3 hours ago
Samsung Electronics soars over 5%, SK Hynix falls over 3%
Shares of South Korean giant Samsung Electronics soared after semiconductor giant Nvidia announced that the South Korean chipmaker's high-bandwidth memory chips are in the “eligible” stage for use in Nvidia's graphics processing units. soared more than %.
This comes after rival SK Hynix announced it would offer its high-bandwidth memory (HBM) chips to customers, with Reuters saying Nvidia would be its first customer. SK Hynix's stock price fell by as much as 3.56% on Wednesday.
— Lim Huijie
4 hours ago
China reportedly leaves loan prime rate unchanged and changes People's Bank leadership
The People's Bank of China kept the one-year and five-year loan prime rates unchanged at 3.45% and 3.95%, respectively.
The one-year LPR acts as a peg for most household and business loans, and the five-year LPR is the benchmark for most property mortgages.
Separately, Reuters reported that the People's Bank of China reorganized its monetary policy committee, adding Wu Qing, head of the securities regulator, and Xuan Changneng, deputy central bank governor.
5 hours ago
Yen hits four-month low after Bank of Japan's landmark decision
The Japanese yen hit a four-month low of 151.3 yen against the dollar on Tuesday, after Japan's central bank made a landmark shift in monetary policy. This is the lowest price since November 13th at 151.71.
If the yen exceeds the November 13 low, it will be the lowest value against the dollar since June 1990, when the asset bubble burst.
The Bank of Japan raised interest rates from -0.1% to around 0%-0.1% and abolished its yield curve control policy.
7 hours ago
Chipotle Mexican Grill's stock price soars after 50-for-1 stock split
See chart…
Chipotle Mexican Grill
8 hours ago
RBC Capital Markets warns of continued volatility in trading
Traders work on the floor of the New York Stock Exchange on March 13, 2024.
Brendan McDiarmid | Reuters
Trading could be volatile in the coming months, according to RBC Capital Markets.
Technical strategist Robert Sluimer told clients that the S&P 500 and Nasdaq Composite have “only been flat in a narrow, volatile range” for the past two weeks, with no evidence of a true reversal of the uptrend. He said that it has not been done. Looking ahead, he warned that a busy trading period is expected in the second quarter of this year.
“We expect further volatility heading into the second quarter, with both indexes likely to remain in volatile sideways trading ranges,” Sluimer said in a note to clients.
He said stocks should rise further this year, but noted there could be a short pause or pullback in the next quarter.
— Alex Harring
8 hours ago
