Iron ore prices dropped from a five-month high, and base metal values also declined after a key briefing by China’s top economic planner. The meeting, which many were eagerly anticipating, concluded without any new promises to increase government spending, causing market concerns.
In a recent Hong Kong Exchange filing, a mistake indicated that Pictet Asset Management made an enormous investment of HK$121.2 billion, or about $15.6 billion, in China Construction Bank Corp. The erroneous filing has raised questions, but officials have not clarified the situation yet.
Australia's central bank plans to maintain interest rates at a 12-year high until it sees a sustainable move towards its inflation target. Recent minutes from the last board meeting indicate that any easing of policy is still a long way off.
Brent oil prices have dropped below $80 a barrel as hopes for additional stimulus from China have faded. This has triggered a risk-off sentiment across global markets.
China's record-breaking equity rally has lost steam following a key briefing on expected economic stimulus measures, which left investors disappointed. As a result, Hong Kong shares took a sharp plunge, while the yen strengthened.
Short-term options for China-linked ETFs in the US hit new highs on Monday as stocks continued to rally. This surge comes just ahead of the reopening of onshore markets on Tuesday after a week-long holiday.
Mizuho Analyst Jordan Klein joined Caroline Hyde and Ed Ludlow on Bloomberg Technology to discuss current buyside sentiment on Apple. He highlighted that sentiment is at a low point, particularly due to weak checks on the iPhone 16. Klein emphasized that the sentiment "could not be any worse" regarding Apple's outlook.
Financial influencers on platforms like TikTok, YouTube, and Reddit are promoting a new speculative approach to the stock market, claiming potential payouts exceeding 100%. Bloomberg's Denitsa Tsekova discusses this trend with Katie Greifeld on "Bloomberg Markets."
US consumer borrowing rose in August, but at a slower rate compared to July. This slowdown was mainly due to the largest decline in credit card balances since March 2021.
Shore Capital Partners, a Chicago-based private equity firm led by Justin Ishbia, has successfully closed on $1.9 billion for three new funds. Two of these funds will focus on expanding beyond the firm's traditional small-business investment strategy.
