UBS Global Wealth's Lee on Outlook for Chinese Equities in Second Half of 2025
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11 minutes ago
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‘Reliable': China's big call on Albo trip
Anthony Albanese has landed back in Australia after six days abroad touting Australia's trade and tourism offerings in China. The Prime Minister has been keen to reframe the Australia-China relationship in friendlier terms, steering away from the increasingly militaristic tone to focus on a peaceful coexistence ensured through deeper economic interdependency. 'Overwhelmingly, what we discuss as moving forward is issues of today and tomorrow, rather than the past,' Mr Albanese told reporters on his final day in Chengdu, a major research hub in western China. 'What I speak about is the potential that's there to grow the relationship, to develop further economic ties. 'We – of course, as I've said repeatedly – we co-operate where we can, we disagree where we must, but we don't want those disagreements to define our relationship either. 'So what we do is talk about how we can co-operate further in the future.' His message has gone down well in Beijing, with Chinese state media eagerly lapping up every photo op and flattering remark Mr Albanese made. The Global Times is a leading English-language propaganda mouthpiece for the Chinese Communist Party (CCP). Doing its best to imitate a Western-style publication, it is often used to circulate the CCP's various pet peeves and routinely takes scathing shots at Australia. But the Chinese government tabloid has had only good things to say after Mr Albanese met with Xi Jinping and other party top brass in the middle of the trip. 'The most important insight this gives us is that treating each other as equals, seeking common ground while shelving differences, and engaging in mutually beneficial co-operation serve the fundamental interests of both China and Australia and the two peoples,' it cited the Chinese President as saying in his remarks at the top of the big meet — a striking similarity to Mr Albanese's own words. More tellingly, it summed up the state visit as a revival of 'Australia's independent China policy', speaking to the elephant in the room. Donald Trump has made clear China is the main game when it comes to the foreign policy focus of his second administration. Its exploding middle class and relentless growth is evidence of an economic model that could rival the US. Similarly, China's rapid expansion of its nuclear and conventional arsenals has raised questions about how it might use its might, sparking warnings from Washington that Mr Xi is eyeing an invasion of Taiwan. It is with that concern that US Defence Secretary Pete Hegseth demanded the Albanese government hike Australia's defence spending to at least 3.5 per cent — a request Mr Albanese has rejected even as his deputy and defence minister, Richard Marles, said China's military build-up is driving 'security anxiety' in Canberra. Brushing off the Trump administration's warnings as needless warmongering, the resistance to the US defence demand has not gone unnoticed in Beijing, which has eagerly seized on global trade uncertainty driven by tariffs. In an opinion piece on Thursday, the Global Times said Mr Albanese's 'trip has come at a time of global turmoil instigated by the US'. 'The prime minister's critics are accusing him of prioritising the China relationship over the US relationship, but this is a misrepresentation,' it read. 'The simple reality is that China is a reliable partner.' The piece went on to say 'Australia's relationship with the US has deteriorated' due to tariffs imposed 'despite Australia being the US' most reliable ally'. 'The contrast between China's steady reliability and the US' erratic demands is being noticed by the Australian people – opinion polls in Australia show falling confidence in the US and rising confidence in China,' it claimed. Throughout the trip, Mr Albanese has leaned heavily on his mantra of co-operating with China where possible and disagreeing where necessary, making clear chasmic differences remain between Canberra and Beijing. But his messaging from the glitz of central Shanghai, to the Great Hall of the People in Beijing, and the panda breeding capital of Chengdu, is that peace through trade and people-to-people ties are the best ways to navigate the challenges in the relationship. It is not a new approach — the EU took it with post-Soviet Russia and was blindsided after the 2022 invasion of Ukraine. Whether Mr Albanese's China push will make Australia vulnerable down the line will be a matter for future generations.
Yahoo
16 minutes ago
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Bitcoin, Ethereum, XRP Lead Crypto Market Cap Rebound Above $4 Trillion
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The total cryptocurrency market capitalization has exceeded $4 trillion, led by strong price movements in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and XRP (CRYPTO: ETH), according to CoinGecko's 2025 Q2 report. What Happened: Bitcoin accounts for 59.9% of the market and Ethereum 10.8%, according to the report. XRP has also emerged as a top performer. The asset has surged past $3.60, lifting its market capitalization above $210 billion and positioning it as the third-largest cryptocurrency. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — On South Korea's leading exchange Upbit, XRP/KRW trading volume reached $2.2 billion in the last 24 hours, representing 33% of the platform's total volume. This spike reflects the broader pattern of intense retail trading activity in Korea, where XRP has historically enjoyed strong investor interest due to its low unit price, high volatility, and familiarity among local traders. Korean markets often exhibit concentrated volume around select tokens, and XRP has consistently been one of the top-traded assets in the region. The recent price surge likely triggered momentum-based buying, further amplified by Upbit's KRW pairs, which offer direct fiat access, a key factor in Korea's retail-driven market structure. 'This quarter shows a market that's recovering in value but shifting in structure,' the CoinGecko report stated. 'Spot volumes on centralized exchanges are down, while DEX activity continues to climb.' Why It Matters: The report highlights a 24% increase in total market value for Q2, with $663.6 billion in recovered capital bringing the market to $3.5 trillion by the end of June. Continued price appreciation in early Q3 has now propelled the total to over $4 trillion. "Capital flowed overwhelmingly into BTC," the report noted, "pushing its market dominance past 62%, while altcoins struggled to regain momentum." Despite the altcoin weakness, Ethereum was the only top-7 non-BTC asset to post a gain in decentralized exchanges posted their strongest quarter yet. Spot DEX trading volume grew 25.3% quarter-on-quarter to $876.3 billion, pushing the DEX-to-CEX volume ratio to an all-time high of 0.23. PancakeSwap (CRYPTO: CAKE) emerged as the largest DEX, capturing 45% of Q2 trading volume after Binance Alpha began routing trades through its liquidity pools. Perpetual trading on decentralized platforms also reached record highs. Hyperliquid (CRYPTO: HYPE) accounted for 72.7% of DEX perp volume, registering $653.2 billion in Q2. The total for all decentralized perp platforms stood at $898 billion. Adding to market momentum was Circle's (NYSE:CRCL) IPO, which was oversubscribed 25 times. The stock debuted at $31 and peaked at $298.99 within weeks. "The price action of CRCL post-IPO was extremely volatile," the report noted, but it ended the quarter as a bellwether for crypto-equity crossovers. What's Next: Despite the broader market rebound, centralized exchange activity lagged. Spot trading volume across major CEXes fell by 27.7% to $3.9 trillion in Q2, with Binance remaining the top platform despite declining volumes. 'The data signals more than just recovery,' CoinGecko wrote. 'It reflects a deepening shift toward decentralization in both infrastructure and trading behavior.' Read Next: Named a TIME Best Invention and Backed by 5,000+ Users, Kara's Air-to-Water Pod Cuts Plastic and Costs — And You Can Invest At Just $6.37/Share If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article Bitcoin, Ethereum, XRP Lead Crypto Market Cap Rebound Above $4 Trillion originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
41 minutes ago
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Rafa Yuste set to leave Barça for Saudi Arabia imminently
Rafa Yuste, current sporting vice president of FC Barcelona, is about to finalize his move to Al Nassr of Saudi Arabia. According to the newspaper Sport, the deal is imminent and the executive will not be part of the Barça delegation that will travel to Asia for the pre-season tour. The Saudi club, which is looking to strengthen not only its squad but also its executive structure, is said to have offered Yuste the position of CEO. This possible departure is a heavy blow for Joan Laporta's project, as Yuste has been a key figure in the club's negotiations and sporting planning in recent years. The final decision could be made official in the coming days, thus confirming a new stage in the Catalan executive's career in a rapidly expanding football environment like Saudi Arabia. This article was translated into English by Artificial Intelligence. You can read the original version in 🇪🇸 here. 📸 Eric Alonso - 2024 Getty Images
