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Chart: Precious metals market data for Industrial and Commercial Bank of China accounts on Monday, August 24, 2026.Gold prices rose during Asian trading hours on August 24th. ING strategists stated in a report that gold prices have rebounded sharply from July lows, rising from around $4,000 per troy ounce in mid-July to approximately $4,600, returning to levels seen since May, supported by recovering investment demand and growing market anxiety about the US fiscal outlook. The strategists noted that the prospect of the US Treasury potentially expanding its bond-buying program has refocused market attention on US government borrowing and fiscal credibility. They added, "This has also reignited concerns about currency devaluation, further enhancing golds appeal as a store of value."On Monday, August 24, the Hang Seng Index opened down 229.34 points, or 0.88%, at 25,780.12; the Hang Seng Tech Index opened down 53.0 points, or 1.11%, at 4,713.16; the H-share Index opened down 84.99 points, or 0.98%, at 8,549.35; and the Red Chip Index opened down 4.37 points, or 0.1%, at 4,287.98.Hong Kong stocks opened lower, with the Hang Seng Index down 0.88% and the Hang Seng Tech Index down 1.11%; Alibaba (09988.HK) opened down 8.05% after announcing a proposed placement of HK$80 billion in new shares.On August 24th, it was learned from the Cold Chain Professional Committee of the China Federation of Logistics and Purchasing that the total demand for food cold chain logistics in the first half of the year reached 200 million tons, a year-on-year increase of 4.7%, with the growth rate accelerating by 0.3 percentage points compared to the same period last year; the total revenue of food cold chain logistics service companies was 290.18 billion yuan, a year-on-year increase of 3.7%. The penetration of new energy refrigerated trucks accelerated, and the proportion of green transportation capacity reached a new high. It is estimated that refrigerated truck sales in the first half of the year reached 42,111 units, a year-on-year increase of 42.9%; among them, sales of new energy refrigerated trucks reached 20,285 units, a year-on-year increase of 92.3%, maintaining a high-speed growth trend. The penetration rate of new energy refrigerated trucks reached 48.2%, an increase of 12.4 percentage points compared to the same period last year. The penetration rate in the second quarter rose to 54.7%, showing an accelerating penetration trend. For the first time in a quarterly dimension, the penetration rate of new energy refrigerated trucks surpassed that of traditional fuel vehicles, indicating that the greening process of cold chain transportation has entered an accelerated development stage.

Robinhood, Coinbase find sanctuary in interest income amid market rout

Cory Russell

Nov 02, 2022 16:01

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The U.S. Federal Reserve's rate increases are anticipated to increase interest revenue for bitcoin exchange Coinbase Global Inc. and commission-free brokerage Robinhood Markets Inc.


Investors paid little attention to (interest income) when rates were low and the cryptocurrency market was booming, but it is becoming essential as a source of income for Coinbase, according to Barclays analysts.


According to J.P. Morgan analysts, Robinhood's profitability would be affected by increased rates at a pace that is somewhat faster than anticipated.

the setting

Inflation, which after five rate increases this year, is still running at levels not seen in four decades, has caused central banks across the globe to scramble to chill the economy in an effort to manage it.


This has caused a startling turnabout in the fortunes of lenders who were previously under pressure from near-zero interest rates.


For those who qualify, Robinhood lets them borrow money to buy equities and adds interest to the loan.


According to analysts, the "margin investing" option, which allows users to borrow money at far lower rates than the going rate, may also be used to increase subscriptions to the premium Robinhood Gold service.


J.P. Morgan said, "We envisage Robinhood hiking rates to levels not too different from peers."


In contrast, Coinbase makes money from the reserves that support USD Coin (USDC), the second-largest stablecoin by market value that it has created in partnership with Circle.


On the loans it gives clients using bitcoin as collateral, it also makes interest.


According to IBES statistics from Refinitiv, analysts anticipate a 65% increase in net interest revenue at Robinhood, while a 28% increase in subscription and service revenue, which includes interest income, at Coinbase.


However, the businesses are also anticipated to announce a fall in total third-quarter revenue as consumers traders chose safety in cash rather than speculating on hazardous assets due to inflation.


After the bell on Wednesday, Robinhood is scheduled to release its third-quarter earnings, and Coinbase is scheduled to do the same on Thursday.

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