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The Lokpal, India’s anti-corruption ombudsman, has sought an explanation from SEBI Chairperson Madhabi Puri Buch regarding allegations of impropriety and conflict of interest. The complaints were filed by a Lok Sabha member and two others, citing a report by U.S.-based short-seller Hindenburg Research. The SEBI chief has four weeks to respond to these allegations, providing explanations for each of the complaints.

Hindenburg Research, in its report, alleged that Buch and her husband held stakes in offshore funds implicated in a reported money-laundering scheme tied to the Adani Group. These claims were denied by Buch, who labelled them as character assassination attempts aimed at undermining the SEBI's credibility. The Lokpal had previously ruled on September 20 that one of the complaints did not justify a probe. However, with two additional complaints filed by October, the Lokpal requested Buch to clarify her position on each issue.

Trinamool Congress MP Mahua Moitra was among those filing complaints, urging Lokpal to forward the case to the Enforcement Directorate or the CBI for further investigation. The Lokpal, while asking Buch for her response, emphasized that this procedural directive does not indicate any decision on the allegations. The matter will be heard on December 19, following Buch’s affidavit on these conflict-of-interest claims.

The Lokpal, India’s anti-corruption ombudsman, has sought an explanation from SEBI Chairperson Madhabi Puri Buch regarding allegations of impropriety and conflict of interest.

The Lokpal, India’s anti-corruption ombudsman, has sought an explanation from SEBI Chairperson Madhabi Puri Buch regarding allegations of impropriety and conflict of interest. The complaints were filed by a Lok Sabha member and two others, citing a report by U.S.-based short-seller Hindenburg Research. The SEBI chief has four weeks to respond to these allegations, providing explanations for each of the complaints. Hindenburg Research, in its report, alleged that Buch and her husband held stakes in offshore funds implicated in a reported money-laundering scheme tied to the Adani Group. These claims were denied by Buch, who labelled them as character assassination attempts aimed at undermining the SEBI's credibility. The Lokpal had previously ruled on September 20 that one of the complaints did not justify a probe. However, with two additional complaints filed by October, the Lokpal requested Buch to clarify her position on each issue. Trinamool Congress MP Mahua Moitra was among those filing complaints, urging Lokpal to forward the case to the Enforcement Directorate or the CBI for further investigation. The Lokpal, while asking Buch for her response, emphasized that this procedural directive does not indicate any decision on the allegations. The matter will be heard on December 19, following Buch’s affidavit on these conflict-of-interest claims.

India's watchdog seeks SEBI Chief's clarification on multiple allegations

Donald Trump's Return To The White House Will Give Him More Power To Leverage His Array Of Assets -... From His Social Media Network To Real Estate And Crypto Ventures.// Does That Mean Trump Will Be Able To Turn Around His Business History Of Failures?// Take A Look At The Next Report For More On This...//

Donald Trump Media Shares Surge Over 60%

China’s Property Sector Has Become A Major Point Of Concern. Economists Are Urging Beijing To Take Immediate Action To Avoid Potential Debt Shocks.

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Indian Rupee Hits New Lows This Week

Chipmaker Taiwan Semiconductor Manufacturing Company Limited's (TSMC's) investment plan in the United States remains unchanged, the company said, responding to a question on the election of Republican Donald Trump as the next US president according to a detailed report by Reuters.

"Our investment plan in the US remains unchanged," the company said late on Thursday in an emailed statement, without elaborating, the Reuters report explained further.

Basic facts about TSMC<o:p></o:p>

Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a Taiwanese multinational corporation specializing in semiconductor contract manufacturing and design. It is the world’s most valuable semiconductor company, the largest dedicated independent semiconductor foundry, and the largest company in Taiwan.

TSMC's headquarters and main operations are based in the Hsinchu Science Park in Hsinchu, Taiwan. While the Taiwanese government is the largest individual shareholder, the majority of the company is owned by foreign investors.

Further, in 2023, TSMC was ranked 44th on the Forbes Global 2000 list. In 2022, Taiwan's integrated circuit exports totalled $184 billion, accounting for nearly 25 per cent of the country’s GDP, with TSMC representing about 30 per cent of the Taiwan Stock Exchange’s main index.

How much is TSMC investing in the US?<o:p></o:p>

TSMC, the world's largest contract chipmaker and a major supplier to companies including Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA), is investing $65 billion in new factories in the US state of Arizona. Trump, while on the campaign trail, accused Taiwan of stealing American semiconductor business, detailed the Reuters report further.

In April TSMC's US unit was awarded a $6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona, in a preliminary agreement with the Commerce Department.

Taiwan Semiconductor Manufacturing Co, GlobalFoundries (NASDAQ:GFS) and at least one other chipmaker are poised to receive their final Chips and Science Act awards from the Biden administration, two people briefed on the matter said this week.

TSMC's shares have so far batted off concern about Trump's election, and have performed strongly so far this year given soaring demand for artificial intelligence.

On Thursday, the company's American Depositary Receipts closed up 4.1 per cent, after Nvidia's shares rallied to a record high, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion. Market participants and investors will closely follow these developments, as they will help investors make informed investment decisions.

Chipmaker Taiwan Semiconductor Manufacturing Company Limited's (TSMC's) investment plan in the United States remains unchanged, the company said, responding to a question on the election of Republican Donald Trump as the next US president according to a detailed report by Reuters.

Chipmaker Taiwan Semiconductor Manufacturing Company Limited's (TSMC's) investment plan in the United States remains unchanged, the company said, responding to a question on the election of Republican Donald Trump as the next US president according to a detailed report by Reuters. "Our investment plan in the US remains unchanged," the company said late on Thursday in an emailed statement, without elaborating, the Reuters report explained further. Basic facts about TSMC Taiwan Semiconductor Manufacturing Company Limited (TSMC) is a Taiwanese multinational corporation specializing in semiconductor contract manufacturing and design. It is the world’s most valuable semiconductor company, the largest dedicated independent semiconductor foundry, and the largest company in Taiwan. TSMC's headquarters and main operations are based in the Hsinchu Science Park in Hsinchu, Taiwan. While the Taiwanese government is the largest individual shareholder, the majority of the company is owned by foreign investors. Further, in 2023, TSMC was ranked 44th on the Forbes Global 2000 list. In 2022, Taiwan's integrated circuit exports totalled $184 billion, accounting for nearly 25 per cent of the country’s GDP, with TSMC representing about 30 per cent of the Taiwan Stock Exchange’s main index. How much is TSMC investing in the US? TSMC, the world's largest contract chipmaker and a major supplier to companies including Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA), is investing $65 billion in new factories in the US state of Arizona. Trump, while on the campaign trail, accused Taiwan of stealing American semiconductor business, detailed the Reuters report further. In April TSMC's US unit was awarded a $6.6 billion subsidy for advanced semiconductor production in Phoenix, Arizona, in a preliminary agreement with the Commerce Department. Taiwan Semiconductor Manufacturing Co, GlobalFoundries (NASDAQ:GFS) and at least one other chipmaker are poised to receive their final Chips and Science Act awards from the Biden administration, two people briefed on the matter said this week. TSMC's shares have so far batted off concern about Trump's election, and have performed strongly so far this year given soaring demand for artificial intelligence. On Thursday, the company's American Depositary Receipts closed up 4.1 per cent, after Nvidia's shares rallied to a record high, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion. Market participants and investors will closely follow these developments, as they will help investors make informed investment decisions.

Taiwan's TSMC says US investment plan is unchanged after election verdict

KALP Decentra Foundation, a non-profit organisation dedicated to advancing global digital infrastructure and literacy, today announced the appointment of Abhilash Puljal as Director of Global Affairs.

KALP Decentra Foundation, a non-profit organisation dedicated to advancing global digital infrastructure and literacy, today announced the appointment of Abhilash Puljal as Director of Global Affairs. With over two decades of experience in international strategy and economic development, Puljal brings crucial expertise to strengthen Kalp's mission of democratising digital technology access worldwide. "Abhilash's engagement marks a pivotal moment for Kalp Decentra Foundation. His extensive experience in fostering international collaborations and implementing transformative projects across developing nations perfectly aligns with our vision of creating an inclusive digital future," said Tapan Sangal, Director, Kalp Decentra Foundation. Puljal's impressive track record includes leading Abhilash Puljal & Co, a boutique advisory firm, and serving as the Founder and Director of the LSE India Foundation. His expertise in building sustainable partnerships between governments, international organisations, and technology sectors will be instrumental in advancing Kalp's global digital literacy initiatives. The Kalp Decentra Foundation will leverage Puljal's extensive experience with organisations including the African Development Bank, World Bank, European Union, and USAID to accelerate digital transformation across low and middle-income nations. His proven ability to facilitate cross-border collaborations will be crucial in implementing Kalp's vision of a digitally empowered world. "The future of global development lies in democratising digital access and literacy," said Abhilash Puljal. "Kalp Decentra Foundation's innovative approach to creating inclusive digital infrastructure aligns perfectly with the needs of developing nations. I am excited to contribute to this transformation and help bridge the digital divide across communities worldwide." Also read: Revolutionary: MAI Labs introduces KALP Studio, a complete infrastructure for blockchain development In his role as Director of Global Affairs at Kalp Decentra Foundation, Puljal will spearhead Kalp's global initiatives by fostering strategic partnerships with governments and international organisations. His mandate encompasses building sustainable digital infrastructure across emerging economies while promoting digital inclusion in underserved regions. Through his extensive network, Puljal will establish collaborative frameworks that facilitate knowledge transfer and accelerate technological adoption worldwide. His strategic vision and implementation expertise will be instrumental in cementing Kalp's position as a global leader in digital transformation, particularly in regions where technology access can create the most significant social impact. About Abhilash Puljal A distinguished strategy advisor with over 20 years of experience, Puljal has been instrumental in implementing transformative projects worldwide. His notable work includes catalyzing the India-Zanzibar Skill Development Partnership, Ask Indus Global initiatives and EU-India collaborations. His expertise in fostering international partnerships within multiple countries in the Global South has been crucial along with the successful formulation of numerous projects with the African Development Bank, European Union, UN World Food Programme, USAID, and the World Bank, demonstrating his ability to bridge global stakeholders for impactful development initiatives. About Kalp Decentra foundation The Kalp Decentra Foundation is a not-for-profit organisation committed to driving worldwide digital transformation through innovative technology solutions and infrastructure. The Foundation focuses on empowering communities through digital literacy, establishing secure technological frameworks, and fostering global collaborations to create an inclusive digital future for all.

KALP Decentra Foundation welcomes global strategy veteran Abhilash Puljal to accelerate digital transformation

As Republican presidential nominee Donald Trump clinched a historic victory in the US presidential elections, the global financial markets were rattled and left many investors in a tizzy.

Before weighing the implications of this economic shake-up, let's first understand the impact of Trump's victory on market indexes, currencies and commodities.&nbsp;

<h2>How global markets reacted to Trump's victory?</h2>

As soon as the results were out, the US shares jumped to a record high on Wall Street, the Dow Jones industrial average&nbsp;rallied nearly 4 per cent, the S&amp;P opened 2 per cent higher and amid this market euphoria, the dollar recorded its biggest jump in eight years.&nbsp;

Some of the stocks saw a surge in price, especially Elon Musk's owned Tesla and Trump Media. Musk remained a staunch supporter of Trump throughout the election campaign and has a high chance of holding a position in the government.&nbsp;

Even though Tesla shares rallied on the market, stocks of other electric automakers went into a slump because of Trump's decision to consider putting an end to a $7,500 tax credit for EV purchases&nbsp;on coming&nbsp;to power.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/money-wise-has-the-global-stock-markets-crashed-heres-what-you-must-do-to-survive-it-748655">Money-Wise: Have the global stock markets crashed? Here's what you must do</a>

The small-cap stocks also performed well, as the Russell 2000 index jumped to around 5 per cent, which was its largest rise in one day in two years. Bank stocks also joined the celebrations as they soared in the market.&nbsp;

In the world of cryptocurrency, bitcoin recorded a historic all-time high because of Trump's position to prioritise the volatile cryptocurrency.

Predicting the global market's future in Trump 2.0, Samir Bahl, CEO - Investment Banking, Anand Rathi Advisors, said to WION, "Investors can be optimistic that a pro-business administration can lead to favourable market conditions and potentially promising returns in the medium term. This administration is also likely to seek decisive settlements to ongoing global conflicts currently impacting global supply chains and market sentiments."

The global markets also remained impacted by the import duties, which included a 60 per cent tariff on imports from China and a 10 per cent universal tariff on imports from all foreign countries.

The victory of Trump initially triggered a sell-off because of which oil fell by more than $2, however, it turned positive later in the day. According to predictions of Citi, Trump's second term is likely to exert pressure on oil in 2025 and Brent crude is likely to remain at an average of $60 per barrel, because of increased oil supply and potential trade tariffs.&nbsp;

However, speaking to WION, Siddharth Maurya, Founder &amp; Managing Director of Vibhavangal Anukulakara Private Limited, said that election results' "immediate effect would be felt in the case of fossil fuels, infrastructure and domestic manufacturing. Even though there are very high expectations from the presidential policies, it has been established that core drivers of returns would be the Fed policies and the global economy."

<h2>The see-saw between US elections and the Indian stock market</h2>

The euphoria of Trump's victory was also reflected in the Indian stock market, which rallied through the day and closed in green. Nifty rose to 24,484.05 and the benchmark BSE Sensex closed at 80,378.13, which marked a 901.50 point, or 1.13 per cent jump from the previous day.&nbsp;

However, the excitement fizzled out in the stock market the next day&nbsp;as investors tried to weigh both the positive and negative implications of the Republicans being at the helm of US politics on the Indian market.

Speaking about the implications of Trump's victory on the Indian market, Maurya said, "The positives could be the strengthening of bilateral relations, Indian IT companies benefitting if US corporates increase spending or US companies increasing the pace at which they move their supply chains from China towards India. There could be some uneasy situations as well because of limitations on immigration policies that impact the provision of IT services, trade restrictions, and world market instability on account of US-China relations."

Watch:&nbsp;US Stocks Rally as Amazon Soars

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/us-stocks-rally-as-amazon-soars-772889/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The Indian rupee also witnessed an all-time low of 84.3775&nbsp;amid outflows from local equities and expectations that the change in regime would boost the dollar.

So what lies ahead for the Indian market? "The Indian equities market can expect to continue its strong performance after the long overdue correction. While there could be some pressure on India-US trade negotiations, under the Trump administration, U.S.-China tensions could further accelerate the China + 1 policy driving both investors and companies to shift their focus toward India as an attractive alternative market," Bahl explained.

"Nonetheless, investors must remain cognizant of policy impacts on international trade, especially with China, and expected market fluctuations arising from geopolitical choices," Maurya warned.

However, the policies of Trump are likely to catalyse a robust cycle of investment and development in the country's tech and real estate landscapes.&nbsp;

Emphasising how Trump 2.0 will impact real estate, Samir Bhandari, Co-founder &amp; CFO, hBits - a fractional ownership platform of commercial real estate, said to WION, "As U.S. firms ramp up spending in response to a favourable economic environment, Indian IT companies are likely to benefit from increased demand for services, driving expansion in Global Capability Centres. This growth will not only enhance job creation but also stimulate the commercial real estate sector in tech hubs like Bangalore, Hyderabad, and Chennai."&nbsp;

As Republican presidential nominee Donald Trump clinched a historic victory in the US presidential elections, the global financial markets were rattled and left many investors in a tizzy.

As Republican presidential nominee Donald Trump clinched a historic victory in the US presidential elections, the global financial markets were rattled and left many investors in a tizzy. Before weighing the implications of this economic shake-up, let's first understand the impact of Trump's victory on market indexes, currencies and commodities. How global markets reacted to Trump's victory? As soon as the results were out, the US shares jumped to a record high on Wall Street, the Dow Jones industrial average rallied nearly 4 per cent, the S&P opened 2 per cent higher and amid this market euphoria, the dollar recorded its biggest jump in eight years. Some of the stocks saw a surge in price, especially Elon Musk's owned Tesla and Trump Media. Musk remained a staunch supporter of Trump throughout the election campaign and has a high chance of holding a position in the government. Even though Tesla shares rallied on the market, stocks of other electric automakers went into a slump because of Trump's decision to consider putting an end to a $7,500 tax credit for EV purchases on coming to power. Also Read: Money-Wise: Have the global stock markets crashed? Here's what you must do The small-cap stocks also performed well, as the Russell 2000 index jumped to around 5 per cent, which was its largest rise in one day in two years. Bank stocks also joined the celebrations as they soared in the market. In the world of cryptocurrency, bitcoin recorded a historic all-time high because of Trump's position to prioritise the volatile cryptocurrency. Predicting the global market's future in Trump 2.0, Samir Bahl, CEO - Investment Banking, Anand Rathi Advisors, said to WION, "Investors can be optimistic that a pro-business administration can lead to favourable market conditions and potentially promising returns in the medium term. This administration is also likely to seek decisive settlements to ongoing global conflicts currently impacting global supply chains and market sentiments." The global markets also remained impacted by the import duties, which included a 60 per cent tariff on imports from China and a 10 per cent universal tariff on imports from all foreign countries. The victory of Trump initially triggered a sell-off because of which oil fell by more than $2, however, it turned positive later in the day. According to predictions of Citi, Trump's second term is likely to exert pressure on oil in 2025 and Brent crude is likely to remain at an average of $60 per barrel, because of increased oil supply and potential trade tariffs. However, speaking to WION, Siddharth Maurya, Founder & Managing Director of Vibhavangal Anukulakara Private Limited, said that election results' "immediate effect would be felt in the case of fossil fuels, infrastructure and domestic manufacturing. Even though there are very high expectations from the presidential policies, it has been established that core drivers of returns would be the Fed policies and the global economy." The see-saw between US elections and the Indian stock market The euphoria of Trump's victory was also reflected in the Indian stock market, which rallied through the day and closed in green. Nifty rose to 24,484.05 and the benchmark BSE Sensex closed at 80,378.13, which marked a 901.50 point, or 1.13 per cent jump from the previous day. However, the excitement fizzled out in the stock market the next day as investors tried to weigh both the positive and negative implications of the Republicans being at the helm of US politics on the Indian market. Speaking about the implications of Trump's victory on the Indian market, Maurya said, "The positives could be the strengthening of bilateral relations, Indian IT companies benefitting if US corporates increase spending or US companies increasing the pace at which they move their supply chains from China towards India. There could be some uneasy situations as well because of limitations on immigration policies that impact the provision of IT services, trade restrictions, and world market instability on account of US-China relations." Watch: US Stocks Rally as Amazon Soars The Indian rupee also witnessed an all-time low of 84.3775 amid outflows from local equities and expectations that the change in regime would boost the dollar. So what lies ahead for the Indian market? "The Indian equities market can expect to continue its strong performance after the long overdue correction. While there could be some pressure on India-US trade negotiations, under the Trump administration, U.S.-China tensions could further accelerate the China + 1 policy driving both investors and companies to shift their focus toward India as an attractive alternative market," Bahl explained. "Nonetheless, investors must remain cognizant of policy impacts on international trade, especially with China, and expected market fluctuations arising from geopolitical choices," Maurya warned. However, the policies of Trump are likely to catalyse a robust cycle of investment and development in the country's tech and real estate landscapes. Emphasising how Trump 2.0 will impact real estate, Samir Bhandari, Co-founder & CFO, hBits - a fractional ownership platform of commercial real estate, said to WION, "As U.S. firms ramp up spending in response to a favourable economic environment, Indian IT companies are likely to benefit from increased demand for services, driving expansion in Global Capability Centres. This growth will not only enhance job creation but also stimulate the commercial real estate sector in tech hubs like Bangalore, Hyderabad, and Chennai."

Money-Wise: Stock market rattles, Rupee dips as Trump 2.0 dawns. Here's what you should know as investor

Shares of Nvidia rallied to a record high on Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House, as detailed in a report by Reuters.

The dominant AI chipmaker's shares rose 2.2 per cent, lifted by broad investor optimism about tax cuts and lower regulations after the Republican candidate Donald Trump clinched election victory on Tuesday.

First company in history to surpass a stock market value of $3.6 trillion<o:p></o:p>

Nvidia's stock market value ended the day at $3.65 trillion, beating Apple's record closing market capitalization of $3.57 trillion reached on October 21, before the chipmaker on Tuesday overtook the iPhone maker as the world's most valuable company, according to London Stock Exchange Group (LSEG) data, the Reuters report detailed further.

Apple's stock rose 2.1 per cent on Thursday, leaving it with a market value of $3.44 trillion. The S&amp;P 500 technology index has surged over 4 per cent in the two sessions since Trump won the election on Tuesday. 

Nvidia has been the biggest winner in AI computing capacity building<o:p></o:p>

Nvidia has been the US stock market's biggest winner from a race between Microsoft, Alphabet and other heavyweights to build out their AI computing capacity and dominate the emerging technology.&nbsp;&nbsp; 

The Silicon Valley chip designer's stock has climbed 12 per cent in November, with its value tripling so far in 2024. Following this year's surge, Nvidia now exceeds the combined value of Eli Lilly, Walmart, JPMorgan, Visa, UnitedHealth Group and Netflix. 

Analysts on average see Nvidia increasing its quarterly revenue by over 80 per cent to $32.9 billion when it reports its results on November 20, according to London Stock Exchange Group data.

Tech trio’s market capitalization has been neck-and-neck<o:p></o:p>

In June, Nvidia briefly became the world's most valuable company before it was overtaken by Microsoft and Apple. The tech trio's market capitalizations have been neck-and-neck for several months. Microsoft's market value stood at nearly $3.16 trillion, with its stock up 1.25 per cent on November 7.

Shares of Nvidia rallied to a record high on Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House, as detailed in a report by Reuters.

Shares of Nvidia rallied to a record high on Thursday, making the chipmaker the first company in history to surpass a stock market value of $3.6 trillion as Wall Street extended a rally sparked by Donald Trump's return to the White House, as detailed in a report by Reuters. The dominant AI chipmaker's shares rose 2.2 per cent, lifted by broad investor optimism about tax cuts and lower regulations after the Republican candidate Donald Trump clinched election victory on Tuesday. First company in history to surpass a stock market value of $3.6 trillion Nvidia's stock market value ended the day at $3.65 trillion, beating Apple's record closing market capitalization of $3.57 trillion reached on October 21, before the chipmaker on Tuesday overtook the iPhone maker as the world's most valuable company, according to London Stock Exchange Group (LSEG) data, the Reuters report detailed further. Apple's stock rose 2.1 per cent on Thursday, leaving it with a market value of $3.44 trillion. The S&P 500 technology index has surged over 4 per cent in the two sessions since Trump won the election on Tuesday. Nvidia has been the biggest winner in AI computing capacity building Nvidia has been the US stock market's biggest winner from a race between Microsoft, Alphabet and other heavyweights to build out their AI computing capacity and dominate the emerging technology. The Silicon Valley chip designer's stock has climbed 12 per cent in November, with its value tripling so far in 2024. Following this year's surge, Nvidia now exceeds the combined value of Eli Lilly, Walmart, JPMorgan, Visa, UnitedHealth Group and Netflix. Analysts on average see Nvidia increasing its quarterly revenue by over 80 per cent to $32.9 billion when it reports its results on November 20, according to London Stock Exchange Group data. Tech trio’s market capitalization has been neck-and-neck In June, Nvidia briefly became the world's most valuable company before it was overtaken by Microsoft and Apple. The tech trio's market capitalizations have been neck-and-neck for several months. Microsoft's market value stood at nearly $3.16 trillion, with its stock up 1.25 per cent on November 7.

Nvidia surpasses $3.6 trillion market value after Trump election victory

Samsung Electronics was once the dominant player in a type of semiconductor known as memory, putting it in a great position to capitalise on the boom of artificial intelligence, as detailed in a report by CNBC.

But the South Korean electronics giant has now fallen behind its long-time rival SK Hynix in next-generation chips that have been key components for AI silicon leader Nvidia, the CNBC report explained further.

$126 billion has been wiped off Samsung’s market value<o:p></o:p>

This resulted in Samsung’s profit dropping, around $126 billion has been wiped off its market value, according to data from S&amp;P Capital IQ, and an executive issued a rare public apology about the company’s recent financial performance.

Memory is a critical type of chip used to store data, and it can be found in a plethora of devices from smartphones to laptops. For years, Samsung was the undeniable leader in this technology, ahead of South Korean rival SK Hynix and US competitor Micron.

But as artificial intelligence (AI) applications such as OpenAI’s ChatGPT rose in popularity, the underlying infrastructure required to train the huge models they rely on became a bigger focus. Nvidia has emerged as the top player in this space with its graphics processing units (GPUs) that have become the gold standard used by technology giants for AI training.

A crucial part of that semiconductor architecture is high-bandwidth memory or HBM. This next generation of memory involves stacking multiple dynamic random access memory (DRAM) chips, but it had a small market before the AI boom, that’s where Samsung got caught out and failed to invest, the CNBC report elaborated further.

“HBM has been a very niche product ... for a long time and Samsung has not focused its resources on its development,” Kazunori Ito, director of equity research at Morningstar, told CNBC by email. “Due to the difficulty of the technology involved in stacking DRAMs and the small size of the addressable market, it was believed that the high development costs were not justified.”

SK Hynix saw this opportunity. The company aggressively launched HBM chips which were approved for use in Nvidia architecture and, in the process, the South Korean firm established a close relationship with the US giant. Nvidia’s CEO even asked the company to speed up the supply of its next-generation chip, underscoring the importance of HBM to its products.

SK Hynix posted a record quarterly operating profit in the September quarter. “With strong R&amp;D (research and development) investments and established industry partnerships, SK Hynix maintains an edge in both HBM innovation and market penetration,” Brady Wang, associated director at Counterpoint Research, told CNBC by email.

Technology giant Samsung stated in a conversation with CNBC that, in the third quarter, total HBM sales grew more than 70 per cent quarter-on-quarter. The tech giant added that the current product known as HBM3E is in mass production and generating sales. 

The South Korean tech company noted that development for its next-generation HBM4 is “underway according to plan” and that the company is targeting starting “mass production” in the second half of 2025.

Can Samsung stage a comeback?

Analysts say Samsung is falling behind competitors, particularly SK Hynix, due to underinvestment in high-bandwidth memory (HBM) and a lack of first-mover advantage. Morningstar’s Ito stated that Samsung has yet to close the HBM development gap with SK Hynix.

Samsung’s short-term recovery hinges on Nvidia’s approval, as the company must pass Nvidia’s rigorous qualification process to become a supplier. Nvidia’s approval is crucial, given its dominance in the AI chip market. A Samsung spokesperson said the company has made significant progress with HBM3E and expects to expand sales in Q4, aided by its R&amp;D and semiconductor manufacturing strengths.

Samsung Electronics was once the dominant player in a type of semiconductor known as memory, putting it in a great position to capitalise on the boom of artificial intelligence, as detailed in a report by CNBC.

Samsung Electronics was once the dominant player in a type of semiconductor known as memory, putting it in a great position to capitalise on the boom of artificial intelligence, as detailed in a report by CNBC. But the South Korean electronics giant has now fallen behind its long-time rival SK Hynix in next-generation chips that have been key components for AI silicon leader Nvidia, the CNBC report explained further. $126 billion has been wiped off Samsung’s market value This resulted in Samsung’s profit dropping, around $126 billion has been wiped off its market value, according to data from S&P Capital IQ, and an executive issued a rare public apology about the company’s recent financial performance. Memory is a critical type of chip used to store data, and it can be found in a plethora of devices from smartphones to laptops. For years, Samsung was the undeniable leader in this technology, ahead of South Korean rival SK Hynix and US competitor Micron. But as artificial intelligence (AI) applications such as OpenAI’s ChatGPT rose in popularity, the underlying infrastructure required to train the huge models they rely on became a bigger focus. Nvidia has emerged as the top player in this space with its graphics processing units (GPUs) that have become the gold standard used by technology giants for AI training. A crucial part of that semiconductor architecture is high-bandwidth memory or HBM. This next generation of memory involves stacking multiple dynamic random access memory (DRAM) chips, but it had a small market before the AI boom, that’s where Samsung got caught out and failed to invest, the CNBC report elaborated further. “HBM has been a very niche product ... for a long time and Samsung has not focused its resources on its development,” Kazunori Ito, director of equity research at Morningstar, told CNBC by email. “Due to the difficulty of the technology involved in stacking DRAMs and the small size of the addressable market, it was believed that the high development costs were not justified.” SK Hynix saw this opportunity. The company aggressively launched HBM chips which were approved for use in Nvidia architecture and, in the process, the South Korean firm established a close relationship with the US giant. Nvidia’s CEO even asked the company to speed up the supply of its next-generation chip, underscoring the importance of HBM to its products. SK Hynix posted a record quarterly operating profit in the September quarter. “With strong R&D (research and development) investments and established industry partnerships, SK Hynix maintains an edge in both HBM innovation and market penetration,” Brady Wang, associated director at Counterpoint Research, told CNBC by email. Technology giant Samsung stated in a conversation with CNBC that, in the third quarter, total HBM sales grew more than 70 per cent quarter-on-quarter. The tech giant added that the current product known as HBM3E is in mass production and generating sales. The South Korean tech company noted that development for its next-generation HBM4 is “underway according to plan” and that the company is targeting starting “mass production” in the second half of 2025. Can Samsung stage a comeback? Analysts say Samsung is falling behind competitors, particularly SK Hynix, due to underinvestment in high-bandwidth memory (HBM) and a lack of first-mover advantage. Morningstar’s Ito stated that Samsung has yet to close the HBM development gap with SK Hynix. Samsung’s short-term recovery hinges on Nvidia’s approval, as the company must pass Nvidia’s rigorous qualification process to become a supplier. Nvidia’s approval is crucial, given its dominance in the AI chip market. A Samsung spokesperson said the company has made significant progress with HBM3E and expects to expand sales in Q4, aided by its R&D and semiconductor manufacturing strengths.

How Samsung lagged in the AI race, resulting in a $126 billion loss

The Federal Reserve on Thursday approved its second consecutive interest rate cut, reducing its benchmark rate by a quarter percentage point (25 basis points) to a target range of 4.50 per cent to 4.75 per cent, according to a detailed report by CNBC.

This move follows September’s larger half-point reduction and marks the Fed’s ongoing effort to fine-tune monetary policy in response to the evolving economic conditions. The decision, made by the Federal Open Market Committee (FOMC), was unanimous, a shift from the September meeting when there was a dissenting vote from Governor Michelle Bowman, the CNBC report explained further.

What is the impact of this rate cut?<o:p></o:p>

The rate cut primarily affects the overnight borrowing rate between banks but also has a ripple effect on consumer borrowing costs, including mortgages, credit cards, and auto loans. The move was widely anticipated, as Fed officials had signaled the possibility of further easing in recent statements. Markets responded positively, with the Nasdaq leading gains, rising 1.5 per cent, and both the Nasdaq and S&amp;P 500 closing at record highs.

Fed’s outlook on the economy<o:p></o:p>

In its post-meeting statement, the Fed showed subtle changes in its outlook on the economy. While the committee acknowledged that inflation is easing, it also tempered its optimism about the labour market.

The statement noted that "conditions have generally eased," with the unemployment rate rising slightly but remaining low. Despite this, the Fed reiterated that the economy continues to grow at a solid pace, and it emphasized that its primary objective remains balancing inflation control with supporting job growth.

Fed Chair Jerome Powell described the rate cut as part of a “recalibration” of policy. He explained that the Fed aims to steer the economy toward a more neutral stance, one where monetary policy neither stimulates nor restrains economic activity too much. Powell stressed that the rate cuts are intended to support continued progress on inflation while maintaining a strong labour market.

There is growing uncertainty over the extent of future rate cuts, as the US economy shows resilience. The third-quarter GDP growth rate came in at 2.8 per cent, slightly below expectations but still robust compared to the historical trend. Job growth has also slowed, with nonfarm payrolls increasing by just 12,000 in October, partly due to weather-related disruptions and ongoing labour strikes.

The Fed’s cautious approach comes amid a changing political climate, with President-elect Donald Trump’s victory in the recent election raising questions about the impact of his policies on inflation and economic growth. While Powell insisted that the election outcome would not influence the Fed’s immediate policy decisions, there is speculation that the Fed may adjust its approach depending on how Trump’s economic agenda affects inflation and overall economic conditions.

Looking ahead, market participants expect that the Fed will likely approve another quarter-point cut in December before pausing to assess the full effects of its actions. The CME Group’s FedWatch tool suggests that the Fed may continue its gradual easing process into 2025, with a target terminal rate around 2.9 per cent. However, despite the Fed’s rate cuts, market interest rates, including mortgage and Treasury yields, have remained relatively high.

Objective of the Federal Reserve

The Fed is aiming for a “soft landing” bringing inflation down to its 2 per cent target without triggering a recession. Recent inflation data shows the Fed’s preferred measure at 2.1 per cent, while the core inflation rate, excluding volatile food and energy prices, stands at 2.7 per cent. The central bank's path forward will depend on balancing these inflation trends with broader economic conditions.

The Federal Reserve on Thursday approved its second consecutive interest rate cut, reducing its benchmark rate by a quarter percentage point (25 basis points) to a target range of 4.

The Federal Reserve on Thursday approved its second consecutive interest rate cut, reducing its benchmark rate by a quarter percentage point (25 basis points) to a target range of 4.50 per cent to 4.75 per cent, according to a detailed report by CNBC. This move follows September’s larger half-point reduction and marks the Fed’s ongoing effort to fine-tune monetary policy in response to the evolving economic conditions. The decision, made by the Federal Open Market Committee (FOMC), was unanimous, a shift from the September meeting when there was a dissenting vote from Governor Michelle Bowman, the CNBC report explained further. What is the impact of this rate cut? The rate cut primarily affects the overnight borrowing rate between banks but also has a ripple effect on consumer borrowing costs, including mortgages, credit cards, and auto loans. The move was widely anticipated, as Fed officials had signaled the possibility of further easing in recent statements. Markets responded positively, with the Nasdaq leading gains, rising 1.5 per cent, and both the Nasdaq and S&P 500 closing at record highs. Fed’s outlook on the economy In its post-meeting statement, the Fed showed subtle changes in its outlook on the economy. While the committee acknowledged that inflation is easing, it also tempered its optimism about the labour market. The statement noted that "conditions have generally eased," with the unemployment rate rising slightly but remaining low. Despite this, the Fed reiterated that the economy continues to grow at a solid pace, and it emphasized that its primary objective remains balancing inflation control with supporting job growth. Fed Chair Jerome Powell described the rate cut as part of a “recalibration” of policy. He explained that the Fed aims to steer the economy toward a more neutral stance, one where monetary policy neither stimulates nor restrains economic activity too much. Powell stressed that the rate cuts are intended to support continued progress on inflation while maintaining a strong labour market. There is growing uncertainty over the extent of future rate cuts, as the US economy shows resilience. The third-quarter GDP growth rate came in at 2.8 per cent, slightly below expectations but still robust compared to the historical trend. Job growth has also slowed, with nonfarm payrolls increasing by just 12,000 in October, partly due to weather-related disruptions and ongoing labour strikes. The Fed’s cautious approach comes amid a changing political climate, with President-elect Donald Trump’s victory in the recent election raising questions about the impact of his policies on inflation and economic growth. While Powell insisted that the election outcome would not influence the Fed’s immediate policy decisions, there is speculation that the Fed may adjust its approach depending on how Trump’s economic agenda affects inflation and overall economic conditions. Looking ahead, market participants expect that the Fed will likely approve another quarter-point cut in December before pausing to assess the full effects of its actions. The CME Group’s FedWatch tool suggests that the Fed may continue its gradual easing process into 2025, with a target terminal rate around 2.9 per cent. However, despite the Fed’s rate cuts, market interest rates, including mortgage and Treasury yields, have remained relatively high. Objective of the Federal Reserve The Fed is aiming for a “soft landing” bringing inflation down to its 2 per cent target without triggering a recession. Recent inflation data shows the Fed’s preferred measure at 2.1 per cent, while the core inflation rate, excluding volatile food and energy prices, stands at 2.7 per cent. The central bank's path forward will depend on balancing these inflation trends with broader economic conditions.

Fed cuts interest rates by 0.25% amid economic shifts and inflation concerns

Slowing electric-vehicle adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam”, according to a detailed report by Bloomberg.

Automotive forecaster GlobalData on Wednesday cut its outlook for EV market share in the US for 2030 to 28 per cent from 33 per cent due to Trump’s election, the Bloomberg report explained further.

“The transition to electric vehicles in the US will be hindered under Trump’s administration,” Jeff Schuster, GlobalData’s vice president of automotive research, said in a note. Trump’s focus on lowering oil prices and weakening tailpipe emissions standards could reduce electric-vehicle market share by 15 per cent to 20 per cent, he said, the Bloomberg report explained further.

Billions of dollars have been invested in EV plants<o:p></o:p>

Automakers have poured billions of dollars into battery and EV plants in a push to field more electric models that will increasingly required under US rules governing vehicle efficiency and tailpipe emissions. Now, some $129 billion worth of EV investment in North America through 2027 is “at risk,” Mark Wakefield, co-head of the automotive practice at consultant AlixPartners, said in an interview.

The $7,500 tax credit consumers can receive for buying a North American-built EV could also be in jeopardy, the Bloomberg report explained further.

“What the EV market will look five years out is less, much less,” Wakefield said. “The amount of vehicles you want out of your factories and your industrialization for EVs is less and less for longer.”

Automakers will continue to slow spending on EVs and delay or cancel new battery-powered models, Wakefield said. They have been making those moves in advance of the election and likely would have reversed them had Vice President Kamala Harris prevailed in the presidential race, he said.

Carmakers will also look for ways to increase production of profitable gasoline-fueled vehicles while converting EV plants into facilities that can also build gas-electric hybrids, as Volkswagen AG’s new Scout lineup is doing at its $2 billion EV factory under construction in South Carolina.

“From a profitability perspective it’s a challenge because you’ve got a lot of industrial plans with assumed volumes for EVs that are less” now, Wakefield said. “So some of those plants might turn into hybrid plants doing both, rather than pure EV.”

Trump will have difficulties rolling back Biden’s Inflation reduction Act<o:p></o:p>

Trump will face difficulties rolling back President Joe Biden’s Inflation Reduction Act legislation that spurred a building boom of EV and battery factories, many in Republican-leaning states. Bigger changes are likely in store for fuel economy regulations, Wakefield said. Trump softened those rules during his first administration and has promised to end what he calls “EV mandates” on the first day of his second term, though changing such policies involves a lengthy process that can take months or years.

“It’s less about what happens this year,” Wakefield said. “That doesn’t hit you until 2027.” Market participants and investors will follow these developments carefully. This will help them in making better investment decisions going ahead, about the electric vehicle sector.

<o:p>&nbsp;</o:p>

Slowing electric-vehicle adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam”, according to a detailed report by Bloomberg.

Slowing electric-vehicle adoption is likely to accelerate even further as President-Elect Donald Trump delivers on his promise to gut plug-in friendly policies he called the “green new scam”, according to a detailed report by Bloomberg. Automotive forecaster GlobalData on Wednesday cut its outlook for EV market share in the US for 2030 to 28 per cent from 33 per cent due to Trump’s election, the Bloomberg report explained further. “The transition to electric vehicles in the US will be hindered under Trump’s administration,” Jeff Schuster, GlobalData’s vice president of automotive research, said in a note. Trump’s focus on lowering oil prices and weakening tailpipe emissions standards could reduce electric-vehicle market share by 15 per cent to 20 per cent, he said, the Bloomberg report explained further. Billions of dollars have been invested in EV plants Automakers have poured billions of dollars into battery and EV plants in a push to field more electric models that will increasingly required under US rules governing vehicle efficiency and tailpipe emissions. Now, some $129 billion worth of EV investment in North America through 2027 is “at risk,” Mark Wakefield, co-head of the automotive practice at consultant AlixPartners, said in an interview. The $7,500 tax credit consumers can receive for buying a North American-built EV could also be in jeopardy, the Bloomberg report explained further. “What the EV market will look five years out is less, much less,” Wakefield said. “The amount of vehicles you want out of your factories and your industrialization for EVs is less and less for longer.” Automakers will continue to slow spending on EVs and delay or cancel new battery-powered models, Wakefield said. They have been making those moves in advance of the election and likely would have reversed them had Vice President Kamala Harris prevailed in the presidential race, he said. Carmakers will also look for ways to increase production of profitable gasoline-fueled vehicles while converting EV plants into facilities that can also build gas-electric hybrids, as Volkswagen AG’s new Scout lineup is doing at its $2 billion EV factory under construction in South Carolina. “From a profitability perspective it’s a challenge because you’ve got a lot of industrial plans with assumed volumes for EVs that are less” now, Wakefield said. “So some of those plants might turn into hybrid plants doing both, rather than pure EV.” Trump will have difficulties rolling back Biden’s Inflation reduction Act Trump will face difficulties rolling back President Joe Biden’s Inflation Reduction Act legislation that spurred a building boom of EV and battery factories, many in Republican-leaning states. Bigger changes are likely in store for fuel economy regulations, Wakefield said. Trump softened those rules during his first administration and has promised to end what he calls “EV mandates” on the first day of his second term, though changing such policies involves a lengthy process that can take months or years. “It’s less about what happens this year,” Wakefield said. “That doesn’t hit you until 2027.” Market participants and investors will follow these developments carefully. This will help them in making better investment decisions going ahead, about the electric vehicle sector.

EV growth projections for Trump era are being significantly revised downward

China is looking to “resolve conflicts” in trade with the next US administration while now facing the increased likelihood of more tariffs being put in place, as advocated by US President-elect Donald Trump, according to a detailed report by South China Morning Post.

“China is willing to strengthen communication, expand cooperation and resolve conflicts with the United States by the principles of mutual respect, peaceful coexistence, and win-win cooperation,” Ministry of Commerce (Mofcom) spokeswoman He Yongqian said on Thursday afternoon – a day after the former US president’s return to power became clear following Tuesday’s election, the South China Morning Post report explained further.

She added that Beijing looks to “jointly promote the development of China-US economic and trade relations in a stable, healthy and sustainable direction that would benefit both countries and the world”.

During the same press conference, Mofcom confirmed that European Union officials arrived in Beijing on Saturday for “intensive trade negotiations” regarding EU tariffs on imported Chinese electric vehicles (EVs) that kicked in last week. The two sides had expressed intentions to talk, but it was not confirmed until Thursday.

Beijing could be facing extra pressure in trade following Trump’s election and at a time when it is already seeing tension growing in expanded fronts with some of its other trade partners.

Trump initiated a trade war with China during his first administration, from 2017-21, and the effects rippled through the global supply chain, spurring a shift that saw production lines diversify away from China.

During Trump’s election campaign, he said he would escalate current tariffs to 60 per cent on all Chinese imports, and add a 10 or 20 per cent blanket tariff on all foreign goods entering the US if granted another term.

Beijing has not directly responded to the possibility of increased tariffs from a new US administration but has condemned Washington for making “unilateralist and protectionist” moves with tariffs, and has retaliated with tariffs on some American imports.

The latest message from Mofcom follows President Xi Jinping’s congratulatory message to Trump on Thursday that included a call for “a stable, healthy and sustainable China-US relationship” as the world’s two largest economies have been engaging in wide-ranging competition in trade, security and tech in recent years.

Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute in Singapore, pointed to the high probability that the incoming Trump administration will raise tariffs on China, but said that Trump’s willingness to subsidise domestic industries, like US President Joe Biden has done through the Chips Act, is “less clear”.

“China may be hoping that these programmes will be replaced by new tariffs, which would essentially mean a less protectionist, and therefore [less] harmful, outcome for China, and the world,” Menon said.

China wants free trade with no tariffs or restrictions ... it knows more are coming Chen Zhiwu, University of Hong Kong Yet, more tariffs have been imposed on China and are expected to be on the way from American allies and trade partners.

In recent months, the US, Canada and the EU have imposed tariffs on Chinese EVs, after accusing China of unfair competition because of heavy state subsidies in the industry.

While EU tariffs as high as 45.3 per cent kicked in last week, Beijing and Brussels are still exploring the possibility of how individual Chinese carmakers could adjust the price and volume of their imports for the European market, despite failing to reach solutions in previous rounds of talks in the past two months.

The two sides are engaging in a price-undertaking negotiation with a “pragmatic” and “balanced” approach, Mofcom’s He said on Thursday. There was no information about how long the talks would last.

“China wants free trade with no tariffs or restrictions,” said Chen Zhiwu, chair professor of finance at the University of Hong Kong. “But realistically, it knows more are coming, due to the threats to developed economies from China’s intrinsic economic system, the South China Morning Post report explained further.

“Officials in Beijing should continue to stress the importance of free trade for world prosperity and be a champion for globalisation even when the global political realities make it hard to restore.”

Market participants and investors will closely follow these developments and how relations between the top two leading economies in the world evolve. This will help them in taking informed investment decisions going ahead.

China is looking to “resolve conflicts” in trade with the next US administration while now facing the increased likelihood of more tariffs being put in place, as advocated by US President-elect Donald Trump, according to a detailed report by South China Morning Post.

China is looking to “resolve conflicts” in trade with the next US administration while now facing the increased likelihood of more tariffs being put in place, as advocated by US President-elect Donald Trump, according to a detailed report by South China Morning Post. “China is willing to strengthen communication, expand cooperation and resolve conflicts with the United States by the principles of mutual respect, peaceful coexistence, and win-win cooperation,” Ministry of Commerce (Mofcom) spokeswoman He Yongqian said on Thursday afternoon – a day after the former US president’s return to power became clear following Tuesday’s election, the South China Morning Post report explained further. She added that Beijing looks to “jointly promote the development of China-US economic and trade relations in a stable, healthy and sustainable direction that would benefit both countries and the world”. During the same press conference, Mofcom confirmed that European Union officials arrived in Beijing on Saturday for “intensive trade negotiations” regarding EU tariffs on imported Chinese electric vehicles (EVs) that kicked in last week. The two sides had expressed intentions to talk, but it was not confirmed until Thursday. Beijing could be facing extra pressure in trade following Trump’s election and at a time when it is already seeing tension growing in expanded fronts with some of its other trade partners. Trump initiated a trade war with China during his first administration, from 2017-21, and the effects rippled through the global supply chain, spurring a shift that saw production lines diversify away from China. During Trump’s election campaign, he said he would escalate current tariffs to 60 per cent on all Chinese imports, and add a 10 or 20 per cent blanket tariff on all foreign goods entering the US if granted another term. Beijing has not directly responded to the possibility of increased tariffs from a new US administration but has condemned Washington for making “unilateralist and protectionist” moves with tariffs, and has retaliated with tariffs on some American imports. The latest message from Mofcom follows President Xi Jinping’s congratulatory message to Trump on Thursday that included a call for “a stable, healthy and sustainable China-US relationship” as the world’s two largest economies have been engaging in wide-ranging competition in trade, security and tech in recent years. Jayant Menon, a senior fellow at the ISEAS-Yusof Ishak Institute in Singapore, pointed to the high probability that the incoming Trump administration will raise tariffs on China, but said that Trump’s willingness to subsidise domestic industries, like US President Joe Biden has done through the Chips Act, is “less clear”. “China may be hoping that these programmes will be replaced by new tariffs, which would essentially mean a less protectionist, and therefore [less] harmful, outcome for China, and the world,” Menon said. China wants free trade with no tariffs or restrictions ... it knows more are coming Chen Zhiwu, University of Hong Kong Yet, more tariffs have been imposed on China and are expected to be on the way from American allies and trade partners. In recent months, the US, Canada and the EU have imposed tariffs on Chinese EVs, after accusing China of unfair competition because of heavy state subsidies in the industry. While EU tariffs as high as 45.3 per cent kicked in last week, Beijing and Brussels are still exploring the possibility of how individual Chinese carmakers could adjust the price and volume of their imports for the European market, despite failing to reach solutions in previous rounds of talks in the past two months. The two sides are engaging in a price-undertaking negotiation with a “pragmatic” and “balanced” approach, Mofcom’s He said on Thursday. There was no information about how long the talks would last. “China wants free trade with no tariffs or restrictions,” said Chen Zhiwu, chair professor of finance at the University of Hong Kong. “But realistically, it knows more are coming, due to the threats to developed economies from China’s intrinsic economic system, the South China Morning Post report explained further. “Officials in Beijing should continue to stress the importance of free trade for world prosperity and be a champion for globalisation even when the global political realities make it hard to restore.” Market participants and investors will closely follow these developments and how relations between the top two leading economies in the world evolve. This will help them in taking informed investment decisions going ahead.

Amid US-China trade tensions, Beijing urges reconciliation

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg.

Trump has threatened to put 60 per cent tariffs on Chinese goods<o:p></o:p>

Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further.

India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters.

“Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labour costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.”

That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent.

The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors.

“Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen prior to China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note.

Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8 but has fallen about 5 per cent since.

A short-term challenge<o:p></o:p>

Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note.

“Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.”

Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects.

While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver.

And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom.

“In the very near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded.

Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg.

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg. Trump has threatened to put 60 per cent tariffs on Chinese goods Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further. India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters. “Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labour costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.” That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent. The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors. “Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen prior to China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note. Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8 but has fallen about 5 per cent since. A short-term challenge Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note. “Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.” Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects. While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver. And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom. “In the very near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded. Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

Trump’s China threat shifts investor focus to Indian and Japanese stocks

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg.

Trump has threatened to put tariffs of as much as 60 per cent on Chinese goods<o:p></o:p>

Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further.

India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters.

“Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labor costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.”

That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent.

The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began in late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors.

“Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen before China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note.

Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8, but has fallen about 5 per cent since.

A short-term challenge for the Chinese economy<o:p></o:p>

Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note.

“Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.”

Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects.

While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver.

And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom.

“In the very-near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded.

Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

<o:p>&nbsp;</o:p>

<o:p>&nbsp;</o:p>

Donald Trump’s election victory is seen changing the course of near-term money flows for three of Asia’s largest equity markets as tariff risks loom large over Chinese assets, as detailed in a report by Bloomberg. Trump has threatened to put tariffs of as much as 60 per cent on Chinese goods Market watchers see the possibility of funds flowing into India and Japan while investors assess Trump’s anti-China stance, with the president-elect earlier having threatened to put tariffs of as much as 60 per cent on Chinese goods. Morgan Stanley just reiterated its preference for the two nations’ shares over China’s, the Bloomberg report explained further. India, viewed as a manufacturing alternative to China, is appealing to investors for its relative immunity to global risks given a domestic-driven economy. Japanese stocks are seen as indirect beneficiaries of Trump’s reflationary economic policy, which is expected to keep interest rates high, thereby boosting the dollar and weakening the yen to the advantage of the Asian nation’s exporters. “Supply chains have been moving away from China and that helps not only Japan and India but also other countries, particularly in Southeast Asia,” said veteran emerging-market investor Mark Mobius. “India is the big beneficiary since only India’s workforce can match the Chinese in numbers and labor costs. With Trump maintaining or even extending trade restrictions on China, this will be positive for India.” That suggests Wednesday’s price action in Asia is likely to have been a sign of things to come. As it became clear that Trump will return to the White House, the MSCI Japan Index and the MSCI India Index rallied at least 1.5 per cent each to cap their best day so far this quarter, while the MSCI China Index slumped over 2 per cent. The threat of tariffs is seen as complicating Beijing’s efforts to revive the economy and lift market sentiment through a series of stimulus measures that began in late September. This makes the nation’s ongoing legislature meeting all the more crucial for investors. “Should China’s anticipated stimulus announcements be less meaningful than expected, we believe investors could also rotate China exposure into Japanese equities which was seen before China’s initial round of stimulus announcements,” Morningstar Inc.’s analysts Lorraine Tan and Kai Wang wrote in a note. Chinese stocks were already under pressure in the run-up to the US election, with the rally triggered by a monetary policy blitz cooling in the absence of an impressive plan for fiscal spending. The CSI 300 Index surged nearly 35 per cent from a September low through October 8, but has fallen about 5 per cent since. A short-term challenge for the Chinese economy Republican proposals to impose higher tariffs on Chinese goods are likely to weigh on growth in the world’s second-largest economy, Morgan Stanley strategists including Jonathan Garner wrote in a note. “Bear in mind the tariff headwind could discount the net-net effect of the potential reflation measures” to be announced at China’s National People’s Congress standing committee meeting this week, they said. “We reiterate our core overweight Japan and underweight China view as well as our preference for Australia and India which we also overweight.” Any further weakness in Chinese stocks is likely to be positive for their biggest emerging-market rival India, given that China’s rebound has been cited as one of the key reasons for a record foreign exodus from the South Asian nation’s shares in October. Some other investors are more optimistic about China’s prospects. While Societe Generale SA sees a short-term hit to Chinese assets, it’s maintaining an overweight position on expectations that the “policy course correction undertaken since September” will continue as the main equity driver. And Japan as well as India have problems of their own to deal with. The former is staring at the possibility of excessive currency moves and potential intervention as the yen weakens against the dollar, while the latter is witnessing a slowdown in economic and earnings growth after a strong post-pandemic boom. “In the very-near term, the Trump trade could also be tactically positive for India” in terms of foreign flows, Madhavi Arora, an economist of Emkay Global Financial Services Ltd., wrote in a note. “However, there will be challenges in sustaining that rally” the Bloomberg report concluded. Market participants and investors all across the globe will follow these developments carefully. As Trump moves towards taking over the reins from Biden, the focus will shift towards his policies and vision for the US economy going ahead.

Trump's China threat shifts investor focus to India, Japan stocks

Bitcoin rallied Wednesday, hitting all-time highs as former President Donald Trump defeated Vice President Kamala Harris to win the White House, according to a detailed report by CNBC.

The price of the flagship cryptocurrency was last higher by 9 per cent at about $76,052.66, according to Coin Metrics, after touching a fresh record of $76,493.86, the CNBC report explained further.

“The themes around the Trump trade for crypto are deregulation, potential tax cuts for an asset that is both held long term but also day traded, less dependency on parts of government like financial institutions and the Fed or at least an alternative for decentralized currency, and overall support of risk assets and the growth of crypto is really what’s making it grow,” Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, told CNBC.

Ether surged 11 per cent, while the token tied to its competitor, Solana, rocketed 13 per cent. Payments token XRP jumped more than 5 per cent. Meanwhile, meme-coins soared, with dogecoin up more than 15 per cent.

Shares of Coinbase surged 31.11 per cent, posting its best day on record since its first day of trading. MicroStrategy, which trades as a high beta play on the price of Bitcoin, advanced 13 per cent.

While bitcoin is benefitting from its inflation hedge narrative, investors of other cryptocurrencies and Coinbase are betting the US regulatory environment will be more supportive of the crypto industry, as promised by Trump on the campaign trail.

Voters in this election were concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both Trump and Harris. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combine to reduce the value of the dollar and lift inflation.

Trump had presented himself as the pro-crypto candidate early in the race and courted the industry directly. That included declarations that he would install a crypto advisory council in his first 100 days in office, establish favourable regulation to encourage domestic “made in the USA” bitcoin mining, launch a strategic national bitcoin stockpile and what perhaps resonated most strongly with the industry replace Securities and Exchange Commission chair Gary Gensler, the CNBC report explained further.

Gensler has become an adversary to the crypto industry, which has long been frustrated with the refusal of the SEC, under his leadership, to provide clear guidance for US crypto businesses, choosing instead to regulate by enforcement, the industry says. Because of that, largely, this year’s presidential election has been called the most important one in the crypto industry’s lifetime.

“While President-elect Trump has claimed to make the US the ‘crypto capital’ of the world, the details of his plans remain to be seen, and I expect it to take some time to truly understand his stance towards crypto,” said Anthony Yeung, global head of strategic development at CoinCover.

“It’s in the interest of the industry that the US moves sooner rather than later when it comes to crafting a regulatory framework,” he said. “What it needs is targeted and proportionate regulation that prioritizes consumer protection and encourages innovation. Striking this balance will require close collaboration between regulators, policymakers and industry participants.”

In the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following election day, respectively. That’s in part because election years happen to fall on Bitcoin halving years, when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions.

Bitcoin rallied Wednesday, hitting all-time highs as former President Donald Trump defeated Vice President Kamala Harris to win the White House, according to a detailed report by CNBC.

Bitcoin rallied Wednesday, hitting all-time highs as former President Donald Trump defeated Vice President Kamala Harris to win the White House, according to a detailed report by CNBC. The price of the flagship cryptocurrency was last higher by 9 per cent at about $76,052.66, according to Coin Metrics, after touching a fresh record of $76,493.86, the CNBC report explained further. “The themes around the Trump trade for crypto are deregulation, potential tax cuts for an asset that is both held long term but also day traded, less dependency on parts of government like financial institutions and the Fed or at least an alternative for decentralized currency, and overall support of risk assets and the growth of crypto is really what’s making it grow,” Sylvia Jablonski, CEO and chief investment officer at Defiance ETFs, told CNBC. Ether surged 11 per cent, while the token tied to its competitor, Solana, rocketed 13 per cent. Payments token XRP jumped more than 5 per cent. Meanwhile, meme-coins soared, with dogecoin up more than 15 per cent. Shares of Coinbase surged 31.11 per cent, posting its best day on record since its first day of trading. MicroStrategy, which trades as a high beta play on the price of Bitcoin, advanced 13 per cent. While bitcoin is benefitting from its inflation hedge narrative, investors of other cryptocurrencies and Coinbase are betting the US regulatory environment will be more supportive of the crypto industry, as promised by Trump on the campaign trail. Voters in this election were concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both Trump and Harris. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combine to reduce the value of the dollar and lift inflation. Trump had presented himself as the pro-crypto candidate early in the race and courted the industry directly. That included declarations that he would install a crypto advisory council in his first 100 days in office, establish favourable regulation to encourage domestic “made in the USA” bitcoin mining, launch a strategic national bitcoin stockpile and what perhaps resonated most strongly with the industry replace Securities and Exchange Commission chair Gary Gensler, the CNBC report explained further. Gensler has become an adversary to the crypto industry, which has long been frustrated with the refusal of the SEC, under his leadership, to provide clear guidance for US crypto businesses, choosing instead to regulate by enforcement, the industry says. Because of that, largely, this year’s presidential election has been called the most important one in the crypto industry’s lifetime. “While President-elect Trump has claimed to make the US the ‘crypto capital’ of the world, the details of his plans remain to be seen, and I expect it to take some time to truly understand his stance towards crypto,” said Anthony Yeung, global head of strategic development at CoinCover. “It’s in the interest of the industry that the US moves sooner rather than later when it comes to crafting a regulatory framework,” he said. “What it needs is targeted and proportionate regulation that prioritizes consumer protection and encourages innovation. Striking this balance will require close collaboration between regulators, policymakers and industry participants.” In the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following election day, respectively. That’s in part because election years happen to fall on Bitcoin halving years, when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions.

Bitcoin soars 10% to record high above $76,000 as Trump win signals increased crypto adoption

As Donald Trump prepares to return to the White House, China is bracing for another round of unpredictable challenges in its relationship with the US under Trump's first term, the two countries clashed over trade, technology, and Taiwan, and now, with his second term on the horizon, similar issues are expected to resurface with even greater intensity, as detailed in a report by Associated Press.

A looming tariff war<o:p></o:p>

One of Trump’s key promises during his campaign is to impose sweeping tariffs on Chinese goods. His proposal to slap a blanket 60 per cent tariff on all Chinese exports could have devastating effects on China’s fragile economy, the Associated Press report detailed further.

Already grappling with high youth unemployment, a property market slump, and escalating government debt, China would face a sharp decline in economic growth. According to UBS, such tariffs could cut China’s projected economic growth by up to 2.5 percentage points.

During Trump’s first term, the US imposed tariffs on more than $360 billion worth of Chinese products, which led to a trade deal in 2020. However, China’s failure to fulfil its promises under that deal, such as buying additional American goods, has left many sceptics questioning whether another round of tariffs will have any lasting impact. With China’s economy in a weaker position now, analysts believe it may be more inclined to negotiate to avoid further damage.

A central aspect of Trump’s trade strategy could involve leveraging China’s influence on global issues. In his first term, he sought Xi Jinping’s help with North Korea, and now, Trump has suggested that he could press China to help resolve the Ukraine conflict. China’s position as a major trading partner of both Russia and Ukraine gives it a unique role in global diplomacy. However, it remains unclear whether Trump would prioritize trade grievances over fostering cooperation on global issues, a dilemma that could shape his second-term approach.

Taiwan remains a key flashpoint<o:p></o:p>

Trump’s rhetoric on Taiwan has also raised concerns in Beijing. China views Taiwan as part of its territory, and any US support for Taiwanese independence is seen as a major provocation. Trump’s controversial 2016 phone call with Taiwan’s then-president, Tsai Ing-wen, set the stage for tensions. Although Trump has indicated a commitment to maintaining the status quo in Taiwan, he has also stated that China would not dare to blockade the island if he were in office, citing his personal rapport with Xi Jinping. 

More troubling for China is Trump’s threat to impose even higher tariffs, ranging from 150 per cent to 200 per cent, if China were to invade Taiwan. While this stance may be aimed at deterring Beijing from military action, it risks escalating tensions further.

Disputes over semiconductor dominance<o:p></o:p>

The ongoing trade war between the US and China also centres on technology, particularly semiconductors. Trump’s administration started targeting Chinese tech giants like Huawei over national security concerns, a trend that has continued under President Biden.

However, Trump has criticized the Biden administration’s CHIPS Act, which incentivizes domestic semiconductor production in the US. Further, one of the issues at the heart of this conflict is Taiwan’s dominance in chip manufacturing, with the island’s TSMC accounting for nearly 90 per cent of the world’s advanced chips.

While the US has tried to increase its domestic chip production, Trump has accused Taiwan of taking advantage of US investments in the sector, potentially creating a new point of friction between Washington and Taipei.

Hence, as Trump re-enters the political stage, the US-China relationship is set to be filled with challenges. The renewed trade conflict, coupled with heightened tensions over Taiwan and technological dominance, signals a turbulent period ahead. While Trump’s policies may cause short-term economic disruptions, his unpredictable approach could reshape the global landscape and reframe the dynamics of US-China relations.

As Donald Trump prepares to return to the White House, China is bracing for another round of unpredictable challenges in its relationship with the US under Trump's first term, the two countries clashed over trade, technology, and Taiwan, and now, with his second term on the horizon, similar issues are expected to resurface with even greater intensity, as detailed in a report by Associated Press.

As Donald Trump prepares to return to the White House, China is bracing for another round of unpredictable challenges in its relationship with the US under Trump's first term, the two countries clashed over trade, technology, and Taiwan, and now, with his second term on the horizon, similar issues are expected to resurface with even greater intensity, as detailed in a report by Associated Press. A looming tariff war One of Trump’s key promises during his campaign is to impose sweeping tariffs on Chinese goods. His proposal to slap a blanket 60 per cent tariff on all Chinese exports could have devastating effects on China’s fragile economy, the Associated Press report detailed further. Already grappling with high youth unemployment, a property market slump, and escalating government debt, China would face a sharp decline in economic growth. According to UBS, such tariffs could cut China’s projected economic growth by up to 2.5 percentage points. During Trump’s first term, the US imposed tariffs on more than $360 billion worth of Chinese products, which led to a trade deal in 2020. However, China’s failure to fulfil its promises under that deal, such as buying additional American goods, has left many sceptics questioning whether another round of tariffs will have any lasting impact. With China’s economy in a weaker position now, analysts believe it may be more inclined to negotiate to avoid further damage. A central aspect of Trump’s trade strategy could involve leveraging China’s influence on global issues. In his first term, he sought Xi Jinping’s help with North Korea, and now, Trump has suggested that he could press China to help resolve the Ukraine conflict. China’s position as a major trading partner of both Russia and Ukraine gives it a unique role in global diplomacy. However, it remains unclear whether Trump would prioritize trade grievances over fostering cooperation on global issues, a dilemma that could shape his second-term approach. Taiwan remains a key flashpoint Trump’s rhetoric on Taiwan has also raised concerns in Beijing. China views Taiwan as part of its territory, and any US support for Taiwanese independence is seen as a major provocation. Trump’s controversial 2016 phone call with Taiwan’s then-president, Tsai Ing-wen, set the stage for tensions. Although Trump has indicated a commitment to maintaining the status quo in Taiwan, he has also stated that China would not dare to blockade the island if he were in office, citing his personal rapport with Xi Jinping. More troubling for China is Trump’s threat to impose even higher tariffs, ranging from 150 per cent to 200 per cent, if China were to invade Taiwan. While this stance may be aimed at deterring Beijing from military action, it risks escalating tensions further. Disputes over semiconductor dominance The ongoing trade war between the US and China also centres on technology, particularly semiconductors. Trump’s administration started targeting Chinese tech giants like Huawei over national security concerns, a trend that has continued under President Biden. However, Trump has criticized the Biden administration’s CHIPS Act, which incentivizes domestic semiconductor production in the US. Further, one of the issues at the heart of this conflict is Taiwan’s dominance in chip manufacturing, with the island’s TSMC accounting for nearly 90 per cent of the world’s advanced chips. While the US has tried to increase its domestic chip production, Trump has accused Taiwan of taking advantage of US investments in the sector, potentially creating a new point of friction between Washington and Taipei. Hence, as Trump re-enters the political stage, the US-China relationship is set to be filled with challenges. The renewed trade conflict, coupled with heightened tensions over Taiwan and technological dominance, signals a turbulent period ahead. While Trump’s policies may cause short-term economic disruptions, his unpredictable approach could reshape the global landscape and reframe the dynamics of US-China relations.

China braces for renewed tensions with Trump over trade, technology, and Taiwan

Investors betting against Trump Media &amp; Technology Group (DJT) have suffered a staggering $420 million loss, as the company's stock surged dramatically with Donald Trump's election victory, according to a report by financial analytics firm S3 Partners, as detailed in a report by Reuters.

Trump, 78, clinched a decisive win in the presidential race on Wednesday, defeating Democratic candidate Kamala Harris. In the weeks leading up to the election, DJT's stock saw a massive 196 per cent&nbsp;jump, turning the company’s shares into a volatile barometer for Trump’s reelection chances, the Reuters report explained further.

The stock, which tracks his election odds, gained significant attention alongside online gambling platforms like Polymarket and Kalshi, becoming a "meme stock" with a loyal following of retail investors, often characterised by their "diamond hands" mentality—refusing to sell no matter the price fluctuations.

Trump Media, the parent company of the Truth Social platform, is primarily owned by Donald Trump himself. The company operates a social media site and a streaming service. Its stock has attracted considerable short interest, contributing to its extreme volatility.

According to S3, the combination of a small float, heavy short interest, and the fervour of Trump supporters has made DJT highly susceptible to a "short squeeze," where rapid price increases force short sellers to cover their positions, exacerbating the price rise further.

In the days leading up to the election, DJT's stock experienced multiple halts due to wild price swings. On the day of Trump’s win, short sellers faced significant losses, with one report estimating a $77 million loss on 14 million shares at $5.50 per share.

With so many investors betting against the stock, the potential for a continued short squeeze remains high, S3 noted. The report highlighted that this situation makes DJT a key focus for market participants in the post-election period, with its price expected to stabilize closer to Trump’s inauguration in January.

The biggest beneficiary of the stock's meteoric rise has been Trump himself. Since March, his stake in the company has ballooned, reaching as high as $5.2 billion before settling at around $4.1 billion following the election.

The report suggests that Trump's financial windfall from the stock’s ascent, combined with his presidential victory, positions him for significant gains in the months ahead. In the face of these market fluctuations, Trump Media’s stock remains a highly speculative and volatile asset.

Investors betting against Trump Media & Technology Group (DJT) have suffered a staggering $420 million loss, as the company's stock surged dramatically with Donald Trump's election victory, according to a report by financial analytics firm S3 Partners, as detailed in a report by Reuters.

Investors betting against Trump Media & Technology Group (DJT) have suffered a staggering $420 million loss, as the company's stock surged dramatically with Donald Trump's election victory, according to a report by financial analytics firm S3 Partners, as detailed in a report by Reuters. Trump, 78, clinched a decisive win in the presidential race on Wednesday, defeating Democratic candidate Kamala Harris. In the weeks leading up to the election, DJT's stock saw a massive 196 per cent jump, turning the company’s shares into a volatile barometer for Trump’s reelection chances, the Reuters report explained further. The stock, which tracks his election odds, gained significant attention alongside online gambling platforms like Polymarket and Kalshi, becoming a "meme stock" with a loyal following of retail investors, often characterised by their "diamond hands" mentality—refusing to sell no matter the price fluctuations. Trump Media, the parent company of the Truth Social platform, is primarily owned by Donald Trump himself. The company operates a social media site and a streaming service. Its stock has attracted considerable short interest, contributing to its extreme volatility. According to S3, the combination of a small float, heavy short interest, and the fervour of Trump supporters has made DJT highly susceptible to a "short squeeze," where rapid price increases force short sellers to cover their positions, exacerbating the price rise further. In the days leading up to the election, DJT's stock experienced multiple halts due to wild price swings. On the day of Trump’s win, short sellers faced significant losses, with one report estimating a $77 million loss on 14 million shares at $5.50 per share. With so many investors betting against the stock, the potential for a continued short squeeze remains high, S3 noted. The report highlighted that this situation makes DJT a key focus for market participants in the post-election period, with its price expected to stabilize closer to Trump’s inauguration in January. The biggest beneficiary of the stock's meteoric rise has been Trump himself. Since March, his stake in the company has ballooned, reaching as high as $5.2 billion before settling at around $4.1 billion following the election. The report suggests that Trump's financial windfall from the stock’s ascent, combined with his presidential victory, positions him for significant gains in the months ahead. In the face of these market fluctuations, Trump Media’s stock remains a highly speculative and volatile asset.

Trump Media short sellers face $420 million loss amid volatile election surge

There was cause for gloating among crypto market traders on Wednesday after Donald Trump's victory. However, the bets of a closely watched French trader are likely to pay off millions of dollars.&nbsp;

An anonymous trader, whose real name is fredi9999, has four accounts on the polymarket predictions site. The French whale now stands to make over $48 million on his bets of a Trump win in predictions for the US Election outcome. This is based on Bloomberg calculations.&nbsp;

The four accounts will earn almost $22 million in the platform's most popular market, betting on the next US president. Other election-related bets, like Trump's popular vote or Pennsylvania's electoral college victory, brought in an additional $26 million.&nbsp;

Among all users of the Polymarket, two accounts belonging to the French trader generated more profits than any other in its history.&nbsp;

Since fredi9999's bets were among the biggest in Polymarket's presidential markets, suspicion of market manipulation began to mount, and scrutiny of his trading habits intensified weeks before the election.&nbsp;

According to Polymarket's probe, the individual responsible for the four accounts is a French national with a wealth of financial services knowledge who only wanted to wager on Trump's prospects.&nbsp;

How does betting work on Polymarket?&nbsp;

Only Polymarket can use Bitcoin to purchase "yes" or "no" shares. That monitors the outcomes of future events. The implied likelihood of each result is determined by the quantity of instruments bought and sold. Under each account's holdings, the profit total, which is the difference between the purchase price of the shares and one dollar, can be seen.&nbsp;

Even though Trump and his opponent Harris had been running neck and neck in the days preceding the vote, the betting markets turned significantly in Trump's favour.&nbsp;

Since Polymarket frequently showed trump win percentages that were many percentage points greater than other prediction markets, It had become a favourite among trump fans.

There was cause for gloating among crypto market traders on Wednesday after Donald Trump's victory. However, the bets of a closely watched French trader are likely to pay off millions of dollars.

There was cause for gloating among crypto market traders on Wednesday after Donald Trump's victory. However, the bets of a closely watched French trader are likely to pay off millions of dollars. An anonymous trader, whose real name is fredi9999, has four accounts on the polymarket predictions site. The French whale now stands to make over $48 million on his bets of a Trump win in predictions for the US Election outcome. This is based on Bloomberg calculations. The four accounts will earn almost $22 million in the platform's most popular market, betting on the next US president. Other election-related bets, like Trump's popular vote or Pennsylvania's electoral college victory, brought in an additional $26 million. Among all users of the Polymarket, two accounts belonging to the French trader generated more profits than any other in its history. Since fredi9999's bets were among the biggest in Polymarket's presidential markets, suspicion of market manipulation began to mount, and scrutiny of his trading habits intensified weeks before the election. According to Polymarket's probe, the individual responsible for the four accounts is a French national with a wealth of financial services knowledge who only wanted to wager on Trump's prospects. How does betting work on Polymarket? Only Polymarket can use Bitcoin to purchase "yes" or "no" shares. That monitors the outcomes of future events. The implied likelihood of each result is determined by the quantity of instruments bought and sold. Under each account's holdings, the profit total, which is the difference between the purchase price of the shares and one dollar, can be seen. Even though Trump and his opponent Harris had been running neck and neck in the days preceding the vote, the betting markets turned significantly in Trump's favour. Since Polymarket frequently showed trump win percentages that were many percentage points greater than other prediction markets, It had become a favourite among trump fans.

Pseudonymous French trader wins $48 million on Trump bet

China is extending visa-free entry to nationals from nine additional countries, including South Korea, Norway, Finland, and Slovakia, as part of its broader efforts to revive its tourism industry and strengthen diplomatic ties as detailed in a South China Morning Post report.

Starting November 8, citizens from these countries, along with Denmark, Iceland, Andorra, Monaco, and Liechtenstein, will be able to enter China without a visa for stays of up to 15 days for business, tourism, family visits, or transit purposes. This new policy will remain in effect until the end of 2025, increasing the total number of countries whose citizens enjoy visa-free access to 25, the South China Morning Post report detailed further.&nbsp;

The announcement came on the heels of a recent visit by Slovak Prime Minister Robert Fico to Beijing, where he discussed enhancing economic cooperation with China, particularly in the clean energy sector. Fico expressed Slovakia’s interest in joining the “Friends of Peace” initiative, a China-Brazil-led group focused on resolving the war in Ukraine through political dialogue.

His visit underscored Slovakia’s growing ties with China, despite tensions in the European Union, where the European Commission recently imposed tariffs on Chinese electric vehicles. Slovakia was one of the five EU nations that opposed these tariffs, viewing Chinese investments as crucial for its own growing electric vehicle industry.

China and European Union&nbsp;should maintain stable relations: Xi Jinping<o:p></o:p>

Chinese President Xi Jinping emphasised the importance of stable and mature relations between China and the European Union (EU), urging EU institutions to manage differences pragmatically and avoid politicizing trade and economic matters. Xi’s remarks reflect China’s ongoing efforts to balance its diplomatic outreach with its economic interests, particularly in light of recent EU tensions over trade policies.

The visa relaxation is also seen as a step toward easing tensions in China’s relations with South Korea. While the two nations maintain strong economic ties, their political relationship has been strained in recent years due to South Korea’s growing security partnership with the United States, especially under the leadership of President Yoon Suk-yeol.

Beijing has not had an ambassador in South Korea for more than three months, marking the longest diplomatic vacancy since the countries established formal ties. However, the new visa policy signals China’s desire to improve bilateral relations, even as its alignment with North Korea complicates matters.

China has been working to revitalize its tourism sector, which was significantly impacted by the COVID-19 pandemic and the strict travel restrictions that followed. Since easing these restrictions last year, the country has seen a notable uptick in foreign visitors. In the first half of 2024, China welcomed 14.64 million international visitors, a 152 per cent increase from the previous year. The number of visa-free entries during this period reached 8.5 million, accounting for 58 per cent of total inbound travel.

These figures highlight China’s growing appeal as a destination for business and leisure, with further increases expected as visa policies continue to ease.

The move to extend visa-free access is part of China’s broader strategy to boost tourism and economic recovery while strengthening diplomatic relations with key global players, particularly in Europe and Asia.

China on Trump’s US Presidential victory<o:p></o:p>

According to a report by Reuters, China expressed respect for the US election result and congratulated Donald Trump on his victory while an official newspaper called for a "pragmatic" approach to China-US relations to handle their differences properly.

Trump, a Republican who has promised to implement stiff tariffs, recaptured the White House with a sweeping victory over Democrat Kamala Harris in Tuesday's election.

"We respect the choice of the American people and congratulate Mr. Trump on his election as president," a Chinese foreign ministry spokesperson said in a statement late on Wednesday.

It is now to be seen how the two leading global economies will maintain relations going ahead, with Trump backing tariffs and trade restrictions that could complicate relations between both China and the US.

China is extending visa-free entry to nationals from nine additional countries, including South Korea, Norway, Finland, and Slovakia, as part of its broader efforts to revive its tourism industry and strengthen diplomatic ties as detailed in a South China Morning Post report.

China is extending visa-free entry to nationals from nine additional countries, including South Korea, Norway, Finland, and Slovakia, as part of its broader efforts to revive its tourism industry and strengthen diplomatic ties as detailed in a South China Morning Post report. Starting November 8, citizens from these countries, along with Denmark, Iceland, Andorra, Monaco, and Liechtenstein, will be able to enter China without a visa for stays of up to 15 days for business, tourism, family visits, or transit purposes. This new policy will remain in effect until the end of 2025, increasing the total number of countries whose citizens enjoy visa-free access to 25, the South China Morning Post report detailed further. The announcement came on the heels of a recent visit by Slovak Prime Minister Robert Fico to Beijing, where he discussed enhancing economic cooperation with China, particularly in the clean energy sector. Fico expressed Slovakia’s interest in joining the “Friends of Peace” initiative, a China-Brazil-led group focused on resolving the war in Ukraine through political dialogue. His visit underscored Slovakia’s growing ties with China, despite tensions in the European Union, where the European Commission recently imposed tariffs on Chinese electric vehicles. Slovakia was one of the five EU nations that opposed these tariffs, viewing Chinese investments as crucial for its own growing electric vehicle industry. China and European Union should maintain stable relations: Xi Jinping Chinese President Xi Jinping emphasised the importance of stable and mature relations between China and the European Union (EU), urging EU institutions to manage differences pragmatically and avoid politicizing trade and economic matters. Xi’s remarks reflect China’s ongoing efforts to balance its diplomatic outreach with its economic interests, particularly in light of recent EU tensions over trade policies. The visa relaxation is also seen as a step toward easing tensions in China’s relations with South Korea. While the two nations maintain strong economic ties, their political relationship has been strained in recent years due to South Korea’s growing security partnership with the United States, especially under the leadership of President Yoon Suk-yeol. Beijing has not had an ambassador in South Korea for more than three months, marking the longest diplomatic vacancy since the countries established formal ties. However, the new visa policy signals China’s desire to improve bilateral relations, even as its alignment with North Korea complicates matters. China has been working to revitalize its tourism sector, which was significantly impacted by the COVID-19 pandemic and the strict travel restrictions that followed. Since easing these restrictions last year, the country has seen a notable uptick in foreign visitors. In the first half of 2024, China welcomed 14.64 million international visitors, a 152 per cent increase from the previous year. The number of visa-free entries during this period reached 8.5 million, accounting for 58 per cent of total inbound travel. These figures highlight China’s growing appeal as a destination for business and leisure, with further increases expected as visa policies continue to ease. The move to extend visa-free access is part of China’s broader strategy to boost tourism and economic recovery while strengthening diplomatic relations with key global players, particularly in Europe and Asia. China on Trump’s US Presidential victory According to a report by Reuters, China expressed respect for the US election result and congratulated Donald Trump on his victory while an official newspaper called for a "pragmatic" approach to China-US relations to handle their differences properly. Trump, a Republican who has promised to implement stiff tariffs, recaptured the White House with a sweeping victory over Democrat Kamala Harris in Tuesday's election. "We respect the choice of the American people and congratulate Mr. Trump on his election as president," a Chinese foreign ministry spokesperson said in a statement late on Wednesday. It is now to be seen how the two leading global economies will maintain relations going ahead, with Trump backing tariffs and trade restrictions that could complicate relations between both China and the US.

China expands visa-free access for 9 more countries; congratulates Trump for victory

Nissan Motor will cut 9,000 jobs and 20 per cent of its global manufacturing capacity, the automaker said on Thursday (Nov 7), as it scrambles to reduce costs by $2.

Nissan Motor will cut 9,000 jobs and 20 per cent of its global manufacturing capacity, the automaker said on Thursday (Nov 7), as it scrambles to reduce costs by $2.6 billion in the current fiscal year amid a sales slump in China and the US. The plans underline the vulnerability of Japan's third-largest automaker, having never fully recovered from the disarray that led to the 2018 ouster of former chairman Carlos Ghosn and scaling back of the partnership with Renault SA. Nissan cut its annual profit outlook by 70 per cent to 150 billion yen ($975 million) on Thursday, the second time it lowered the forecast this year. Like many foreign automakers, it is struggling in China where BYD and other local manufacturers are gobbling up market share with affordable EVs and hybrids that boast advanced technology. Also read: Bitcoin soars 10% to record high above $76,000 as Trump win signals increased crypto adoption But Nissan's graver problem may be in the United States, where it lacks a credible line-up of hybrid cars. That's in contrast to Japanese rival Toyota, which has seen a boom in demand for gasoline-petrol hybrid cars. Nissan misread demand for hybrids in the United States, CEO Makoto Uchida told a press conference. "We didn't foresee HEVs ramping up this rapidly," he said, referring to hybrid EVs. "We did start to understand this trend towards the end of last fiscal year," he said, adding that making some changes to core models didn't go as smoothly as planned. The Yokohama-based company is planning to cut 9,000 jobs, equivalent to 6.7 per cent of its 133,580 global employees. It scrapped its net profit forecast due to ongoing restructuring efforts, which it said would reduce costs by 400 billion yen ($2.6 billion) this fiscal year. Also read: China expands visa-free access for 9 more countries; congratulates Trump for victory Uchida said he would voluntarily forfeit 50 per cent of his monthly compensation starting this month and the other executive committee members will also voluntarily take a pay cut. Nissan will cut its production capacity by 20 per cent, reduce vehicle development lead time to 30 months and deepen collaboration with its partners including Renault and Mitsubishi Motors, it said. Uchida declined to give any details about the timing or location of the job and production cuts. Nissan is also selling up to 10 per cent of its stake in Mitsubishi Motors to raise up to 68.6 billion yen ($445.45 million). The automaker has 25 vehicle production lines globally and plans to reduce the maximum capacity of those, Chief Monozukuri Officer Hideyuki Sakamoto told reporters. One method would be to change line speeds and shift patterns in factories, he said. Operating profit for the July-September second quarter tumbled 85 per cent to 31.9 billion yen, far below an LSEG consensus estimate of 66.8 billion yen. Nissan's global sales fell 3.8 per cent to 1.59 million vehicles for the first half of the financial year, largely due to a 14.3 per cent drop in China. US sales fell almost three per cent to about 449,000 vehicles. Together, the two markets account for nearly half of Nissan's global sales by volume. Honda Motor reported on Wednesday a surprise 15 per cent drop in second-quarter operating profit due to a heavy sales drop in China, sending shares in Japan's second-largest automaker down five per cent. ($1 = 154.0000 yen) Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Nissan slashes 9,000 jobs and 20 per cent of global production as sales slump in China and US

New tariffs are unlikely to stop Chinese electric vehicle (EV) firms from entering the European Union (EU) as their advantages in production and price will make their products competitive abroad, according to industry officials at the world’s largest trade show, as detailed in a report by South China Morning Post.

Officials spoke at the China International Import Expo<o:p></o:p>

Officials speaking at the 2024 China International Import Expo (CIIE) in Shanghai, stated that mainland companies are able to offer the best pure electric cars at the best prices and their development and manufacturing capabilities are unmatched by international competitors, the South China Morning Post report explained further.

“The Chinese carmakers’ superiority in EV making can be copied to other markets since they can cater to global consumers’ demand,” Sam Wu, CEO of Ford Motor China, said at the Hongqiao Forum, which is part of the CIIE, on November 6. “The Chinese EV industry is in the pole position thanks to an early start and government support.”

Two officials with major international carmakers said some of their Chinese-made EVs are easy to sell in EU countries even after absorbing additional tariffs of 17 per cent to 35.3 per cent.

EU recently imposed tariffs on pure-electric cars made in China<o:p></o:p>

Last month, the EU voted to impose tariffs on pure-electric cars made on the mainland following an anti-subsidy investigation. The new duties are on top of the standard 10 per cent tariff applied to pure-electric cars made in China. The new tariffs will be in effect for five years.

Further, global brands, including Volkswagen and BMW, are also subject to punitive measures because their mainland-built cars are assembled with partners like China-owned SAIC Motor and Brilliance Auto.

Chinese EV makers have a major cost advantage over their global rivals, benefiting from a fully developed supply chain and strong manufacturing heft, according to Stephen Dyer, Greater China co-leader and head of the Asia automotive practice at global consultancy AlixPartners. Pure electric cars made in China cost 35 per cent less than those assembled in other markets, he said in July.

In a teardown report last year, UBS said BYD, the world’s bestselling EV producer, had a sustainable 25 per cent cost advantage over traditional EU brands. BYD faces a 17 per cent additional EU tariff if it exports its mainland-built cars to the bloc.

Yin Tongyue, chairman of state-owned Chery Automobile, told the forum on November 6 that Chinese carmakers would not prosper without integrating into the global supply chain, the South China Morning Post report explained further.

“Chinese EV makers could not make rapid progress from the very beginning if we were not able to access the best technologies and the global automotive supply chain,” he said. “I think synergy with global partners and sustainability are the keywords for the Chinese players as we try to maintain our advantages.”

Xpeng, a Chinese builder of premium EVs, said on Wednesday that it was discussing with its European dealers about how to overcome the tariffs.

“Europe is a market that we put a lot of value on,” said Brian Gu, Xpeng’s vice-chairman and co-president. “As a company, we need to actively consider what types of models to offer locally, what business strategies to adopt, and whether we can make larger investments in the region to address these challenges.”

In the EU, SAIC faces the highest rate of 35.3 per cent, while Geely Auto was hit with an additional tariff of 18.8 per cent. Other Chinese carmakers will have to absorb a 20.7 per cent rate.

With the recent election victory of Trump the ongoing trade war between leading economies looks all set to escalate further. Market participants and investors across the globe will stay focused on these developments going ahead.

New tariffs are unlikely to stop Chinese electric vehicle (EV) firms from entering the European Union (EU) as their advantages in production and price will make their products competitive abroad, according to industry officials at the world’s largest trade show, as detailed in a report by South China Morning Post.

New tariffs are unlikely to stop Chinese electric vehicle (EV) firms from entering the European Union (EU) as their advantages in production and price will make their products competitive abroad, according to industry officials at the world’s largest trade show, as detailed in a report by South China Morning Post. Officials spoke at the China International Import Expo Officials speaking at the 2024 China International Import Expo (CIIE) in Shanghai, stated that mainland companies are able to offer the best pure electric cars at the best prices and their development and manufacturing capabilities are unmatched by international competitors, the South China Morning Post report explained further. “The Chinese carmakers’ superiority in EV making can be copied to other markets since they can cater to global consumers’ demand,” Sam Wu, CEO of Ford Motor China, said at the Hongqiao Forum, which is part of the CIIE, on November 6. “The Chinese EV industry is in the pole position thanks to an early start and government support.” Two officials with major international carmakers said some of their Chinese-made EVs are easy to sell in EU countries even after absorbing additional tariffs of 17 per cent to 35.3 per cent. EU recently imposed tariffs on pure-electric cars made in China Last month, the EU voted to impose tariffs on pure-electric cars made on the mainland following an anti-subsidy investigation. The new duties are on top of the standard 10 per cent tariff applied to pure-electric cars made in China. The new tariffs will be in effect for five years. Further, global brands, including Volkswagen and BMW, are also subject to punitive measures because their mainland-built cars are assembled with partners like China-owned SAIC Motor and Brilliance Auto. Chinese EV makers have a major cost advantage over their global rivals, benefiting from a fully developed supply chain and strong manufacturing heft, according to Stephen Dyer, Greater China co-leader and head of the Asia automotive practice at global consultancy AlixPartners. Pure electric cars made in China cost 35 per cent less than those assembled in other markets, he said in July. In a teardown report last year, UBS said BYD, the world’s bestselling EV producer, had a sustainable 25 per cent cost advantage over traditional EU brands. BYD faces a 17 per cent additional EU tariff if it exports its mainland-built cars to the bloc. Yin Tongyue, chairman of state-owned Chery Automobile, told the forum on November 6 that Chinese carmakers would not prosper without integrating into the global supply chain, the South China Morning Post report explained further. “Chinese EV makers could not make rapid progress from the very beginning if we were not able to access the best technologies and the global automotive supply chain,” he said. “I think synergy with global partners and sustainability are the keywords for the Chinese players as we try to maintain our advantages.” Xpeng, a Chinese builder of premium EVs, said on Wednesday that it was discussing with its European dealers about how to overcome the tariffs. “Europe is a market that we put a lot of value on,” said Brian Gu, Xpeng’s vice-chairman and co-president. “As a company, we need to actively consider what types of models to offer locally, what business strategies to adopt, and whether we can make larger investments in the region to address these challenges.” In the EU, SAIC faces the highest rate of 35.3 per cent, while Geely Auto was hit with an additional tariff of 18.8 per cent. Other Chinese carmakers will have to absorb a 20.7 per cent rate. With the recent election victory of Trump the ongoing trade war between leading economies looks all set to escalate further. Market participants and investors across the globe will stay focused on these developments going ahead.

EU tariffs will not stop Chinese electric vehicles from entering bloc: Report

Donald Trump's return to the US presidency has sent shockwaves through global financial markets, leaving central bankers worldwide grappling with the potential fallout of his economic policies, as detailed in a report by Bloomberg.

A renewed focus on tariffs, tax cuts, and stricter immigration policies has prompted fears of slower global growth and faster inflation, both of which could complicate central banks' ability to adjust interest rates in response, the Bloomberg report explained further.

Trump’s policies can strengthen dollar and tighten global liquidity<o:p></o:p>

Trump's promises to impose steep tariffs, including up to 60 per cent on Chinese goods and 20 per cent on imports from other nations, are expected to disrupt global trade flows. This protectionist stance could hurt economic expansion, particularly in Europe and emerging markets, while driving inflation in the US higher domestic prices would make the Federal Reserve less likely to ease rates, further strengthening the US dollar and tightening global liquidity.

The European Central Bank (ECB), already concerned about slowing growth, has factored in the potential for additional rate cuts in response to Trump’s trade policies. Goldman Sachs predicts a further reduction in ECB rates, while China, facing tariffs on its exports to the US, may need to ease monetary policy more aggressively, putting pressure on the yuan. However, this could limit the room for movement in other regions, especially emerging markets, where central banks are increasingly focused on stabilizing currencies.

Central banks in Asia are already facing the heat<o:p></o:p>

Central banks in Asia are already feeling the pressure. As Trump’s election results began to settle in, the US dollar surged against major currencies, triggering interventions by authorities in Asia to support their domestic currencies. In India, Reserve Bank Governor Shaktikanta Das expressed confidence in the country’s resilience but acknowledged the potential for volatility, with the Indian rupee spiking before calming, suggesting the RBI may have intervened in the market.

Similarly, China’s central bank stepped in to stabilize the yuan, which weakened over 1 per cent following the election. While the People's Bank of China (PBOC) may need to accelerate its policy easing to counteract the impact of tariffs, this could create additional stress for neighboring economies, which may be reluctant to follow suit, particularly if the US Federal Reserve slows its own rate-cutting cycle.

Trump’s policies can lead to a sharp escalation in tariffs<o:p></o:p>

Bloomberg Economics warns that Trump's protectionist policies could lead to a sharp rise in tariffs, potentially reducing US trade volumes with key partners such as China, Canada, and Mexico. A significant increase in US tariffs could disrupt trade flows, harm global growth, and drive inflation higher, particularly in countries reliant on exports to the US. The People’s Bank of China may be forced to act quickly, but other central banks may be less inclined to cut rates, even as inflationary pressures mount.

Elsewhere, concerns about the global economic impact of Trump’s victory were felt in Europe, particularly in the east, where fears of reduced US support for Ukraine are growing. The Euro weakened significantly against the dollar, with traders bracing for the potential economic fallout of Trump's trade policies. Similarly, in Australia, the Reserve Bank is monitoring the potential impact of tariffs on China, with concern that a trade war could hurt the Australian economy.

Therefore, as central banks navigate the uncertain aftermath of Trump’s election, the global financial system faces a challenging balancing act. 

The twin challenges of managing inflation and maintaining growth could lead to a tightening of monetary policy in some regions, while others, particularly in emerging markets, may struggle to protect their currencies from the strong US dollar.

Donald Trump's return to the US presidency has sent shockwaves through global financial markets, leaving central bankers worldwide grappling with the potential fallout of his economic policies, as detailed in a report by Bloomberg.

Donald Trump's return to the US presidency has sent shockwaves through global financial markets, leaving central bankers worldwide grappling with the potential fallout of his economic policies, as detailed in a report by Bloomberg. A renewed focus on tariffs, tax cuts, and stricter immigration policies has prompted fears of slower global growth and faster inflation, both of which could complicate central banks' ability to adjust interest rates in response, the Bloomberg report explained further. Trump’s policies can strengthen dollar and tighten global liquidity Trump's promises to impose steep tariffs, including up to 60 per cent on Chinese goods and 20 per cent on imports from other nations, are expected to disrupt global trade flows. This protectionist stance could hurt economic expansion, particularly in Europe and emerging markets, while driving inflation in the US higher domestic prices would make the Federal Reserve less likely to ease rates, further strengthening the US dollar and tightening global liquidity. The European Central Bank (ECB), already concerned about slowing growth, has factored in the potential for additional rate cuts in response to Trump’s trade policies. Goldman Sachs predicts a further reduction in ECB rates, while China, facing tariffs on its exports to the US, may need to ease monetary policy more aggressively, putting pressure on the yuan. However, this could limit the room for movement in other regions, especially emerging markets, where central banks are increasingly focused on stabilizing currencies. Central banks in Asia are already facing the heat Central banks in Asia are already feeling the pressure. As Trump’s election results began to settle in, the US dollar surged against major currencies, triggering interventions by authorities in Asia to support their domestic currencies. In India, Reserve Bank Governor Shaktikanta Das expressed confidence in the country’s resilience but acknowledged the potential for volatility, with the Indian rupee spiking before calming, suggesting the RBI may have intervened in the market. Similarly, China’s central bank stepped in to stabilize the yuan, which weakened over 1 per cent following the election. While the People's Bank of China (PBOC) may need to accelerate its policy easing to counteract the impact of tariffs, this could create additional stress for neighboring economies, which may be reluctant to follow suit, particularly if the US Federal Reserve slows its own rate-cutting cycle. Trump’s policies can lead to a sharp escalation in tariffs Bloomberg Economics warns that Trump's protectionist policies could lead to a sharp rise in tariffs, potentially reducing US trade volumes with key partners such as China, Canada, and Mexico. A significant increase in US tariffs could disrupt trade flows, harm global growth, and drive inflation higher, particularly in countries reliant on exports to the US. The People’s Bank of China may be forced to act quickly, but other central banks may be less inclined to cut rates, even as inflationary pressures mount. Elsewhere, concerns about the global economic impact of Trump’s victory were felt in Europe, particularly in the east, where fears of reduced US support for Ukraine are growing. The Euro weakened significantly against the dollar, with traders bracing for the potential economic fallout of Trump's trade policies. Similarly, in Australia, the Reserve Bank is monitoring the potential impact of tariffs on China, with concern that a trade war could hurt the Australian economy. Therefore, as central banks navigate the uncertain aftermath of Trump’s election, the global financial system faces a challenging balancing act. The twin challenges of managing inflation and maintaining growth could lead to a tightening of monetary policy in some regions, while others, particularly in emerging markets, may struggle to protect their currencies from the strong US dollar.

Trump's victory shakes global rate-cut expectations amid trade and inflation concerns

Shares in leading European clean energy companies took a sharp dive on November 6, following Donald Trump's resounding victory in the US presidential election. This happened as investors grew concerned about the future of US renewable energy policies under a second Trump administration, according to a detailed report by Reuters.

Trump has earlier expressed intentions to roll back climate policies, including leaving the Paris Agreement. He has also discussed about the undoing of President Biden's signature Inflation Reduction Act (IRA), which provides significant incentives for clean energy development, apart for this he also vowed to halt offshore wind projects through executive orders, casting doubt on the future of the critical renewable energy sectors in the US, the Reuters report explained further.

Due to these developments, stocks in leading European clean energy firms corrected significantly. Danish offshore wind giant Ørsted (ORSTED.CO) saw its shares drop by up to 14 per cent, whereas wind turbine manufacturers Vestas (VWS.CO) and Nordex (NDXG.DE) lost 11 per cent and 7.6 per cent, respectively. 

Uncertainty is back for the US renewable energy sector <o:p></o:p>

Alphavalue analyst Pierre-Alexandre Ramondenc stated that the election result reintroduced significant uncertainty into the market. "The key message is that uncertainty is back," he stated, the Reuters report explained further.

The US renewable energy sector is crucial for many European utility companies, including Portugal’s EDP Renováveis (EDPR.LS), Ørsted, and Germany’s RWE (RWEG.DE), all of which have substantial operations in the country.

Deutsche Bank analysts indicated that a full repeal of the IRA would depend on the US Congress, but changes to the law could still disrupt planned projects, particularly those that are still years away from completion.

Despite the market downturn, companies like Ørsted and Vestas remained optimistic about long-term US growth. Both firms had stated prior to the election that they expected US demand for clean energy would persist regardless of the election outcome. 

Angelo Meda, head of equities at Banor SIM in Milan, defended the sharp decline in Ørsted's share price as an "overreaction," explaining that the shift toward green energy was unlikely to be reversed entirely. He further added that he saw the dip as a buying opportunity.

Nordex, another wind turbine maker, acknowledged potential delays in project timelines but remained hopeful about continued growth in the US onshore wind market.

Other notable declines included shares of RWE, which dropped 6.6 per cent, and EDP Renovaveis, which saw an 11 per cent slump. The iShares Global Clean Energy ETF (INRG.L) also saw a 6 per cent decrease, reaching its lowest level since mid-2020.

Despite these concerns, analysts are divided on the potential long-term impact of Trump's presidency on the clean energy transition. Some view it as a temporary setback, while others warn of more significant disruptions ahead.

Shares in leading European clean energy companies took a sharp dive on November 6, following Donald Trump's resounding victory in the US presidential election. This happened as investors grew concerned about the future of US renewable energy policies under a second Trump administration, according to a detailed report by Reuters.

Shares in leading European clean energy companies took a sharp dive on November 6, following Donald Trump's resounding victory in the US presidential election. This happened as investors grew concerned about the future of US renewable energy policies under a second Trump administration, according to a detailed report by Reuters. Trump has earlier expressed intentions to roll back climate policies, including leaving the Paris Agreement. He has also discussed about the undoing of President Biden's signature Inflation Reduction Act (IRA), which provides significant incentives for clean energy development, apart for this he also vowed to halt offshore wind projects through executive orders, casting doubt on the future of the critical renewable energy sectors in the US, the Reuters report explained further. Due to these developments, stocks in leading European clean energy firms corrected significantly. Danish offshore wind giant Ørsted (ORSTED.CO) saw its shares drop by up to 14 per cent, whereas wind turbine manufacturers Vestas (VWS.CO) and Nordex (NDXG.DE) lost 11 per cent and 7.6 per cent, respectively. Uncertainty is back for the US renewable energy sector Alphavalue analyst Pierre-Alexandre Ramondenc stated that the election result reintroduced significant uncertainty into the market. "The key message is that uncertainty is back," he stated, the Reuters report explained further. The US renewable energy sector is crucial for many European utility companies, including Portugal’s EDP Renováveis (EDPR.LS), Ørsted, and Germany’s RWE (RWEG.DE), all of which have substantial operations in the country. Deutsche Bank analysts indicated that a full repeal of the IRA would depend on the US Congress, but changes to the law could still disrupt planned projects, particularly those that are still years away from completion. Despite the market downturn, companies like Ørsted and Vestas remained optimistic about long-term US growth. Both firms had stated prior to the election that they expected US demand for clean energy would persist regardless of the election outcome. Angelo Meda, head of equities at Banor SIM in Milan, defended the sharp decline in Ørsted's share price as an "overreaction," explaining that the shift toward green energy was unlikely to be reversed entirely. He further added that he saw the dip as a buying opportunity. Nordex, another wind turbine maker, acknowledged potential delays in project timelines but remained hopeful about continued growth in the US onshore wind market. Other notable declines included shares of RWE, which dropped 6.6 per cent, and EDP Renovaveis, which saw an 11 per cent slump. The iShares Global Clean Energy ETF (INRG.L) also saw a 6 per cent decrease, reaching its lowest level since mid-2020. Despite these concerns, analysts are divided on the potential long-term impact of Trump's presidency on the clean energy transition. Some view it as a temporary setback, while others warn of more significant disruptions ahead.

European clean energy stocks slide after Trump’s US election victory

US Treasury yields rose sharply on Election Day, driven by strong economic data and heightened uncertainty surrounding the outcome of the presidential race as detailed in a report by Bloomberg.

A strong report on the US services sector, showing the fastest growth in over two years, added to market volatility ahead of Thursday’s Federal Reserve policy meeting. The upbeat economic numbers dampened expectations for future rate cuts, with strategists now predicting a more prolonged period of higher rates, the Bloomberg report explained further.

The two-year Treasury yield reached a multi-month high of 4.24 per cent, while the 10-year yield rose by as much as eight basis points to 4.36 per cent, nearing a three-month high.

Further, this uptick in yields came despite a strong auction of $42 billion in 10-year Treasury notes, which drew solid demand at a yield of 4.347 per cent, slightly below market levels. However, the overall bond market remained jittery, with most yields remaining higher on the day as investor concerns about Fed policy and election outcomes mounted.

Bond market volatility spiked to levels not seen in over a year, as traders braced for turbulence regardless of the election result. The ICE BofA MOVE Index, which tracks expected Treasury yield fluctuations, closed at its highest level since October 2023. As the election results approach, options on Treasury futures implied the potential for a 22-basis point swing in 10-year yields by week’s end, the largest such move since 2012.

Bond markets are primed for significant price adjustments <o:p></o:p>

John Higgins, Chief Market Economist at Capital Economics, highlighted the potential for significant price adjustments in the bond market following the election. "While we expect some re-pricing in bonds once the election outcome is clear, it’s uncertain whether the market will see the extreme moves that investors are currently anticipating," he noted.

With the presidential race deadlocked between former President Donald Trump and Vice President Kamala Harris, markets are particularly sensitive to potential shifts in policy. A Republican win could mean a return to pro-growth policies, fuelling inflationary pressure and increasing the deficit, which could push Treasury yields even higher. Conversely, a victory for Harris, representing the Democrats, could dampen yields, as investors price in more cautious fiscal policy.

Tom di Galoma, head of fixed income at Curvature Securities, anticipates the 10-year yield could rise to 4.75 per cent or even 5 per cent post-election, given the expected push for economic expansion. The strong October services data, showing a surge in hiring, only added to speculation that the Fed may need to maintain higher rates for longer. Swaps traders are pricing in a high likelihood, over 90 per cent of a 25 basis point rate cut at the Fed’s meeting this week.

In the currency markets, the US dollar fell slightly, while currency volatility surged. The cost of hedging the euro against the dollar reached its highest level in over four years, as traders adjusted to the heightened risk in global markets. With recent polls showing a narrow race between Trump and Harris, investors are pricing in significant uncertainty in both Treasury and currency markets, preparing for further swings regardless of the election outcome. 

Overall, the combination of economic strength, an unpredictable election outcome, and Fed rate expectations has resulted in the highest levels of bond volatility in over a year, setting the stage for a potentially volatile week in financial markets.

US Treasury yields rose sharply on Election Day, driven by strong economic data and heightened uncertainty surrounding the outcome of the presidential race as detailed in a report by Bloomberg.

US Treasury yields rose sharply on Election Day, driven by strong economic data and heightened uncertainty surrounding the outcome of the presidential race as detailed in a report by Bloomberg. A strong report on the US services sector, showing the fastest growth in over two years, added to market volatility ahead of Thursday’s Federal Reserve policy meeting. The upbeat economic numbers dampened expectations for future rate cuts, with strategists now predicting a more prolonged period of higher rates, the Bloomberg report explained further. The two-year Treasury yield reached a multi-month high of 4.24 per cent, while the 10-year yield rose by as much as eight basis points to 4.36 per cent, nearing a three-month high. Further, this uptick in yields came despite a strong auction of $42 billion in 10-year Treasury notes, which drew solid demand at a yield of 4.347 per cent, slightly below market levels. However, the overall bond market remained jittery, with most yields remaining higher on the day as investor concerns about Fed policy and election outcomes mounted. Bond market volatility spiked to levels not seen in over a year, as traders braced for turbulence regardless of the election result. The ICE BofA MOVE Index, which tracks expected Treasury yield fluctuations, closed at its highest level since October 2023. As the election results approach, options on Treasury futures implied the potential for a 22-basis point swing in 10-year yields by week’s end, the largest such move since 2012. Bond markets are primed for significant price adjustments John Higgins, Chief Market Economist at Capital Economics, highlighted the potential for significant price adjustments in the bond market following the election. "While we expect some re-pricing in bonds once the election outcome is clear, it’s uncertain whether the market will see the extreme moves that investors are currently anticipating," he noted. With the presidential race deadlocked between former President Donald Trump and Vice President Kamala Harris, markets are particularly sensitive to potential shifts in policy. A Republican win could mean a return to pro-growth policies, fuelling inflationary pressure and increasing the deficit, which could push Treasury yields even higher. Conversely, a victory for Harris, representing the Democrats, could dampen yields, as investors price in more cautious fiscal policy. Tom di Galoma, head of fixed income at Curvature Securities, anticipates the 10-year yield could rise to 4.75 per cent or even 5 per cent post-election, given the expected push for economic expansion. The strong October services data, showing a surge in hiring, only added to speculation that the Fed may need to maintain higher rates for longer. Swaps traders are pricing in a high likelihood, over 90 per cent of a 25 basis point rate cut at the Fed’s meeting this week. In the currency markets, the US dollar fell slightly, while currency volatility surged. The cost of hedging the euro against the dollar reached its highest level in over four years, as traders adjusted to the heightened risk in global markets. With recent polls showing a narrow race between Trump and Harris, investors are pricing in significant uncertainty in both Treasury and currency markets, preparing for further swings regardless of the election outcome. Overall, the combination of economic strength, an unpredictable election outcome, and Fed rate expectations has resulted in the highest levels of bond volatility in over a year, setting the stage for a potentially volatile week in financial markets.

Treasuries slip on US election day as volatility hits one-year high: Report

Bitcoin rallied Tuesday evening, hitting an all-time high as investors bet former President Donald Trump was gaining an edge in the US election as results rolled in, according to a detailed report by CNBC.

The price of the flagship cryptocurrency touched a record $75,000 on the nose, according to Coin Metrics. It hit its previous record of $73,797.68, on March 14 and has been trading in a narrow range below $70,000 for much of the year since then, the CNBC report elaborated further.

Bitcoin’s Tuesday night gains increased as Trump took an early lead in the Electoral College, even though none of the major swing states were called yet by NBC News. Exchange operator Coinbase rose 3 per cent in after-hours trading, while MicroStrategy, advanced 4 per cent.

Investors are expecting bitcoin trading to be choppy until a clear winner is declared. A victory for Vice President Kamala Harris is expected to bring the risk of downside moves to the price of bitcoin, while traders anticipate a bump in price in the event of a win by former President Donald Trump.

“The election is having a massive influence on crypto,” said Ryan Rasmussen, head of research at Bitwise Asset Management. “Expect bitcoin and crypto more broadly, to be choppy in the days ahead until we have definitive election results.”

“If Trump wins, I believe we’ll see new all-time highs,” Rasmussen added. “If Harris wins, I expect a decent short-term sell-off, with prices taking a month or two to recover. But eventually, either way, I think we go higher.”

Bitcoin has a history of positive returns in the 90 days post elections

The CNBC report further explained that, in the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following Election Day, respectively.

&nbsp;That’s in part because election years happen to fall on Bitcoin halving years when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions.

At just below $70,000, bitcoin has been trading at its fair value price heading into Election Day, according to CryptoQuant. That means that if the election proves to be a positive catalyst in the coming days, bitcoin can rally and is poised to establish a new record, CryptoQuant analyst Julio Moreno said.

“For now, everyone we’ve spoken to is keeping their powder dry,” said James Davies, CEO at crypto futures and options trading platform Crypto Valley Exchange. “I’ve heard from numerous leading market makers and traders and can say with conviction that almost everyone is set up to react. They don’t even know which way markets will go based on results. There’s likely to be massive short-term volatility whichever outcome.”

This year’s presidential election has been called the most important one in the crypto industry’s lifetime. Many view a Harris win as a threat to crypto, the extent to which has been debated throughout this election cycle. Trump, on the other hand, is seen by many as a force for good in the industry after he presented himself earlier this year as the pro-crypto candidate and has been courting the industry more directly than Harris has.

Many voters are concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both candidates. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combines to reduce the value of the dollar and lift inflation.

Market participants and global investors will closely follow these developments and the election results. This will help them in taking informed investment decisions going ahead.

Bitcoin rallied Tuesday evening, hitting an all-time high as investors bet former President Donald Trump was gaining an edge in the US election as results rolled in, according to a detailed report by CNBC.

Bitcoin rallied Tuesday evening, hitting an all-time high as investors bet former President Donald Trump was gaining an edge in the US election as results rolled in, according to a detailed report by CNBC. The price of the flagship cryptocurrency touched a record $75,000 on the nose, according to Coin Metrics. It hit its previous record of $73,797.68, on March 14 and has been trading in a narrow range below $70,000 for much of the year since then, the CNBC report elaborated further. Bitcoin’s Tuesday night gains increased as Trump took an early lead in the Electoral College, even though none of the major swing states were called yet by NBC News. Exchange operator Coinbase rose 3 per cent in after-hours trading, while MicroStrategy, advanced 4 per cent. Investors are expecting bitcoin trading to be choppy until a clear winner is declared. A victory for Vice President Kamala Harris is expected to bring the risk of downside moves to the price of bitcoin, while traders anticipate a bump in price in the event of a win by former President Donald Trump. “The election is having a massive influence on crypto,” said Ryan Rasmussen, head of research at Bitwise Asset Management. “Expect bitcoin and crypto more broadly, to be choppy in the days ahead until we have definitive election results.” “If Trump wins, I believe we’ll see new all-time highs,” Rasmussen added. “If Harris wins, I expect a decent short-term sell-off, with prices taking a month or two to recover. But eventually, either way, I think we go higher.” Bitcoin has a history of positive returns in the 90 days post elections The CNBC report further explained that, in the 2012, 2016 and 2020 elections, bitcoin saw returns of roughly 87 per cent, 44 per cent and 145 per cent in the 90 days following Election Day, respectively. That’s in part because election years happen to fall on Bitcoin halving years when the supply of the cryptocurrency ratchets downward. Post-election returns have also tended to align with major Federal Reserve policy shifts. This year, the market is looking forward to further interest rate reductions. At just below $70,000, bitcoin has been trading at its fair value price heading into Election Day, according to CryptoQuant. That means that if the election proves to be a positive catalyst in the coming days, bitcoin can rally and is poised to establish a new record, CryptoQuant analyst Julio Moreno said. “For now, everyone we’ve spoken to is keeping their powder dry,” said James Davies, CEO at crypto futures and options trading platform Crypto Valley Exchange. “I’ve heard from numerous leading market makers and traders and can say with conviction that almost everyone is set up to react. They don’t even know which way markets will go based on results. There’s likely to be massive short-term volatility whichever outcome.” This year’s presidential election has been called the most important one in the crypto industry’s lifetime. Many view a Harris win as a threat to crypto, the extent to which has been debated throughout this election cycle. Trump, on the other hand, is seen by many as a force for good in the industry after he presented himself earlier this year as the pro-crypto candidate and has been courting the industry more directly than Harris has. Many voters are concerned about the state of the government deficit, which rose 8 per cent in the 2024 fiscal year to $1.8 trillion, and increased tax cuts promised by both candidates. Bitcoin, like gold, is seen by many investors as a hedge against the potential for fiscal and monetary policy that combines to reduce the value of the dollar and lift inflation. Market participants and global investors will closely follow these developments and the election results. This will help them in taking informed investment decisions going ahead.

Bitcoin surges to $75,000, a new record, as traders bet Trump has election edge

As the US election enters its final phase, global investors are bracing for a potential shakeup in financial markets. With the outcome still uncertain, attention is focused on the results expected later today, as the tight race between Republican candidate Donald Trump and Democratic contender Kamala Harris has already triggered market volatility in recent weeks, as detailed in a report by Reuters.

The election's impact could be far-reaching, influencing US tax, trade policies, and broader economic prospects, factors that affect not only the US but the global financial landscape.

One of the most contentious elections in modern US history<o:p></o:p>

This election is shaping up to be one of the most unusual and contentious in modern US history, marked by a razor-thin margin between the two candidates. The results could have wide-ranging consequences for US debt, the strength of the dollar, and industries across corporate America, the Reuters report elaborated further.

With control of Congress also up for grabs, the final outcome may be delayed, further fuelling uncertainty. Investors are particularly concerned about the possibility of contested results, reminiscent of the 2000 Bush-Gore race that saw the outcome of the election undecided for over a month.

Mike Mullaney, director of global markets research at Boston Partners, emphasised the significance of the election, describing it as “the most significant I have seen in my career.” The uncertainty surrounding the results could lead to volatility in global financial markets, especially in the hours following the first vote tallies.

Investors will be closely monitoring key battleground states for early indications, but meaningful results from some of these areas might not emerge until later in the night, heightening the sense of unpredictability.

Despite the election uncertainty, US stocks have performed strongly in 2024, with the S&amp;P 500 hitting record highs thanks to strong corporate earnings and a robust economy, aided by Federal Reserve rate cuts. However, the performance of assets tied to Trump’s standing in the polls has been mixed.

On Election Day, the S&amp;P 500 closed up 1.2 per cent on positive economic data, while certain "Trump trades" i.e., assets influenced by Trump's policy proposals, showed volatility. For instance, stocks related to Trump Media surged initially but closed lower, while bitcoin saw a 4 per cent increase, as betting markets leaned in favor of Trump’s re-election.

The so-called “Trump trades” have been driven by expectations that a second Trump term would bring looser regulations, tax cuts, and tariff hikes, particularly targeting countries like Mexico, which has led to sharp declines in the Mexican peso. Yields on US Treasuries have risen in anticipation of higher inflation, another potential consequence of Trump's policies. 

On the other hand, a Kamala Harris presidency would likely result in higher taxes, stricter regulations, and a push for green energy initiatives. Harris' policies could also lead to greater support for clean energy, a shift that could impact energy and related sectors. The battle for control of Congress will also be crucial, as both candidates will likely need to secure their party’s dominance in the legislature to implement significant policy changes.

While historical trends show that stocks tend to rally after elections, especially once the result is clear, investors are concerned that a prolonged or contested vote count could cause turbulence in the markets. As the election results unfold, many are hoping for a swift and decisive outcome to reduce uncertainty and avoid a repeat of the 2000 election recount crisis, which saw the S&amp;P 500 drop by 5 per cent.

As the financial world watches closely, many analysts remain cautious, anticipating that markets will likely experience volatility in the coming days. “An unclear election is a big problem,” said Matt Maley, chief market strategist at Miller Tabak. "There’s a lot going on in the geopolitical arena, and investors are anxious about how it all plays out."

As the US election enters its final phase, global investors are bracing for a potential shakeup in financial markets. With the outcome still uncertain, attention is focused on the results expected later today, as the tight race between Republican candidate Donald Trump and Democratic contender Kamala Harris has already triggered market volatility in recent weeks, as detailed in a report by Reuters.

As the US election enters its final phase, global investors are bracing for a potential shakeup in financial markets. With the outcome still uncertain, attention is focused on the results expected later today, as the tight race between Republican candidate Donald Trump and Democratic contender Kamala Harris has already triggered market volatility in recent weeks, as detailed in a report by Reuters. The election's impact could be far-reaching, influencing US tax, trade policies, and broader economic prospects, factors that affect not only the US but the global financial landscape. One of the most contentious elections in modern US history This election is shaping up to be one of the most unusual and contentious in modern US history, marked by a razor-thin margin between the two candidates. The results could have wide-ranging consequences for US debt, the strength of the dollar, and industries across corporate America, the Reuters report elaborated further. With control of Congress also up for grabs, the final outcome may be delayed, further fuelling uncertainty. Investors are particularly concerned about the possibility of contested results, reminiscent of the 2000 Bush-Gore race that saw the outcome of the election undecided for over a month. Mike Mullaney, director of global markets research at Boston Partners, emphasised the significance of the election, describing it as “the most significant I have seen in my career.” The uncertainty surrounding the results could lead to volatility in global financial markets, especially in the hours following the first vote tallies. Investors will be closely monitoring key battleground states for early indications, but meaningful results from some of these areas might not emerge until later in the night, heightening the sense of unpredictability. Despite the election uncertainty, US stocks have performed strongly in 2024, with the S&P 500 hitting record highs thanks to strong corporate earnings and a robust economy, aided by Federal Reserve rate cuts. However, the performance of assets tied to Trump’s standing in the polls has been mixed. On Election Day, the S&P 500 closed up 1.2 per cent on positive economic data, while certain "Trump trades" i.e., assets influenced by Trump's policy proposals, showed volatility. For instance, stocks related to Trump Media surged initially but closed lower, while bitcoin saw a 4 per cent increase, as betting markets leaned in favor of Trump’s re-election. The so-called “Trump trades” have been driven by expectations that a second Trump term would bring looser regulations, tax cuts, and tariff hikes, particularly targeting countries like Mexico, which has led to sharp declines in the Mexican peso. Yields on US Treasuries have risen in anticipation of higher inflation, another potential consequence of Trump's policies. On the other hand, a Kamala Harris presidency would likely result in higher taxes, stricter regulations, and a push for green energy initiatives. Harris' policies could also lead to greater support for clean energy, a shift that could impact energy and related sectors. The battle for control of Congress will also be crucial, as both candidates will likely need to secure their party’s dominance in the legislature to implement significant policy changes. While historical trends show that stocks tend to rally after elections, especially once the result is clear, investors are concerned that a prolonged or contested vote count could cause turbulence in the markets. As the election results unfold, many are hoping for a swift and decisive outcome to reduce uncertainty and avoid a repeat of the 2000 election recount crisis, which saw the S&P 500 drop by 5 per cent. As the financial world watches closely, many analysts remain cautious, anticipating that markets will likely experience volatility in the coming days. “An unclear election is a big problem,” said Matt Maley, chief market strategist at Miller Tabak. "There’s a lot going on in the geopolitical arena, and investors are anxious about how it all plays out."

Global investors on edge as US election results loom