SpikeFast Ventures

13/03/2024

Investor interest in near-term ether puts likely stems from the dwindling probability of the U.S. Securities and Exchange Commission (SEC) approving a spot ether exchange-traded fund (ETF) by May, QCP Capital explained in its latest market insights post.
The 75% year-to-date gain in ether, the token of the Ethereum blockchain, has been catalyzed mainly by hopes the SEC will greenlight a spot ETF, opening the doors for traditional financial institutions to take exposure to the second-largest cryptocurrency without owning it directly. The SEC approved nearly a dozen spot bitcoin ETFs in January. Since then, billions of dollars have been poured into these ETFs, sending bitcoin to record highs above $70,000.
On Monday, ETF analysts at Bloomberg reduced their estimates for a spot ether ETF approval in May to 30% from 70%. The probability has dropped from over 70% in January to 31% on decentralized betting platform Polymarket. Earlier this year, investment banking giant JPMorgan said that the probability of the SEC approving an ETH ETF by May is no more than 50%.

12/03/2024

11/03/2024

KUALA LUMPUR (Reuters) - Goodyear Tire & Rubber Co, one of the world's largest tire makers, plans to shut down its plant in Malaysia on June 30 - a decision expected to affect more than 500 employees, the company and Malaysia's investment promotion agency said.

Goodyear said the decision to shutter the plant in the Shah Alam district in Selangor state - which opened in 1972 - was part of its Goodyear Forward corporate restructuring program, aimed at delivering $1 billion in cost reductions by 2025.

"These decisions are not made lightly and we remain committed to treating our associates with care and respect," the company said in a statement on Thursday. "We will continue to serve the Malaysia market with our industry-leading products and solutions from other manufacturing sites within Goodyear’s footprint."

Goodyear has faced accusations of labour abuses, including unpaid wages, excessive overtime and threats against dozens of migrant workers at the Malaysian manufacturing plant in recent years.

The company and the workers reached a settlement agreement in 2022, with each employee paid 50,000 ringgit to 200,000 ringgit ($10,660 to $42,644) depending on the length of their employment, Reuters reported.

In a separate statement on Friday, the Malaysian Investment Development Authority (MIDA) said the closing of the plant would directly affect about 550 employees.

The Malaysian government and Goodyear have been working to establish a support framework to help those workers, including upskilling and reskilling programmes and facilitating job placements, MIDA said.

Malaysia has faced accusations from its Human Resources Ministry and authorities in the United States of labour abuses at its factories, which rely on millions of migrant workers to manufacture everything from palm oil to medical gloves and semiconductor chips.

The government has set a target of 2030 to eliminate forced labour practices

08/03/2024

Today's important trading news
Another interesting development is that Bitcoin, a popular cryptocurrency, is increasing in value after reaching an all-time high, while gold, a traditional safe-haven asset, is also holding steady near a record high.

Morgan Stanley, a major investment bank, has reduced its staff in its China fund, suggesting a lack of confidence in the effectiveness of China's recent stimulus measures. This news has caused the market to react, and shares of Apple, a popular technology company, have dropped as its sales in China slump. There are also concerns about the use of artificial intelligence to create images that spread false information during elections, which is a growing issue for investors.

Despite these uncertainties, the NASDAQ 100, an index that tracks the performance of technology companies, has been performing well. However, there is a negative divergence that suggests a possible short-term correction in the market

06/03/2024

PETALING JAYA: The local equity market is in a sweet spot for a prolonged bull market, on the back of improved external development, the expected rebound in China’s economy, coupled with cheap stocks and ringgit valuations, said Capital Dynamics Asset Management Sdn Bhd managing director Tan Teng Boo.

He expects the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) to, at least, double its current level to hit between 2,500 and 3,000 over the next three to five years.

Tan said that although China’s recovery is somewhat "uneven”, the economy remained robust in 2023 and this was reflected in its gross domestic product (GDP) which expanded significantly compared with most major developed countries.

The recovery in China will create a huge spillover to other countries’ economies, particularly in terms of trade as the republic is the most important trading partner for 120 countries worldwide.

"I believe that the Chinese economy is still the strongest in the world. It will recover strongly in 2024 and beyond.

"Malaysia will be a good beneficiary. Tourist arrivals from China have not even reached the pre-pandemic level...we have even yet to see the full (recovery impact from China),” he told a media briefing on the stock market titled "Is investing in Malaysia Still Attractive Now?” here, today.

Tan also brushed off the stigma that China’s property sector is in a crisis, saying it is not weak as the sector is being fundamentally transformed by the government.

01/03/2024

Forex, or foreign exchange, is the global marketplace where currencies are bought and sold. It plays a critical role in international trade, investment, and economic stability. Here are several reasons why forex knowledge is important:

Global Financial Markets: The forex market is the largest and most liquid financial market in the world, with an average daily trading volume of trillions of dollars. Understanding forex allows individuals and businesses to participate in this global market and take advantage of its opportunities.

International Trade: Forex knowledge is crucial for businesses engaged in international trade. Exchange rates directly impact the cost of imports and exports, affecting profitability and competitiveness. Understanding how currency fluctuations can impact trade can help businesses effectively manage risk and optimize pricing strategies.

Investment Opportunities: Forex trading offers opportunities for individuals and institutions to profit from currency movements. Having a strong understanding of forex enables investors to make informed decisions and potentially generate returns through currency trading or currency-related investment instruments like forex derivatives and exchange-traded funds (ETFs).

Risk Management: Forex knowledge is essential for managing currency risk. Companies that operate globally face currency risks due to fluctuating exchange rates. By understanding forex fundamentals, businesses can implement effective risk management strategies, such as hedging, to mitigate potential losses.

Economic Indicators: Currencies are influenced by a variety of economic factors, including interest rates, inflation, employment data, and geopolitical events. Forex knowledge allows individuals to interpret these economic indicators and make informed predictions about currency movements. This information is valuable for businesses, investors, and policymakers.

Diversification: Forex provides an avenue for diversification in investment portfolios. By including forex assets, investors can reduce the overall risk of their portfolio, as forex tends to have a low correlation with other asset classes, such as stocks and bonds. Understanding forex allows investors to allocate their funds effectively across different asset classes.

Travel and Personal Finance: For individuals traveling to foreign countries, understanding forex is crucial for exchanging currencies and managing travel expenses. Knowledge of exchange rates and transaction costs can help individuals get the best value when converting their money.

Economic Policy Analysis: Forex knowledge is relevant for analyzing and understanding economic policies implemented by governments and central banks. Monetary policy decisions, such as interest rate changes or quantitative easing, can have significant effects on currency values. Having a grasp of forex allows individuals to assess the potential impact of these policies on various aspects of the economy.

In summary, forex knowledge is important due to its role in global financial markets, international trade, investment opportunities, risk management, economic indicators, diversification, personal finance, and economic policy analysis. Whether you are an individual, a business, or an investor, understanding forex provides valuable insights for making informed decisions and managing financial matters effectively.

28/02/2024

Every winner needs to master three essential components of trading; a sound individual psychology, a logical trading system and good money management. These essentials are like three legs of a stool – remove one and the stool will fall, together with the person who sits on it

27/02/2024

Bottom line
The evidence is clear that investing is a strategy that works better for most people. Can some traders consistently beat the market? Absolutely, no question. But for most people it’s better to be an investor than a trader – and it can take less time and effort, too.

Legendary investor Warren Buffett recommends that investors regularly buy into an index fund such as an S&P 500 fund and then hold for decades. This approach follows the spirit of being an investor – taking a long-term mindset and letting the businesses generate gains for you.

26/02/2024

“Trading is something that is not for everyone but everyone can try it once to be successful”
― Anuj Jasani

23/02/2024

It’s not whether you’re right or wrong that’s important, it’s how much money you make when you’re right and how much you lose when you’re wrong.

George Soros