The depreciation of the Japanese Yen triggers a chain reaction in the Sanhe market, with a showdown between bulls and bears imminent.

Bank of Japan Stays on Hold, Yen Exchange Rate Falls Below 157 Level

The Bank of Japan has proceeded with its rate hike as expected, raising the benchmark interest rate to 0.75%, the highest in nearly thirty years. However, market expectations were disappointed — Governor Ueda Kazuo did not reveal any timetable for the next rate increase, signaling a clear lack of hawkishness.

As a result, risk appetite sentiment instantly reversed, and the yen experienced a wave of selling. The USD/JPY exchange rate broke through the 157 level, rising by 1.05% to hit a recent high. This yen depreciation not only impacts the forex market but also foreshadows subsequent trends in the Sanhe market.

US Stock Futures Rise, Oracle Leads Tech Stocks

Before the US market opens on December 19, the three major stock index futures all moved higher. Among them, Dow futures rose 0.14%, S&P 500 futures increased 0.33%, and Nasdaq 100 futures gained 0.43%, reflecting strong sentiment in tech stocks.

Oracle (ORCL) performed remarkably, with its stock price soaring 5.95%, benefiting from positive developments in TikTok transactions and negotiations over OpenAI funding. Nvidia (NVDA) rose 1.36%, Tesla (TSLA) increased 1.13%, with tech giants taking turns leading the rally.

“Triple Witching” Sparks Market Activity, $7.1 Trillion in Options Expiring

Today marks the “Triple Witching” — a market event where over $7.1 trillion in nominal value of options contracts are set to expire, with about $5 trillion linked to the S&P 500 index, setting a historic record.

Such large-scale expirations often amplify trading volume and volatility. Whether the S&P 500 can hold the critical support at 6800 points has become the focus of the entire market. Analysts are closely monitoring this moment of bullish and bearish confrontation.

Cryptocurrencies Surge, Bitcoin and Ethereum Rebound Imminent

The lack of hawkish signals from the Bank of Japan has instead boosted market risk appetite, leading to a rally in crypto assets. According to the latest data, Bitcoin (BTC) is currently at $87,650, up 0.46% in the past 24 hours; Ethereum (ETH) is at $2,950, down slightly by 0.37% in the short term, but long-term support remains solid.

Notably, about $23 billion worth of Bitcoin options contracts will expire next Friday. This massive options position could further amplify market volatility, and the Sanhe crypto market will face a new test.

Precious Metals Diverge, Funds Shift from Gold to Platinum

The precious metals sector shows a stark contrast. Platinum and palladium have risen for seven consecutive days, with platinum up 0.66% to $1,962 per ounce, while gold remains volatile near its all-time high, showing a clear divergence.

This reflects subtle changes in market capital allocation — some investors are shifting from overvalued gold positions to relatively undervalued and more flexible metals like platinum and palladium, creating a noticeable capital outflow effect and bringing new structural opportunities for precious metals investment.