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The Hang Seng Index and Hang Seng Tech Index both widened their losses to 1%.US President Trump: We will defend American values. We will support the US military and border guards.July 4: Despite Thursdays fall, gold prices are still expected to rise this week as investors consider the reduced likelihood of a Fed rate cut and lingering concerns about the outlook for global trade. Gold prices traded around $3,330 an ounce this week, up about 1.7%. The previous session closed down 0.9% as U.S. jobs data unexpectedly rose while the unemployment rate was lower than expected. The dollar rose along with U.S. Treasury yields, putting pressure on gold prices as traders exited their already insignificant bets on a rate cut at the Feds July meeting. So far this year, Fed policymakers have kept key interest rates unchanged, citing the potential for Trumps tariff policy to exacerbate inflationary pressures. Officials also pointed to the generally stable job market as supporting their view that they do not need to rush to cut interest rates.The Hang Seng Index in Hong Kong opened on July 4 (Friday) down 169.25 points, or 0.7%, to 23,900.69 points; the Hang Seng Technology Index opened on July 4 (Friday) down 39.38 points, or 0.75%, to 5,194.33 points; the CSI 300 Index opened on July 4 (Friday) down 62.96 points, or 0.73%, to 8,585.48 points; the H-share Index opened on July 4 (Friday) down 0.66 points, or 0.02%, to 4,096.8 points.When the Hong Kong stock market opened, the Hang Seng Index opened down 0.7%, and the Hang Seng Technology Index opened down 0.75%; Xpeng Motors (09868.HK) opened down nearly 2%. Its worlds first L3-level computing AI car, Xpeng G7, was recently launched.

Bitcoin falls below $19,000 as cryptos creak under rate hike risk

Skylar Shaw

Sep 20, 2022 14:27

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On Monday, cryptocurrency prices hit new lows as a result of regulatory worries and a general investor reluctance to engage in risky assets due to impending interest rate increases.


By market value, Bitcoin, the most valuable cryptocurrency, dropped almost 5% to a three-month low of $18,387.


The second-largest cryptocurrency, ethereum, lost 3% to a two-month low of $1,285 and had lost more than 10% in the previous day. The majority of the smaller tokens had larger losses.


Over the weekend, a significant update to the Ethereum blockchain—which supports the ether token—called the Merge changed how transactions are handled and reduced energy consumption.


The value of the token has decreased amid rumors that comments made last week by Gary Gensler, chairman of the U.S. Securities and Exchange Commission, suggested the new structure would draw further regulation. The upgrades' surrounding trades were likewise unwound.


The regulatory outlook is guesswork, according to Matthew Dibb, COO of Singapore's Stack Funds cryptocurrency platform.


Since the Merge, the markets have shed a lot of their excitement, he said. Given the uneasy global background, he said, "It's truly been a sell-the-news sort of event," and predicted that ether will test $950 in the near future.


"From a basic and technological standpoint, the current situation does not appear promising. There isn't a clear quick positive trigger that will support these markets and inject a ton of fresh cash and liquidity, in our opinion.

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