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World shares steady as Biden exits White House race

Channel News Asia LogoChannel News Asia2h ago

World shares steady as Biden exits White House race - Channel News Asia

Quick Summary:

LONDON/NEW YORK: An index of global shares steadied on Monday as investors weighed President Joe Biden's decision to end his reelection bid over the weekend, while a surprise rate cut by China's central bank failed to boost Asian markets.

Nvidia ended up nearly 5 per cent, buoyed by news it is working on a new AI chip for the Chinese market.

"I think largely the Biden bailing out was priced in; we just needed definitiveness on that," said Lou Basenese, president and chief market strategist at MDB Capital in New York.


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Article Details

Category: EconomyBusiness

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 05:37:09 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 802 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21738373

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About Channel News Asia

Channel News Asia Logo

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 39 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 3 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

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The outlet is headquartered in Singapore and publishes an average of 39 news stories per day.

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