Precise Investors Editorial Team
Bitcoin was trading nearly 9 per cent lower at just under USD 65,000 early Friday
Asian shares traded mostly lower on Friday. Bitcoin dipped to nearly half its record price. Nikkei 225 was up 0.5 per cent to 54,073.52, recovering from losses earlier this week, with technology-related stocks leading gains.
SoftBank Group gained 1.9 per cent, and chipmaker Tokyo Electron added 3 per cent. Japan will also be holding its general election on Sunday, in which Prime Minister Sanae Takaichi expects to win a stronger public mandate for her policies.
Kospi shed 1.7 per cent to 5,076.69, weighed down by tech shares. Samsung Electronics, the country’s biggest listed company, dropped 0.9 per cent. Chipmaker SK Hynix was down 0.6 per cent.
Hang Seng slipped 1.2 per cent to 26,569.14. The Shanghai Composite index was flat at 4,075.37.
The S&P/ASX 200 slid 1.6 per cent to 8,745.60.
Taiex declined 0.2 per cent.
Against the backdrop of the technology sell-off this week, Bitcoin, the world’s largest cryptocurrency, saw dimming enthusiasm and was trading nearly 9 per cent lower at just under USD 65,000 early Friday, after it briefly dipped more than 12 per cent to below USD 64,000 on Thursday. That’s down from a record of above USD 124,000 in October.
Gold and silver prices have been volatile this week following a months-long rally as investors moved into safe-haven assets, prompted by factors including elevated geopolitical tensions. Gold prices dropped 1 per cent on Friday to USD 4,843.70 per ounce, after nearing USD 5,600 last week.
Silver prices declined 6.6 per cent to USD 71.63 per ounce after rising earlier this week. It shed more than 31 per cent last Friday.
The US dollar dropped to 156.74 Japanese yen from 157.03 yen. The euro was trading at USD 1.1789, up from USD 1.1777.
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