U.S. Stocks Move Back up after Inflation Data

Equities in the U.S. market recovered initial losses during a volatile start to the trading session.  Data published today showed that consumer prices inflation at the fastest pace since 1990.

The S&P 500 reached back to slightly in the green after falling as much as 0.5%. Bitcoin moved past $68,000 and gold jumped to the highest since June.

  • Stoxx Europe is up by 0.24%
  • Dow Jones is down by 0.41%
  • NASDAQ is down by 0.69%

FWD May Shift US IPO to Hong Kong

Reports say that Hong Kong-based Asian insurer FWD Group is considering shifting its $2-$3 billion IPO from the United States to Hong Kong due to various reasons. The company has filed confidentially in June for the New York initial public offering (IPO), but now it is facing delays by U.S. regulators scrutinizing the plan and lack of interest from investors. 

Southeast Asia Internet Economy to Reach $1 Trillion by 2030

According to a report by Alphabet’s Google, Temasek Holdings, and Bain & Company, Southeast Asia’s internet economy is expected to reach $1 trillion by 2030, as millions of more people enter into online shopping and start using food delivery. The report says that the region had added 6 crore new internet users since the start of the coronavirus pandemic, and the total is now at  4.4 crores. Developments in 5G in the region are expected to give a boost to the numbers. Many Indian companies will benefit from this 5G revolution, starting from telecom operators, to network-component manufacturers.

China Market Makes a Perfect V-Shape Recovery

The Chinese Shanghai Composite Index on Wednesday made an amazing recovery and cut the initial losses. The index fell more than 1.5% in the first half and took support at the 3450 level. From there it moved back and closed 0.41% down, near today’s open.

What was the reason for the 1.5% fall? The producer price index rose 13.5% on a YoY basis, the fastest jump in 26 years. The consumer price index(CPI) rose 1.5%, the highest since September 2020, and was above the expectations of a 1.4% gain. The recovery happened after state media reported that authorities are likely to loosen controls for the nation’s real estate companies to issue local-currency notes, part of efforts to prevent a further deterioration in their financing.

U.S October CPI Rises 6.2% YoY

The U.S Labor Department said on Wednesday the consumer price index(CPI) rose 0.9% last month after expanding 0.4% in September. On a YoY basis, the CPI accelerated 6.2%, the largest year-on-year advance since November 1990. The core CPI(excluding the volatile food and energy components), gained 0.6% after increasing 0.2% in September.

Asia’s Most Expensive Apartment Sold in Hong Kong’s Peak Area

A Hong Kong apartment sold for HK$640 million ($82.2 million), making it Asia’s most expensive per square foot in a further sign of buoyancy in the city’s upscale housing market. Wharf Holdings Ltd. and Nan Fung Development Ltd. sold an apartment at Mount Nicholson, one of the most iconic upscale projects in the city, for HK$140,800 per square foot, according to the companies. 


At the recent United Nations Climate Change Conference at Glasgow (COP26), India pledged to achieve net-zero carbon emissions by 2070. The Centre has committed to installing a non-fossil fuel electricity generation capacity of 500 gigawatts (GW) and sourcing 50% of India’s energy requirement from renewable sources by 2030. The government also aims to reduce 1 […]