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Hong Kong Securities and Futures Commission (SFC) first of its kind to allow spot Bitcoin and Ethereum exchange-traded funds (ETFs). Hong Kong has turned out to be the first of the jurisdictions in the world to allow a spot Ethereum ETF, even as the US sees several filings for the same product. Some of the approved players include such prominent financial entities as China Asset Management, Bosera Capital, and HashKey Capital Limited. They have received approvals to be able to offer Bitcoin and Ethereum spot ETFs, where the two digital assets will be used by the investors in buying shares of the ETFs directly. Another product that was given preliminary approval was Harvest Global Investments, who intends to create spot ETFs for Bitcoin and Ethereum digital assets, further deepening a more comprehensive landscape for digital asset investment. Han Tongli, CEO and CIO of Harvest International, said these ETFs will be very important for reflecting the current value of Bitcoin in a timely fashion, solving problems such as overburdensome margin requirements and price premiums. Current regulatory constraints effectively mean mainland Chinese funds cannot invest in cryptocurrency-related ETFs listed in Hong Kong.

In a fiery critique at a recent campaign rally, former President Donald Trump condemned President Joe Biden's handling of escalating tensions in the Middle East. The attack from Iran on Israel has stirred significant political commentary, with Trump seizing the moment to highlight perceived weaknesses in Biden's foreign policy approach. Trump's Rally Comments: During his speech in Schnecksville, Pennsylvania, Trump attributed the recent Iranian and earlier Hamas attacks on Israel to the current administration's lack of assertiveness. He asserted, "These attacks would not have happened if we were in office," emphasizing his administration’s tougher international stance. Trump further criticized President Biden, claiming, “Everything he touches turns to shit,” reflecting his belief that Biden's policies have led to increased instability in the region. Response from Biden Administration: The Biden administration has consistently stated that its commitment to Israel's security remains steadfast. Reacting to the unfolding situation, President Biden interrupted his weekend plans to address the crisis, signaling the gravity with which his administration views the Iranian threat. National Security Council Spokesperson Adrienne Watson reaffirmed, "The United States will stand with the people of Israel and support their defense against these threats from Iran." Legislative Actions and Political Reactions: Amidst these international tensions, the U.S. House of Representatives is set to shift its agenda to address the situation. House Majority Leader Steve Scalise indicated forthcoming legislation aimed at supporting Israel and holding Iran accountable. While the legislative path shows strong bipartisan support for Israel, it is complicated by debates over funding allocations, which also include provisions for Ukraine and other international aids. Republican Lawmakers Weigh In: Echoing Trump's sentiment, other Republican figures like Sen. Lindsey Graham and Sen. John Barrasso criticized the Biden administration for what they see as ineffective deterrents against Iranian aggression. They argue that the strength demonstrated during Trump's presidency had previously kept Iranian threats at bay. Trump's Continued Influence and Statements: Trump's influence within the Republican Party is undiminished, and his pronouncements shape GOP foreign policy positions. His critique of Biden's handling of Middle East affairs, supported by other Republican leaders, illustrates the deep political and ideological rifts between the parties on issues of national security and foreign policy. In conclusion the ongoing developments in the Middle East are becoming a significant element of U.S. political debate. As the presidential election approaches, the strategies adopted by Biden and Trump regarding these international crises will likely play a crucial role in shaping public opinion and determining voter preferences in the upcoming election.

Hong Kong is on the brink of a significant shift in the cryptocurrency world, with the potential approval of its first spot bitcoin exchange-traded funds (ETFs) in April. This groundbreaking move, expected to be announced next week, positions Hong Kong as a key player in global crypto investment and a trendsetter in Asia. April’s Pivotal Role in Hong Kong’s Crypto Scene Set against a backdrop of revitalizing its stature as a financial hub, Hong Kong's decision to fast-track the approval of spot bitcoin ETFs indicates a strategic push to capture the burgeoning interest in digital currencies. This development, expected to unfold in the latter half of April, marks a stark contrast to previous industry expectations, initially projecting ETF launches later in the year. Contextualizing Hong Kong's Decision in Crypto History The impact of introducing spot bitcoin ETFs cannot be overstated when examining past market trends. The U.S. experienced a significant influx of around $12 billion in net inflows into its spot bitcoin ETFs, launched in January. This coincided with a remarkable rise in Bitcoin’s value, reaching an all-time high in March 2023. As Hong Kong readies itself to follow suit, market analysts and investors are closely watching for a similar positive surge in the cryptocurrency sector. Prospective Date and Expected Market Response The week of April 10th is poised to be a defining moment for Hong Kong’s cryptocurrency market. The approval of these ETFs could infuse fresh capital into the crypto market, potentially propelling Bitcoin and other digital assets to new heights. The city is expected to become a hub for crypto wealth management, with several asset managers, including the Hong Kong units of China Asset Management, Harvest Fund Management, and Bosera Asset Management, eagerly awaiting approval for their ETF applications. Balancing Enthusiasm with Caution Despite the optimistic outlook, experts caution against expecting immediate large-scale investment inflows akin to those seen in the U.S. Nevertheless, the mere introduction of spot bitcoin ETFs in Hong Kong signals a significant shift in Asian markets' approach to cryptocurrency investment. In conclusion Hong Kong's potential approval of spot bitcoin ETFs in April 2024 heralds a new chapter in the global crypto narrative. As investors and analysts worldwide anticipate this development, it sets the stage for an exciting period in the evolution of cryptocurrency investment, positioning Hong Kong at the forefront of this transformative financial trend.

Gold prices soared to unprecedented levels, marking a third consecutive week of gains, driven by a confluence of factors including mounting inflationary pressures, uncertainty surrounding U.S. interest rate policies, and geopolitical tensions. Record-Breaking Rally Continues Spot gold reached a historic peak of $2,324.79 per ounce, surging by 1.3% and closing the week with a 3.8% increase. U.S. gold futures also saw a significant uptick, settling at $2,339.70 per ounce, a 1.4% rise. Inflation and USD Index Concerns Renewed inflation fears, compounded by a weaker U.S. dollar index slipping below the 104 mark, fueled investor interest in precious metals. The ongoing speculation surrounding potential rate cuts by the Federal Reserve added to the bullish sentiment in gold markets. Geopolitical Tensions and US Economy Escalating geopolitical tensions, particularly in the Middle East, alongside uncertainty surrounding the upcoming U.S. elections, added to the allure of gold as a safe-haven asset. Despite robust job growth in the U.S. during March, concerns lingered over the resilience of the economy in the face of external pressures. Federal Reserve Policy Fed Chair Jerome Powell's cautious stance on immediate rate cuts following the Federal Reserve's decision to maintain current policy rates contributed to the bullish outlook for gold. While strong jobs data momentarily tempered rate cut expectations, the Fed's commitment to data-driven decisions left room for continued uncertainty. Outlook and Forecast Analysts predict further gains for gold, with price estimates surpassing $2,500 per ounce. The metal's ability to sustain its rally amid changing economic dynamics underscores its role as a hedge against inflation and market volatility. Investor Considerations Gold's status as a safe-haven asset makes it an attractive investment option for investors seeking to diversify their portfolios. Exchange-Traded Funds (ETFs) and gold bullion offer convenient avenues for gaining exposure to the precious metal, providing investors with a hedge against inflation and geopolitical uncertainties. As global economic uncertainties persist, gold remains poised to maintain its upward trajectory, offering investors a reliable store of value in turbulent times.

Alphabet Inc. (GOOGL) is deliberating a potential bid for HubSpot Inc. (HUBS), driving GOOGL shares down 1.4% to $152.76, while HUBS stock climbs 8.8% to $682.28. Talks include evaluating offer terms and regulatory implications. Year-to-date, GOOGL stock has risen approximately 11%, with HUBS up around 8% prior to this development.

Wall Street's major indexes rallied early Thursday as recent economic indicators reignited hopes for potential monetary policy easing later in the year. Investors eagerly anticipate signals from policymakers regarding the timing of such cuts. The optimism follows the release of encouraging jobless claims data, which surpassed both the previous week's figures and analysts' estimates. The positive news prompted a retreat in the U.S. 10-Year Treasury yield from its recent high of 4.429% to approximately 4.32%. Stocks across all S&P 500 sectors are buoyant, with Real Estate leading the gains, while Utilities remain marginally positive. Both Growth and Value stocks are on the rise, with regional banks notably outperforming, rallying over 2%. Conversely, Gold stocks are experiencing a downturn, with the HUI index down around 1%. Market activity remains robust, with further updates expected shortly.

This week, investors and traders in the US stock market are gearing up for the release of crucial economic data, particularly the Nonfarm Payrolls (NFP) report and unemployment data. The NFP report for March is expected to be published soon, with analysts forecasting a rise of 192,500 jobs compared to February's figure of 275,000. Concurrently, the unemployment rate is anticipated to remain steady at 3.9%. These economic indicators hold significant weight, especially in the context of the Federal Reserve's monetary policy decisions. Fed Chairman Jerome Powell recently stated that a weakening labor market could prompt the central bank to consider interest rate cuts. Thus, any signs of deterioration in the labor market could fuel expectations of rate cuts, potentially influencing the direction of the stock market. However, market sentiment remains mixed. While there's anticipation of potential rate cuts by the Fed, recent economic data has painted a somewhat grim picture. The US dollar witnessed a significant decline following the release of Wednesday's soft ISM services report, signaling concerns about the pace of economic recovery. Moreover, markets are closely monitoring the NFP job growth figures, which have shown a steady decline since the peak in 2021. Despite the softer economic data, it's worth noting that job growth remains positive overall, albeit at a slower pace. The recent plateauing and subsequent pickup in job growth suggest a nuanced economic landscape. The Fed typically intervenes with rate cuts when faced with significant economic challenges, emphasizing the importance of monitoring job market dynamics in the coming months. In the realm of technical analysis, the S&P 500 chart reflects cautious optimism amidst uncertainties. While the price movement within an ascending channel indicates some bullish momentum, signs of weakness around the 5,250 level raise concerns. The failed attempt to break through this resistance level underscores the significance of upcoming economic data releases in shaping market sentiment. As investors brace for the NFP report and unemployment data, market participants remain vigilant for potential shifts in Fed policy outlook. The outcome of these data releases could serve as crucial drivers of price movement, potentially shaping the trajectory of the stock market in the near term.

Taiwan's semiconductor industry swiftly resumed operations following the island's worst earthquake in 25 years. Led by Taiwan Semiconductor Manufacturing Co. (TSMC), operations quickly resumed, with minimal damage reported to critical chip-making equipment. Despite the quake's toll of 10 lives and over 1,000 injuries, Taiwan's stringent building codes and technological advancements helped mitigate further damage.

A surge in global commodities is shaking up the economic landscape, posing a potential challenge to the Federal Reserve's plans for interest rate cuts. From oil and gold to the dollar's strength, the commodities rally signals inflationary pressures that may complicate the Fed's efforts to rein in rising prices and navigate the path towards rate cuts. The Bloomberg Commodity Index, which tracks a basket of 24 key commodities, has hit its highest level since November, buoyed by soaring energy prices and geopolitical tensions in the Middle East and Ukraine. Oil prices have surged, with Brent futures for June reaching $89.66 a barrel, up 31 cents, while U.S. West Texas Intermediate (WTI) futures for May rose to $85.73 a barrel, up 30 cents. Amidst this backdrop, silver prices have also surged, defying expectations in the face of a strengthening U.S. dollar. The iShares Silver Trust posted its best day since May 2023, reflecting growing investor interest in precious metals. Market strategists warn that the robust commodities rally reflects growing optimism about global economic recovery, driven by strong factory activity in the U.S. and an industrial resurgence in China. This optimism, however, raises doubts about the Fed's timeline for implementing rate cuts, initially expected to begin as early as June. With U.S. Treasury yields climbing and signs of solid economic growth in the U.S., Federal Reserve Chair Jerome Powell has expressed caution about the need for immediate rate cuts. Recent data showing higher-than-expected job growth and inflation suggest a more robust economic outlook, complicating the Fed's decision-making process. Furthermore, geopolitical tensions, including attacks on Russian refineries and escalating conflicts in the Middle East, have added to concerns about oil supply disruptions. The recent OPEC+ meeting, where major oil producers maintained output cuts, underscored the delicate balance between supply constraints and growing demand. Despite these challenges, market analysts remain optimistic about the resilience of the commodities market. While uncertainties persist, particularly regarding the Fed's rate-cut strategy and geopolitical risks, the commodities rally reflects underlying confidence in the global economic recovery. In summary, the surge in commodities prices poses a significant challenge to the Federal Reserve's plans for interest rate cuts, with implications for both economic stability and financial markets. As the Fed navigates these uncertainties, investors will closely monitor developments in the commodities market and the central bank's policy decisions.

Renowned Financial Educator Robert Kiyosaki Stands Firm on Bitcoin as Fed Chair Acknowledges Inflation Concerns Renowned financial educator and bestselling author Robert Kiyosaki recently reiterated his unwavering support for Bitcoin (BTC) amidst Federal Reserve Chairman Jerome Powell’s admission regarding inflation concerns. Kiyosaki’s affirmation of Bitcoin comes at a crucial juncture, as Powell’s acknowledgement of inflationary pressures signals a significant turning point for the economy. Kiyosaki Backs Bitcoin Amidst Inflation Alarm Kiyosaki, best known for his acclaimed book “Rich Dad Poor Dad,” has long championed alternative assets such as gold, silver, and Bitcoin. In response to Powell’s recent admission, Kiyosaki underscored the importance of the Fed Chairman’s acknowledgement of the prevailing inflationary trends. He emphasised, “Fed Chairman Powell finally told the truth. Last week he finally admitted inflation is winning." Kiyosaki's bold endorsement of Bitcoin resonates strongly with his belief in the importance of financial empowerment. Bitcoin Amidst Economic Uncertainty As Powell emphasised the need for further deliberation before considering interest rate adjustments, uncertainty looms over the potential for rate cuts by mid-2024. This uncertainty suggests that assets like Bitcoin, often associated with higher risk appetite, may experience a period of consolidation before resuming upward momentum. Furthermore, Powell highlighted the out performance in job creation and inflation figures, suggesting a cautious approach towards rate adjustments. Kiyosaki's Bold Prediction and Bitcoin's Resilience In a recent tweet, Kiyosaki revealed his willingness to acquire more BTC if the crypto asset’s value ever drops to $200, as predicted by American financial writer Harry Dent. Despite Dent’s forecast of a potential market crash, Kiyosaki remains bullish on Bitcoin, citing its unique value proposition and capped supply of 21 million coins. Kiyosaki's confidence in Bitcoin's resilience underscores his belief in the cryptocurrency's potential to weather economic uncertainties. Conclusion As economic uncertainties persist and inflationary pressures mount, individuals like Robert Kiyosaki continue to advocate for alternative assets like Bitcoin as a hedge against the devaluation of fiat currencies. With Powell's admission highlighting the challenges ahead, the role of Bitcoin as a store of value and hedge against inflation gains further prominence in today’s economic landscape.

Federal Reserve Chair Jerome Powell struck a cautious tone on Wednesday regarding potential interest rate cuts, emphasizing the need for more evidence that inflation is easing before policymakers take action. In a speech at Stanford University, Powell highlighted the recent uptick in inflation, stating, "On inflation, it is too soon to say whether the recent readings represent more than just a bump." He stressed that the Federal Reserve would not consider lowering the policy rate until there is greater confidence that inflation is moving sustainably down toward the Fed's target of 2 percent. Powell's remarks come in the wake of the Federal Open Market Committee's decision to hold benchmark short-term borrowing rates steady on March 20. This decision reflects the committee's reluctance to rush into monetary policy adjustments. Despite market expectations for rate cuts this year, Powell indicated that policymakers are taking a patient approach, allowing incoming data to guide their decisions. While inflation has shown signs of stubbornness, with various measures indicating rates above the Fed's target, Powell highlighted the need to assess broader economic variables, including the labor market and consumer spending, before considering rate cuts. Other Fed officials have echoed Powell's cautious stance, with Atlanta Fed President Raphael Bostic suggesting that only one rate cut might be warranted given recent price pressures. San Francisco Fed President Mary Daly and Cleveland Fed President Loretta Mester also emphasized the need for careful evaluation before adjusting monetary policy. The uncertainty surrounding rate cuts has contributed to market volatility, with investors closely monitoring developments in inflation and Fed policy. Powell acknowledged the importance of Fed independence, particularly as the presidential election campaign intensifies, reaffirming the central bank's commitment to making decisions based on economic fundamentals rather than political considerations. As the Fed continues to assess inflation trends and economic indicators, Powell emphasized that decisions on interest rates will be made "meeting by meeting," with a focus on ensuring stability and sustainable growth in the economy. The next meeting of the Federal Open Market Committee is scheduled for April 31-May 1, where policymakers will further deliberate on monetary policy adjustments.

In the latest report from the Energy Information Administration (EIA) on Wednesday, U.S. crude stocks witnessed a notable increase, while gasoline and distillate inventories saw declines for the week ending March 29. According to the EIA, crude inventories surged by 3.2 million barrels, reaching a total of 451.4 million barrels, exceeding analysts' expectations of a 1.5 million-barrel draw as per a Reuters poll. Additionally, crude stocks at the Cushing, Oklahoma, delivery hub dropped by 377,000 barrels. The report also highlighted a decrease in refinery crude runs, falling by 35,000 barrels per day. In contrast, U.S. gasoline stocks experienced a significant decline of 4.3 million barrels, totaling 227.8 million barrels for the week. This decline was contrary to analysts' expectations of a 0.8 million-barrel draw, as indicated by the EIA.