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Spot gold was nearly flat at $1,896.21 per ounce by 0328 GMT. U.S. gold futures were down 0.3% at $1,902. "There'll be reluctance to sell gold at this stage because of the increasing amount of uncertainty as we head towards the U.S. presidential election," said Howie Lee, an economist at OCBC Bank....
Oct.04 -- Maxine Ryan, founder of ProsperApp, discusses the startup scene in Asia, her outlook for the sector and how her app is helping teach financial concepts to millennials in under 5 seconds. She speaks on “Bloomberg Markets: China Open.”...
(Bloomberg) -- Once one of Hong Kong’s steadiest stocks, HSBC Holdings Plc is now more than three times as volatile as the city’s benchmark. Investors are betting that will continue.Options traders in Hong Kong are pricing in a volatile October, snapping up both bullish calls and bearish puts on HSBC. The cost of one-month contracts tied to HSBC’s Hong Kong shares has climbed to near the highest since May 2009 relative to those on the city’s Hang Seng Index, according to data compiled by Bloomberg. That indicated high demand to protect against further volatility in the stock.Shares of HSBC rose 5% in Hong Kong to HK$31.30 as of 11:47 a.m. local time, paring an earlier gain of as much as 7.1%. That compared with the 1.6% rise in the benchmark Hang Seng Index.“HSBC’s shares jump today is quite a surprise,” Steven Leung, an executive director of Uob Kay Hian (Hong Kong)...
Oct.04 -- Kelvin Tay, regional chief investment officer for Asia Pacific at UBS Global Wealth Management, discusses the outlook for markets, interest rates, and the U.S. presidential election. He speaks with Haslinda Amin and Yvonne Man on "Bloomberg Markets: Asia."...
(Bloomberg) -- Daisuke Sasaki has seen his cloud-based accounting company’s valuation swell to $3.7 billion despite having yet to show a profit, but he’s not letting that pressure him.Shares of Freee K.K. have quadrupled since going public on the Tokyo Stock Exchange in December, along with rising demand for cloud services amid the remote-working trend. The stock rose as much as 1.6% Monday to a new high.“We don’t have a set timeframe for when the company will swing to profits,” Sasaki, founder and chief executive of Freee, said in an interview on Aug. 17. “Our business is about subscription.”The Tokyo-based firm’s stock is one of the many technology names that have surged during Covid-19, fueled by investor euphoria over stay-at-home and DIY themes. While the pandemic roiled the outlook for companies around the world, U.S. accounting software giant Intuit Inc. beat recent earnings estimates, helped by better-than-expected growth for its cloud-based...
