Author: Multibagger News

TSMC Hits Record High: How AI Demand Propels Asia’s Most Valuable Company Beyond $1 Trillion Market Value SINGAPORE (Multibagger) – Taiwan Semiconductor Manufacturing Co. (TSMC) soared to a new pinnacle on Thursday, driven by robust second-quarter revenue fueled by surging demand for AI applications, solidifying its status as Asia’s most valuable corporation. TSMC Breaks the Trillion-Dollar Barrier This week, TSMC also surpassed the monumental trillion-dollar market valuation mark. Why This Matters The global surge in AI interest has triggered a massive rally in semiconductor stocks. As the world’s largest contract chipmaker, TSMC—whose clientele includes AI frontrunner Nvidia (NASDAQ: NVDA)—has reaped…

Thai Consumer Confidence Hits Lowest Level Since September Amid Economic Slowdown and Political Uncertainty In a worrying trend, Thai consumer confidence has dropped for the fourth consecutive month, reaching its lowest level since last September. The University of the Thai Chamber of Commerce reported that the consumer index fell to 58.9 in June from 60.5 in May, reflecting concerns about an economic slowdown and political instability. Consumers cited worries about the economy recovering slowly due to a lack of clear stimulus measures, as well as uncertainty surrounding a court case that could potentially lead to the dismissal of the prime…

Meta Platforms CEO Mark Zuckerberg Sells $8.6 Million in Stock – What Does This Mean for Investors? In a recent SEC filing, Mark Zuckerberg, the CEO of Meta Platforms, Inc. (NASDAQ:), disclosed selling a substantial amount of company stock. These transactions, which occurred on July 8, 2024, involved the sale of Class A common stock totaling over $8.6 million. Zuckerberg executed these sales through predetermined trading plans known as Rule 10b5-1, allowing company insiders to sell stock at scheduled times to avoid insider trading accusations. Despite these sales, Zuckerberg still holds significant indirect ownership of Meta Platforms’ shares through various…

Asian Tech Stocks Surge: TSMC Leads Rally with Record Revenues; AI Demand Fuels Optimism In a significant boost to the Asian technology sector, shares of leading chipmakers soared on Thursday. Taiwan Semiconductor Manufacturing Company (TSMC) spearheaded the rally with impressive revenue figures, igniting optimism about the burgeoning artificial intelligence (AI) market. TSMC Hits Record High on Strong Revenue Report TSMC’s stock (TW: TSMC) surged nearly 2% in Taiwan, hitting a record high of T$1,070.0. The world’s largest contract chipmaker reported robust June revenues at T$207.87 billion ($6.4 billion), pushing its second-quarter earnings to T$673.51 billion—surpassing market expectations. AI Demand Drives…

The Ultimate Guide to European and Global Markets: Ollie Watkins’ Goal Sends England to Euro Final, But What Does It Mean for Your Investments? As the excitement builds for Sunday’s European Championship final between England and Spain, the financial world is also on edge with the battle against inflation heating up. All eyes are on the U.S. as the latest CPI numbers are set to be released today, with expectations of a slowdown in annual headline CPI to 3.1% and steady core CPI at 0.2%. Stock markets have been soaring to record highs, fueled by big tech gains and anticipation…

Meta Platforms CEO Mark Zuckerberg Sells Over $8.8 Million in Company Stock – What This Means for Investors Mark Zuckerberg, the CEO and Chairman of Meta Platforms, Inc. (NASDAQ:), recently sold shares of the company’s Class A common stock, totaling more than $8.8 million. These transactions were executed through the Chan Zuckerberg Initiative Foundation and Chan Zuckerberg Initiative Advocacy, as revealed in the latest regulatory filings. On July 9, 2024, Zuckerberg conducted two sets of sales. The first set, through the Chan Zuckerberg Initiative Foundation, involved selling Meta Platforms’ stock for about $4.24 million, with share prices ranging from $528.995…

Investing.com– In a positive turn of events, most Asian currencies saw a rise on Thursday as the dollar lost ground following comments from Federal Reserve Chair Jerome Powell. Powell’s remarks have sparked optimism over potential interest rate cuts, shifting the focus towards upcoming inflation data. Traders are maintaining bets on a September interest rate cut by the Fed, leading to regional currencies gaining ground against the dollar. The consumer price index inflation report scheduled for Thursday is expected to provide further insights into this matter. However, the Japanese yen continues to struggle against its counterparts, with the currency staying near…

Why Hedge Funds Are Betting Big on South Korean Chipmakers: The AI Gold Rush Explained By Summer Zhen Introduction In the fast-paced world of financial markets, hedge funds are now eyeing South Korea’s chipmakers as the next big opportunity. These funds are betting on high-end memory chips and robust government support to drive up the value of these stocks, making them a hot commodity in the AI sector. Key Players and Their Moves Major hedge funds like Britain’s Man Group, Singapore’s FengHe Fund Management, Hong Kong’s CloudAlpha Capital Management, and East Eagle Asset Management are diving into South Korean tech…

Discover the latest insider transaction at WEX Inc. (NYSE:WEX) as CFO Jagtar Narula sells 540 shares. Is this a signal for investors to take note of? Find out more here! On July 8, Jagtar Narula, the CFO of WEX Inc., sold 540 shares at $180 per share, totaling $97,200. This sale was part of a pre-arranged trading plan to avoid insider trading accusations. WEX Inc. is a business services provider based in Portland, Maine. Insider sales can offer insights into the company’s valuation and future prospects, but transactions under Rule 10b5-1 plans are pre-planned and may not reflect the insider’s…

Prabowo Subianto to Increase Indonesia’s Debt-to-GDP Ratio to 50% with a Focus on Boosting Tax Revenues In a recent interview with the Financial Times, Indonesian President-elect Prabowo Subianto’s adviser, Hashim Djojohadikusumo, revealed that the incoming administration plans to allow the nation’s debt-to-GDP ratio to rise to 50%. This decision is contingent on the government’s ability to increase tax revenues significantly. Despite concerns about the potential impact on Indonesia’s investment-grade rating, Hashim emphasized the importance of raising revenue alongside the debt level. The administration aims to achieve this through various means, including taxes, excise taxes, royalties from mining, and import duties.…