Nasdaq rallies again while yen falls despite BOJ rate hike

In order to encourage foreigners to participate in the political process, embassy personnel provided participants with information on ballot issuance, voting processes, and voter registration via the postal voting app.

The Ambassador stated in his speech that the sizable Bangladeshi population in Italy greatly helps to the strengthening of friendship and sociocultural ties between the two nations and is essential to Bangladesh’s economy through remittances.

In addition to outlining measures taken to protect their rights, dignity, and welfare, he reiterated the embassy’s commitment to provide better services for expatriates and discussed the intentions and actions of the interim administration to further assist Bangladeshi expats living overseas.

Large tech names are “kind of carrying the market in today’s session,” said Briefing.com analyst Patrick O’Hare. Those gains “helped stabilize a market that was kind of acting a little squirrely over the past week,” he added.

Stocks have been choppy in recent weeks amid unease over the massive spending spree on AI infrastructure. But Micron’s results helped reignite the AI stock trade.

The Dow and S&P 500 also advanced on a day in which most leading European and Asian bourses also rose.

Also Friday, the Bank of Japan hiked interest rates to a 30-year high.

The unanimous vote to lift the main borrowing rate to 0.75 percent from 0.5 percent came hours after official data showed the country’s core inflation rate held steady in November but was still well above policymakers’ two percent target.

The bank began hiking rates from below zero in March last year as figures signaled an end to the country’s “lost decades” of stagnation, with inflation surging.

However, the dollar jumped about 1.3 percent following comments from BoJ governor Kazuo Ueda that left some traders wondering about what comes next.

“Cautious comments on the rate outlook from BoJ Governor Ueda at his press conference have undercut the yen.” said a note from Scotiabank.

Russia’s central bank said it was cutting its benchmark interest rate to 16 percent as the country’s economy sags under the financial burden of the Ukraine offensive and Western sanctions.

The Bank of England cut rates Thursday, when the European Central Bank left eurozone borrowing costs unchanged.

Shares in Oracle jumped nearly seven percent after TikTok said it had signed a joint venture deal with investors that would allow the company to maintain operations in the United States.

The deal will see Oracle take a 15-percent stake in the joint venture with private equity fund Silver Lake and Abu Dhabi-based MGX, an Emirati state-owned investment fund for artificial intelligence technologies.

But Nike tumbled 10.5 percent after reporting lower quarterly earnings as the sports giant continues to be dogged by poor sales in China.

Mridha Shihab Mahmud is a writer, content editor and photojournalist. He works as a staff reporter at News Hour. He is also involved in humanitarian works through a trust called Safety Assistance For Emergencies (SAFE). Mridha also works as film director. His passion is photography. He is the chief respondent person in Mymensingh Film & Photography Society. Besides professional attachment, he loves graphics designing, painting, digital art and social networking.
No Comments