Asian Stock Market: Asian shares dribble near the multi-day top on early Friday as markets couldn’t cheer US President Biden’s first prime-time appearance amid a potential “sell the fact” trade.
Bitcoin whales have for a long time been linked to price actions in the market. When these large volume holders buy more BTC to hold, prices tend to rally. On the other hand, an exodus of the whales culminates in appreciable price drops.
The Indian rupee slumped 27 paise to 72.99 against the US dollar today in opening morning trade, weighed down by a rebound in the US dollar and lacklustre opening in domestic equities.
On Tuesday gold prices tumbled Rs 679 to Rs 44,760 per 10 grams in the national capital, due to bleak international market trend and rupee appreciation, according to HDFC Securities. The precious metal had closed at Rs 45,439 per 10 grams in the previous close.
On Thursday the stock surged to an all-time high, a rare bright spot in a down market, after the company announced lofty revenue goals. Twitter expects to increase its user base to 315 million daily active users and double its yearly revenue by the end of 2023.
On Friday Bitcoin price fell over 6% to its lowest in two weeks as a rout in global bond markets sent yields flying and sparked a sell-off in riskier assets. The world’s biggest cryptocurrency slumped as low as $44,451 before recovering most of its losses.
On Thursday Indian stocks were trading around a percent higher, extending gains from yesterday’s session, on the back of a broad-based rally across sectors. Banks, metals and pharma stocks supported the most, while FMCG stocks were under pressure.
Goldman Sachs analysts have named a dozen global stocks with a “significant upside” as coronavirus vaccines are distributed and lockdowns start to lift.
On Tuesday the Euro is inching lower after giving up earlier gains on position-squaring ahead of the testimony of Federal Reserve Chairman Jerome Powell before the Senate Banking Committee.
On Tuesday morning Tesla Inc fell as much as 10%, continuing its Monday decline after questions about its growth prospects with rival automakers entering the electric vehicle market.