News

BlockBeats News, March 11th, T. Rowe Price portfolio manager Vincent Chung stated in a report that due to the need for time to reassess the current geopolitical situation, the Bank of Japan may maintain its interest rate in March. He believes that the Bank may take monetary policy action in April as wage negotiation data will be available by then. He stated that recent increases in oil prices have heightened inflation risks, and persistently high oil prices could become a long-term drag on central bank policy. Chung also pointed out that the market may be concerned about potential yen intervention, but the recent yen depreciation is in line with other foreign exchange peers. He added that if the Bank of Japan sends a dovish signal at the March meeting, it may exert further pressure on the yen. (FXStreet)

Golden Ten Data reported on March 11 that Saudi mining company Saleh saw its stock price surge during its debut in Riyadh. Despite the ongoing war between the US, Israel, and Iran entering its 12th day, and continued missile and drone attacks targeting the Gulf region, the company managed to withstand the pressure. The stock price of this mining and building materials company soared by as much as 20%, reaching 54.20 riyals (with its issue price set at 45 riyals on February 9), before narrowing its gains to 51.80 riyals. Trading was temporarily suspended within the first 20 minutes after opening. Notably, the issue price was determined more than two weeks before the outbreak of hostilities. Compared to the UAE, Saudi Arabia faces fewer direct attacks from Iran. Nevertheless, several companies in the UAE still plan to go public as early as this year, with potential large-scale deals including Emirates Global Aluminium and Saudi contractor Mutlaq.

Foresight News reports, according to Newsis, that Bycell Standard, the operator of the Korean token securities (STO) platform PIECE, has completed a 4 billion KRW (approximately 2.7 million USD) Series A financing round. Investors include Xperix Group, S&S, among others, with Xperix Group becoming its main strategic shareholder. The new funds will be used for acquiring underlying assets for new products, talent recruitment, and applying for investment intermediary licenses.Bycell Standard is one of seven multi-asset issuers in Korea approved for business restructuring by the Financial Services Commission’s Securities and Futures Commission, and is also a member of the KDX Alliance with preliminary licensing.