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Politico
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DOJ calls for Powell to fire Cook over fraud accusation
Martin's letter, which was first reported by Bloomberg, was sent as President Donald Trump and administration officials have sought to pressure Fed policymakers into lowering interest rates. Trump has called for Cook's resignation. Federal Housing Finance Agency Director Bill Pulte sent a criminal referral to the Justice Department last week alleging that Cook had claimed two separate homes as a primary residence. The combative FHFA director has logged similar referrals for Sen. Adam Schiff (D-Calif.) and New York Attorney General Letitia James — and on Thursday said his agency was investigating Cook over a separate property. Fed board members can be removed only by the president 'for cause,' a provision that has not been fully litigated but has generally been interpreted to mean that the president can't fire a central banker over policy disagreements. Cook was nominated by President Joe Biden and confirmed by the Senate on a party-line vote in 2022. While Pulte has said that he believes that Trump has enough evidence to fire Cook for cause, it's unclear how Powell could act. The Federal Reserve Act offers no indication that the chair can dismiss board members. Fed spokesperson Darren Gersh declined to comment. Martin did not immediately respond to requests for comment. Cook has denied wrongdoing and said on Wednesday that she has 'no intention of being bullied to step down from my position because of some questions raised in a tweet.'
CNBC
a few seconds ago
- CNBC
Asia-Pacific markets set to rise as investors look ahead to U.S. Fed chair Powell's speech
Asia-Pacific markets were set to mostly climb Friday as investors look to U.S. Federal Reserve Chair Jerome Powell's speech at the central bank's annual economic symposium, which could offer clues into the path of interest rates. Japan's benchmark Nikkei 225 is set to open higher, with the futures contract in Chicago at 42,700 while its counterpart in Osaka last traded at 42,640, against the index's last close of 42,610.17. Futures for Hong Kong's Hang Seng index stood at 25,192, higher than its last close of 25,104.61. Australia's benchmark S&P/ASX 200 is set to fall with futures standing at 8,971, lower than the index's close of 9,019.1. The index crossed the 9,000 mark for the first time Thursday. Overnight stateside, stocks fell broadly Thursday, with the S&P 500 sliding for the fifth day in a row. The broad-market index shed 0.4% and closed at 6,370.17, while the Nasdaq Composite slid 0.34% and settled at 21,100.31. The Dow Jones Industrial Average fell 152.81 points, or 0.34%, ending at 44,785.50. Fed funds futures are pricing in a nearly 74% likelihood of the central bank cutting rates at its next policy gathering in September, according to CME's FedWatch tool.
Yahoo
29 minutes ago
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Asian Market Value Picks Trading Below Estimated Worth In August 2025
As global markets navigate the complexities of inflation data and interest rate speculations, Asian indices have shown resilience, with Japan's stock markets reaching record highs and Chinese stocks advancing amid renewed trade negotiations. In such an environment, identifying undervalued stocks becomes crucial as investors seek opportunities that may offer potential growth despite broader economic uncertainties. Top 10 Undervalued Stocks Based On Cash Flows In Asia Name Current Price Fair Value (Est) Discount (Est) Xi'an NovaStar Tech (SZSE:301589) CN¥160.67 CN¥312.31 48.6% Sunjin Beauty ScienceLtd (KOSDAQ:A086710) ₩10720.00 ₩21037.18 49% SRE Holdings (TSE:2980) ¥3115.00 ¥6106.05 49% SK Biopharmaceuticals (KOSE:A326030) ₩97200.00 ₩189933.83 48.8% Matsuya R&DLtd (TSE:7317) ¥717.00 ¥1428.98 49.8% Lotes (TWSE:3533) NT$1350.00 NT$2686.73 49.8% Kolmar Korea (KOSE:A161890) ₩79600.00 ₩155807.48 48.9% Jiangxi Rimag Group (SEHK:2522) HK$19.16 HK$37.57 49% Fositek (TWSE:6805) NT$1060.00 NT$2092.67 49.3% EROAD (NZSE:ERD) NZ$2.35 NZ$4.63 49.2% Click here to see the full list of 269 stocks from our Undervalued Asian Stocks Based On Cash Flows screener. Underneath we present a selection of stocks filtered out by our screen. Dekon Food and Agriculture Group Overview: Dekon Food and Agriculture Group operates in the livestock and poultry breeding and farming sectors, with a market cap of HK$34.42 billion. Operations: The company's revenue is primarily derived from the sales of pigs (CN¥21.32 billion), poultry (CN¥3.07 billion), and ancillary products (CN¥6.12 billion). Estimated Discount To Fair Value: 44.3% Dekon Food and Agriculture Group is trading at HK$88.5, significantly below its estimated fair value of HK$159.01, suggesting it may be undervalued based on cash flows. Despite recent volatility in share price and a decline in net income for the first half of 2025, the company expects substantial profit growth due to improved management efficiency and reduced pig costs. Revenue growth is projected to outpace the Hong Kong market, reinforcing its value proposition. The growth report we've compiled suggests that Dekon Food and Agriculture Group's future prospects could be on the up. Get an in-depth perspective on Dekon Food and Agriculture Group's balance sheet by reading our health report here. InnoCare Pharma Overview: InnoCare Pharma Limited is a biopharmaceutical company focused on discovering, developing, and commercializing drugs for cancer and autoimmune diseases in China, with a market cap of HK$37.30 billion. Operations: InnoCare Pharma Limited generates revenue by discovering, developing, and commercializing therapeutic drugs targeting cancer and autoimmune diseases within the Chinese market. Estimated Discount To Fair Value: 22.2% InnoCare Pharma, trading at HK$19.05, is undervalued with a fair value estimate of HK$24.49, reflecting over 20% potential upside based on cash flows. The company's revenue grew significantly to CNY 731.43 million for H1 2025 from CNY 419.74 million a year ago, while net losses narrowed considerably to CNY 30.09 million from CNY 261.84 million, driven by robust oncology pipelines and innovative drug development efforts in solid tumors and hematologic malignancies. In light of our recent growth report, it seems possible that InnoCare Pharma's financial performance will exceed current levels. Click here to discover the nuances of InnoCare Pharma with our detailed financial health report. Kinik Overview: Kinik Company produces and sells abrasives, cutting tools, and reclaimed wafers both in Taiwan and internationally, with a market cap of approximately NT$47.92 billion. Operations: The company's revenue is divided into two main segments: The Electronics Sector, generating NT$3.73 billion, and The Traditional Sectors, contributing NT$3.85 billion. Estimated Discount To Fair Value: 43.6% Kinik, trading at NT$327, is undervalued with a fair value estimate of NT$579.61. The company's earnings are projected to grow significantly at 32.7% annually, outpacing the TW market's 15.4%. Recent results show sales increased to TWD 2.11 billion in Q2 2025 from TWD 1.73 billion a year ago, with net income rising modestly to TWD 266.37 million from TWD 253.67 million, reflecting strong operational performance amidst favorable cash flow valuations. According our earnings growth report, there's an indication that Kinik might be ready to expand. Take a closer look at Kinik's balance sheet health here in our report. Next Steps Delve into our full catalog of 269 Undervalued Asian Stocks Based On Cash Flows here. Hold shares in these firms? Setup your portfolio in Simply Wall St to seamlessly track your investments and receive personalized updates on your portfolio's performance. Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe. Interested In Other Possibilities? Explore high-performing small cap companies that haven't yet garnered significant analyst attention. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include SEHK:2419 SEHK:9969 and TWSE:1560. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@
