EUR/USD
1.16741
-0.024%
Gold
4491.00
-0.704%
Oil
84.170
-0.083%
USD/JPY
158.445
0.187%
GBP/USD
1.36041
-0.009%
GBP/JPY
215.556
0.191%
Real-time News
The main fuel oil contract continued its decline, turning from gains to losses during the day, and is currently down 0.95%, last quoted at 4177 yuan/ton, after rising more than 4% earlier.On August 20th, following SK Hynixs US IPO and the subsequent plunge in AI-related stocks, the financing costs for global investors to leverage their investments in SK Hynixs Korean shares have halved in recent weeks. According to sources, several banks, including Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase, are offering clients exposure to SK Hynix through swap transactions at a premium of approximately 150 to 300 basis points above the Secured Overnight Financing Rate (SOFR). In mid-June, some banks were offering clients seeking to establish or renew SK Hynix swap contracts at rates exceeding SOFR by 1000 basis points. Since May 1st, SOFR has fluctuated between 3.50% and 3.69%. Previously, banks quoted extremely high financing rates to allocate limited quotas among clients to meet the demand for new SK Hynix swap transactions, and in some cases, even rejected client requests outright. At that time, the AI boom had driven SK Hynixs Korean shares to rise 11-fold in the 12 months ending June 22nd. As market sentiment becomes extremely bullish, banks are concerned that their portfolios are overly concentrated in these stocks, potentially driving up their financing costs in the repurchase market. Sources say that some banks that previously rejected client requests are now actively seeking new business.The European-Mediterranean Seismological Centre reports a 4.2-magnitude earthquake in Chiapas, Mexico.The Indonesian rupiah rose to 17,790 against the US dollar.According to Reuters, shipping data in the Strait of Hormuz shows that the geopolitical stalemate between the United States and Iran has not improved.
