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The Club’s 10 things to watch Tuesday, Sept. 16 — Today’s newsletter was written by Jeff Marks, the Club’s director of portfolio analysis. 1. The S & P 500 and Nasdaq are set for a higher open this morning, aiming to extend yesterday’s gains. Both indexes closed at record highs to kick off the week. Retail sales increased 0.6% month over month in August, the Census Bureau said, exceeding expectations of a 0.2% gain. It’s the last key economic reading ahead of the Federal Reserve’s interest rate decision tomorrow afternoon. 2. Club name Amazon’s price target was increased to $270…
Gold prices rose in the European market on Tuesday, extending gains for the third consecutive session and setting a fresh all-time high, on the verge of surpassing the $3,700 per ounce barrier for the first time in history, supported by the continued decline of the U.S. dollar in the foreign exchange market. Later today, the Federal Reserve’s highly anticipated monetary policy meeting will commence, with decisions due on Wednesday. Market expectations currently remain anchored on a 25 basis-point interest rate cut. Price Overview Gold prices today: The price of the precious metal rose by 0.5% to a…
Most family offices in Asia-Pacific are bullish about their portfolios and expect decent returns this year, with interest rate cuts and advances in artificial intelligence more than offsetting tariff uncertainties, according to a Citi wealth survey released on Tuesday.More than 80 per cent of family offices in the region anticipated returns of more than 5 per cent this year, the Citi Wealth 2025 Family Office Report showed. At least 30 per cent of those surveyed expected returns of between 10 and 15 per cent, and an additional 8 per cent anticipated returns of more than 15 per cent.Asia-Pacific family offices…
Most family offices in Asia-Pacific are bullish about their portfolios and expect decent returns this year, with interest rate cuts and advances in artificial intelligence more than offsetting tariff uncertainties, according to a Citi wealth survey released on Tuesday.More than 80 per cent of family offices in the region anticipated returns of more than 5 per cent this year, the Citi Wealth 2025 Family Office Report showed. At least 30 per cent of those surveyed expected returns of between 10 and 15 per cent, and an additional 8 per cent anticipated returns of more than 15 per cent.Asia-Pacific family offices…
Prime Minister Muhammad Shehbaz Sharif has stated that the establishment of Mashreq Digital Bank will prove to be a milestone in the complete digitalisation and modernisation of Pakistan’s economy. The prime minister made these remarks while addressing the inaugural ceremony of Mashreq digital retail bank on Tuesday, the PM Office said. Prime Minister Shehbaz called digitalisation a necessity of the modern era, adding that the bank’s establishment will be a landmark for the promotion of a cashless economy and the development of the financial sector in Pakistan. He said that youth constitute a large part of the country’s population, and…
US consulting firm Alvarez & Marsal (A&M) is set to further expand its presence in China, after tripling the number of its employees in Hong Kong and the mainland over the past five years to more than 400, while quadrupling its revenue.The New York-based firm planned to increase its staff in China fivefold in the next four to five years, said James Dubow, managing director and co-head of North Asia, on Tuesday. A&M has more than 12,000 employees globally.“China has become an increasingly complex operational environment after decades of rapid growth,” Dubow said. “The pace of change, market volatility, shifting…
Gold prices rose in the European market on Tuesday, extending gains for the third consecutive session and setting a fresh all-time high, on the verge of surpassing the $3,700 per ounce barrier for the first time in history, supported by the continued decline of the U.S. dollar in the foreign exchange market. Later today, the Federal Reserve’s highly anticipated monetary policy meeting will commence, with decisions due on Wednesday. Market expectations currently remain anchored on a 25 basis-point interest rate cut. Price Overview Gold prices today: The price of the precious metal rose by 0.5% to a…
Nvidia’s RTX6000D, its newest artificial intelligence chip tailored for the Chinese market, has seen only lukewarm demand with some major tech firms opting not to place orders, two people with knowledge of procurement discussions said.The RTX6000D, designed mainly for AI inference tasks, is seen as expensive for what it does, according to the two people.They added that testing of samples showed its performance lags the RTX5090 – a chip banned by the US government for use in mainland China, but which is still readily available through grey market channels at less than half the RTX6000D’s price of around 50,000 yuan…
A Hong Kong judge on Tuesday appointed China Evergrande Group’s liquidators as receivers of the assets of company founder Hui Ka Yan, following his failure to comply with a previous order requiring him to reveal all his worldwide assets valued at more than HK$50,000 (US$6,426).“There is a total failure on the part of Hui to comply with the disclosure order,” wrote Justice Herbert Au-yeung Ho-wing in a judgment from the Court of First Instance. “There is therefore a breach of the court order.”Hui’s lawyer argued that his detention prevented him from dealing with or discussing his assets, but the judge…
A Hong Kong judge on Tuesday appointed China Evergrande Group’s liquidators as receivers of the assets of company founder Hui Ka Yan, following his failure to comply with a previous order requiring him to reveal all his worldwide assets valued at more than HK$50,000 (US$6,426).“There is a total failure on the part of Hui to comply with the disclosure order,” wrote Justice Herbert Au-yeung Ho-wing in a judgment from the Court of First Instance. “There is therefore a breach of the court order.”Hui’s lawyer argued that his detention prevented him from dealing with or discussing his assets, but the judge…