MONEY MASTER

Gold and silver surged to fresh record highs as investors rushed into  safe-haven assets , driven by escalating geopolitical tensions, a weaker US dollar, and expectations of  further US interest rate cuts . What’s Driving the Rally Geopolitical risk spikes , particularly renewed US–Iran tensions US dollar weakness , making precious metals cheaper for global buyers Expectations of Fed rate cuts , with markets eyeing June as the next move Strong ETF inflows , signalling institutional demand Spot gold climbed  2.1% to US$5,513 , after touching a peak near  US$5,595 , marking  nine consecutive sessions of record highs . The metal is now  up 28% for January . Silver followed closely,  breaking above US$120  and extending its year-to-date gain to nearly  64% . Geopolitics Back in Focus US President  Donald Trump  urged Iran to negotiate a nuclear deal, warning of stronger retaliation than previous US strikes on Iranian nuclear facilities...

Crypto’s latest pullback is being driven primarily by retail investors cashing out of spot bitcoin and ether ETFs, according to JPMorgan analysts, who say the weakness is not linked to a wider shift away from risk assets. In a note released Wednesday, the team led by Nikolaos Panigirtzoglou said retail investors have withdrawn roughly  US$4 billion  from spot Bitcoin and Ether ETFs so far in November. At the same time, they are  pouring money into stock ETFs , which have seen  US$96 billion  in inflows month-to-date and may reach  US$160 billion  if the pace continues through month-end. The divergence indicates the crypto downdraft is  not part of a broad selloff , but rather a rotation driven by retail traders who view equities and crypto as separate exposures. Bitcoin has now fallen below JPMorgan’s estimated  production-cost support level of US$94,000 , the analysts said. Unlike October’s sharp correction—triggered by crypto-native traders...

Gold prices surged to a  new record high  on Tuesday, marking a  third straight session of gains  as investors piled into safe-haven assets amid  US political gridlock  and rising expectations of  further Federal Reserve rate cuts . Spot gold  traded at  US$3,961.64/oz  at 0055 GMT after touching an all-time peak of  US$3,977.19 , while  December gold futures  climbed 0.2% to  US$3,985.50 . Market bets now price in  95% odds  of a  25-basis-point cut in October  and an  83% chance  of another in December, according to the  CME FedWatch Tool . The  White House  has warned that the ongoing  government shutdown , now entering its  seventh day , could soon result in job losses. “Gold continues to thrive in a low-rate, high-uncertainty environment,” analysts said, noting the metal’s appeal as inflation risks linger and political tensions escalate. Gold has soared 51% y...

ARK Invest Returns to Alibaba Alibaba Group Holding Ltd. shares surged in New York on Wednesday, buoyed by renewed interest from prominent tech investor  Cathie Wood . Her firm  ARK Invest  acquired about  $16.3 million  worth of Alibaba stock across its ARK Fintech Innovation ETF and ARK Next Generation Internet ETF on Monday, marking its first exposure to the Chinese e-commerce giant since 2021. Stock Performance and Market Reaction Alibaba’s U.S.-listed shares jumped  8.2%  on Wednesday, following a  9% rally  in Hong Kong earlier this week after its annual technology conference. Year-to-date, Alibaba’s U.S. stock has gained  92% , outperforming broader Chinese tech peers. AI and Cloud Expansion Plans At its flagship conference, Alibaba unveiled  Qwen3-Max , a large language model with  over 1 trillion parameters , claiming benchmark advantages over rivals such as  Anthropic’s Claude  and  DeepSeek . The compa...

Japanese equities opened higher Monday after the Bank of Japan (BOJ) unveiled a long-term, gradual plan to reduce its massive exchange-traded fund (ETF) holdings. Market Snapshot Nikkei 225 : +147.97 points (+0.32%) to 45,193.77 at open. BOJ plan : Reduce ETF holdings by ~620 billion yen (market value) annually. Impact : Removes a key market overhang that had weighed on sentiment. Context The BOJ’s gradual pace signals a careful approach to avoid destabilizing markets. Investors see the move as reducing uncertainty while keeping liquidity intact. Meanwhile in the US, tech companies face challenges after Trump proposed a  $100,000 H-1B visa fee , shaking an industry reliant on global talent. Key Takeaway The BOJ’s slow-and-steady unwind reassured markets, lifting Japanese equities. The Nikkei 225 gained at the open, supported by easing concerns about the central bank’s heavy ETF footprint.

Gold prices remain near record highs above  US$3,670/oz , supported by expectations of US Federal Reserve rate cuts, mounting geopolitical risks, and sustained central bank demand. Year-to-date, gold has surged more than  38% , marking its strongest annual gain since 2000. Fed Policy and Labour Market Weakness Fuel Rally The rally gained momentum after  Fed Chair Jerome Powell’s dovish remarks at Jackson Hole , which raised bets for a  September rate cut . The weak August non-farm payrolls report — showing just  22,000 jobs added  and a jobless rate of  4.3%  — reinforced market conviction. CME data shows traders pricing in a  93.7% probability of a 25bps cut  next week, with a small chance of a deeper 50bps move. This has pressured the US dollar and bolstered gold’s appeal. Safe-Haven Demand Amid Rising Risks Beyond monetary policy, investors are seeking refuge in gold as  geopolitical tensions escalate : Political turmoil in Franc...

The U.S. stock market is pushing to record highs despite a fragile economy, prompting Goldman Sachs to suggest  put options  as a cost-effective hedge against potential declines. Market Calm Masks Risks The  S&P 500  logged its 18th record high of 2025 on Thursday. Economic data shows  slowing consumer spending  and  stubborn inflation . President Trump’s  Federal Reserve criticism  and unpredictable  trade policies  add to uncertainty. VIX  (fear gauge) has fallen to  14.7 , well below its historical average of 19.5. Why Puts Look Cheap Now Put option pricing is closely tied to market volatility. With VIX low,  three-month puts  are trading at  relatively low premiums . “Markets at all-time highs and low volatility levels provide an attractive opportunity for hedging,” said Goldman’s Arun Prakash. ETF Opportunities Goldman recommends  three ETFs  with above-average economic sensitivity and che...

Airline stocks have been soaring this earnings season, with investors watching closely as  Southwest (LUV)  and  American Airlines (AAL)  report. These results will be key to confirming whether the  airline sector's comeback  has real lift—or is just turbulence ahead. Sector Overview: The  U.S. Global Jets ETF  is up  ~10% in July , showing renewed optimism. Still, airline stocks lag the broader  S&P 500 , which is up  7% YTD . Delta (DAL)  and  United (UAL)  already delivered  strong earnings , boosting confidence. Now, all eyes are on LUV and AAL to  validate the recovery narrative . Southwest Airlines (LUV) Stock YTD:  +10% in 2025 Q2 Earnings: EPS:  $0.43   (missed estimate of $0.51) Revenue:  $7.2B   (slightly below $7.3B est.) Key Change:  Charging for checked baggage (a historic shift after 54 years) May cause  market share loss  in some cities Expected to...

美国总统特朗普突然宣布从8月1日起对 巴西进口商品征收50%关税 ，引发市场震动。这一举措可能使美国人每天喝的咖啡、早餐喝的橙汁，甚至交通燃料乙醇的价格大幅上升。 咖啡：美国人每天的“必需品”或将变贵 巴西是 美国咖啡最大供应国 ，占2024年美国消费量的 33% 。 分析人士指出，这一关税将使美方烘焙商难以吸收成本，或将停止从巴西采购。 阿拉比卡咖啡期货应声上涨1.3% 。 替代国家如哥伦比亚、秘鲁、越南产量不足，价格更高。 “巴西会把咖啡卖给其他国家，美国只能花更多钱买贵的咖啡。”——咖啡经纪人Michael Nugent 橙汁：供应恐慌推高价格 美国超一半橙汁依赖巴西进口 。 由于“柑橘绿化病”、飓风与寒流影响， 美国橙子产量创88年来新低 。 橙汁期货应声上涨6% ，反映市场对供应短缺的担忧。 乙醇与其他大宗商品：价格或波及更广 巴西是全球第二大乙醇生产国。 虽然2024年对美出口仅3亿升，但在能源结构中仍有影响。 糖类、木材、原油等商品 也可能成为下一个受冲击板块。 投资人关注重点 关注大宗商品ETF、饮料及食品相关个股 （如SBUX星巴克、KO可口可乐、ADM）。 关税引发的食品价格通胀 将影响消费股盈利。 全球供应链可能重构 ，对进口依赖型国家尤为关键。

The first half of 2025 saw ETFs navigating a minefield of rate cut speculation, geopolitical flashpoints, and commodity swings. Three standout signals emerged: 1️⃣  Gold Miners & Hedging Plays:  Gold above $3,500/oz drove leveraged gold mining ETFs sharply higher. Retail traders piled in, but expect volatility ahead if rates stay elevated. 2️⃣  Defense & Security Theme:  Defense ETFs rallied amid Middle East tension and NATO budget increases. Consider them for portfolio diversification with geopolitical tailwinds. 3️⃣  Asia Tech Revival:  South Korean-focused ETFs outperformed as semiconductor exports rebounded. Policy stability and tech momentum could keep this trade alive into 2H. Money Master Take: Stay nimble. Gold & defense offer hedge potential but are prone to sharp reversals. Asia tech exposure could reward long-term holders if earnings momentum continues. Big flows into low-cost Vanguard broad beta ETFs highlight a steady shift to passi...

Smartphones to Smart Cars Xiaomi's second EV, the YU7 SUV, is making headlines —  289,000 pre-orders in the first hour  and an  8% share surge to a lifetime high. This electric move challenges Tesla’s Model Y head-on. Key Specs & Pricing Starting at  253,500 yuan (~US$35,360) Top model:  329,900 yuan , 760km range, 0–100km/h in 3.23s All models with lidar, massage chairs, 800V fast charging Investor Buzz Goldman Sachs raised price target 6% , citing consumer excitement YU7 pre-orders outpaced SU7’s, with buyers allowed to switch models pre-delivery EV unit expected to  reach profitability by 2H 2025 MoneyMaster Take — Key Insights: Xiaomi is scaling fast in EVs  — and challenging legacy players. EV hype is translating to real revenue  — not just headlines. Risks remain  — safety scrutiny, price wars, and regulatory oversight. Our Move: Xiaomi’s EV momentum is real, but the stock has already priced in a lot. Consider a  trailing stop-...

Volatility is the only constant. Since President Trump’s second term began, the markets have been on a rollercoaster. Just look at the  VIX  — Wall Street’s fear gauge — which surged above 65 this week, its highest since last August. That’s a major spike, and it signals traders are bracing for more chaos. Some say that when the VIX peaks, it’s a good time to buy stocks. The problem is — how do you know when it’s peaked? Should You Buy the VIX? In theory, yes. In practice, not so fast. You  can’t buy the VIX index directly . You’d need to invest in VIX ETFs or ETNs. These are not simple or safe — they carry credit risk and don’t always track the VIX well. Case in point: in 2018, one VIX ETN imploded during a spike in volatility, wiping out  $2 billion  in investor assets. That moment was nicknamed  "Volmageddon." Also, these ETFs and ETNs come in different flavors (short-, mid-, long-term), and their performance often  diverges from the VIX itself . Eve...

The investment landscape for emerging markets is shifting as one of the most popular ETFs, the iShares MSCI Emerging Markets ex-China ETF, experiences record redemptions. This marks a stark reversal from 24 consecutive months of inflows that saw the fund’s assets surge by 745%. The reason? China’s recent stimulus efforts and growing optimism surrounding its AI advancements have drawn investors back to the Chinese market, reversing the trend of pouring funds into non-China emerging markets. Despite the ongoing geopolitical frictions, China’s strides in artificial intelligence have positioned it as a dominant player, rejuvenating investor interest. In the last year, Chinese stocks have returned 38%, outperforming both the MSCI ex-China index (1.7%) and the broader emerging market index (9%). The boost follows a volatile but optimistic period for China, with AI innovation and government support boosting investor confidence. However, despite the positive developments in China, concerns abo...

BlackRock Inc. reported a new record for its assets under management , reaching US$11.48 trillion in the third quarter of 2024, marking its third consecutive quarterly high. This surge was driven by strong inflows into the company's exchange-traded funds (ETFs) and a rally in the equity markets. Stock markets rebounded after an August downturn, supported by optimism over a soft landing for the US economy and encouraging inflation data . In the third quarter, BlackRock saw US$160 billion in long-term net inflows, with total net inflows hitting a quarterly record of US$221.18 billion , up significantly from US$2.57 billion a year earlier. Notably, ETFs attracted US$97.41 billion , while clients invested US$62.74 billion into BlackRock’s fixed-income products . The asset manager's success was further bolstered by recent acquisitions. Last week, BlackRock completed its US$12.5 billion acquisition of Global Infrastructure Partners (GIP) , adding over US$100 billion in ass...

Gold prices could face a slight, near-term decline if the Federal Reserve decides on a modest 25-basis-point rate cut this week, according to Goldman Sachs Group Inc. However, the investment bank foresees a subsequent rally, driving the metal to a record high as increased investments flow into bullion-backed exchange-traded funds (ETFs) . “ Fed rate cuts are poised to bring Western capital back into gold ETFs, a component largely absent in the sharp gold rally observed over the past two years,” said analysts Lina Thomas and Daan Struyven . They reiterated Goldman’s forecast for gold to surge to US$2,700 (RM11,542) an ounce by early next year. Gold has been a top-performing commodity this year, climbing by about 25% and setting new records amid increased central bank purchases and expectations of the Fed's shift towards monetary easing. Investors remain divided on whether the US central bank will initiate its easing cycle this week with a half-point reduction or a more caut...

Major financial firms including BlackRock Inc and Invesco Ltd are competing to offer private market investments through exchange-traded funds (ETFs), aiming to make these typically exclusive assets accessible to a broader range of investors. This move could inject new capital into private markets, which have seen explosive growth but are currently facing challenges. Key Takeaways: Growing Interest in Private Markets via ETFs : BlackRock , Invesco , and others are exploring ways to offer private market assets through ETFs. Private markets are valued at over $13 trillion, while ETFs are gaining popularity at the expense of traditional mutual funds. Challenges and Innovations : The primary challenge is the liquidity mismatch between illiquid private assets and the inherently liquid ETF structure. Potential solutions include synthetic exposure through swaps or creating liquid alternative ETFs to mimic private asset performance. Regulatory and Technical Hurdles : The SEC limits open-ended f...

The bond market is experiencing a significant influx of client cash into actively managed ETFs, driven by anticipation of Federal Reserve rate cuts as early as September. This year, investors poured $245 billion into active and index mutual funds and exchange-traded funds (ETFs) in the first half of the year, up from $150 billion in the first half of 2023, according to Morningstar Direct. Key Highlights: Surge in Active ETFs: Active fixed-income ETFs from major players like Janus Henderson Group Plc, BlackRock Inc., Fidelity Investments, and Pacific Investment Management Co. (Pimco) have seen a net inflow of $44 billion by July 12, surpassing the total for all of last year and tripling the amount from 2022. Investor Preference: Investors are increasingly opting for active management, seeking skilled managers to navigate the current market conditions where yields are attractive but spreads are tight. Market Dynamics: Inflows and Strategies: Active bond ETFs have attracted about a thi...

Chinese investors now have a new avenue to invest in Saudi Arabian stocks with the debut of two exchange-traded funds (ETFs) focused on equities in the oil-rich nation. These funds, launched today in Shanghai and Shenzhen, come as China and Saudi Arabia continue to deepen their economic ties. Key Highlights: ETF Listings: Shenzhen Listing: The China Southern Asset Management CSOP Saudi Arabia ETF QDII launched in Shenzhen, raising 634 million yuan (US$87 million or RM408.19 million). Shanghai Listing: The Huatai-PineBridge CSOP Saudi Arabia ETF QDII began trading in Shanghai after raising 590 million yuan. Performance: Both funds traded close to their listing prices as of 10:20 a.m. local time. Investment Opportunities: Diversification: These ETFs provide mainland investors with an opportunity to diversify their holdings internationally, particularly in sectors such as energy and oil. Strategic Timing: The launches come at a time when Beijing is strengthening its ties with Gulf na...

China's sovereign wealth fund has recently increased its activity in exchange traded funds (ETFs) to help stabilize the country's stock market during a period of economic uncertainty. This move follows a significant drop in the Shanghai Composite Index. Key Developments Increased ETF Inflows: Daily inflows into four major ETFs favored by Central Huijin Investment Ltd have more than doubled recently. This spike occurred after the Shanghai Composite Index fell below 3,000 points for the first time since March. Notably, the Huatai-Pinebridge CSI 300 ETF saw significant increases. Market Support: The surge in ETF activity suggests that China’s "national team" is trying to boost market confidence ahead of the Communist Party’s Third Plenum later this month. State funds have previously helped stabilize the market during downturns. Ongoing Challenges: Despite these efforts, the market continues to struggle. The CSI 300 Index is heading for its seventh week of declines, th...