• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Market News: Trump welcomed Netanyahu and expressed optimism about reaching an Israel-Hamas agreement "this week."On July 7, the 27th Senate election of the Japanese Diet was scheduled for voting on the 20th. The latest opinion poll conducted by Kyodo News from the 5th to the 6th showed that the opposition camp was more popular than the ruling coalition, and nearly half of the respondents hoped that the ruling coalition composed of the Liberal Democratic Party and the Komeito Party would not achieve the goal of more than half of the seats. The Japanese Senate is responsible for legislative review and government supervision. It has 248 seats. The term of office of members is six years, and half of them are re-elected every three years. This election will focus on 125 seats. In addition to 74 constituency seats and 50 proportional representation seats, there is also 1 by-election seat. According to Japanese media, the results of this Senate election will determine the fate of Shigeru Ishibas cabinet. If the ruling coalition wins less than 50 seats, Japanese Prime Minister Shigeru Ishiba may resign or reorganize the ruling coalition.On July 7, Goldman Sachs said it expects the eight OPEC+ members to increase their oil production quotas by 550,000 barrels per day in September, thereby completely canceling the voluntary production cuts of 2.2 million barrels per day. OPEC+ hopes to restore idle production capacity to normal as global oil demand shows resilience. Goldman Sachs said: "The decision to accelerate the pace of production increases announced on Saturday strengthens our confidence. We have pointed out since last summer that OPEC+ will shift to a more long-term balanced strategy, focusing on normalizing idle production capacity and market share, supporting internal cohesion, and strategically restricting US shale oil supply." Goldman Sachs expects that the crude oil production of the eight OPEC+ members will increase by 1.67 million barrels per day from March to September to 33.2 million barrels per day, of which Saudi Arabia accounts for more than 60% of the increase.Jianpeng Holdings (01722.HK) rose more than 105%.Both U.S. and Brent crude oil prices fell by more than 1% during the day, and are now trading at $64.93 per barrel and $67.2 per barrel respectively.

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.