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On September 8th, news broke that Samsung plans to supply image sensors for Apples iPhone 18 series in 2026, challenging Sonys long-held monopoly in the field. Analyst Ming-Chi Kuo noted that plans have changed, and the sensors, originally expected to be mass-produced in 2026, may now be delayed until 2027. He did not disclose the reason for the delay. While Samsung has accumulated years of experience in supplying components such as displays, DRAM, and NAND, it still needs to prove its technological prowess to Apple when it comes to camera image sensors. Kuo also noted that Samsungs ultra-wide-angle image sensors are expected to be introduced first in mid-range and low-end iPhone models.On September 8th, Pepperstones Chris Weston wrote that the departure of Japanese Prime Minister Shigeru Ishiba has shifted the focus to his successor and what this might mean for political stability. Markets will weigh the extent of additional fiscal measures and budgets under the new leadership. "The extent of fiscal stimulus will be crucial to controlling the rise in long-term Japanese government bonds," he said. These developments could be seen as further justification for delaying the Bank of Japans next 25 basis point rate hike until 2026. This expectation is already priced into the market, with swap traders anticipating only a 12 basis point rate hike by December. Weston noted this as another reason why few are currently willing to hold the yen. He expects yen weakness in Asian markets to become widespread.Some Hong Kong stocks with new consumption concepts fell, with Pop Mart (09992.HK) falling more than 6%, BRUCO (00325.HK) falling more than 3%, and Cha Baidao (02555.HK) following suit.The Hang Seng Index in Hong Kong opened at 25,440.01 points on Monday, September 8, up 22.03 points, or 0.09%. The Hang Seng Tech Index in Hong Kong opened at 5,693.99 points on Monday, up 6.54 points, or 0.11%. The CSI 300 Index opened at 9,059.22 points on Monday, up 2.0 points, or 0.02%. The H-share Index opened at 4,260.37 points on Monday, down 7.9 points, or 0.19%.Hang Seng Index futures opened down 0.10% at 25,374 points, 38 points below the spot price.

Crypto Market Daily Highlights – DOGE and ADA Lead a Bearish Top Ten

Cory Russell

Dec 29, 2022 14:11

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For the top 10 cryptos on Wednesday, it was a negative session. Leading the way down were DOGE and ADA, with MATIC and XRP far behind. Notably, BTC fell below $16,500 for the first time in eight sessions while failing to reach $17,000 for the eighth straight session.


Throughout the midweek session, the cryptocurrency market was dominated by a bearish mood. As market worries about Fed monetary policy and the growing possibility of a harsh landing propelled riskier assets into the red, hopes of a post-holiday recovery receded.


With China's economy scheduled to reopen and demand likely to jump, along with Russia's embargo on oil shipments to nations with price limits, concerns about another spike in inflation that would compel the Fed to raise rates longer are still prevalent.


The US unemployment rate is at 3.7%, which is lower than the Fed's target rate of 5.0%. This gives the Fed plenty of leeway to maintain its aggressive interest rate trajectory.


The most recent spike of new COVID-19 cases throughout China is another factor contributing to the long list of economic challenges. While China has eliminated the need for quarantines, other nations are starting to place travel restrictions on people coming from China.


The S&P 500 lost 1.20%, while the NASDAQ Index dropped by 1.35%


US unemployment claims data will be of importance today. Better-than-expected results might trigger another sell-off since investors are uneasy about the Fed. The cryptocurrency market will probably continue to follow the NASDAQ Index until there is a significant crypto event. The NASDAQ mini gained 24.5 points this morning.

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