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1141 days ago

Bank Indonesia Cuts Rates

Bank Indonesia on Thursday slashed the seven-day reverse repurchase rate by 25 basis points to 3.5%, the lowest level since the rate was introduced in 2016. The move was expected by 22 out of 29 economists surveyed by Bloomberg, while seven forecast no change. The benchmark Jakarta Composite Index reversed earlier gains, falling as much as 0.3% after the GDP forecast was lowered. The rupiah trimmed the day’s losses after the decision, down 0.1% at 14,029 to the U.S. dollar as of 2:41 p.m. local time. Source: Yahoo

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1141 days ago

Chinese stock market reaches high grounds

Thanks to Chinese Lunar New Year, restaurants picked up steam as spending was up. Interest in Chinese equities has grown on reflation expectations. The Chinese markets are much less over-valued than their American counter parts with reasonable prices set for potential growth. Source: FT

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1141 days ago

Along with share price, Baidu's December revenues grew.

Baidu's revenue for the period ending in March will be 26 billion yuan ($4 billion) to 28.5 billion yuan, compared with the 25.9 billion yuan average estimate of analysts. Sales last quarter rose 4.8%, the fastest pace in 2020, fueled by a 52% increase in its non-advertising businesses like AI cloud. Source: Bloomberg

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1141 days ago

Reflation trade is taking shape with European stocks

After strong gains since the start of the year, the bull case for Europe has now partially played out. Still, on average, the 21 strategists surveyed by Bloomberg are positive on European equities, seeing about 2% upside for the Stoxx Europe 600 Index this year, and nearly 3% for the Euro Stoxx 50, compared with Tuesday’s close. The biggest bear in the poll sees the Stoxx 600 falling less than 5%. Source: Bloomberg

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1142 days ago

The penny stock trading surge keeps going

Penny stocks are reaching an average trading volume of 100 billion, putting February on track for a total volume of 2 trillion. And we thought that passing the 1 trillion monthly trading volume in December was wild. Is this only the result of well-organized pump-and-dump operations? 

#Stocks
The penny stock trading surge keeps going
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