Nvidia, the chipmaker, experienced a significant surge of 16% after releasing strong earnings and guidance, leading to a 59% year-to-date increase in its stock price. This positive momentum briefly pushed the company’s market cap above $2 trillion during a recent session. While investors continue to flock to artificial intelligence stocks, Nvidia’s remarkable run has raised
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Grab, the Southeast Asian ride-hailing giant, has recently reported its first-ever profitable quarter, with a staggering $11 million in profit. This marks a significant improvement from the $391 million loss recorded during the same period a year ago. The company attributes this boost in profitability to various factors, including an improvement in Group adjusted EBITDA,
The recent surge in the Nikkei 225 to hit a record high of 39,029 is undoubtedly an impressive feat, fueled by robust earnings and investor-friendly measures. The fact that it surpassed the previous record high set in 1989 speaks to the strength of the rally in Japanese equities this year. Both the Nikkei and the
Nvidia recently reported its fourth fiscal quarter earnings, exceeding all expectations on Wall Street. The company’s earnings per share came in at $5.16 adjusted, surpassing the forecasted $4.64. On the revenue front, Nvidia reported $22.10 billion, significantly higher than the expected $20.62 billion. Despite already heightened expectations for growth, Nvidia anticipates even better results for
In a move to boost the country’s sluggish property market, China’s central bank has reduced the benchmark five-year loan prime rate for the first time since June. While the one-year loan prime rate, which is the basis for most household and corporate loans in China, remained steady at 3.45%, the five-year loan rate, crucial for
The U.S. Federal Reserve is anticipated to reduce interest rates in the coming months, a move that may not bode well for the dollar but could prove beneficial for some Asian currencies. When interest rates are heightened, it typically bolsters a country’s currency by attracting foreign investments and increasing demand. Accordingly, a weaker U.S. dollar
The tourism revenues in China experienced a significant surge of 47.3% year-on-year during the eight-day Lunar New Year holidays. This increase was attributed to a domestic travel boom that surpassed the pre-COVID 2019 levels. The holiday, known as the world’s largest annual migration, saw massive crowds at tourist attractions across the country. Impressive Growth in
Japan’s central bank, the Bank of Japan (BOJ), is facing a severe challenge regarding yen depreciation and high inflation. With the divergence between high U.S. interest rates and Japan’s ultra-easy policy, Governor Kazuo Ueda is under pressure to stem yen depreciation. However, the BOJ is also concerned about high inflation rates that they consider unsustainable,
Japan’s economy has dipped into a technical recession, with unexpected contraction in the fourth quarter of 2021. This contraction can be largely attributed to the impact of high inflation, which has crimped domestic demand and private consumption. The provisional gross domestic product (GDP) contracted by 0.4% compared to the same period in the previous year,
Asian markets in the Asia-Pacific region followed the downward trend set by Wall Street after the release of higher-than-anticipated U.S. inflation data for January. The Consumer Price Index (CPI) climbed 3.1% on a 12-month basis and 0.3% for the month, surpassing the predictions made by economists polled by Dow Jones. These experts had expected a