EUR/USD 1.14243
-0.031%
Gold 4140.16
-1.221%
Oil 73.472
-0.582%
USD/JPY 161.587
0.007%
GBP/USD 1.32414
-0.054%
GBP/JPY 213.969
-0.039%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Alibabas Hong Kong-listed shares (09988.HK) fell below HK$100, hitting a new low since April 2025, and are currently down more than 3%.The Hang Seng Tech Index fell by more than 2%, with MINIMAX-W (00100.HK) falling by more than 12% and Zhipu (02513.HK) falling by more than 9%.June 23 - Matthew Lynn, a financial columnist for The Daily Telegraph, stated that the US-Israeli military action against Iran was a perfect storm for the energy market, with experts vying to issue the most extreme oil price predictions. However, disaster did not occur. Oil prices did surge, but in real terms, they didnt even reach record highs. In 2008, oil prices reached $147 per barrel, equivalent to $224 today. Now, no one expects emergency measures to curb energy consumption, nor is anyone worried about interest rates soaring to 13% or unemployment skyrocketing. The era of what could be called a "long-term oil crisis," from 1973 to 2026, has ended. This will have three profound impacts. First, the importance of the Middle East will significantly decrease. Second, inflation will be contained. The US is likely to see prices remain almost unchanged year-on-year for the next decade or even longer. Third, and most importantly, the global economy will become more stable. The importance of oil as a commodity has been diminishing over the years. Of course, oil remains very important, but it will be much harder for it to dominate headlines again. Its era has passed, and the world will become more stable as a result.Hong Kong stocks opened higher but closed lower, with the Hang Seng Index down 1% and the Hang Seng Tech Index down 1.8%.Most Hong Kong-listed tech stocks declined, with Tencent Music (01698.HK), Bilibili (09626.HK), and JD.com (09618.HK) falling by more than 4%, Kuaishou (01024.HK) falling by more than 3%, and Xiaomi Group (01810.HK), Alibaba (09988.HK), and Tencent Holdings (00700.HK) falling by more than 2%.

Crypto Assets Shed $800 Billion in Market Value in A Month

Skylar Shaw

May 11, 2022 10:34

微信截图_20220419102428.png


According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

Suggestion