Higher bond yields are usually bad news for stock investors. But that’s not the case for these stocks, given their innovative business models, strategist Amy Kong says.
“We continue to be constructive on stocks relative to bonds and cash but recognize risks have escalated,” Kong, who is chief investment officer at CI Barrett Private Wealth, told CNBC’s “Street Signs Asia” on Wednesday.
Pro subscribers can read more here.
— Zavier Ong
China’s consumer price index for February came in at 1% year on year, coming off from an annual increase of 2.1% in January.
The figure is lower than Reuters’ forecast of a 1.9% increase. Prices of food, alcohol and tobacco increased by 2.1% year on year.
China’s producer price index for February declined 1.4% compared to a year ago, deepening a contraction of 0.8% in January.
— Lee Ying Shan
Major cryptocurrencies bitcoin and ether sank in early Asia trade after the central lender to the crypto industry, Silvergate Capital, said it will shutdown its operations.
“In light of recent industry and regulatory developments, Silvergate believes that an orderly wind down of Bank operations and a voluntary liquidation of the Bank is the best path forward,” the company said in a statement. Bankrupt crypto exchange FTX was a major Silvergate customer.
Bitcoin was down 2.31% to trade at $21,711.8 while Ether fell 2.15% to $1,532.98 according to CoinDesk data.
— Lee Ying Shan
European markets are heading for a lower open on Thursday as investors gauge the regional and global economic outlook.
The U.K.’s FTSE 100 index is expected to open 24 points lower at 7,909, Germany’s DAX 27 points lower at 15,623, France’s CAC down 14 points at 7,316 and Italy’s FTSE MIB down 2 points at 27,902, according to data from IG.
Earnings come from Aviva, Domino’s Pizza, Hugo Boss and Deutsche Post.
— Holly Ellyatt
Kacey Musgraves has shared her latest single ‘Too Good To Be True’ and has announced details of a 2024 UK, European and US tour. READ MORE: Kacey Musgrave
'Defence is not escalation': Estonian PM urges West to stand up to Russian intimidation
A Leopard 1 A5 combat tank of the German Bundeswehr armed forces fires during a military exercise at the Klietz military trainin
A green energy expert has warned that The West needs to "wake up" to the threat of China dumping cheap electric vehicles into our markets and destroying jobs. I