Monthly Archives: March 2022
China Sees Worst Covid-19 Outbreak Since Pandemic Start
Written on March 21, 2022 at 2:34 am, by jonywang
28 of China’s 31 provinces have recently seen an outbreak of the highly-infectious Omicron variant of the coronavirus. With over 15,000 infected, this is the largest outbreak China has seen since the initial wave of the virus. The recent outbreak has hit major cities including Shanghai and Shenzhen. Dongguan city, the fifth-largest contributor to China’sContinue Reading
Gold Steadies as Fed Increases Interest Rate By Expected 0.25%
Written on March 17, 2022 at 3:12 am, by jonywang
On Wednesday, 16 March, the US Federal Reserve made the long-awaited decision to raise interest rates to combat surging inflation. As per the market’s expectations, the Fed raised rates by 25 basis points. The 0.25% rate hike was voted on almost unanimously by policymakers, except St Louis Fed president James Bullard, who voted in favour ofContinue Reading
Oil Prices Cool as UAE Pledges to Open the Taps
Written on March 10, 2022 at 7:04 am, by jonywang
After a month of rallying in response to the Russia-Ukraine conflict, oil prices have finally cooled at the combined news of Ukraine withdrawing its NATO application; and the UAE saying that it will increase oil production while encouraging its allies in the Organization of the Petroleum Exporting Countries (OPEC) to do the same. The formerContinue Reading
Chinese tech companies bullish on the metaverse
Written on March 7, 2022 at 8:32 am, by jonywang
Despite the regulatory risks, Chinese tech companies are doubling down on their bets on the metaverse, ranking in the top among companies filing for NFT and metaverse-related trademarks and patents. In 2021 and 2020, Tencent filed a total of 4085 patents while Baidu filed 3094, taking second and third places respectively behind Samsung. In China,Continue Reading
Markets Build Risk Appetite as ADP Nonfarm Exceeds Expectations
Written on March 3, 2022 at 6:59 am, by jonywang
On Wednesday, 15:15 (GMT+2), data for the February US ADP Nonfarm Employment Change was released. At 475,000, the number beat out the market estimate of 378K, although it is still lower than the previous month’s 509,000. Broken down, February’s numbers indicate a significant employment drop of 96,000 in small businesses, although overall numbers are buoyedContinue Reading
