approached $107 a barrel. Key Takeaways The Dow Jones fell more than 600 points as crude oil surged past $105 a barrel and financial and travel company shares slumped. Wheat and corn futures traded limit up as both Russia and Ukraine are major exporters, with wheat hitting prices not seen since 2008. Retailers including Target and Walmart are trading higher. Oil prices are soaring to more than $105 a barrel, the highest they’ve been since 2014. Wheat and corn futures traded limit up as both Russia and Ukraine are major exporters. Wheat prices are at levels not seen since 2008. Investors continued to put money into haven investments. Bond prices are rising with the yield on the 10-year Treasury note falling another 11 basis points (BPS) to 1.72%. Gold and … [Read more...] about Stocks’ Rout Deepens as Oil Soars and Russian Invasion Raises Recovery Worries
Stocks Gain as Tech Rallies and Investors Await Fed Rate Decision
U.S. stock futures are moving higher, led by technology shares on the Nasdaq exchange, after another volatile day of trading ahead of an announcement from Federal Reserve policymakers about the future of monetary policy . Key Takeaways U.S. stock futures are moving sharply higher, led by technology shares on the Nasdaq exchange. Traders are awaiting a 2 p.m. Eastern time announcement from Federal Reserve policymakers about the future of monetary policy. Cryptocurrencies' rally continued. Oil again marched higher, and the dollar strengthened against the euro. Bond yields fell. Microsoft Corporation ( MSFT ) helped lead tech shares higher after reporting fiscal second quarter results that beat expectations while forecasting better-than-expected quarterly sales for the current quarter. Tesla, Inc. ( TSLA ), scheduled to report earnings after markets close today, is also gaining. The Dow Jones Industrial Average (DJIA) was down more than 800 points … [Read more...] about Stocks Gain as Tech Rallies and Investors Await Fed Rate Decision
Golden arches to go dark in Russia as McDonald’s exits after 30 years
- A + A BENGALURU (May 16): McDonald's Corp on Monday became one of the biggest global brands to exit Russia, laying out plans to sell all its restaurants after operating in the country for more than 30 years, following the invasion of Ukraine. The world's largest burger chain, which owns about 84% of its nearly 850 restaurants in Russia, will take a related non-cash charge of up to US$1.4 billion following its sale. McDonald's had in March decided to close its restaurants in the country, including the iconic Pushkin Square location in central Moscow — a symbol of flourishing American capitalism in the dying embers of the Soviet Union. The burger chain represented the thawing of Cold War tensions and became a way to sample Western food and spirit for millions of people, even though the cost of a burger was several times bigger than the daily budgets of many city dwellers. "Some might argue that providing access to food and continuing to employ tens of thousands … [Read more...] about Golden arches to go dark in Russia as McDonald’s exits after 30 years
Agong meets with new UAE President in Abu Dhabi
Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah with President of the United Arab Emirates (UAE) Sheikh Mohamed bin Zayed Al Nahyan (2nd right) at Mushrif Place, Abu Dhabi, UAE on Monday, May 16, 2022. (Photo credit: [email protected] Negara) - A + A KUALA LUMPUR (May 16): Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah on Monday (May 16) departed to visit the President of the United Arab Emirates (UAE), Sheikh Mohamed bin Zayed Al Nahyan at Mushrif Place, Abu Dhabi at around noon local time. According to Comptroller of the Royal Household for Istana Negara Datuk Ahmad Fadil Shamsuddin, His Majesty was received by Sheikh Mohamed bin Zayed Al Nahyan. “During the face-to-face meeting that lasted almost an hour, His Majesty conveyed his condolences to the President and the UAE government, and congratulated Sheikh Mohamed Zayed Al Nahyan on his appointment as the new President and head of state of the UAE,” … [Read more...] about Agong meets with new UAE President in Abu Dhabi
Ice Seguerra on the only ‘change’ in relationship with Liza Diño: ‘Mas mahal kita ngayon kaysa kahapon’
Ice Seguerra and Liza Diño. Image: Instagram/@iceseguerra Ice Seguerra assured that his love for his wife, Liza Diño, only grows stronger every day despite the many changes they have gone through as a couple. Seguerra penned the heartwarming message on Instagram earlier today, Oct. 14, to celebrate the date, which he yearly does. Despite the annual ritual, the musician has yet to disclose the reason why this day is special. “Totoo yun na minsan, nalilimutan na natin magbatian kapag may mga special days tayong dumarating. Nalilimutan mag celebrate, kumain sa labas,” he said. “Totoo yun, maraming nag bago. Pero hindi natin hahayaan ang mga pagbabagong yun na baguhin ang meron tayo.” (It is true that sometimes, we forget to greet each other on our special days. We forget to celebrate and eat outside. It is true that many things have changed. But we would never let these changes change what we have.) “Hindi magbabago ang pagka wasak ko sa iyo. Sa ganda mo, mula noon hanggang … [Read more...] about Ice Seguerra on the only ‘change’ in relationship with Liza Diño: ‘Mas mahal kita ngayon kaysa kahapon’