· Traders chase sky-high returns in leveraged exchange traded products
Frenzied speculation in the shares of GameStop may have subsided, but it is business as usual in a small corner of the market where traders looking to turbocharge their gains dabble in what may be some of the market’s most volatile funds.
· ByteDance not in preliminary talks to list TikTok on NYSE: source
ByteDance is not in preliminary discussions about listing video app TikTok on the New York Stock Exchange (NYSE), a person familiar with the matter said, following a Chinese media report that talks were underway.
The Global Times, published by China’s ruling Communist Party’s official People’s Daily newspaper, said earlier on its Twitter account that ByteDance was in preliminary talks about a NYSE listing. Shortly after, it tweeted that ByteDance had denied the report.
· Stocks in Asia-Pacific were mixed in Wednesday trade as investors monitored bond yields following a recent rise.
In Japan, the Nikkei 225 slipped 0.54% while the Topix index shed 0.13%.
Japan’s exports rose 6.4% in January as compared with a year earlier, according to trade statistics released Wednesday by the country’s Ministry of Finance.
The Taiex in Taiwan surged more than 3%, with shares of Taiwan Semiconductor Manufacturing Company soaring about 5%. Hong Kong’s Hang Seng index gained 0.65%.
South Korea’s Kospi fell 1.22%. Shares in Australia were lower as the S&P/ASX 200 declined 0.32%.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.16%.
Markets in mainland China remain closed on Wednesday for the Lunar New Year holidays.Asia-Pacific stocks mixed as investors watch Treasury yields; Taiwan surges more than 3%
· Japan shares slip from 30-year high on profit booking, pandemic-hit stocks rise
Japanese shares fell on Wednesday as investors booked profits after a recent rally drove them to a 30-year high, even as pandemic-beaten shares gained on expectations for an economic recovery from a coronavirus-driven slump.
The Nikkei share average edged down 0.58% to 30,292.19 from Tuesday’s high of 30,714.52, a peak since August 1990.
The broader Topix slipped 0.18% to 1,961.49, a day after scaling its highest since June 1991.
· European markets edge lower as investors monitor rising U.S. Treasury yields
European stocks retreated slightly on Wednesday morning as investors monitor rising bond yields.
The pan-European Stoxx 600 slid 0.4% in early trade, with retail sinking 2.6% to lead losses oil and gas bucked the trend to climb 0.9%.
Some on Wall Street believe higher rates could prompt investors to rotate out of equities and into bonds, while also putting pressure on areas of the market, including tech, which have benefitted from the low-rate environment.
Stocks in Asia-Pacific were lower in Wednesday trade following the dip in the U.S. Markets in mainland China remain closed on Wednesday for the Lunar New Year holidays.
Reference: CNBC
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