Asia stocks rise after Fed chair says US inflation temporary

Overnight, Wall Street’s benchmark S&P 500 index rose 0.5% to near last week’s all-time high after Fed chairman Jerome Powell said inflation is mostly in areas that suffer supply shortages. Also Wednesday, the preliminary version of a monthly survey of Japanese manufacturers showed June activity weakened amid shortages of processor chips and anti-coronavirus restrictions. Most […]

Bitcoin briefly plunges below US$30000 as China ramps up the pressure on cryptos

Other cryptos were also caught up the big sell-off: Ethereum fell about 10% while Dogecoin dove 25 per cent, erasing all of its gains since April. All six companies said in statements issued after the central bank announcement that no institutions or individuals are allowed to use their platforms for any crypto-related activity. Over the weekend, […]