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Italys FTSE MIB index rose by 1% on the day.European chip stocks rose, with ASML, Infineon, and ASM Pacific Technology all gaining between 0.6% and 2.8%.On Tuesday, June 9th, the German DAX 30 index opened down 60.32 points, or 0.24%, at 24,581.53; the UK FTSE 100 index opened down 29.31 points, or 0.28%, at 10,343.89; the French CAC 40 index opened down 19.89 points, or 0.24%, at 8,179.40; the Euro Stoxx 50 index opened up 0.36 points, or 0.01%, at 6,062.65; the Spanish IBEX 35 index opened up 29.69 points, or 0.16%, at 18,252.79; and the Italian FTSE MIB index opened up 92.37 points, or 0.18%, at 50,300.50.On June 9th, ahead of the upcoming second and third quarter inspections, a working symposium for the heads of the Central Safety Production Assessment and Inspection Teams was held in Beijing on June 8th. The meeting emphasized that during these inspections, the Central Safety Production Assessment and Inspection Teams should go directly to the sites and conduct thorough investigations. Any typical and significant accident hazards discovered in key industries such as mining, chemicals, fireworks and firecrackers, construction, fire safety, industry and trade, and special equipment should be transferred to provincial Party committees and governments, urging local authorities to organize verification and rectification, investigate accountability, and deal with the issues seriously. Special inspections on regulatory and enforcement issues should be carried out, adhering to the principle of integrated investigation and rectification, and severely punishing illegal and fraudulent activities related to safety production, as well as prominent problems such as corruption in the safety production field.Lenovo Group (00992.HK) rose more than 5%.

Crypto Market Daily Highlights: ETH and MATIC Lead the Top Ten

Skylar Shaw

Mar 02, 2023 15:47

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March got off to a positive start for the cryptocurrency market as data from China's private sector PMI drove early session demand for risky assets.


The top ten cryptocurrencies had a positive afternoon on Wednesday. The top ten crypto market rebound was headed by MATIC and ETH. The $24,000 mark was brought up by Bitcoin for the first time in five days.


China's economic statistics gave the month a positive start. Demand for risky assets increased as a result of February's private sector PMI figures that exceeded expectations. Contrary to expectations, the crucial Caixin Manufacturing PMI increased from 49.2 to 51.6. An important development was the industrial sector's first expansion since July 2022.


Gains from the early session were not rolled back by economic statistics from the US or the NASDAQ Composite Index. Although the ISM Manufacturing PMI showed that the manufacturing sector was still contracting, the sub-components backed up a more pessimistic view of Fed monetary policy. From 44.5 to 51.3, the ISM Factory Costs Index increased.


The NASDAQ Composite Index was impacted by hawkish Fed talk as well. According to reports, Fed moderate Kashkari is willing to raise interest rates by 25 or 50 basis points in March.


The NASDAQ Composite Index dropped by 0.66% on Wednesday, but the NASDAQ Mini gained 4.5 points this morning.

Bitcoin Industry Headlines

The impact of cryptocurrency market news on investor mood, however, was varied. As a result of heightened governmental monitoring, Visa (V) addressed reports that it was pausing its cryptocurrency plans.


Regarding the Reuters piece, Cuy Sheffield, Director of Crypto at Visa, stated, "This narrative is incorrect as it relates to Visa, here's the truth."


Sheffield added, "We continue to work with crypto businesses to better currency on and off transitions as well as advance on our product plan to develop new products that can enable stablecoin transfers in a safe, legal, and practical manner."


Sheffield added that Visa's opinion of the significance of blockchain-based, fiat-backed digital currencies has not changed.


Silvergate Bank reports, however, were negative for the market. The business disclosed that the submission of its yearly report had been postponed.