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Xiaomi Auto: Xiaomi SU7 series deliveries exceeded 500,000 units in 28.5 months.August 17th - Japanese automakers are facing a double whammy from the impact of the Iran war and the potential for a stronger yen. Toyota, Honda, and Nissan have recently benefited from the historically weak yen, with Toyota and Honda raising their full-year earnings forecasts and Nissan achieving its first profit in nearly two years. However, this positive effect may reverse as the yen strengthens. Vincent Sun, senior equity analyst at Morningstar, stated that a stronger yen will force automakers to choose between raising prices overseas and sacrificing profits. The former could lead to a decline in market share, while the latter would compress the yen value of overseas profits. Bernstein predicts that for every 1% appreciation of the yen, Japanese automakers operating profits will typically be affected by about 2%, with some companies potentially experiencing an impact of up to 4%. Analysts also believe that the ongoing conflict in the Middle East could drive up the costs of key raw materials such as naphtha, resins, aluminum, copper, steel, and semiconductors, and increase shipping risks in the Strait of Hormuz and the Red Sea, further squeezing automakers profit margins.Japans 20-year yield rose 6.5 basis points to 3.815%.On August 17th, the Foshan Housing Provident Fund Management Center issued a notice regarding adjustments to the minimum contribution level for housing provident funds in Foshan. The notice clarifies that starting September 1, 2026, the minimum contribution level for housing provident funds in Foshan will be adjusted. Specifically, the minimum contribution base will be set at the minimum wage standard for employed workers in Foshan, which is 2300 yuan. The minimum monthly contribution for employed workers will be 115 yuan for both the individual and employer contributions, totaling 230 yuan. The minimum monthly contribution for self-employed individuals will also be 230 yuan.August 17th - The upcoming New Zealand general election in November may complicate the Reserve Bank of New Zealands (RBNZ) monetary policy tightening, but ANZ senior strategist David Croy believes the RBNZ is still very likely to raise interest rates in October. The RBNZ has clearly stated its intention to return monetary policy to a neutral level. ANZ estimates the neutral interest rate to be around 3% or slightly above 3%, while the current policy rate is 2.50%. Croy stated that with policy remaining stimulative and inflation above target, there is no reason for the RBNZ to pause rate hikes. He believes the current situation is that the RBNZ needs to find a reason not to raise rates in October.

Indian Exchange Volumes Benefiting from Bitcoin Price Drop

Cory Russell

May 12, 2022 10:09

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Bitcoin's anticipated fall from grace in recent days was a phenomenon that surprised investors and dealers. However, this was a happy moment for Indian crypto exchange operators, as trading volumes increased dramatically once BTC's price retested the lower $29,000 zone.

Indian Stock Exchange Volumes Increase

Following a dry period, trade volumes on Indian crypto platforms increased. For the most of this year, Bitcoin and other altcoins experienced a range bound price movement, and Indian crypto exchange volumes were similarly modest.


As bitcoin's price fell by more than 56% from its all-time high of $69,000 in November 2021, transaction volumes increased throughout marketplaces as a result of the selling pressure.


According to accounts from local news organizations, the increase in volumes in India was enormous and lasted almost two days. Trade volumes on crypto trading platforms including WazirX, CoinDCX, and Unocoin increased by 20 to 75 percent.


"Overall volumes increased by 70% between May 8 and 9," stated Nischal Shetty, Co-founder and CEO of WazirX, in an interview. In terms of trading, there is a mood of 'buying the drop,' as buyers have been somewhat controlling the market."


He went on to say that such purchasing activity shows that investor confidence in the market is still high, even at current levels.

India's Web3 Developments Increasing My Pace

According to a recent research, the number of Web3 developers reporting their locations climbed the highest in India and Russia, respectively, increasing to 5.3 percent and 4.3 percent of the market share. The United States, on the other hand, has lost over 20% of its market share since 2015.


With the emergence of Web3 and blockchain development in the Indian subcontinent, an increase in trading volumes amid a wider market fall indicates market players' trust. This meant that Indians succumbed to the "buy the dip" mentality.


"Volatility usually leads to a rise in volume on platforms like ours," said Minal Thukral, Executive Vice President, Growth and Strategy at CoinDCX. We're witnessing an increase in the number of people purchasing the dip and a decrease in the number of users selling it."


However, since the new tax policy took effect on April 1, trade volumes on Indian crypto exchanges have decreased. However, it seems that Indians are increasingly taking greater risks, indicating a growing interest in hazardous asset investments in the country.

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