South Korea’s equity benchmark flirted with bull market territory as a global investor frenzy for all things tied to artificial intelligence saw foreign funds accelerate purchases of the nation’s chipmakers.
Former Treasury Secretary Lawrence Summers sees US interest rates headed higher in the short-run and US taxes rising significantly in the longer run as the world’s biggest economy comes to grips with a persistent inflation problem and burgeoning government debt.
Cathie Wood said software providers will be the next to ride on the artificial intelligence frenzy driven by Nvidia Corp.
Moody’s Investors Service lowered Bangladesh’s credit rating as the nation’s foreign-exchange reserves dwindle while unconventional policies such as multiple exchange rates and interest-rate caps create market distortions.
Economists see India’s central bank holding interest rates this year before cutting 25 basis points in the first quarter of next year as inflation moderates and the economy stays resilient, according to the latest Bloomberg survey results.
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