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FXI

China's Premier Li Qiang has emphasized the need to promote digital technology innovation and breakthroughs, and to accelerate the construction of network computing power application infrastructure, according to Reuters citing China state media.

Portfolio Pulse from Charles Gross

October 09, 2023 | 10:49 am

BUR

Burford Capital Limited has expanded and extended its funding arrangement with its sovereign wealth fund strategic partner. The agreement, known as BOF-C, had committed $872 million to capital provision-direct assets, of which $435 million was undrawn. The investment period has been extended by a year until December 31, 2024, and the agreement has been amended to allow recycling of certain profit, potentially increasing the total amount of capital that BOF-C can deploy.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 10:48 am

C

HSBC

Citigroup Inc plans to sell its onshore consumer wealth portfolio in China to HSBC Holdings Plc's China division. The deal, expected to close in H1 2024, includes assets under management and total deposits worth about $3.6 billion. This is in line with Citigroup's strategy to divest its consumer banking business in various regions. The bank also plans an IPO of its consumer, small business and middle-market banking operations in Mexico.

Portfolio Pulse from Lekha Gupta

October 09, 2023 | 10:41 am

GLD

SPY

USO

US stock markets closed higher on Friday, October 6, due to a surprising increase in job creation last month, despite slow wage growth. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all saw increases. Asian markets were mixed, with Australia's S&P/ASX 200 rising due to a surge in gold and oil stocks amid Middle East tensions, while Chinese stocks fell. European markets were also mixed, and commodities such as crude oil, natural gas, and gold were trading higher. US futures were down.

Portfolio Pulse from Akanksha Bakshi

October 09, 2023 | 10:34 am

BTCUSD

Glassnode co-founder Negentropic conducted an analysis on whether Bitcoin (BTC) could potentially reach 98 times the price of gold. The analysis revealed bullish signs as key indicators, such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), both showed a bullish sentiment.

Portfolio Pulse from Mehab Qureshi

October 09, 2023 | 9:57 am

C

HSBC

Citi has agreed to sell its onshore consumer wealth portfolio in China, including clients, assets under management (AUM) and deposits, to HSBC Bank China. The deal covers total deposits and investment AUMs of $3.6B. HSBC plans to extend offers to employees supporting Citi's local consumer wealth business in China.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 9:09 am

BTCUSD

A dormant Bitcoin wallet that had been inactive for over three years transferred approximately $140 million worth of Bitcoin to three different addresses. The exact motives behind such moves remain uncertain. At the time of writing, Bitcoin was trading at $27,939.94, down 0.56% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

October 09, 2023 | 7:15 am

BTCUSD

Experts are divided on whether Bitcoin (CRYPTO: BTC) can serve as a reliable safeguard against inflation. Zach Pandl from Grayscale Investments argues that Bitcoin's scarcity makes it valuable and better suited as an inflation hedge. However, Eswar Prasad from Cornell University disagrees, stating that Bitcoin's value stems solely from its scarcity and its high price volatility and unreliable technology make it a risky bet as an inflation hedge.

Portfolio Pulse from Benzinga Neuro

October 09, 2023 | 7:01 am

DOGEUSD

SHIBUSD

Shiba (SHIBA), a cryptocurrency that calls itself the 'Dogecoin killer', has seen a 750% increase in value in the past 24 hours. The token is not listed on centralized exchanges but has been actively traded on decentralized ones. The SHIBA website declares itself as the 'rebirth of the DOGE killer' and anticipates a new leader in the crypto market. SHIBA has also introduced its own token called $BONES.

Portfolio Pulse from Mehab Qureshi

October 09, 2023 | 3:17 am

DIA

QQQ

SPY

Since the market bottom in March 2020, major U.S. indices have seen respectable returns, with SPDR S&P 500 ETF (SPY), Invesco QQQ Trust Series 1 (QQQ), and SPDR Dow Jones Industrial Average ETF Trust (DIA) returning 87.7%, 113.6%, and 74.1% respectively. However, cryptocurrencies have outperformed these indices, with Bitcoin, Ethereum, and Dogecoin seeing significant returns.

Portfolio Pulse from Henry Khederian

October 09, 2023 | 2:59 am