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On February 5th, Faraday Future (FF) held its final launch event for its "EAI Human-Vehicle+" embodied intelligent robot products, officially announcing the establishment of its EAI Robotics company and launching four series of EAI robots: Futurist, Master, Aegis, and Wheel-Arm series. The Futurist, Master, and Aegis series were launched first. The starting price for the Futurist series is $34,990. As of the end of the event, FF EAI robots had received 1,211 paid pre-orders.February 5th - Following WeChats blocking of its own Tencent Yuanbao red envelope links, Baidus Wenxin Assistant red envelope sharing links have also been blocked by WeChat. The page displays a message stating that the webpage contains content that induces or misleads downloads/redirects users, requiring them to access it through a third-party browser. After being blocked by WeChat, Baidu has switched to distributing red envelopes via "password red envelopes," requiring users to manually copy the password into the Baidu app to participate. As of press time, Baidu has not responded.S&P 500 futures and Nasdaq 100 futures gave up their gains and turned flat.February 5th - Despite continued vigilance from forex traders regarding potential intervention by the Japanese government, Rinto Maruyama, a strategist at Sumitomo Mitsui Nikko Securities, believes the yen may weaken further. In a research report, Maruyama noted, "If the authorities remain cautious about the current yen weakness, or if market concerns about fiscal expansion intensify, investors wariness of a yen appreciation may lessen." He added, "Even with lingering intervention concerns, the market seems to have reached a consensus that the USD/JPY exchange rate still has an upward bias."According to The Information, OpenAI is hiring hundreds of "frontier deployment engineers" to win business from large enterprises.

Fears of Stagflation Caused by Tightening Policies Increase As Asian Stocks Fluctuate

Haiden Holmes

Jun 15, 2022 11:11

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Asia-Pacific stocks were mixed this morning, Wednesday. Ahead of a U.S. Federal Reserve meeting that is likely to provide strong tightening decisions, U.S. share markets continued to decline.


Nikkei 225 dropped 0.67 percent at 10:49 PM ET (2:49 AM GMT).


The KOSPI decreased by 1.21 percent.


Australia's ASX 200 index declined 0.38 percent.


Hong Kong's Hang Seng gained 1.14 percent .


Shenzhen Component rose 0.49 percent and Shanghai Composite rose 0.90 percent.


China's industrial output climbed by 0.7% year-over-year in May, according to statistics released on Wednesday, which was marginally higher than market estimates. In April, a decrease of 2.9% was seen, whereas Investing.com had expected a decrease of 0.7%.


Nonetheless, as Beijing saw clusters of COVID-19 breakouts, the city's officials warned on Tuesday that the city was in a "race against time," heightening concerns that the reinstatement of harsh restrictions might harm the city's economy and global supply chain.


The S&P 500 finished down for the fifth consecutive day due to concerns that Fed measures to tighten monetary policy to calm raging inflation might lead to stagflation.


Investors are now betting on aggressive interest rate rises, such as 75 basis points from the Fed, which would be the largest increase since 1004


Steve Englander, director of global G10 FX research at Standard Chartered Bank, wrote in a note, "Inflation is front and center in the headlines and asset markets, and few are voicing worry about over tightening the monetary policy."

After their greatest decline in decades, Treasuries stabilized. Two-year rates recovered after reaching a level not seen since 2007, while 10-year yields retreated from around 3.5 percent.


Barbara Ann Bernard, chief investment officer of Wincrest Capital Ltd., told Bloomberg, "The sooner they are explicit about how rapidly they would increase interest rates and what amount of inflation they consider acceptable, the sooner the markets will settle down."


The Bank of England will announce its policy decision on Thursday, while the Bank of Japan will announce its decision on Friday.


Bitcoin's value on the cryptocurrency market steadied at $22,000.


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