Market

HANOI (Reuters) - Vietnam will delay the launch of the much-expected new stock trading system initially slated for next week, its State Securities Commission (SSC) said.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/download_c7083cd3b2.jpg" alt="download.jpg"></figure>The debut, which had been planned for May 2, has been pushed back due to regulatory roadblocks and the unreadiness to connect to the new system to provide trading services to investors from securities firms, the State Securities Commission (SSC) said in a document dated April 25.Vietnam's main Ho Chi Minh City exchange also failed to report the launch plan to the finance ministry and get needed approvals for information security, according to the document, without elaborating on a new timeframe for the launch.The new trading system provided by the Korea Exchange (KRX) would speed up settlement of transactions, as part of reforms aimed at upgrading the country's stock market.KRX will handle the settlement of transactions within a day, speeding up operations and facilitating trading, especially short selling, which was hampered by the current slower system.If successful, the upgrade would boost the chances of the Southeast Asian nation being reclassified as an emerging market.Both the MSCI and FTSE indices currently classify Vietnam as a frontier market, preventing many funds, family offices and others from investing in companies listed there.

HANOI (Reuters) - Vietnam will delay the launch of the much-expected new stock trading system initially slated for next week, its State Securities Commission (SSC) said.

Vietnam delays launch of new stock trading system

SINGAPORE (Reuters) - Asian stocks inched lower on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.Data on Wednesday showed cooling U.S. consumer price inflation, prompting markets to swiftly price in at least two rate cuts this year but the excitement soon fizzled out as the latest report showed the labour market remains tight, while central bankers were still cautious about inflation.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/521a7c728a582c73ee36a499de00c2a0_f702cc92f2.webp" alt="521a7c728a582c73ee36a499de00c2a0.webp"></figure>Traders are pricing in 47 basis points of easing this year from the Fed, with a rate cut in November fully priced in.MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.14% after touching a two-year high on Thursday. The index was still set for an increase of 2.6% this week for its fourth straight week of gains.Japan's Nikkei fell 0.48%, while China stocks grinded higher, with the blue chip gauge gaining 0.15% in early trading.Hong Kong's Hang Seng Index was the bright spot for Asia, rising 0.77% and touching its highest since August 2023."Following the incremental softening of the U.S. data, this is probably as far as the risk rally can go in the absence of tier-1 data over the coming week," said Nicholas Chia, Asia macro strategist at Standard Chartered.While the data this week offered the Fed good news on two fronts, policymakers haven't openly shifted views yet about the timing of rate cuts investors are convinced will start this year.Monetary policy is "restrictive" and "is in a good place," Federal Reserve Bank of New York President John Williams said. "I don't see any indicators now telling me ... there's a reason to change the stance of monetary policy now."Data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, indicating that labour market conditions remain fairly tight even as job growth is cooling.Overnight, the Dow rose as high as 40,051.05 while the S&amp;P 500 and Nasdaq also hit record highs before gradually losing steam and finishing slightly lower on the day. [.N]In the currency markets, the dollar headed for its largest weekly fall versus the euro in 2/1-2 months. The euro is up roughly 1% against the dollar and was last at $1.08595. [FRX/]The yen weakened 0.23% to 155.80 per dollar in early trading, giving back some of the gains it made after the mild U.S. CPI report earlier in the week.The Japanese currency has fallen around 9.5% this year as the Bank of Japan has kept monetary policy loose while higher U.S. interest rates have drawn money towards U.S. bonds and the dollar.Tokyo is suspected to have intervened on at least two days in late April and early May to support the yen after it tumbled to lows last seen more than three decades ago.The yen has been particularly sensitive to any widening of the interest rate differential."While the weaker U.S. data should benefit low-yielders like the yen, the recent price action suggests the Japanese authorities may have more to do beyond verbal jawboning if they intend to keep speculators at bay," Standard Chartered's Chia said."Paring back bond purchases and further rate hikes in the second half of 2024 may be inevitable if the authorities are serious about pushing the dollar-yen pair lower."The BOJ on Friday kept the amounts unchanged at a regular bond buying operation, after unexpectedly reducing purchases of bonds with 5-10 years left to maturity at the start of the week.In commodities, oil prices rose in Asian trading hours, with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil consumer the United States. [O/R]U.S. crude was little changed at $79.18 a barrel and Brent was 0.1% higher at 83.35 per barrel.Gold prices were last at $2,377.25 per ounche. [GOL/]

SINGAPORE (Reuters) - Asian stocks inched lower on Friday as traders pondered the near term U.S. monetary policy path after Federal Reserve officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.

Asian stocks ease on uncertainty over timing of U.S. rate cuts

In the fable "Ali Baba and the 40 Thieves," the eponymous hero gains access to a cave full of riches by uttering the phrase "open sesame."Jack Ma, co-founder of Alibaba &nbsp;(BABA) &nbsp;liked the story so much that he named a Chinese e-commerce giant after the hero of the story."Alibaba is a kind, smart businessperson," Ma said in a 2006 interview. "Alibaba opens sesame for small- to medium-sized companies."Unfortunately, we live in a world that is somewhat short of magic, and riches are not easy to come by.Alibaba&nbsp;has been facing some challenges lately as the company contends with economic headwinds and other pressing issues.For one thing, China's economy has only slowly recovered from the Covid-19 pandemic.A McKinsey &amp; Co.&nbsp;report found that consumer sentiment in China continues to slump as "consumers prefer to sock their cash away in the bank rather than spend it.""While several macroeconomic indicators are pointing in a promising direction, there are a number of areas that are still cause for considerable concern, foremost of which is the continued slump in consumer and business sentiment," the report said.The McKinsey report said last year's collapse in property transactions was a big factor behind the drop in confidence.The study also said that a 5% decline in exports in 2023, zero growth in fixed asset investment by privately owned companies, and double-digit youth unemployment are other key factors driving a reduction in consumer spending and investment.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/How_To_Be_Successful_In_Life_And_Business_According_To_Jack_Ma_00dfa3cc06.jpg" alt="How To Be Successful In Life And Business, According To Jack Ma.jpg"></figure><h2 style="margin-left:0px;text-align:justify;">Alibaba CEO Wu says, 'we are returning to growth'</h2>"While early consumption data for the first two months is promising, the verdict is still out on what this means for the remainder of the year," the report said.The Chinese property sector crisis is facing a financial crisis sparked by the 2021 default of Evergrande Group.Related: Analyst reboots Palo Alto Networks stock price target ahead of earningsEvergrande and other Chinese property developers experienced financial stress in the wake of overbuilding and subsequent new Chinese regulations on their debt limits.China is reportedly considering buying up millions of unsold properties as part of a radical plan to tackle the problem, according to Bloomberg.Meanwhile, Alibaba announced in 2023 that it would split into six business groups, each with the ability to raise outside funding and go public. The company said the move was&nbsp;“designed to unlock shareholder value and foster market competitiveness.”In November, Alibaba said that it would not proceed with the spinoff of its Cloud Intelligence Group, declaring that U.S. chip export curbs have “created uncertainties" for the group's prospects.The company reported fourth-quarter earnings on May 14. It beat revenue forecasts but posted an 86% drop in earnings.Revenue totaled 221.9 billion yuan, or $30.7 billion, compared with 219.66 billion yuan expected.Net income attributable to ordinary shareholders was 3.3 billion yuan, or about $457.14 million, down 86% year over year.Shares initially fell upon the news but have since recovered some losses."Starting in 2024, we've seen a rapid increase in customer demand for AI," CEO Eddie Wu told analysts. "It has also stimulated growth and demand for traditional cloud computing needs, including general computing storage and big data."Therefore, Wu added, "We are actively investing in our cloud computing product matrix, especially in AI infrastructure, to capture the monumental opportunities."Wu said the quarter’s results demonstrate that “our strategies are working, and we are returning to growth.”"Our China and international commerce businesses realized double-digit year-over-year gross merchandise value (GMV) growth through our focus on the customer experience," he added.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/51e06b32c6aa9bfd2d3b4887aa4a24ba_8f1fcc2a05.webp" alt="51e06b32c6aa9bfd2d3b4887aa4a24ba.webp"></figure><h2 style="margin-left:0px;text-align:justify;">Analyst sees 'encouraging quarter' for Alibaba</h2>In response to the earnings announcement, several analysts adjusted the stock price targets for Alibaba.Truist analyst Youssef Squali lowered the firm's price target to $110 from $113 and kept a buy rating on the shares.The company's fourth-quarter results showed good operational execution against an improving macro. Gross merchandise volume and orders at the e-commerce platforms Taobao and Tmall Group returned to double-digit growth, and there are prospects for double-digit growth in Cloud in the second half of FY2025.Squali said he also continues to view FY2025 as an "investment year," which should keep Alibaba's margins in check over the near term, the analyst tells investors in a research note.HSBC raised its Alibaba stock price target to $115 from $114, keeping a buy rating on the shares.The company reported an improved gross merchandise volume outlook, but monetization will take longer, the analyst tells investors in a research note. The firm said Alibaba remains committed to shareholder return.Mizuho lowered the firm's price target on Alibaba to $92 from $95 and kept a buy rating on the shares.The company reported an "encouraging quarter" as gross merchandise volume accelerated due to the demand elasticity of price discounts, and China commerce margin was on track despite facing a mix shift to a lower-priced platform, the analyst told investors in a research note.However, the firm says Alibaba's consolidated EBITA was soft due to long-term investments in international businesses and Cainiao Smart Logistics Network.Citi analyst Alicia Yap lowered the firm's price target on Alibaba to $122 from $124 and kept a buy rating on the shares following the fiscal fourth-quarter report.The analyst sees the company's initial positive progress demonstrated by a reacceleration of growth led by its strategic reinvestment and "undemanding valuation" as further supported by its "solid" shareholder return policy.

In the fable "Ali Baba and the 40 Thieves," the eponymous hero gains access to a cave full of riches by uttering the phrase "open sesame."

Analysts reboot Alibaba stock price target after earnings

Just over six years ago, when Donald Trump first announced tariffs on Chinese goods, it was as if a bomb had gone off. American stocks fell sharply at the prospect of a trade war, businesses warned of blowback and economists lined up to decry the move. Such is the protectionist mood in Washington now that Joe Biden’s announcement of new measures has been met with rather less panic—even though it concerns significantly higher tariffs.On May 14th, following a policy review, the White House decided to raise tariffs on, among other things, Chinese semiconductors and solar cells from 25% to 50%, syringes and needles from 0% to 50% and lithium-ion batteries from 7.5% to 25%. It hit electric vehicles with the biggest increase of all, quadrupling the tariff rate on China-made electric vehicles (evs) from 25% to 100%. Lael Brainard of the National Economic Council said the actions would create “a level playing-field in industries that are vital to our future”. Yet it is American consumers who will pay the price.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Biden_addresses_debating_Trump_protecting_abortion_rights_5_takeaways_from_his_Howard_Stern_int_b30dff004d.jpg" alt="Biden addresses debating Trump, protecting abortion rights_ 5 takeaways from his Howard Stern int___.jpg"></figure>Just over six years ago, when Donald Trump first announced tariffs on Chinese goods, it was as if a bomb had gone off. American stocks fell sharply at the prospect of a trade war, businesses warned of blowback and economists lined up to decry the move. Such is the protectionist mood in Washington now that Joe Biden’s announcement of new measures has been met with rather less panic—even though it concerns significantly higher tariffs.On May 14th, following a policy review, the White House decided to raise tariffs on, among other things, Chinese semiconductors and solar cells from 25% to 50%, syringes and needles from 0% to 50% and lithium-ion batteries from 7.5% to 25%. It hit electric vehicles with the biggest increase of all, quadrupling the tariff rate on China-made electric vehicles (evs) from 25% to 100%. Lael Brainard of the National Economic Council said the actions would create “a level playing-field in industries that are vital to our future”. Yet it is American consumers who will pay the price.&nbsp;Relative to Mr Trump’s China tariffs, the new levies are both more targeted and more dramatic. Mr Trump’s tariffs in time sprawled to cover over $350bn-worth of imports from China, mostly at a 25% rate. Mr Biden’s tariffs cover about $18bn-worth of imports, though at far more prohibitive rates. The impact is thus not on current trade flows, but on future potential. For example, in Europe, where China-made cars (including Western brands) face a more modest tariff of 10%, they have taken nearly a quarter of the ev market. In America, by contrast, there are few Chinese-made evs on the road today. Owing to the new ultra-high tariffs, it will surely stay that way.Within America, the tariffs are aimed at protecting nascent industries rather than large, thriving ones. Under Mr Biden, the American government is spending hundreds of billions of dollars to build up domestic ev manufacturing, semiconductors, batteries and more. This has prompted a boom in factory construction, including in America’s rust belt, but it will be another few years before production lines really kick into gear. The aim is for the new tariffs to buy them time.Unlike with Mr Trump’s initial salvo of tariffs, criticism from American business has been muted. Six years ago many still saw promise in the Chinese market. Such hopes have been beaten down by the fraying of relations between the two countries and the rising challenge from Chinese companies. True believers in free trade—especially with China—are now a vanishing breed in Washington, not to mention other global capitals. The European Commission is in the midst of an anti-subsidy investigation that could also lead to higher tariffs on Chinese evs.Higher tariffs on Chinese products will push up prices for American consumers. The immediate effect will be limited, because so much trade in tariff-hit categories has already shifted away from China. But domestic producers may also feel less of an incentive to develop cheap goods in the long term, knowing that they are shielded from foreign competition. The tariffs can also be seen as a lost opportunity for the environment. Lower prices for evs, solar panels and batteries would have boosted their appeal to consumers, as is essential if America is to green its economy.Mr Biden’s move also arguably displays more disregard for trade rules than Mr Trump’s tariffs. Mr Trump used a “section 301” investigation under American trade law to determine that China had hurt American commerce, notably through theft of intellectual property, and then hit it with tariffs as a remedy. Mr Biden’s tariff rises were grounded in a review of those original 301 levies. But the concern has shifted. Rather than begging, borrowing and stealing to catch up to America, China is now well ahead of it in the ev sector and capable of producing a vast number of cars at a much lower cost.There is a case to be made that China achieved much of its advantage through its own unfair mix of protectionism and subsidies. Given this background, the traditional way to forestall a flood of Chinese imports would be to apply countervailing duties. “The Europeans are being a little more intellectually honest and doing that,” said Scott Lincicome of the Cato Institute, a libertarian think-tank. He added that Mr Biden’s new tariffs smack of political expediency, coming just months after Mr Trump had pledged to implement tariffs of 60% on all Chinese products.The levies may also prove to be more harmful than helpful to America’s industrial ambitions. Domestic producers are likely to be more insulated from their fiercest foreign competitors than during past bouts of protectionism. In the 1980s, when it was Japanese cars that provoked angst, Japanese automakers agreed to restrain exports in order to stave off a trade war. That raised costs for American consumers, but Japanese firms ultimately got around the restrictions by investing in America. Because of the current focus on security threats posed by China, its carmakers are not about to follow Japan’s lead. “Without that investment safety valve, how do you ensure that there still is sufficient competition within the American market? That’s the key question,” says Martin Chorzempa of the Peterson Institute for International Economics, a think-tank. Behind a 100% tariff wall, American officials and corporate bosses will have less urgency to come up with an answer.

Just over six years ago, when Donald Trump first announced tariffs on Chinese goods, it was as if a bomb had gone off. American stocks fell sharply at the prospect of a trade war, businesses warned of blowback and economists lined up to decry the move. Such is the protectionist mood in Washington now that Joe Biden’s announcement of new measures has been met with rather less panic—even though it concerns significantly higher tariffs.

Biden outdoes Trump with ultra-high China tariffs

GameStop stock (GME) rose as much as 118% in premarket trading Tuesday, adding to a rally Monday that sent shares of the video game retailer up 74%.Monday's move, in which the stock rose as much as 110% and was halted for volatility several times during the trading session, followed the reemergence of Keith Gill, also known as "Roaring Kitty," whose bull case on GameStop ignited the meme stock rally back in 2021.GameStop shares had been flat year to date ahead of Monday's rally, but had risen about 60% in the past month. GameStop stock is now up over 180% over the last month, not including Tuesday's pre-market gains.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Screenshot_1_44556bab82.png" alt="Screenshot_1.png"></figure>Monday's gain in GameStop was also accompanied by a rally in AMC (AMC), which rose nearly 80%.Early Tuesday, AMC stock was up another 120% in premarket trading. In an SEC filing, AMC also disclosed it issued approximately 72.5 million new shares, raising some $250 million for the company in the process.Other heavily-shorted stocks rallying in premarket trade on Tuesday included SunPower (SPWR), up 55%, Beyond Meat (BYND), up 23%, and The Children's Place (PLCE), up 10%.In a note to clients on Tuesday, Nicholas Colas, co-founder at DataTrek Research, wrote this recent trading action "feels like an echo of early 2021, when this account helped fuel a vicious short squeeze in GameStop."Colas noted that move back in 2021 was quite a bit larger than what we've seen so far this time around, with GameStop stock rising 1,500% in January 2021 before forfeiting most of those gains.The pain short sellers endured during the original meme stock rally three years ago hasn't deterred bets against these companies, however. Short interest in GameStop has remained elevated since that meme rally, data from S3 Partners showed, with 24% of the float sold short as of Monday.Ihor Dusaniwsky, managing director of S3 Partners, told Yahoo Finance on Monday that GameStop shorts were down over $1.3 billion in month-to-date losses in May following Monday's rally.Tuesday's early spike will add to this tally.In Colas' view, a trader short a stock rallying with this kind of aggression is left with only one option: "your only choice is to close out the position regardless of the price.""In the case of GME, you are also afraid that retail traders will be enticed into a replay of 2021," Colas added.&nbsp;

GameStop stock (GME) rose as much as 118% in premarket trading Tuesday, adding to a rally Monday that sent shares of the video game retailer up 74%.

GameStop stock gains more than 100% as meme-stock market returns with a vengeance

Nvidia (NASDAQ: NVDA) stock is on fire. Shares of the artificial intelligence (AI) chip leader have gained 81.5% so far in 2024, and are up 531% over the last three years through May 10. The S&amp;P 500 index has returned 10% and 31.9%, respectively, over these periods.The stock's gains are mostly being driven by powerful demand for the company's AI-enabling graphics processing units (GPUs) and related offerings for data centers. Nvidia has an estimated 80% share of the fast-growing market for data center AI chips.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/e922a0e6828a9f4428b34c34735146f3_298fab3b68.webp" alt="e922a0e6828a9f4428b34c34735146f3.webp"></figure>But can Nvidia stock's great performance continue? Some investors are concerned the company could be hurt by the increasing trend among large technology companies, nearly all of which are Nvidia customers, of developing their own custom AI chips. They are doing so to optimize the chips to their specific AI workloads, which can have monetary and power advantages over using general processors, such as GPUs.There's some good news for Nvidia investors on this front.<h2 style="margin-left:0px;text-align:justify;">Nvidia is reportedly forming a custom chip business unit</h2>Nvidia is forming a new business unit focused on designing custom chips for cloud computing companies and others to use for data center AI and other applications, according to a Reuters' exclusive article published in February. The article named Dina McKinney, a former Advanced Micro Devices (AMD) and Marvell Technology executive, as head of Nvidia's new custom chip business. (Custom chips are also called application-specific integrated circuit, or ASIC, chips.)The Reuters article cited "nine sources familiar with the company's plans." Moreover, it indicated that McKinney's title on her LinkedIn profile, which reportedly had indicated she was heading Nvidia's custom chip business, was changed after Reuters contacted Nvidia for comment. The latter alone gives much credence to the reporting, in my view.That said, I wanted to dig a bit before covering this topic. My perusal of Nvidia's job openings supports the theory that it's building a custom chip unit. Moreover, I found a LinkedIn post from McKinney, indicating she was excited to join Nvidia in her new role heading the custom silicon team.<h2 style="margin-left:0px;text-align:justify;">What big tech companies have developed or are developing custom chips?</h2>The three big tech companies that are leaders in the cloud computing service market -- Alphabet, Amazon, and Microsoft -- now have or will soon have custom AI chips. The companies use (or plan to use) these chips for internal reasons and they are (or will soon be) available on their cloud services.Alphabet was the first mover in this space. In 2015, it began using its tensor processing units (TPUs) for internal purposes and several years later made them available for customers of Google Cloud. In 2018, Amazon released its first version of its custom AI chip Graviton, which is available on Amazon Web Services (AWS). And last November, Microsoft unveiled two custom-designed chips, Maia and Cobalt.As you might expect, Facebook parent Meta Platforms has also designed its own custom AI chip, the Meta training and inference accelerator (MTIA). Apple and Tesla also have custom chips. Apple uses custom silicon for its various consumer electronic products, while Tesla started using a custom-designed chip several years ago in its self-driving feature.<h2 style="margin-left:0px;text-align:justify;">What semiconductor companies are involved in the custom chip market?</h2>Broadcom (NASDAQ: AVGO) is the biggest name in the custom AI chip business. There's much confidentiality in this space, but it's known that Broadcom's custom AI chip customers include Alphabet and Meta Platforms. Moreover, at an investor event in March, Broadcom disclosed that it had gained a third big custom AI chip customer, but it did not name the company.<h2 style="margin-left:0px;text-align:justify;">How big is the custom chip market?</h2>Research firm 650 Group's Alan Weckel estimated the data center custom chip market will be worth about $10 billion this year, and surge to $25 billion in 2025, according to the Reuter's exclusive. That article also cited a Needham analyst who covers the semiconductor space as pegging the broader custom chip market at approximately $30 billion in 2023.<h2 style="margin-left:0px;text-align:justify;">How large is the custom chip market relative to Nvidia's size?</h2>On May 22, Nvidia is due to report its results for the fiscal first quarter, which ended in late April. Management has guided for quarterly revenue of $24 million. If we use this number as an estimate and multiply it by four, Nvidia's annual revenue run rate comes out to about $96 million.If we assume the data center AI chip market will be worth about $25 million by 2025 and the broader custom chip market was worth $30 million last year, as estimated by 650 Group, it's clear that the custom chip market is substantial even for a company as massive as Nvidia.<h2 style="margin-left:0px;text-align:justify;">It makes good sense for Nvidia to leverage its expertise</h2>It seems extremely likely that Nvidia will enter the custom chip market for AI and other applications. The company has expertise across GPUs, central processing units (CPUs), data processing units (DPUs), and high-performance networking technologies. It makes good sense for it to leverage its extensive intellectual property (IP) to capture some of the already large and fast-growing custom chip market.

Nvidia (NASDAQ: NVDA) stock is on fire. Shares of the artificial intelligence (AI) chip leader have gained 81.5% so far in 2024, and are up 531% over the last three years through May 10. The S&P 500 index has returned 10% and 31.9%, respectively, over these periods.

Nvidia Seems Poised to Enter the Multibillion-Dollar Custom Artificial Intelligence (AI) Chip Market

<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/cb2f335fafc080067ceba7be8b5dc040_d01eb57078.webp" alt="cb2f335fafc080067ceba7be8b5dc040.webp"></figure>TOKYO (AP) — Stocks in Asia traded higher Friday after a rally on Wall Street that pulled the S&amp;P 500 back within 1% of its record.Benchmarks rose in Tokyo, Seoul, Sydney and China, where investors were focused on the release of April inflation figures.In Japan, the Finance Ministry reported a record current account surplus for the fiscal year through March, as strong auto exports whittled down its trade deficit and the nation racked up solid returns on overseas investments. However, weak consumer spending undermined that positive data.Japan's benchmark Nikkei 225 rose 0.4% to 38,229.11, while Australia's S&amp;P/ASX 200 rose 0.5% to 7,761.90. South Korea's Kospi added 0.8% to 2,733.06.Hong Kong's Hang Seng jumped 2.1% to 18,918.54, while the Shanghai Composite edged 0.2% higher, to 3,160.61.Price data expected Saturday are being watched to see if the economy might be regaining momentum.“Despite efforts, China has grappled with consumer deflation for about a year, presenting a formidable challenge that Beijing has yet to overcome,” said Stephen Innes, managing partner at SPI Asset Management.On Thursday, the S&amp;P 500 rose 0.5% to 5,214.08. The Dow Jones Industrial Average gained 0.8% to 39,387.76, and the Nasdaq composite added 0.3%, to 16,346.26.A report showing a pickup in layoffs helped to support the market. The number of workers applying for unemployment benefits rose by more last week than economists expected, though it remains relatively low compared with history.That could be a sign the economy can pull off a hoped-for balancing act of staying solid enough to avoid a bad recession, but not so strong that it puts upward pressure on inflation.Equinix jumped 11.5% after reporting stronger profit for the latest quarter than analysts expected. The company, which runs data centers around the world, also said an independent investigation led by its board found no accounting inconsistencies or errors that would require financial restatements. Earlier, an investment firm had accused it of “major accounting manipulation.”Yeti Holdings rose 12.8% after reporting better profit for the latest quarter than expected thanks to stronger sales for its drinkware and coolers and equipment.Cheesecake Factory gained 6.2% after topping expectations for profit. The results were encouraging following some recent warnings by big food and drink companies about how much pressure their customers, particularly lower-income ones, are feeling.Airbnb sank 6.9% despite topping expectations for profit and revenue. It gave a forecasted range for revenue in the current quarter whose midpoint fell short of what analysts expected. It said an earlier Easter pulled more of its business this year into the first quarter from the second quarter.In the bond market, the yield on the 10-year Treasury eased to 4.45% from 4.50% late Wednesday. The two-year yield, which more closely tracks expectations for the Fed, slipped to 4.81% from 4.84% late Wednesday.A smooth auction of 30-year Treasury bonds helped to keep yields stable.Treasury yields have largely been easing since Federal Reserve Chair Jerome Powell said last week that the central bank remains closer to cutting its main interest rate than hiking it, despite a string of stubbornly high readings on inflation this year. A cooler-than-expected jobs report on Friday, meanwhile, suggested the U.S. economy could manage to avoid being either too hot or too cold.In energy trading, benchmark U.S. crude rose 60 cents to $79.86 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, added 54 cents to $84.42 a barrel.In currency trading, the U.S. dollar edged up to 155.53 Japanese yen from 155.50 yen.The weak yen has been both a blessing and a worry for Japan, as it helps boost export earnings but chips away at purchasing power. Expectations are growing for the Bank of Japan to start raising interest rates, although how much exactly and when remain unclear. The U.S. dollar was trading at 130 yen levels a year ago.The euro fell to $1.0776 from $1.0782.

In Japan, the Finance Ministry reported a record current account surplus for the fiscal year through March, as strong auto exports whittled down its trade deficit and the nation racked up solid returns on overseas investments. However, weak consumer spending undermined that positive data

Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record

Warning

In recent years, complaints about the Caphouse trading platform have emerged, raising questions about the transparency and safety of this investment environment. In this context, InfoFinance has made every effort to address investor grievances, contributing to the construction of a fairer and safer financial market.<h1 style="text-align:justify;">Investment stories with Caphouse Trading Platform</h1>Instances of investors being defrauded on trading platforms are becoming increasingly common. One alarming example is the case involving the Caphouse trading platform. Mr. Nguyen Van A, an investor in Vietnam, shared his bitter experience when investing in this platform.Mr. A began depositing money into the Caphouse platform with assistance from advisor Khánh Ngọc. In two deposit transactions, the total amount invested by him was 74,750,000 VND. Subsequently, expert Mỹ Vân continued to assist him from November 6, 2023. Everything seemed smooth until November 14, 2023, when Mr. A had a profit of approximately 31,000 VND and decided to withdraw 20,000 VND.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Thiet_ke_chua_co_ten_3_8a5ae98758.png" alt="Thiết kế chưa có tên (3).png"></figure>However, upon trying to withdraw, he received no response. Mỹ Vân requested that he deposit an additional 333,660,000 VND to pay the Bot fee - information that Mr. A had not been informed about from the beginning. Despite attempting negotiations and receiving a promise of a 5% reduction in the Bot fee, Mr. A still had to deposit a large amount. After depositing, he was again asked to trade more or deposit an additional 30% to withdraw money.Significantly, on November 15, 2023, when contacting customer support, he received a vague explanation and could not contact the experts who had previously assisted him. The group he had joined was also unexpectedly disbanded. Emails and calls to the platform's hotline went unanswered, with promises of processing within 24 to 48 hours, but to date, there has been no response from the Caphouse platform.<h1 style="text-align:justify;">InfoFinance handles receiving information and resolving complaints from investors</h1>In an effort to protect the rights of investors, InfoFinance has received and processed a series of complaints related to the Caphouse trading platform. Detailed information from investors has prompted us to take necessary measures to address the issue, safeguarding traders from fraudulent behavior and legal violations.<img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Thiet_ke_chua_co_ten_5b7cf60463.png" alt="Thiết kế chưa có tên.png"><figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/Thiet_ke_chua_co_ten_1_8f3e96e6fa.png" alt="Thiết kế chưa có tên (1).png"></figure>By accessing and verifying information, InfoFinance has provided appropriate solutions to deal with the situation. Our intervention not only helps to effectively resolve complaints but also creates a safer and more transparent investment environment for the investor community.The success of InfoFinance is evidenced by receiving a thank-you email from an investor, affirming our ability to address complaints and the satisfaction of customers.<h1 style="text-align:justify;">Safe investment with InfoFinance</h1>If you have any complaints about trading platforms, please follow these steps to report to InfoFinance for timely support:Step 1: Visit the official website of InfoFinance<a href="https://infofinance.com/">&nbsp;https://infofinance.com/</a>Step 2: Click on the "Report Broker/Complain Platform" section on the homepage.Step 3: Click on "Send Report" to start reporting the issues you are facing.Thank you for following the news with InfoFinance. Don't forget to follow our fan page<a href="https://facebook.com/infofinance.official">&nbsp;https://facebook.com/infofinance.official</a> for the latest updates. If you need assistance during trading or working with the platform, please contact InfoFinance through the following channels:Support: CS@infofx.vnHotline 0904 096 829 / 093 1085 659

In recent years, complaints about the Caphouse trading platform have emerged, raising questions about the transparency and safety of this investment environment. In this context, InfoFinance has made every effort to address investor grievances, contributing to the construction of a fairer and safer financial market.

INFOFINANCE SUCCESSFULLY RESOLVES INVESTOR COMPLAINTS AGAINST CAPHOUSE TRADING PLATFORM

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Tokyo stocks ended mixed Friday in a tug-of-war between bargain-hunting in bank and other oversold stocks, and selling on weakened sentiment following pullbacks on Wall Street overnight.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/R_d116c502d7.jfif" alt="R.jfif"></figure>The 225-issue Nikkei Stock Average ended down 132.88 points, or 0.34 percent, from Thursday at 38,787.38. The broader Topix index finished 8.08 points, or 0.30 percent, higher at 2,745.62.On the top-tier Prime Market, gainers were led by bank, electric power and gas, and transportation equipment shares. The main decliners were precision instrument, miscellaneous product, and chemical issues.The U.S. dollar rose to the upper 155 yen range in Tokyo on prospects of a wider interest rate differential between Japan and the United States after long-term U.S. Treasury yields rose overnight.The yen was additionally sold after the Bank of Japan said Friday it would not change its regular operation purchase amount of Japanese government bonds after unexpectedly reducing the amount earlier this week.Stocks started the day weak, taking their cues from falls on Wall Street overnight. All three major U.S. indexes closed lower on concerns over an overheated market after the Dow Jones topped the 40,000 line for the first time, analysts said.The market, however, found support as investors bought back oversold stocks and sought companies that had recently reported positive earnings results or favorable shareholder returns.Among such issues, banking shares drew buying after Japan's major financial groups released upbeat earnings and projections on Wednesday."There is a significant sense that the market is undervalued at its current levels. The performance of banks, in particular, appears to be relatively strong amid the overall uncertainty about earnings this season," said Makoto Sengoku, senior equity market analyst at the Tokai Tokyo Intelligence Laboratory Co.

Tokyo stocks ended mixed Friday in a tug-of-war between bargain-hunting in bank and other oversold stocks, and selling on weakened sentiment following pullbacks on Wall Street overnight.

Tokyo stocks end mixed on bargain-hunting, Wall St. pullbacks

Walmart (WMT) wowed Wall Street yet again, causing the stock to jump as much as 7% in early trading Thursday.For its fiscal 2025 Q1, America's biggest retailer posted revenue of $161.51 billion, higher than the $159.58 billion expected, while adjusted earnings per share also came in higher at $0.60, compared with estimates of $0.53.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/BB_1mr7_LH_55024b3c92.jpg" alt="BB1mr7LH.jpg"></figure>"Customers are continuing to come to Walmart for not only just value but also convenience," Walmart CFO John David Rainey told Yahoo Finance. "We see that wallets are still stretched, they're [customers] still looking for value."In a call with investors, CEO Doug McMillon said: "The momentum we see across the business is driven by growth in units sold and transaction counts as well as market share gains, including in general merchandise. These are not inflation-driven results."&nbsp;Total US same-store sales increased 3.9% year over year, led by growth from Sam's Club, up 4.4%, as Americans sought out deals on grocery items. The wholesale retailer reached a record high level for member counts and plus members, resulting in membership income growth of more than 13%.Its namesake stores saw same-store sales grow 3.8%, boosted by customers going more frequently, though ticket size was flat. The company alluded that it was gaining market share among upper-income households.Global e-commerce sales leaped 21%, boosted by store pickup and delivery as well as its online marketplace.These results come as the company plans to cut hundreds of jobs and asked employees to relocate to its headquarters in Bentonville, Ark., the WSJ reported on Tuesday.Walmart is the largest US employer, with 1.6 million US workers.During the quarter, the company also conducted a stock split for the 12th time in 50 years. Its shares are up 13.9% this year, outperforming the S&amp;P 500's (^GSPC) 10% gain.Ahead of the report, UBS analyst Michael Lasser wrote that "the stock has room to run" in a note to clients. He added that Q1 should demonstrate "further evidence that the stock fits well with what the market is looking for right now, a consistent business that is more insulated from ongoing macro pressures than the rest of the pack.""Walmart is in a double tailwind position to gain both low- and high-end consumers over the coming years," Deutsche Bank analyst Krisztina Katai told Yahoo Finance over the phone prior to the report.HSBC analyst Daniela Bretthauer called the stock a top pick ahead of the report."The future of grocery shopping is becoming increasingly omnichannel, and Walmart is America's largest grocer," Bretthauer told Yahoo Finance. "You have a big player online, which is Amazon, but in groceries ... Walmart has a big advantage."Merchandise sales dropped in the low single digits, consistent with the last three quarters. But US grocery sales increased in the mid-single digits, driven by selling more fresh foods and private brand items, Stifel managing director Mark Astrachan wrote in a note to clients following results.The company benefits from its pricing power and economy scale, as well as tech investments and its $9 billion store makeovers.&nbsp;Recently, the company introduced a new private label brand named bettergoods, which offers higher quality, trendier items priced from under $2 to under $15.Its lucrative ad business is also boosting its top line, boasting a 24% increase in global sales, and a 26% jump in US sales.Its subscription business, Walmart+, also grew by double digits, as CEO McMillon said members engaged more frequently and spent more than other customers.Earnings breakdown Here's what Walmart reported in its fiscal year 2025 first quarter, compared to Wall Street estimates compiled by Bloomberg:Revenue: $161.51 billion versus 159.58 billionAdjusted earnings per share: $0.60 versus $0.53Overall same-store US sales growth: 3.9% versus 3.42%Walmart US same-store sales growth: 3.8% versus 3.45%Traffic: 3.8% versus 3.17%Ticket growth: Flat versus 1.32%Sam's Club US same-store sales growth: 4.4% versus 3.3%Walmart US e-commerce growth: 22% versus 13.33%For the full fiscal year 2025, the company expects net sales to grow on the higher end of 3% to 4% and for operating income to grow on the higher end of 4% to 6%."We will revisit our full-year guidance as we exit [the] second quarter. This is more aligned with our historic cadence of updates, and consistent with the philosophy we have as a management team to recognize early momentum, but to also maintain prudence early in the year given the macro uncertainty and so much of the year is still ahead of us," Walmart CFO John David Rainey said on a call with investors following fiscal year 2025 Q1 results.

Walmart (WMT) wowed Wall Street yet again, causing the stock to jump as much as 7% in early trading Thursday.  For its fiscal 2025 Q1, America's biggest retailer posted revenue of $161.51 billion, higher than the $159.58 billion expected, while adjusted earnings per share also came in higher at $0.60, compared with estimates of $0.53.

Walmart stock pops after earnings beat, retailer surpasses $500 billion in market cap

Gallen Capital, a name frequently mentioned in the investment community, but is this trading platform reliable? A series of warning signs have emerged, casting doubts on the transparency and trustworthiness of Gallen Capital. Info Finance has gathered evidence pointing towards the lack of transparency from this platform.<h2>Accusations Diminish Trust in Gallen Capital</h2>A significant number of investors have reported not receiving the promised profits from Gallen Capital. Many cases also highlight difficulties in withdrawing funds from their accounts, with some unable to do so altogether. These occurrences raise concerns about the transparency and reliability of this trading platform.<figure class="image"><img src="https://infofinance-prod.s3.ap-southeast-1.amazonaws.com/pasted_image_0_11_8012b6efe3.png" alt="pasted image 0 (11).png"><figcaption>Link: <a href="https://www.facebook.com/groups/trade4youthanhtam/posts/896372225532821">https://www.facebook.com/groups/trade4youthanhtam/posts/896372225532821</a></figcaption></figure>Information about Gallen Capital on financial websites is also scarce and unclear. The lack of details about the management team, operating licences, and other specifics only adds to the suspicion.Given these indicators, the investment community should exercise caution when dealing with Gallen Capital. It's recommended to take preventive measures such as thorough research before investing, avoiding investing large sums without guarantees, and staying updated with news and reviews from reputable sources.It's important to note that protecting one's assets is always a top priority in the investment environment, and being cautious can help avoid unwanted risks. Gallen Capital may just be one of many examples of trading platforms that investors should carefully consider.<h2>Safe Investing with Info Finance</h2>Info Finance is committed to accompanying and listening to investors' experiences on their journey. With the aim of creating a "clean" investment community, Info Finance eagerly welcomes contributions from everyone to provide timely and accurate warnings to the community.If you have any complaints about a trading platform, follow these steps to report it to Info Finance for timely assistance: Step 1: Visit the official Info Finance website at <a href="https://infofinance.com/">https://infofinance.com/</a> Step 2: Click on the "Report Broker" or "Report Exchange" section right on the homepage. Step 3: Click on "Send Report" to start reporting the issues you are facing.Thank you for following news with Info Finance. Don't forget to follow the fan page <a href="https://facebook.com/infofinance.official">https://facebook.com/infofinance.official</a> to stay updated with the latest news. If you need support during trading or working with a platform, please contact Info Finance through the following channels: Support: CS@infofx.vn Hotline: 0904 096 829 / 0931 085 659 &nbsp;

Gallen Capital, a name frequently mentioned in the investment community, but is this trading platform reliable? A series of warning signs have emerged, casting doubts on the transparency and trustworthiness of Gallen Capital. Info Finance has gathered evidence pointing towards the lack of transparency from this platform.

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Stock market today: Asian shares trade higher after Wall St rally takes S&P 500 near record

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