Tech leads losses as Asian stocks track Wall Street sell-off
HONG KONG – Technology stocks were back in the crosshairs of investors on Aug 19, taking another heavy blow from a spike in bond yields, rising oil prices, persistent inflation and dimming hopes for a deal to reopen the Strait of Hormuz.
The sell-off tracked losses on Wall Street,
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Read MoreJudges seem poised to side with banks on state rate caps
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- Key insight: The court’s decision carries high stakes for the banking industry, which is fighting the enactment of a 2023 Colorado law that deals with the state’s interest-rate cap.
- What’s at stake: Banking groups argue that applying varying state rate caps on out-of-state banks would disrupt interstate banking and fracture the dual-banking system.
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Read MoreMarket consensus of Bank of Japan's terminal rate at 2% is a bit too ambitious: Strategist
JP Morgan Asset Management’s Marcella Chow expects Bank of Japan to hike interest rate in the September meeting and keeps hiking every 6 months.
Read MoreSouth Korea’s leveraged ETFs tied to chipmakers see $1B in outflows as regulatory hammer drops
South Korean investors pulled nearly $1 billion from leveraged ETFs linked to the country’s biggest chipmakers this month, capping one of the most dramatic boom-and-bust cycles in recent ETF history.
The funds, which offered 2x leveraged exposure to Samsung Electronics and SK Hynix, launched at the end of May 2026 to feverish demand.
Read MoreThe Burst
Billionaire Bought This Under-the-Radar Chip Stock
At one time, Al Gore’s fund, Generation Investment Management, had so much conviction in Qualcomm that they bet around half a billion dollars on it.
Today, another huge investment fund founded by billionaire David Tepper has a stake in the chipmaker. What is it that these money managers see in the San Diego-headquartered firm to persuade them to risk hundreds of millions of dollars?
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Read MoreThe Ivy
Massive Buy Sign Flashing In Magnificent 7 Stock
If one trader with an awesome track record is right, a Magnificent 7 stock is about to start a rip roaring rally that will last for some time.
Remarkably, it’s also been one of the poorest performers this year, down 4% so far against a market rally in the S&P 5oo of 20%.
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Read MoreThe Spotlight
Is it Finally Time to Buy UBER?
Is it time to buy UBER stock? Uber Technologies (NYSE:UBER) seems to be on a roll. Despite the disruption the emergence of the COVID-19 caused in the transportation marketplace, UBER seems to be snapping back. During the company’s most recent quarterly earnings call, CEO Dara Khosrowshah stated that the company had achieved total adjusted EBITDA profitability for the second quarter in a row –