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  • Dec 31, 2024

2025 stock market predictions from the big banks

The year 2024 marked a historic milestone as the Dow Jones, Nasdaq, and S&P 500 all reached new record highs, fueled by the surge in artificial intelligence and significant shifts in the economic and political landscape.

  • Dec 30, 2024

Tesla to fix software for 77,650 China-made vehicles, says market regulator

Tesla will fix software in 77,650 China-made Model 3 and Model Y cars over safety hazards, China's market regulator said on Tuesday. The action, due to software issues that may fail to display the monitored tyre pressure immediately after the vehicle starts, is described as a product recall under Chinese regulations, the regulator said. It was not immediately clear if drivers might need, or would be eligible, to return vehicles to Tesla for refunds.

  • Dec 30, 2024

China's new forex rules require banks to tighten scrutiny on cryptocurrency trades

China's foreign exchange regulator released new rules that require banks to flag risky trades, including those involving cryptocurrencies, which would make it more difficult for mainland investors to buy and sell bitcoin and other digital assets. Banks are expected to monitor and report "risky foreign exchange trading behaviours", including underground banks, cross-border gambling and illegal cross-border financial activities involving cryptocurrencies, according to last week's announcement by t

  • Dec 30, 2024

A better year expected for IPO bankers as Hong Kong claws its way back into top 10 markets

After a satisfying year for investment bankers in Hong Kong, who helped lift the city back into the top 10 ranking in initial public offerings (IPOs) worldwide, the new year could be merrier as Hong Kong Exchanges and Clearing (HKEX) prepares for more market debutants. Companies and investors raised US$11 billion from 64 first-time stock offerings on the main board, according to data compiled by the London Stock Exchange Group, making it the fifth busiest IPO venue. India's two main exchanges an

  • Dec 30, 2024

Markets in 2024: Wall Street's high-octane rally keeps investors captive to the US

Markets that began the year with investors expecting a global stock rally to fizzle, swift U.S. interest rate cuts to boost Treasuries and soften the dollar and emerging market currencies to strengthen have firmly defied that consensus. That comes mostly thanks to a second year of huge gains for Wall Street stocks as artificial intelligence fever and robust economic growth sucked more global capital into U.S. assets and took the dollar up 6.6% against peers in 2024. U.S. exuberance rose after Donald Trump's Nov. 5 election win, as traders focused on the President-elect's plans for tax cuts and deregulation, with the surge in animal spirits propelling cryptocurrency bitcoin to a 122% annual gain.

  • Dec 30, 2024

Chinese stocks post first annual gain since 2020, HK ends 4-year rout

Chinese stocks registered their first annual gain following an unprecedented three-year decline despite a dip on the final trading day of 2024, while Hong Kong shares ended the year higher, supported by optimism over policy support. The blue-chip CSI 300, tracking the biggest companies listed in Shanghai and Shenzhen, rose 14.7% this year, breaking a losing streak since 2021 set off by the COVID-19 pandemic, property sector woes and weak consumer confidence. Hong Kong's benchmark Hang Seng Index closed the year's final session up 0.1%, for an annual gain of 17.7% that ended four consecutive years of losses.

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