Asian Stocks Slip after Better Trading Yesterday

Cutting the losses in the last four days, yesterday Asian stocks were on a bright trade; however, that mood did not last long as today they fell to an extent. The MSCI Asia Pacific Index (TPX) slid 0.5 percent as of 1:56 p.m. in Tokyo. Following the trend even Japan’s Topix declined 0.4 percent and Standard & Poor’s 500 Index futures dropped 0.1 percent.

Amidst the expectations that U.S. growth data today and payrolls figures tomorrow may determine the mood of the Federal Reserve policy makers, Asian stock trading started with caution. According to some estimates the U.S. economy probably grew at a 2 percent annualized rate in the third quarter; however, this number is not enough for the Fed to taper its stimulus.

Particularly, when the unemployment rate increased to 7.3 percent from 7.2 percent in the previous month, William English, head of the Fed’s Division of Monetary Affairs, believes that the strategy of not raising interest rates is expected.

Twitter IPO Begins but Brings Bad Trade for Facebook and LinkedIn

Twitter Inc. raised $1.82 billion in its initial public offering which in fact is the largest IPO by a technology company since Facebook Inc.’s that took place in the last year. However, this news brought in negative trade for two other social networking companies Facebook and LinkedIn which slipped Wednesday, may be investors are willing to buy Twitter shares now than these two.

Reportedly, Twitter Inc. sold 70 million shares at $26 each. Earlier it offered the shares for $23 to $25. Earlier, while Facebook shed 2% to close at $49.12, LinkedIn declined 1.7% to close at $220.78. These two companies, particularly, Facebook has been faring better recently whose stocks gained strength after and trading close to $50.

Some other social network sites too declined in yesterday’s trading. Whereas shares of Groupon declined 2.7% to close at $10.01, Yelp was down by 6.4% to close at $66.61. Following the trend Zynga Inc. shed 2.5% to close at $3.71 amidst the news that Twitter is faring better and its shares are expected to rise even more.

Mixed Reactions to Twitter IPO

According to various reports reactions on Twitter’s IPO debut have been mixed. Whereas some analysts are warning against too much hype, some others see a potential in its shares and suggesting for investments. Caution was obvious as the investors have already seen the Facebook fiasco.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com

Jonathan Millet is currently the proud CEO of ForexMinute.com, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it off...

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Bitcoin Landscape Changes in Canada for the Better

Victor Hugo had said, “None can stop the idea whose time has come.” It looks like the idea of Bitcoin has come finally as the first ever BTC ATM has arrived in Canada. The stage was set for Bitcoin ATM a couple of months ago when the idea was germinated by Bitcoiniacs – we had reported this earlier in September.

Canada, the country which has been a country that welcomed Bitcoin wholeheartedly, has become part of history now with its first BTC ATM. The 27-year old, Mitchell Demeter, owner of Bitcoiniacs had insisted that Bitcoin kiosks would be a better option for customers to buy and sell Bitcoins and hopefully drive the adoption of Bitcoin, now the company has executed it perfectly well. Demeter believes that it will help make a mainstream currency.

Canada has Favorable Circumstances for BTC

Canada has a lot of customers and Bitcoin supporters who now prefer exchanging their Canadian dollar for Bitcoin. To convert their Canadian dollars to Bitcoin they use the services from Bitcoiniacs, a physical store in Vancouver that acts like a Bitcoin broker. Many of these customers consider that buying BTC from a physical store can be tedious at times and incurs discomfort.

However, now that things have changed and the first Bitcoin ATM has come up in Vancouver, things are not going to remain the same. May be this idea spreads around the world and various other cities get their BTC ATMs soon. A revolution has just begun and will not be stoppable. Bitcoin is getting new supporters and gaining popularity and acceptance from all corners excluding of some skeptical governments.

BTC ATM Will Change the Way Bitcoins Are Being Transacted

BTC ATMs are going to transform the way Bitcoins have traditionally been bought and sold. In fact, now there won’t be any requirement for customers to visit brokers to exchange their Canadian dollars into Bitcoin; rather, they can go to the Bitcoin ATM and get their virtual currency instantly.

Bitcoin supporters are delighted over the news and realize that it will be much more comfortable for them than ever to get user-friendly professional transactional experience with BTC ATMs.

Proactive Approach from Bitcoiniacs

A couple of months ago Bitcoiniacs had decided to install five Bitcoin kiosks from a Las Vegas-based company called RoboCoin so that it could cater its customers exchange their Canadian dollars with Bitcoin. The company had then declared that Apart from Vancouver Toronto, Montreal, Calgary and Ottawa would be getting a machine each.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

Deepak Tiwari, a law graduate, has been working as a journalist for six years now. He currently writes on Bitcoin, economic, and Forex related news at ForexMinute, the brand new financial news portal ...

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