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On May 16th, Berkshire Hathaway released its first-quarter holdings report (13F). Berkshire increased its holdings in Alphabet (GOOGL.O), The New York Times, and other stocks in the first quarter. Alphabet saw an increase of over 36 million shares, raising its stake from 2.04% to 5.93%. It completely sold off its holdings in Amazon (AMZN.O), Visa (VN), Mastercard (MA.N), and UnitedHealth Group (UNH.N). It reduced its holdings in Chevron (CVX.N) and Bank of America (BAC.N). It established a position in Delta Air Lines (DAL.N), purchasing 39.8 million shares, with a market value of approximately $2.65 billion. Its holding in Apple (AAPL.O) remained unchanged, ending three consecutive quarters of reductions; Apple remains its largest holding. Overall, Berkshires holdings in US stocks were valued at $26.3 billion as of the first quarter, compared to $27.4 billion in the previous quarter. During the quarter, the company bought approximately $16 billion worth of stocks and sold approximately $24 billion worth, resulting in a net sale of approximately $8.15 billion. The number of stocks held plummeted from 42 to 29, indicating a significant increase in market concentration.On May 16th, Bridgewater Associates, the worlds largest hedge fund, released its Q1 2023 13F report on its US stock holdings as of the end of March. The report shows that Bridgewater established new positions in 214 stocks, increased its holdings in 292 stocks, liquidated 261 stocks, and reduced its holdings in 487 stocks during the first quarter. Bridgewater significantly increased its holdings in chip stocks such as Nvidia (NVDA.O), Broadcom (AVGO.O), and Micron Technology (MU.O) during the first quarter, while liquidating its holdings in enterprise software stocks such as Salesforce (CRM.N) and ServiceNow (NOW.N), and reducing its holdings in Adobe (ADBE.O). As of the end of Q1, Bridgewaters US stock holdings were valued at $22.4 billion, compared to $27.4 billion in the previous quarter. Specifically, Bridgewater increased its holdings in Nvidia by 827,800 shares, raising its stake from 2.63% at the end of last year to 3.65%; it increased its holdings in Broadcom by 670,000 shares, raising its stake from 1.47% to 2.54%; and it increased its holdings in Micron Technology by 586,000 shares, raising its stake from 0.93% to 2.23%. In addition, Bridgewater initiated its first position in TSMC with 1.077 million shares, which accounted for 1.62% of its portfolio as of the end of the first quarter.On May 16, US President Trump posted on social media that the US military and the Nigerian armed forces carried out a joint operation that evening to "eliminate" Abu Bilal Minuki, the number two leader of the extremist group "Islamic State".US President Trump: Abu-Bilal al-Minuki, the second-in-command of the Islamic State extremist group, has been eliminated. The operation was carried out jointly by the US military and the Nigerian armed forces.According to the official measurement of the China Earthquake Networks Center, a magnitude 2.3 earthquake occurred at 11:12 on May 16 in Weichang County, Chengde City, Hebei Province (42.40 degrees north latitude, 117.37 degrees east longitude), with a focal depth of 10 kilometers.

Asian stocks decline as Wall Street euphoria wanes

Aria Thomas

Jun 22, 2022 11:37

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Asian equities fell in tumultuous trading on Wednesday, failing to continue Wall Street's advance as ongoing concerns about interest rates and inflation remained a top priority for investors, and as the Japanese yen reached a new 24-year low versus the dollar.


Asian equities fell in tumultuous trading on Wednesday, failing to continue Wall Street's advance as ongoing concerns about interest rates and inflation remained a top priority for investors, and as the Japanese yen reached a new 24-year low versus the dollar.


MSCI's broadest index of Asia-Pacific equities outside Japan lost 1%, but was up 1.39 % from its more than five-week low on Monday. The Tokyo Nikkei gave up early gains and remained unchanged.


Investors continue to evaluate how concerned they should be that central banks would force the global economy into a recession as they strive to curb soaring inflation with interest rate hikes.


Overnight, the major U.S. stock indexes gained 2% on the potential that the economic picture may not be as bleak as feared during trading last week, when the S&P 500 recorded its worst weekly percentage fall since March 2020.


"I believe that the current post-holiday bear market recovery is a reflection of investors' anxiety as to whether inflation and Fed hawkishness have reached their apex — I think we're near," said Invesco's global market strategist for Asia Pacific, David Chao.


Even while I believe global stock markets will conclude the year higher than where they are currently, it is possible to anticipate continuing market volatility until it becomes evident that the Fed will not push the U.S. economy into recession in order to combat persistent inflation.


S&P 500 and Nasdaq futures dipped nearly 0.5 percent, indicating that Wall Street may not be able to duplicate Tuesday's rise.


Chinese blue chips were down 0.4%, Hong Kong's Hang Seng Index was down 0.9%, and Korea's KOSPI was down 1.78%.


The chairman of the U.S. Federal Reserve, Jerome Powell, is scheduled to begin his testimony before Congress today. Investors are waiting for more hints on the likelihood of another 75 basis point rate rise at the Fed's July meeting.


Most other global central banks are in a similar position, with the exception of the Bank of Japan, which committed last week to retain its ultra-low interest rate policy.


The disparity between low interest rates in Japan and increasing interest rates in the United States has weighed on the yen, which touched a record 24-year low of 136.71 per dollar in early trade before recovering to 136.18.


Wednesday's publication of the minutes from the Bank of Japan's April policy meeting revealed the central bank's worry about the effect of the falling yen on the country's economic climate.


On Wednesday, other currency movements were more subdued, with the dollar index, which monitors the greenback versus six rivals, edging up to 104.6.


At 3.2674, the yield on benchmark 10-year U.S. Treasuries remained relatively stable.


A person briefed on the proposal told Reuters that U.S. President Joe Biden is anticipated to ask for a temporary suspension of the 18.4-cent-per-gallon federal tax on gasoline on Wednesday.


Brent declined 2.1% to $112.27 per barrel, while U.S. crude slid 2.21 percent to $108.09 per barrel.


The spot price of gold decreased 0.21 percent to $1828.70 per ounce.


Bitcoin continues to trade at $20,640 a week after reaching a low of $17,592.