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Business and Market Discussion / View from Taiwan

2021-04-15

Business and Market Discussion / View from Taiwan

2021-04-15
 Crypto-trading platform Coinbase closed its first day of trading on the NASDAQ at $328 compared to a reference price of $250, valuing the cryptocurrency exchange at $86bn. Founded in 2012, the direct listing propels Coinbase into one of the top 100 most valuable companies in the US. The company, which makes money primarily by charging transaction fees, has benefited from the surge in demand for Bitcoin and Ethereuem. Coinbase had more than 56 million users across more than 100 countries, holds $223bn in users' assets and reported estimated revenue of $1.8bn in the first three months of 2021, more than its total for all of 2020.

US stocks slipped from record highs following a selloff in technology shares, but financials outperformed as the big banks kicked off first quarter earnings seasons. The S&P 500 index retreated 0.4% after hitting a fresh record earlier in the session.

The Federal Reserve’s beige book, which provides anecdotal evidence on the health of the US economy, reported the US economy grew at a moderate pace from late February to early April and consumer spending strengthened across the US after the arrival of the latest round of stimulus cheques. Tourism also picks up, particularly in New York, with weekend hotel occupancy rates climbing above 50%.

On today’s Money Talk, we’re joined by personal wealth adviser Enzio Von Pfeil and Nitin Dialdas of Mandarin Capital. With a view from Taiwan is Ross Feingold from SafePro Group.

Money Talk

A fast moving and topical business and finance show bringing you breaking business and economic news and financial market updates. Presented by former CEO and investment bank global trading head Peter Lewis, with over 30 years' industry experience. Join Peter and his expert guests for analysis and discussion on the day's top business stories live every weekday morning 8 to 8:30 a.m. on RTHK Radio 3. We have a podcast to download after the show and you can also listen through the RTHK Radio 3 website live or later in the day. We welcome your questions, comments and feedback to read out in the show. You can email us at moneytalk@rthk.hk, post on our Facebook page "Money Talk on RTHK Radio 3 " or find us on twitter "MoneytalkRadio3") .
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