#marketnews

✋ Hello there, traders, and welcome to Tuesday's trading session! Let's check the news moving the financial markets today:

☄️ The US and its allies are intensifying the global semiconductor race, investing nearly $81 billion in advanced chip production to outpace China.

🇪🇺 The ECB hesitates to cut rates as wage growth, notably a 4.8% rise in Germany, risks keeping inflation above 2%.

🇯🇵 Japanese 20-year bond yields hit a decade peak of 1.77%, spurred by BOJ moves to cut bond purchases amid yen depreciation possibly.

📝 Sony reported a 7% drop in annual operating profit and narrowly missed its revised PlayStation 5 sales. Sony (#sony) shares are up 1.02%.

📈 Chinese tech stocks are rising ahead of Tencent and Alibaba's earnings reports today. Tencent (#tme) shares soared 11.02%, while Alibaba (#alibaba) shares are up 5.68%.

🇬🇧 The UK unemployment rate has increased to 4.3%, the highest since last summer, potentially prompting the Bank of England to consider interest rate cuts.

💡 OpenAI has launched the new GPT-4o model and a desktop version of ChatGPT, making GPT-4 free for all users.

💰 Retail participation in the current Bitcoin rally is subdued. Coinbase's trading volumes are at $56 billion, far below the $133.75 billion from the 2021 peak.

That's it for today, guys! Click on ❤️if you liked our review, and see you soon!

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