Markets
News
Analysis
User
24/7
Economic Calendar
Education
Data
- Names
- Latest
- Prev
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
A:--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
--
F: --
P: --
--
F: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
--
F: --
P: --
No matching data
Latest Views
Latest Views
Trending Topics
To quickly learn market dynamics and follow market focuses in 15 min.
In the world of mankind, there will not be a statement without any position, nor a remark without any purpose.
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Top Columnists
Enjoy exciting activities, right here at FastBull.
The latest breaking news and the global financial events.
I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.
BeingTrader chief Trading Coach & Speaker, 8+ years of experience in the forex market trading mainly XAUUSD, EUR/USD, GBP/USD, USD/JPY, and Crude Oil. A confident trader and analyst who aims to explore various opportunities and guide investors in the market. As an analyst I am looking to enhance the trader’s experience by supporting them with sufficient data and signals.
Latest Update
Risk Warning on Trading HK Stocks
Despite Hong Kong's robust legal and regulatory framework, its stock market still faces unique risks and challenges, such as currency fluctuations due to the Hong Kong dollar's peg to the US dollar and the impact of mainland China's policy changes and economic conditions on Hong Kong stocks.
HK Stock Trading Fees and Taxation
Trading costs in the Hong Kong stock market include transaction fees, stamp duty, settlement charges, and currency conversion fees for foreign investors. Additionally, taxes may apply based on local regulations.
HK Non-Essential Consumer Goods Industry
The Hong Kong stock market encompasses non-essential consumption sectors like automotive, education, tourism, catering, and apparel. Of the 643 listed companies, 35% are mainland Chinese, making up 65% of the total market capitalization. Thus, it's heavily influenced by the Chinese economy.
HK Real Estate Industry
In recent years, the real estate and construction sector's share in the Hong Kong stock index has notably decreased. Nevertheless, as of 2022, it retains around 10% market share, covering real estate development, construction engineering, investment, and property management.
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
View All
No data
Not Logged In
Log in to access more features
FastBull Membership
Not yet
Purchase
Log In
Sign Up
Hongkong, China
Ho Chi Minh, Vietnam
Dubai, UAE
Lagos, Nigeria
Cairo, Egypt
White Label
Data API
Web Plug-ins
Affiliate Program
Focus today is on the ECB meeting, where we expect the ECB to deliver yet another rate cut of 25bp, bringing the deposit rate to 3.25%.
Focus today is on the ECB meeting, where we expect the ECB to deliver yet another rate cut of 25bp, bringing the deposit rate to 3.25%. Our expectations are supported by the recent weaker-than-anticipated growth indicators, as well as a decline in inflation. We expect that the ECB sticks to the ‘meeting-by-meeting’ and ‘data dependent’ approach that it has been following in the past few quarters. Ahead of the meeting, we receive the final HICP inflation data, which will allow us to see how the LIMI measure of domestic inflation fared in September, which is an important input for the ECB.
US September retail sales and industrial production data as well as the weekly jobless claims are due for release in the afternoon. Retail sales will provide the markets with the latest hard evidence of the strength of the US consumer. Initial jobless claims from the week ending 12 October will for the first time include the impact of Hurricane Milton, which likely distorted the data upwards especially in Florida.
The Central Bank of Turkey will announce their rate decision after their monetary policy meeting. Markets consensus is an unchanged decision of 50%.
Overnight we get, the September inflation in Japan. The figure likely declined sharply from 2.8% in August as an early Tokyo release also indicated. BoJ’s preferred measure of inflation (CPI excl. fresh food) stood at 2.8% in August and should remain above the 2%-target. Core price pressures have largely aligned with 2% inflation recently and with the October yen slide in mind, we still see an opening for another BoJ hike in either December or January after the dust has settled upon the general election on 27 October.
Tomorrow morning at 4:00 CET, China releases its monthly data on home sales, house prices, retail sales, industrial production etc. as well as Q3 GDP data. We expect it to still paint a weak picture of China highlighting the need for the increased stimulus we are now seeing.
What happened overnight
In Japan, trade figures for September came in lower than expected with exports at -1.7% y/y (cons: 0.5%), and imports at a small rise of +2.1% y/y (cons: 3.2%).
In China, it was announced that they are expanding their “white list” of housing projects eligible for financing, and increasing bank lending for these developments to USD 562bn from USD 313bn, according to Housing Minister Ni Hong. These initiatives are part of efforts to stabilize a sector that has faced a crisis since 2021, impacting the broader economy.
What happened yesterday
In the UK, inflation surprised sharply to the downside with headline at 1.7% (cons: 1.9%, prior: 2.2%), core at 3.2% (cons: 3.4%, prior: 3.6%) and services at 4.9% (cons: 5.2%, prior: 5.5%). This means that Q3 service inflation stands at 5.2%, which is notably lower than the BoE forecast at 5.6% from the August MPR. The decline was broad-based across categories with core services easing. The downside surprise should give the BoE more confidence that underlying inflationary pressures are easing and by extension, make a November cut a done deal. Going forward, we forecast the BoE will maintain its gradual approach delivering quarterly cuts until next year, where we expect a cut at every meeting for the first half of the year, leaving the Bank Rate at 3.25% at year-end 2025.
FI: Yesterday’s decline in rates with very limited volatility was mostly a waiting game ahead of this week’s big event, namely today’s ECB meeting. The initial rally was supported by a benign UK inflation report. The 10y German point drifted 3bp lower to 2.18%.
FX: The Scandies had a poor session yesterday amid USD strength and US asset markets outperforming European equivalents. EUR/NOK rose close to 11.89 before trimming gains while the initial SEK losses kept EUR/SEK above 11.40 also during the US hours. EUR/USD continues to grind lower while GBP only partly erased losses following lower-than-expected UK CPI figures. USD/JPY continues to trade just below the 150-mark.
The European Central Bank is widely expected to cut its key policy rate at its meeting on Oct. 17, and the U.S. Federal Reserve will likely follow suit when it convenes on Nov. 6-7.
With easing cycles underway, investors are increasingly debating how low interest rates will have to go to not only stave off serious economic slowdowns but also stabilise increasingly troubling national debt burdens.
In recent years, monetary policy wonks have focused considerable attention on “r-star,” the real risk-free rate at which inflation remains on target in an economy operating at full capacity.
The problem is that policymakers can’t accurately determine what r-star is. For example, the New York Fed offers two separate estimates – 1.2% and 0.7% – based on whether it employs its pre-pandemic methodology or its new approach that accounts for pandemic-related disturbances.
Policymakers may therefore be happy to know that they now have access to a more comprehensive rate threshold that – at least in theory – can be calculated with greater ease than the notoriously elusive r-star. But they might not be pleased with the implications.
A team from the IMF recently introduced the concept of “fiscal r-star”, the real interest rate required to keep national debt levels stable when an economy is growing at potential and inflation is on target.
The researchers posit that sustained real interest rates above fiscal r-star will cause a government’s debt-to-GDP ratios to continue growing unless the country reduces its deficit and starts living within its means. GDP growth alone simply can’t offset this trend. While central banks could theoretically let inflation drift above target to inflate away debt, that’s not a viable option for policymakers seeking to maintain credibility.
This wasn’t a concern in industrial economies for much of the last century because, with the exception of wartime periods, debt levels were low enough that they could be sustained despite often high interest rates.
Since the 1980s, however, debt levels in advanced economies have ballooned. And monetary policy rates have thus been above the fiscally sustainable level more often than not. Today, the gap in the U.S. is the widest it’s been since the early 1980s, and in Europe it’s the largest in three decades.
This means governments on both sides of the Atlantic could be facing a period of rapid growth in their debt-to-GDP ratios unless they become more fiscally responsible.
Based on current consensus projections for eurozone budget deficits and GDP growth, the ECB’s policy rate would have to drop to about 2.0% in the next three to five years to stabilise debt levels. This seems achievable given that the ECB’s deposit rate is currently 3.5%.
Also, Europe’s stability mechanism should force countries like France and Italy to rein in their excessive deficits. However, Paris and Rome have sought to soften these restrictions, so the road to fiscal stability could be bumpy.
The situation is more concerning in the U.S. The fed funds rate would have to drop below 2.5% to stop the country’s debt-to-GDP ratio from rising, again based on current consensus expectations for budget deficits and GDP growth. Neither Fed projections nor rates markets expect the central bank to cut below 3.3% in the next three years.
Additionally, the 2.5% figure assumes there will be no additional unfunded deficit spending in the next decade – an unlikely scenario given the promises coming from both candidates in the current U.S. presidential race.
Under a second Donald Trump administration, another $1.3 trillion could be added to the deficit in the next ten years, according to the nonpartisan Tax Foundation, or far more if Trump’s proposed tariffs fail to generate some $4 trillion without curbing growth. Meanwhile, the Foundation estimates that Democratic candidate Kamala Harris’ tax plans could lead to additional borrowing around $1.7 trillion.
Add to all this the conclusions of a new paper that caused a stir at the recent Jackson Hole Economic Symposium. In it, researchers argue that, for the first time in the post-WWII era, investors have begun demanding a substantial, rising risk premium to hold U.S. Treasuries in response to unfunded deficit spending.
True, some Treasury officials countered that the premiums seen since the pandemic reflect uncertainty more than concern about deficits. But the study’s authors have additional research suggesting their hypothesis regarding the market response to unfunded spending holds, albeit more modestly, as far back as 1997.
These dynamics could put the Fed in a jam. If inflation doesn’t settle below 2% or begins to creep upward, the Fed would need to have the ability to hike – otherwise it risks losing credibility. But if interest rates don’t fall below fiscal r-star, the U.S. debt burden could spike, potentially creating a vicious cycle if investors begin demanding increasingly more compensation to hold Treasuries. That, in turn, could put pressure on interest rates globally.
So even though the Fed, ECB, and others may be poised to cut interest rates in the short-term, this may not translate into lower long-term bond yields, which could make the fiscal situations in these economies a whole lot worse.
The European Central Bank is likely to lower interest rates again on Thursday, arguing inflation in the euro zone is now increasingly under control and the economy is stagnating.
The first back-to-back rate cut in 13 years would mark a shift in focus for the euro zone's central bank from bringing down inflation to protecting economic growth, which has lagged far behind that of the United States for two years straight.
The latest economic data is likely to have tilted the balance within the ECB in favour of a rate cut, with business activity and sentiment surveys as well as the inflation reading for September all coming in slightly lower than expected.
In the wake of the releases, a number of ECB speakers including President Christine Lagarde have flagged that a fresh cut in borrowing costs is likely this month, leading investors to fully discount the move.
"The trends in the real economy and inflation support the case for lower rates," Holger Schmieding, an economist at Berenberg, said.
A quarter-point cut on Thursday would lower the rate that the ECB pays on banks' deposits to 3.25% and money markets almost fully price in three further reductions through March 2025.
Lagarde and colleagues are unlikely to drop clear hints about future moves on Thursday, repeating their mantra that decisions will be made "meeting by meeting" based on incoming data.
But most ECB watchers think the die is cast for cuts at every meeting.
"The implicit signal is likely to be that another cut is very likely in December unless the data improve," Paul Hollingsworth, an economist at BNP-Paribas, said.
The ECB can finally claim it has all but tamed the worst bout of inflation in a generation.
Prices grew by just 1.8% last month. While inflation may edge above the ECB's 2% target by the end of this year, it is expected to hover around that level or even slightly lower for the foreseeable future.
Yet the economy has had to pay a high price for that.
High interest rates have sapped investment and economic growth, which has struggled for nearly two years. The most recent data, including about industrial output and bank lending, is pointing to more of the same in the coming months.
An exceptionally resilient labour market is also now starting to show some cracks, with the vacancy rate - or the proportion of vacant jobs as a share of the total - falling from record highs.
This has fuelled calls inside the ECB for easing policy before it is too late.
"Now we face a new risk: undershooting target inflation, which could stifle economic growth," Portuguese central banker Mario Centeno said recently. "Fewer jobs and reduced investment would add to the sacrifice ratio already endured."
The issue is that some of that weakness is due to structural problems, such as the high energy costs and low competitiveness hobbling Europe's industrial powerhouse, Germany.
These cannot be fixed through lower interest rates alone although they can help at the margin by making capital cheaper.
"We cannot ignore the headwinds to growth," ECB board member Isabel Schnabel said. "At the same time, monetary policy cannot resolve structural issues."
Malaysia’s sovereign bonds and currency are poised to rebound on robust economic indicators and expectations for fiscal discipline in the upcoming budget, investors said.
Prime Minister Datuk Seri Anwar Ibrahim’s spending plan, which is set to be released on Friday (Oct 18), will likely show a lower budget deficit ratio of 3.9% from its 2024 target of 4.3%, and result in “slightly” reduced supply of bonds next year, according to a note by Malayan Banking Bhd .
Meanwhile, foreign direct investments continue to be a “positive” story and recovery in exports and tourism supports growth, said Anders Faergemann, a senior portfolio manager at PineBridge Investments in London. The nation’s bonds may provide “positive returns over the next three- to six months,” he said. “We see more upside in Malaysia.”
The brewing optimism may be a sign that investors are scouring for local drivers that would spur a rebound, despite the recent selloff in local assets, triggered by global tensions and the US Federal Reserve’s pivot to easing.
After inflows of over US$1 billion (RM4.31 billion) in July and August, Malaysian debt saw net outflows of US$155 million last month, according to Bloomberg-compiled data. Yields on the nation’s 10-year bonds are up seven basis points this month to 3.79%.
The ringgit has fallen about 4% against the dollar this month. The currency has been hit by uncertainties around geopolitics and the US election that are boosting the dollar, said Prashant Singh, senior portfolio manager at Neuberger Berman Group LLC.
“We do not view this as an idiosyncratic issue for Malaysia, and still expect Malaysia to be one of the more robust economies in the region,” he said.
Investors will also get a snapshot of Malaysia’s growth on Friday, when third quarter gross domestic product (GDP) data is released. Economists in a Bloomberg survey expect the pace of growth to ease only slightly from 5.9% in the second quarter, which was the fastest clip in 18 months.
NCT Group of Companies, via its subsidiary NCT Land Sdn Bhd, has partnered with the Selangor Information Technology and Digital Economy Corp (Sidec) to digitalise and support growth of the 732-acre NCT Smart Industrial Park (NSIP) in Sepang, Selangor.
The two parties signed the partnership agreement at the Selangor Smart City and Digital Economy (SDEC) 2024 on Wednesday. It was witnessed by Selangor executive councillor of investment, trade and mobility Ng Sze Han, Selangor Menteri Besar Datuk Seri Amirudin Shari, and Deputy Digital Minister Datuk Wilson Ugak Anak Kumbong.
The partnership includes business matchmaking sessions, where NCT Group and Sidec will actively connect local and international companies to create new collaborations aimed at driving investments for the sustainable long-term growth of the NSIP.
Meanwhile, the digital transformation plans by Sidec will complement the NSIP’s ongoing efforts to strengthen operational efficiency and create an environment conducive to global expansion through the adoption of advanced technologies and systems.
“Making the NSIP future-ready will be beneficial for all stakeholders. Sidec’s multifaceted expertise in driving the digital economy and fostering smart city solutions makes them the ideal partner to take the NSIP to the next level. Together, we are establishing an industrial park that not only meets the infrastructure demands of businesses but also sets the standard as the country’s first tech-centric park with zero emissions by 2050,” said NCT Group founder and group managing director Datuk Seri Yap Ngan Choy in a media statement issued on Wednesday.
Meanwhile, Sidec chief executive officer Yong Kai Ping said: “The SDEC 2024 event is the perfect platform to formalise our partnership with NCT Group. As Selangor moves towards becoming a leader in digital economy and smart city solutions, this collaboration with NCT Group aligns perfectly with our vision for innovation and sustainability. The NSIP will set the standard for smart, sustainable industrial parks, and we are excited to contribute our expertise in digital transformation.”
The NSIP is taking root under the Integrated Development Region in South Selangor (Idriss) initiative. The industrial park features several infrastructures, artificial intelligence-managed facilities, smart surveillance and environmentally friendly initiatives, such as solar energy utilisation and rainwater collection systems.
The most active stock over the past few days has been Bright Minds Biosciences, which exploded more than 3,400% over the last two full trading days.
Bright Minds went from penny stock territory, trading at $1.11 per share when markets opened on Monday, to a ridiculous $38.49 per share when the market closed on Tuesday — a 3,367% increase.
The stock price rose about 124% on Monday to $2.49 per share. And then on Tuesday it really took off, rising a whopping 1,446% to close at $38.49 per share.
On Wednesday, the stock came back to earth a bit, dropping around 17% back to around $32 per share as of about 2:00 p.m. ET.
What caused this wild ride — and what should investors know about Bright Minds stock?
Bright Minds is a pharmaceutical company based in Vancouver and New York that is developing a drug, BMB-201, to treat epilepsy, depression, anxiety, and other central nervous system (CNS) disorders.
When its stock price skyrocketing on Tuesday, there had been seemingly no direct company-specific catalyst for the rally, which the company later acknowledged at the request of Canadian regulators.
In a statement, Bright Mind officials said the company “wishes to confirm that the company’s management is unaware of any material changes in the company’s operations that would account for the recent increase in market activity.”
That activity resulted in trading volume that reached more than 100 million shares on Tuesday, when it normally averages trading volume of about 2 million shares. The market cap went from about $15 million on Monday to $125 million by the end of Tuesday.
The initial Monday rally was likely sparked by a deal announced Monday in the space as Danish pharmaceutical company Lundbeck A/S said it was buying Calif–based Longboard Pharmaceuticals (NASDAQ: LBPH). Longboard is a rival to Bright Minds in that it is developing drugs for neurological diseases, also targeting 5-HT2C receptors, which are found in the brain.
This deal probably triggered the initial rally, as investors may have viewed the interest in Longboard as a potential opportunity for Bright Minds as well.
But after that, the stock became a feeding frenzy in what was likely a short squeeze that catapulted Bright Minds into the stratosphere on Tuesday.
Today, Wednesday, Bright Minds did release some news, announcing positive results from the preclinical testing of BMB-201 through the National Institute of Health pain screening program.
Specifically, it showed that BMB-201 had similar efficacy to morphine, “demonstrating superior reductions in mechanical allodynia and pain-related behaviors.” Also, in the tests, female rodents experienced “a marked improvement in both pain relief and guarding behavior, with higher doses producing a significant therapeutic effect.”
Further, the results suggest that the treatment may provide better pain relief than traditional opioid treatments, without the risks of dependency and side effects.
“These findings are a significant step forward in our mission to develop safer and more effective treatments for chronic pain,” Jan Torleif Pedersen, chief scientific officer of Bright Minds, said. “The fact that BMB-201 outperforms morphine in preclinical models is a testament to the potential of serotonergic therapies in pain management.”
Next, BMB-201 will advance to clinical trials to further evaluate its safety and efficacy in human subjects. Ultimately, Bright Minds sees the drug as a non-opioid alternative for neuropathic pain relief.
Predictably, Bright Minds stock dropped sharply today, down about 17% to around $32 per share. But it had been down more than 30% at its lowest.
While the preclinical test news would normally be a positive catalyst for the stock, after the meteoric gains of the past two days, the stock price was unsustainably high, thus the selloff.
While the drug could certainly be a game changer, it is still in the trials and testing phase. Plus, the company has little in the way of revenue and earnings, although it has enough funding to get through 2026 and complete these trials.
The stock will probably remain volatile, moving as news comes out about the development of this drug. Investors should know that any investment in this stock leading up to a drug going to market is going to be highly speculative and extremely risky, prone to wild swings both ways like a meme stock, so caution is advised.
White Label
Data API
Web Plug-ins
Poster Maker
Affiliate Program
The risk of loss in trading financial instruments such as stocks, FX, commodities, futures, bonds, ETFs and crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No decision to invest should be made without thoroughly conducting due diligence by yourself or consulting with your financial advisors. Our web content might not suit you since we don't know your financial conditions and investment needs. Our financial information might have latency or contain inaccuracy, so you should be fully responsible for any of your trading and investment decisions. The company will not be responsible for your capital loss.
Without getting permission from the website, you are not allowed to copy the website's graphics, texts, or trademarks. Intellectual property rights in the content or data incorporated into this website belong to its providers and exchange merchants.