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FINANCE Thursday 16th JUNE

The CSX Index is currently at 498.35 Points down 2.85 points or 0.57%

The Daily Exchange Rate: 4,065 KHR to the USD$

BITCOIN EASES FROM AN 18-MONTH LOW AS THE CRYPTO MARKET STABILIZES.

LONDON/NEW YORK, June 15 - Bitcoin recovered on Wednesday after diving to an 18-month low, buoyed by the U.S. Federal Reserve's tough stance on inflation even in the midst of a market meltdown this week after crypto lender Celsius froze customer withdrawals.

The world's largest cryptocurrency fell as much as 7.8% to $20,079.72, its lowest since December 2020. It has lost about 33% against the U.S. dollar since Friday, dropping more than 50% since the beginning of the year. It has slumped about 70% from its record high of $69,000 in November.

Bitcoin was last down 1.31% at $21,669.37.

Smaller cryptocurrencies, which tend to move in tandem with bitcoin, also fell. Ether, the second largest token, fell to as low $1,013, the lowest since January 2021, and was last down 1.22% at $1,172.76.

The chaos in the crypto market has spread to other companies, with a number of exchanges slashing workforces.

ASIAN SHARES FALL AS FED HIKE RELIEF RALLY FIZZLES

SHANGHAI, June 16 - Asian stocks tumbled and the dollar regained its footing on Thursday as investors continued to digest the impact of surging inflation and an aggressive policy tightening outlook from global central banks.

Stock futures in Europe pointed to a slightly higher open, with pan-region Euro Stoxx 50 futures and German DAX futures up about 0.4% a day after the European Central Bank promised fresh support to temper a bond market rout.

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.46% lower in afternoon trade, erasing earlier gains. Australian shares (.AXJO) slipped 0.20% and Chinese blue-chips (.CSI300) fell 0.62%. Hong Kong's Hang Seng (.HSI) fell 1.31%.

In Tokyo, the Nikkei (.N225) trimmed earlier gains of as much as 2.38%, and was last 0.40% higher.

The euro edged down 0.15% to $1.0427.

U.S. Treasury yields also took a turn lower, reflecting rising risk aversion, with the 10-year yield slipping to 3.3068% from a close of 3.3950% on Wednesday.

The two-year yield fell to 3.2525% from a close of 3.2790% on Wednesday.

In commodity markets, oil prices recovered from a steep drop as investors focused on tight supplies. Brent crude was last up 0.27% to $118.83 per barrel and U.S. crude added 0.49% to $115.88.

Gold was slightly lower as the dollar firmed. Spot gold last traded at $1,831.26 per ounce, down 0.12% on the day.


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