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Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7% year-on-year, prompting a stronger dollar against the yen. Meanwhile, U.S. Treasury yields fluctuated amid mixed economic reports, with the S&P 500 still on track for a strong year despite recent market struggles.
Asian shares showed mixed results as markets awaited U.S. personal spending data. Japan's core inflation rose to 2.7%, prompting a stronger dollar against the yen. Meanwhile, U.S. markets faced volatility, with the S&P 500 still on track for a strong year despite recent fluctuations.
South Korean prosecutors are seeking a six-month prison sentence for lawmaker Kim Nam-kuk, who allegedly failed to report his cryptocurrency holdings, claiming only 1.2 billion won in assets while actually possessing 9.9 billion won. Kim, who left the Democratic Party amid these allegations, is accused of obstructing the National Assembly Ethics Committee's review of his assets. His trial is occurring against a backdrop of political turmoil following President Yoon Suk Yeol's martial law declaration and subsequent impeachment by the National Assembly.
Asian stocks are showing mixed results as investors await the Federal Reserve's final rate decision of the year. In related news, Japanese automakers Nissan and Honda have confirmed ongoing discussions aimed at closer collaboration.
South Korea's antitrust regulator has fined Kakao Mobility $10.5 million for unfairly restricting competitors' access to its dominant taxi-hailing platform, Kakao T, which holds a 96% market share. This penalty is a reduction from an earlier $50.3 million fine due to overestimated profit calculations. Additionally, Kakao Mobility faces a $2.47 million fine from the Financial Services Commission for accounting fraud, with the case referred to prosecutors for further investigation.
Asian shares mostly declined following a record-setting day for the Nasdaq ahead of the Federal Reserve's upcoming interest rate decision. Tokyo's Nikkei 225 fell 0.2%, while Chinese markets continued to slide, with the Hang Seng down 0.1% and the Shanghai Composite losing 0.7%. In the U.S., the S&P 500 rose 0.4% and the Nasdaq climbed 1.2% to a record close, driven by strong performance from Broadcom. The Fed is expected to announce a third consecutive rate cut, aiming to support the job market as inflation stabilizes near its 2% target.
The US Ethereum spot ETF experienced a significant inflow of approximately $51.1 million, marking the 16th consecutive trading day of net inflows. Notably, BlackRock ETHA led with about $30.7 million, followed by Fidelity FETH with $4.1 million, Bitwise ETHW with $8.7 million, and Grayscale Mini ETH with $7.6 million. Other products reported no net inflows or outflows.
Upbit's listing of MOCA Network has triggered a staggering 7,500% surge in trading volume, reaching $1.32 billion, and a 160% price rally, peaking at $0.426. A whale moved 9.5 million MOCA tokens to Bybit, potentially netting a $2.55 million profit. Additionally, Animoca Brands secured $10 million in funding for Mocaverse, aiming to enhance its Web3 infrastructure and digital property rights, with over 1.79 million Moca IDs registered and partnerships with major platforms underway.
BYDFi has officially joined South Korea’s CODE VASP Alliance, enhancing its compliance with local regulations, including the 'Travel Rule' for crypto transactions. This partnership, which integrates VerifyVASP's compliance services, underscores BYDFi's commitment to safety and transparency in the crypto market. Co-founder Michael Hung highlighted that this milestone significantly advances their global compliance strategy and user security.
BYDFi has officially joined South Korea’s CODE VASP Alliance, enhancing its compliance with local regulations and integrating a Travel Rule compliance solution. This partnership, aimed at meeting stringent AML and CFT standards, marks a significant step in BYDFi's commitment to providing a secure and transparent trading environment. Co-founder Michael highlighted the importance of this collaboration in strengthening user security and advancing the platform's global compliance strategy.
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