The U.S. dollar remained near its lowest level in eight weeks on Friday, as investors awaited the release of the U.S. jobs report, which is expected to provide insights into the timing of Federal Reserve interest rate cuts.
Korean AI Startup Wrtn Raises Funds in Round Led by BRV Capital
Wrtn Technologies Inc., a South Korean AI startup, has successfully raised 25 billion won ($18.3 million) in a funding round led by BRV Capital Management. The pre-Series B funding round also saw participation from existing investors such as Capstone Partners Inc., Industrial Bank of Korea, and Z Venture Capital.
India Stock Futures Steady Ahead of Central Bank Rate Decision
India’s stock futures remained stable on Friday as investors awaited the central bank’s first monetary policy decision following Prime Minister Narendra Modi’s weak election victory, which raised concerns about potential fiscal populism.
Japan Likely Sold Treasuries to Fund Record Yen Intervention
According to data from the finance ministry, Japan experienced a significant drop in its holdings of foreign securities in May. This indicates that the government likely financed its recent currency market intervention, aimed at strengthening the yen,
Sunwoda EV Battery Is Said to Explore Switching IPO to Hong Kong
Sunwoda Electric Vehicle Battery Co., a subsidiary of Shenzhen-based Sunwoda Electronic Co., is reportedly considering an initial public offering (IPO) in Hong Kong instead of Shenzhen due to the lengthy approval process for listings on mainland exchanges.
Air Liquide plans $250 million plant to supply gas for chipmaker Micron
Air Liquide, a global industrial gas company, has announced plans to invest $250 million in a new plant in Idaho. The plant will produce ultra-pure nitrogen and other gases to supply U.S. chipmaker Micron Technology.
Dramatic Rise in Geopolitical Risk in Focus at HK Wealth Forum
At the Bloomberg Wealth summit in Hong Kong, political risks were a major focus following the surprising election result in India. Wealthy investors, including UBS Group AG and Hang Lung Group Ltd
Foxconn says May revenue climbs 22% y/y, raises outlook
Foxconn, the world’s largest contract electronics manufacturer and Apple’s primary iPhone assembler, announced on Wednesday that its revenue for May had reached a record high for the month, with a year-on-year increase of 22.1%.