In June, foreign investors have been investing in the Chinese markets. The flow of funds has been attributed to expectations of a US Federal Reserve rate cut, which would make US investments less profitable.
An estimate of 27 analysts from LSEG SmartEstimate has been published and revealed that the profit of Samsung Electronics is set to have increased 13-fold to $6.35 billion. The surge has been attributed to the AI frenzy.
Nikkei has reported that Nissan and Honda are set to work together on EV charging infrastructure and software.
Reuters has published the opinion of a think tank that Japan could experience a shortage of workers of at least one million by 2040.
The United Nations have reported that Chinese firms have been leading in the race for registering generative artificial intelligence patents. China has reportedly filed for six times more patents than the closest rival the United States.
The fund network Calastone has reported that UK investors have bought additional 11.4 billion GBP in equity funds in the first half of 2024.
Hyundai Motor Group and LG Energy Solution have opened up a new electric vehicle plant in Indonesia.
Market data indicates that the financial world has started to focus on US Presidential Election instead of the US Federal Reserve monetary policy.
The US Bureau of Labor Statistics has just released the US monthly employment data. In general, the data shows a mixed job environment. The US Dollar is reacting to the news by an initial spike up and then starting a decline.
The Handelsblatt has reported that the Italian government intends to order 350 infantry fighting vehicles and 200 main battle tanks from Rheinmetall. The order is set to amount to 20 billion Euros.
The Swiss banking group Credit Suisse has received a fine from South Korean authorities. The bank has been fined for illegal equity short selling.
IMF'S Kammer has stated that recent Euro Zone inflation data indicates that the European Central Bank can continue to cut interest rates.
The results of a poll done by Reuters have revealed that market analysts do not expect emerging market currencies to recover their losses against the US Dollar at least until the end of 2024.
President of the Chicago Federal Reserve Bank Austan Goolsbee has commented that he has observed signs of a weakening economy.
Toyota Motor Corporation has reported a 9.20% increase of sales in the United States. Sales have been driven higher by demand for SUVs.
Second quarter US auto sales of General Motors have continued to grow. However, the growth pace has slowed down, as sales increased only 0.6%.
This week, the head of the US Federal Reserve Jerome Powell made a speech on monetary policy. The main message behind the speech was that more data is needed before USD interest rate cuts.
Reuters has reported that NVidia could be charged by French regulators for anti-competitive practices.
The Chinese Electric Vehicle producer BYD has published a 21% quarterly increase of electric vehicle sales.
Reuters has reported that four Japanese insurance firms have planned to sell off around $3.1 billion of shares of the Honda Motor Company.
The Australian and New Zealand Banking Group has been forced by the Banking Code Compliance Committee to repay $2.19 million to representatives of customers that have been impacted by ANZ's practices of charging deceased customers.
This week, Qatar Airways revealed a 39% increase in annual net profits, as the firm has profited $1.67 billion in the financial year that ended on March 31.
The sales of Tesla's China-made EVs have declined in June by 24.2%, compared on an annual basis with June of 2023.
Throughout Wednesday's trading, the US Dollar has been declining due to a string of worse than forecast or at forecast data.