June US Rate Cut Rumors Resurface, Fueling Market Rally in Stocks, Gold, and Coins

by

Powell's upbeat comments on “softening US inflation” saw New York's three main indexes hit all-time highs; US Micron up 18.2% after hours

US Federal Reserve Chairman Jerome Powell holds a press conference US Federal Reserve Chairman Jerome Powell on the 20th (local time). On this day when President Powell said: “Downtrend continues,” New York's three major stock market indexes hit all-time highs. Washington = AP Newsis

“US inflation continues to decline” (US Federal Reserve Chairman Jerome Powell)

“High Bandwidth Memory (HBM) is a miracle technology” (Nvidia CEO Jensen Huang)

The global financial market was shaken by the words of the two giants who control the global economy and artificial intelligence (AI) ecosystem. While Federal Reserve Chairman Powell and CEO Hwang continued to make announcements that sent positive signals to the market, the three major US New York stock market indexes broke their all-time highs on the 20th (local time). 2 years and 5 months have passed since November 2021.

The Korean and Japanese stock markets also reacted sharply. The KOSPI ended trading at 2,754.86 on the 21st, breaking above the 2,750 mark for the first time in 23 months since April 2022, based on the closing price. The average share price of the Nikkei 225 (Nikkei Index), a representative index of the Japanese stock market, also hit a 17-day all-time high on positive tailwinds from the US stock market. The “Rally of Everything” took place, during which the prices of all assets rose, including gold and Bitcoin. A US Wall Street official analyzed. “Chairman Powell led the market's optimism by raising expectations for rate cuts amid a strong U.S. economy, and CEO Hwang predicted the arrival of a new economy driven by explosive artificial intelligence.”

● Market turns to “likely contraction in June”

On this day, the Federal Reserve froze its benchmark interest rate at 5.25-5.50% at the Federal Open Market Committee (FOMC) and announced the “Summary of Economic Outlook (SEP)”, which contains the Fed's quarterly economic forecasts. The average interest rate at the end of the year was 4.6% (4.5-4.75%), according to the dot chart, which received a lot of attention, the same as forecast last December, suggesting three cuts of 0.25 percentage points. each during the year.

Although the rate of US Consumer Price Index (CPI) growth exceeded market expectations in January and February, the Federal Reserve maintained its previous forecast. Regarding the latest figures, President Powell said: “It's a bumpy road to the 2% inflation target,” but “the overall story doesn't change.”

Global stock markets rose as they weighed on expectations that the Federal Reserve's first rate cut since the FOMC would take place in June. The Standard & Poor's (S&P) 500 index rose by 0.89% today, surpassing the 5200 mark for the first time. The Dow Jones Industrial Average rose 1.03% and the Nasdaq Composite Stock Index rose 1.25%, with all three major indexes surpassing their highs. The influence of the US stock market continued in Korea and Japan. According to the Korea Stock Exchange, KOSPI closed trading at 2,754.86 points, increasing by 64.72 points (2.41%) compared to the previous day. Foreigners and institutions each made net purchases of more than 1 trillion won, driving the index higher. The KOSDAQ also closed at 904.29 points, up 1.44%. The Nikkei index also closed at 40,815 yen, up 2.03% from the previous day. Despite the first rate hike in 17 years, the stock market is strong and the yen is trending higher (yen lower).

● Semiconductor stocks soar on AI spring wind

The spring wind of AI-based semiconductors is also a major reason for the stock market's rise. As CEO Hwang praised HBM's growth potential yesterday, saying, “Samsung Electronics and SK Hynix grow with us,” the stock price rose for two consecutive days. Samsung Electronics rose 3.12% on the 21st to end trading at 79,300 won, after rising 5.63% the previous day. SK Hynix also increased by 8.63% compared to the previous day.

In particular, after saying that Samsung's 5th generation HBM, the “HBM3E” is “under review”, he directly visited the Samsung showroom for NVIDIA's developer event “GTC 2024”. : Here he wrote “Jensen Approved” and signed the actual HBM3E.

Micron, a leading U.S. memory semiconductor company, saw its share price rise 18.2% on strong performance in its fiscal second quarter (November 2023-February 2024) compared to by 57%. compared to the same period last year.

As the US Federal Reserve took a softer-than-expected stance, a rate cut by the Bank of Korea for the year was also on the horizon. It is believed that if the US cuts interest rates in June, as expected, the Bank of Korea is likely to begin discussions on cutting interest rates immediately.

New York, San Jose = Correspondent Kim Hyun-soo kimhs@donga.com
Tokyo = Correspondent Lee Sang-hun sanghun@donga.com
Reporter Lee Dong-hoon dhlee@donga.com

In “Dove Powell”… The Korean Economy soars with the Stock Market, Gold, and Coins

by

input
correction
surfaceA1:

The Fed is on track for a “3rd rate cut” this year
The three major US indices and the Nikkei are at all-time highs.

< "How long after this?"... KOSPI tops 2,750 > The KOSPI rose 2.41% on the 21st to surpass 2,750 for the first time in 23 months. The KOSDAQ index rose by 1.44%, surpassing the 900 level for the first time in six months. The “all-things rally” took place as major Asian stock markets showed strong performance and even gold, commodities and cryptocurrencies rose. Dealers smile in the newly built dealing room at Hana Bank's main branch in Euljiro, Seoul. / Reporter Bemjoon Kim

The KOSPI index exceeded 2750 for the first time in 23 months. The KOSDAQ index exceeded 900 for the first time in six months. As the three major US stock market indexes simultaneously hit record highs, major Asian stock markets, including Korea, also posted highs. The so-called “Rally of Everything” was revealed, during which the prices of gold and commodities rose and the prices of cryptocurrencies quickly recovered.

On the 21st, the KOSPI index closed at 2754.86 points, increasing by 2.41% compared to the previous day. Foreigners and institutions each made more than 1 trillion won in net purchases. The KOSDAQ index closed at 904.29 points, an increase of 1.44%.

As the US Central Bank (Fed) held a regular meeting of the Federal Open Market Committee (FOMC) on the 20th (local time) and froze the base rate, maintaining the forecast of three rate cuts during the year, that uncertainty eased. was raised spread over the market. The US Dow Jones index (1.03%), the S&P 500 index (0.89%), the Nasdaq index (1.25%) and the Japanese Nikkei index reached record highs. Due to the expectations of reduction of interest rates, the value of the dollar has also decreased by the largest volume this year. The won-dollar exchange rate closed at 1,322 won and 40 won, down 17 won and 40 won from the previous day.

A major player in the global rally that day was semiconductors. US Micron surged 18% in after-hours trading after posting a better-than-expected performance.

In Korea, semiconductor majors Samsung Electronics and SK Hynix led the gains with gains of 3.12% and 8.63% respectively. In the Asian stock markets, only China showed weakness on this day.

“80,000 Electronics” is close due to sudden buying of foreign semiconductors
KOSPI increased due to Pigeon Powell

Foreigners have acquired semiconductor stocks such as Samsung Electronics and SK Hynix. While the leading stocks were in action, the KOSPI rose more than 2% to settle at 2,750. In particular, the value of Samsung Electronics shares reached about 80 thousand won. This is the result of a combination of US monetary policy uncertainty and expectations of increased supply from Nvidia.

○Foreigners are sweeping for the second day

On the 21st, the KOSPI index closed at 2754.86 points with an increase of 2.41%. It has been about 23 months since April 5, 2022 that the KOSPI index exceeded the 2750 level. The previous day's resolution of concerns about the US central bank's (Fed) rate cut delay had an impact. Expectations of a global semiconductor boom also played a role. On the 20th, after positive remarks from Nvidia CEO Jensen Huang about Samsung Electronics and SK Hynix, Micron announced performance and guidance (its expectations) that exceeded market expectations.

Accordingly, Samsung Electronics and SK Hynix, which were ranked first and second by market capitalization in the stock market, rose to lead the index. Samsung Electronics rose 3.12% to end trading at 79,300 won, surpassing the 80,000 Electronics mark. SK Hynix had a bigger growth. It rose 8.63% to recover to 170,000 won.

Foreigners and institutions each bought more than 1 trillion won worth of stocks. On this day, foreigners made net purchases of 1.8782 trillion won on the stock exchange. It is the highest since February 2 (KRW 1.9344 trillion). Foreigners made a net purchase of 853.8 billion won the previous day. Foreigners also bought KOSPI 200 futures worth 1.6164 trillion won. Expectations that the KOSPI index would rise further were reflected. Institutions also bought 1.0525 trillion KRW in the stock market on the day, surpassing the highest level since Dec. 20 (1.1549 trillion KRW). Foreigners and institutions mainly bought Samsung Electronics and SK Hynix. Samsung Electronics (KRW 1.0649 trillion) and SK Hynix (KRW 393.7 billion) bought by foreigners on the day accounted for 77.65% of the total net buying in the stock market. Individual investors sold shares worth 2.911 trillion won, marking the biggest net sale since 1998.

○ Will the KOSPI index exceed 2800?

Securities industry experts believe that the domestic stock market will continue to grow, focusing on the semiconductor industry, which is expected to recover performance for now.

Mirae Asset Securities researcher Kim Seok-hwan explained. “Interest in the internal memory semiconductor industry is expected to continue, which is expected to increase sales and improve earnings.” Researcher Jion Han of Kiwoom Securities says: “Following economically sensitive stocks such as power equipment, shipbuilding, refining and chemicals, which have strengthened since last week, stocks such as semiconductors and secondary batteries, as well as small and midcaps, are rising. Stocks of semiconductor equipment are expected to gain upward momentum.”

Opinions were also voiced that it will not be easy for the KOSPI index to break the limit of 2800. That's because next month's corporate first-quarter earnings announcement and the US consumer price index (CPI) announcement for March could act as variables.

On this day, the KOSDAQ index closed at 904.29 points, an increase of 1.44%. Based on the closing price, it crossed the 900 line for the first time since September 11 last year (912.55).

Reporter Eun Yoon/Heonil Lee youngmoney@hankyung.com

Bitcoin Surpasses 100 Million Once Again… Must-See Tips “Right Now” (Written by Taemin Oh, Part 1) – Moneyola_KBS

by

  1. Bitcoin Crosses 100 Million Again… What You Shouldn't Miss “Right Now” (Writer Taemin Oh, Part 1)Moneyola_KBS:
  2. TD Cowen raises NVIDIA target to $1,100Korean economy
  3. NVIDIA Grows 260% in One Year, Bitcoin Surpasses 100 Million, What's Next? (ft. Lee Seon-yeop) (Economic Freedom Hall)nate news:
  4. NVIDIA ETF 6:1 split, next for NVIDIA stock. By Investing.comInvesting.com:

OPINION: Alaska's future is energy diversity

by

By: Cliff Grow

Updated, 16:00 minutes ago Published: 16:00 minutes ago

The Torrillo Mountains rise behind wind turbines on Fire Island, Monday, Jan. 22, 2024, as seen from Anchorage Hillside. (Lauren Holmes/ADN)

Energy joined education and a comprehensive fiscal plan as a key issue facing the Legislature. Southcentral Alaska is facing a looming energy shortage that will drive up costs for ratepayers, including every household, business, school and local government. These higher costs will flow out of Anchorage and into the entire state.

To address our urgent energy crisis, Governor Mike Dunleavy has approved an “all of the above” strategy. I introduced House Bill (HB) 349 to address the Governor's call to action. I am proposing this bill to help create more energy options for our state and to set the rules of the road to help investors bring more energy to Alaska.

The private sector is already developing renewable energy projects on public land. Renewables are expected to start contributing more than 120-150 megawatts of electricity to the grid by 2027. But currently, public lands leased for renewable energy projects are treated differently than for oil and gas production, creating barriers to additional energy development.

HB 349 creates a uniform policy environment for energy by providing the same statutory tools for renewable energy projects that we currently have for oil and gas development. A level playing field creates an attractive environment for private investment that will bring more producers into the market to bring more energy and lower prices to Alaskans.

The legislation will enable better use of our public lands to solve our energy crisis and potentially find new sources of revenue. HB 349 would not solve our energy crisis on its own, but with zero projected fiscal impact, this is a no-cost, big-payoff bill.

To meet this energy challenge, we need to think broadly and creatively. Resource extraction will always be in the picture, but oil and gas alone cannot save us. Alaska needs all types of energy, including oil and gas and renewables such as wind, hydro, solar, tidal, geothermal and biomass. If we can solve our energy crisis today, we can tell the world that Alaska is a good place to produce all kinds of energy.

Cliff Grow represents House District 18, which includes all of Government Hill; Most of the Elmendorf Richardson (JBER) Joint Base; and the northernmost parts of Muldoon, Downtown, Fairview, and Mountain View. First elected in 2022, he is a freshman member of the Alaska House Coalition (also called the House Minority Caucus) and a lifelong Alaskan.

The views expressed here are those of the writer and are not necessarily endorsed by the Anchorage Daily News, which welcomes a wide range of views. To submit the card for discussion comment (at)adn.com. Submit submissions shorter than 200 words letters@adn.com: or click here to submit using any web browser. Read our complete guidelines for emails and comments here.

The US Warm Weather Boosts Our Stock Market, Especially Semiconductor Stock Prices

by

  1. Our stock market also rose due to warm weather from the US leading semiconductor stock prices / YTNYTN:
  2. As Samsung Electronics Rises, All-Time 'Export' Occurs… 3 Trillion Ants DumpedKorean economy
  3. KOSPI exceeded 2750 points in 2 years, Samsung Electronics by 3%, SK Hynix by 8%.business position
  4. (KOSDAK) 904.29 (market close), up 12.84p (1.44%)Unique news
  5. Fed nailed the “pivot”… KOSPI crosses 2750 in 2 yearsSeoul Economic Daily

Suseo-Dongtan GTX Opens for First Time in 30 Days, One-Way Fare Up to 4,450 Won (2024.03.21/News Desk/MBC) – MBCNEWS

by

  1. Suseo-Dongtan GTX Opens For The First Time In 30 Days, One-Way Fare Up To “4,450 Won” (2024.03.21/News Desk/MBC)MBCNEWS:
  2. “Would office workers be excited to ride the dream train?” They say that you can ride the metro for a price.Mail Business newspaper
  3. The GTX-A Suseo-Dongtan section won 4,450… When using the K Pass, it costs about 3,000 won.Korean politics portal korea.kr
  4. GTX-A will finally be unveiled for the first time on the 30th. What are the changes in Suseo Station and how to use it?Seoul in my hands
  5. Arrived after listening to five GTX “Dongtan~Suseo” songs… “It's sad to have a break between trains”Korean economy

“A Trustworthy Company Failed to Complete the Job, Seeking Damages and Entering Legal Battle” – ZUM News

by

(Seoul = News 1) Reporter Park Seung-hee = A lawsuit seeking damages has been filed against a real estate trust company that promised investors that the construction company would complete construction at its own risk.

According to the financial investment industry on the 21st, the creditors of the logistics center construction project in Wonchang-dong (Incheon), consisting of pension funds and securities companies, filed a lawsuit against Shinhan Asset Trust for damages. the company, on the 8th of last month.

The lender sued the trust company for breach of its obligation to complete the responsible completion of the logistics center in relation to the managed land trust. The total amount of damages presented by creditors is 57.5 billion won. The return of the loan principal and interest was requested from the developer, the construction company and the general director of the construction company.

S-1 Construction planned to complete the logistics center by the end of last year, but was unable to complete construction on time due to rapidly rising material and labor costs. The lenders have reportedly asked the trust company, which had promised completion responsibility, to repay the principal and interest on their behalf and complete the construction and sale. However, the industry predicts that the trust company will only cover late interest.

A responsible completion type trust project supports PF loans on behalf of small and medium-sized construction companies with low credit ratings by pledging the trust company to fulfill the lenders responsibly. It has attracted attention as a high-income business, as it has been possible to collect about 2% of the total cost of the project as a commission.

However, due to the downturn in the real estate market, there is a high possibility that trust companies engaged in related businesses will be caught up in lawsuits, as in the case of Shinhan Asset Trust. As the number of small and medium-sized construction companies that failed to withstand the market downturn and went bankrupt increases, some predict that claims for damages may spread to business sites such as offices, knowledge centers and logistics centers. the country where reliable companies have committed to complete the construction.

Shinhan Asset Trust official said. “Despite the completion deadline, we will fulfill our responsibility to complete.”

seunghee@news1.kr:

Copyright ⓒ News1. All rights reserved. Unauthorized reproduction, redistribution and use of AI training is prohibited.

The categories of this article follow the media classification.

The category the article belongs to is classified by the media company.
News organizations may classify an article into two or more categories.

Significant energy. diversifying into the energy future – March 21, 2024 at 11:33 am EDT

by

(via NewsDirect)

Significant energy (ASX:PRM) CEO and Managing Director Alex Parks joins Proactive’s Stephen Gunnion and details how the company is expanding its position in the global energy market.

It Perth, Australiabased company has a diversified portfolio that includes oil and gas projects primarily in the US as well as underground salt cavern storage ventures. Australiaand a uranium recovery program Kazakhstan Through investment in startup company Umine.

The company is actively seeking cooperation to develop its major Big Apple gas prospect in Armenia Gulf of Mexico and a small oil project Louisianaaiming to transition to a low-carbon future.

It invested in Ecossaus, a pre-IPO company focused on developing salt caverns for hydrocarbon or hydrogen storage, and took a 20% stake in Umine, which aims to recover uranium reserves left over from Soviet times. Kazakhstan.

recent capital increase $1.55 million will further support these initiatives, particularly the development of the Big Apple gas prospect in Armenia Gulf of Mexico.

Prominence Energy’s: the strategy reflects the fusion of developing traditional energy resources while positioning for the future energy transition.

diversification into an energy future

by

Prominence Energy (ASX:PRM) Managing Director and CEO Alex Parks joins Proactive’s Stephen Gunnion and details how the company is expanding its position in the global energy market.

The Perth, Australia-based company has a diversified portfolio that includes oil and gas projects primarily in the US, as well as underground salt cavern storage ventures in Australia and a uranium recovery project in Kazakhstan through an investment in startup Umine.

The company is actively seeking partnerships to develop its major Big Apple gas prospect in the Gulf of Mexico and a small oil project in Louisiana with the goal of transitioning to a low-carbon future.

It invested in Ecossaus, a pre-IPO company focused on developing salt caverns to store hydrocarbons or hydrogen, and took a 20% stake in Umine, which aims to recover Kazakhstan’s Soviet-era uranium reserves.

The recent $1.55 million capital increase will further support these initiatives, particularly the development of the Big Apple gas prospect in the Gulf of Mexico.

Prominence Energy’s strategy reflects the fusion of developing traditional energy resources while positioning itself for the future energy transition.

Why everything isn’t going as planned after the US allegedly gave Samsung 8 trillion won / SBS 8 News – SBS News

by

  1. They say that the US owes Samsung 8 trillion won… Why is everything not so good / SBS 8 NewsSBS News
  2. Endless competition between US-Japan-EU-China semiconductor subsidies… Korea can't even open its mouth (Editorial)Donga Ilbo
  3. China slams massive US subsidies for Intel, Samsung and TSMC for 'blatant discrimination';Unique news
  4. Biden visited Arizona, the battlefield. “American semiconductors are reborn after 40 years”Mail Business newspaper
  5. Intel and Micron Attack…Sandwich Crisis Samsung ElectronicsToday