Category: business
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Asian Stocks Plunge Amid Valuation Fears, Tech Sector Takes Major Hit
SINGAPORE – Asian stock markets experienced sharp swings on Wednesday as investors reacted to a global selloff and rising volatility, driven by concerns over stretched valuations in tech and AI-related stocks. Tokyo’s Nikkei 225 (.N225) tumbled nearly 7% from Tuesday’s record high before recovering to close down 2.8%. South Korea’s Kospi (.KS11) plunged as much
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Pound Sterling Stabilizes Ahead of Bank of England Meeting
LONDON – The British pound (GBP) steadied on Wednesday as traders positioned themselves ahead of Thursday’s highly anticipated Bank of England (BoE) policy decision. Despite this, sterling remains near a seven-month low against the U.S. dollar (USD) and at its weakest level in over two years versus the euro (EUR). Markets are currently pricing in
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China Suspends Retaliatory Measures Against U.S. Entities, Eases Export Controls
BEIJING, Nov 5, 2025 – China announced it will lift export control measures against 15 U.S. entities and continue to pause restrictions for 16 more entities for one year, effective November 10, according to a statement from China’s Commerce Ministry. In addition, China will remove or suspend measures imposed earlier this year on certain U.S.
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China Launches “Big Market for All” Initiative to Boost Imports and Promote Win-Win Trade Cooperation
SHANGHAI, Nov 4, 2025 – China announced a major initiative to increase imports and position itself as a global trade destination, amid rising trade surpluses and tensions with the United States. The program, titled “Big Market for All: Export to China,” will feature 10 major trade events annually, each involving five to six countries, aiming
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SoftBank’s PayPay U.S. IPO Review Delayed Amid Government Shutdown
Tokyo, November 5, 2025 – The planned U.S. listing of Japan’s leading payments app, PayPay, has been stalled due to the ongoing U.S. government shutdown, according to SoftBank Corp. (9434.T) President Jun Miyakawa. SoftBank’s PayPay has been preparing for a U.S. initial public offering (IPO), which investors had anticipated could value the company at over
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Swiss Franc and U.S. Dollar Hold Firm Amid Risk-Off Sentiment in Asia
The Swiss franc and U.S. dollar maintained strength on Wednesday as risk aversion rippled through Asian markets, while safe-haven flows eased by the European morning. After spiking to its highest level since April 1 at the close of Tuesday trading, the dollar held steady, and the Swiss franc remained elevated. Asian equities fell sharply following
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Bank of Japan Considers Interest Rate Hike, September Minutes Reveal
Policymakers at the Bank of Japan (BOJ) are increasingly considering an interest rate hike, according to minutes from the central bank’s September meeting released Wednesday. The notes show that two board members advocated for an immediate rise, reflecting growing momentum for tighter monetary policy. During the two-day meeting ending September 19, the nine-member BOJ board
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Super Micro Shares Drop Amid AI Server Delivery Delays
Super Micro Computer (NASDAQ: SMCI) shares fell more than 9% in premarket trading Wednesday after the AI-focused server manufacturer reported quarterly revenue and profit below Wall Street expectations. The company attributed the shortfall to delivery delays caused by recent design changes. According to Super Micro, “design win upgrades” pushed approximately $1.5 billion in anticipated first-quarter
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Ex-GWG Chair Bradley Heppner Indicted on Securities and Wire Fraud Charges
Key Highlights: WASHINGTON, Nov 4 (Reuters) – Bradley Heppner, former chairman of bankrupt financial services company GWG Holdings and founder of alternative asset firm Beneficent, has been indicted on five criminal charges, including securities fraud and wire fraud, the U.S. Department of Justice announced on Tuesday. The indictment, filed in the Southern District of New
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UK Savers Rush to Withdraw Pension Cash Ahead of Budget Amid Tax Speculation
Key Highlights: LONDON, Nov 5 (Reuters) – British savers are increasingly withdrawing cash from their pension pots ahead of this month’s budget, spurred by speculation over possible changes to tax-free pension withdrawals, according to leading wealth managers. Most UK savers can currently access up to 25% of their pension as a tax-free lump sum. Some
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