🇯🇵📉 — ✔️ TASS:

"❗️Shares of the three largest commercial banks in Japan are falling by 13-15%, as follows from trading data.‌‌

The Japanese Cabinet of Ministers does not comment on the market collapse, but is closely monitoring the situation, said Secretary General of the Japanese Cabinet of Ministers Yoshimasa Hayashi.‌‌"

#Geoeconomics

🇺🇸👎🔓🇻🇪 — Specialists from the Carter Center, invited by the Venezuelan government to observe the July 28 presidential elections, found no evidence of "hacking" of the electoral system, thereby debunking official claims of ballot manipulation by the opposition.

💬 Patricio Ballados, deputy head of the Carter Center's mission in Venezuela, told DW that the National Electoral Council (CNE) did not provide evidence of the alleged hacking and stated that sabotage was "practically impossible."

☄️ This report reinforces the conclusion that the elections "were not democratic."

🇻🇪🇻🇪❌🇨🇱 — Nicolás Maduro lashes out against the President of Chile, Gabriel Boric, accusing him of training Pinochetist fascists to carry out actions against his regime in Venezuela. These remarks were made during the 87th anniversary of the Bolivarian National Guard.

"All the videos, training centers, that the Pinochetists, the fascists of Chile, with the endorsement of the Chilean government, have a Venezuelan to train him for many of these terrorist actions. So we are confronting, containing, defeating, dismantling, and pulverizing a cyber-fascist-criminal coup.

And we must consolidate the path to victory that is already on the horizon, for the peace of the country and because we continue with the agenda that Venezuela needs!"

🇯🇵📉 — 🇬🇧 Financial Times | Asian shares tumble as traders brace for global volatility | Weak US economic data could push Fed into making rapid interest rate cuts | August 5, 2024:

"Japanese stocks plunged heavily on Monday, pitching the country’s major indices into their third straight session of massive declines as global markets shudder at the prospect of a US recession.

In a rout that produced declines on other Asian markets, Japan’s broad Topix index was down as much as 7.3 per cent, while the Nikkei 225, which on Friday suffered its biggest one-day fall since the 1987 crash, was down 5.9 per cent.

The sell-off in Japan, said traders in Tokyo, is likely to continue in Europe and the US. Investors are prepared for renewed volatility on fears that the Federal Reserve has been too slow to respond to signs the US economy is cooling and may be forced to cut interest rates."

#Geoeconomics

🗄 Archive

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🇯🇵📉 — 🇺🇸 Bloomberg | Forced Margin Selling Seen Exacerbating Japan Market Rout | Retail investors’ margin buying position reached 18-year high | Tax-free accounts had encouraged more Japanese to buy stocks | August 5, 2024:

"The swift downturn in the Japanese stock market likely triggered a massive wave of forced selling among retail investors, deepening the rout.

The Topix index plunged more than 7% with companies such as Mitsubishi Heavy Industries and Sumitomo Mitsui Financial diving more than 15%. The scale of selloff is such that some market players think individual investors are now being forced to dump stocks they had bought on margin.

Retail investors’ margin buying position rose to a 18-year high in late July even as the Nikkei slipped from its historic peak. Investors who have bought stocks using credit are often forced to close their positions when stock prices fall more than expected, unless they have enough extra cash for collateral to deploy."

#Geoeconomics

🗄 Archive

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🇨🇳🥇 PBoC Gold Conduit Revealed—Chinese Central Bank Did Not Stop Buying Gold in May

➡️The Chinese central bank desperately needs to diversify its foreign exchange reserves since the beginning of 2022. Since then, the PBoC secretly buys large amounts of gold.

➡️At the same time, export of large gold bars from the UK to China explodes.

➡️A “surplus” in the Chinese market appears, while the bullion is not to be found in SGE vaults. As if it has gone up in smoke.

➡️A source indicates that gold shipments for central banks are often included in customs data.

➡️There is a correlation between PBoC official buying and UK exports to China, suggesting the Chinese central bank buys gold in England’s capital and lets banks supervise transport (maybe because the PBoC reaches the limits of its own capacity to ship gold when volumes are sizable).

➡️It all points towards UK gold exports to China are destined for the PBoC—although probably not every ounce of these flows is for the Chinese central bank. Clearly, the PBoC is accumulating more gold than it wants to disclose.

➡️When the PBoC stated it had stopped buying gold in May 2024, after continuous purchases for 18 months, I didn’t believe it. The PBoC has few reasons to cease growing its gold reserves in the current geo-political and monetary landscape with a plethora of challenges.

https://www.gainesvillecoins.com/blog/pboc-gold-conduit-revealed-chinese-central-bank-did-not-stop-buying-gold-in-may

@FelipeChannel

#BREAKING:

🇹🇼‼️📉Taiwan's stock-market suffers worst day in 57 years!

@FelipeChannel

📈‼️❌ — VIX (the CBOE Volatility Index, popular measure of the stock market's expectation of volatility based on S&P 500 index options) crossed above 52 today, for the first time since the market turbulence in April 2020 due to COVID19.

@FelipeChannel

🇧🇩 The Prime Minister of Bangladesh, Sheikh Hasini, has fled the country and resigned after anti-government protesters stormed her official residence in Dhaka.

🔗 Politics Global