QtrendsAsian markets rally on optimism over a potential winding down of the Iran conflict. Gold prices remain volatile as a Hong Kong blockchain-linked low-cost gold ETF launches. Indian stocks show sharp divergence, with LIC and Delta Corp falling while Wipro gains. US inflation hits a three-year high, eroding household savings despite stock market record highs. The AI boom reshuffles global market hierarchies, with Dell surging nearly 40% on a massive earnings beat.
A low-cost gold ETF has been launched in Hong Kong, linking bullion trading with blockchain technology. The fund offers retail investors physical gold access from as little as US$45, with a tokenised design primed for future trading on regulated platforms. The launch comes amid fluctuating gold prices driven by geopolitical tensions and macroeconomic uncertainty.
Indian equity markets showed sharp divergence on Thursday. LIC shares showed signs of a potential 55% drop in portfolio valuation, while Wipro's stock rallied 5% in early trading. Delta Corp plunged 16% in early deals, highlighting the volatile environment for Indian stocks amid mixed sectoral performance.
Asian stock markets moved mostly higher on Thursday amid growing hopes for a winding down of the Iran conflict. US stock futures edged higher as traders monitor Middle East developments. Some analysts warn that an Iran deal could paradoxically trigger a stock-market selloff, as current optimism may already be priced in.
US inflation has climbed to a three-year high, eroding household income and spending power. A growing number of Americans are burning through their savings to cope with rising costs. Despite the US stock market hitting new highs, two out of three Americans report cutting back on spending, revealing a widening gap between Wall Street and Main Street.
The AI boom continues to reshape global stock market dynamics. Dell Technologies shares surged nearly 40% toward another record high after a massive earnings beat driven by AI demand. CNBC reports the AI wave is reshuffling market hierarchies worldwide, with non-chip sectors also beginning to see AI-driven breakouts.