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South Korea's Constitutional Court reinstated Prime Minister Han Duck-soo as acting president by overturning his impeachment, while the court has yet to rule on President Yoon Suk Yeol's impeachment. The ruling may embolden Yoon's supporters amid ongoing political strife following his controversial martial law declaration. Han emphasized the need for national unity and urgent attention to global trade issues after his reinstatement.
Bitcoin's market dynamics have shifted significantly since the launch of spot ETFs, with net inflows of $36 billion in the first year and assets under management reaching $110 billion. Amid political turmoil in Korea, Bitcoin has emerged as a safe haven, while fears of government sales, particularly from the US and China, have triggered market volatility. The potential establishment of national Bitcoin reserves could reshape the landscape, encouraging passive holding and increasing global competition.
Asian stock markets fell as the dollar reached a 14-month high following a strong U.S. payroll report, which raised bond yields and dampened equity valuations. Expectations for Federal Reserve rate cuts have diminished, with a focus on upcoming U.S. consumer price data that could influence future monetary policy. Oil prices surged amid supply concerns, while China's export growth added to trade tensions with the U.S.
South Korea plans to reintroduce crypto exchange-traded funds (ETFs) in 2025 after a seven-year ban, motivated by the global success of Bitcoin and Ethereum ETFs. The Korea Exchange is studying international examples to establish a framework, aiming to revitalize its financial market. Additionally, the Financial Services Commission is preparing to implement Security Token Offerings (STOs) alongside these developments, despite facing political challenges.
South Korea is poised to ease its restrictions on institutional crypto trading, allowing access to local exchanges for non-profit organizations as part of a broader effort to support the crypto sector. This shift follows the enactment of the Virtual Asset User Protection Act, aimed at enhancing investor safeguards and combating crypto crime, including severe penalties for scams exceeding $4 million. However, recent political turmoil and the declaration of martial law have stalled critical reforms, including the legalization of securities token offerings and the introduction of real-name corporate accounts.
Global stocks showed mixed results as Wall Street rebounded from holiday lows. Japan's Nikkei 225 fell 1.5% amid concerns over U.S. investment policies, while South Korea's Kospi surged 1.9% driven by gains in tech stocks. The S&P 500 and Dow Jones saw modest increases, reflecting ongoing economic resilience despite high interest rates.
Asian stock markets showed mixed results as political uncertainty loomed over Canada with reports of Prime Minister Justin Trudeau's potential resignation. The Canadian dollar strengthened, while the U.S. dollar remained supported by high yields ahead of key economic data, including the December payrolls report. Japan's Nikkei fell 1.8%, influenced by rising JGB yields, while South Korean stocks gained 1.6%.
Asian stocks showed mixed results as Tokyo and China markets declined following Wall Street's recovery from holiday lows. Japan's finance minister emphasized economic growth through wage increases, while concerns lingered over potential trade policy changes under President-elect Trump. Despite a report of growth in China's services sector, markets reacted cautiously, with the Nikkei 225 down 1.6% and the Hang Seng and Shanghai Composite both slipping 0.5%. In contrast, South Korea's Kospi rose 1.8%, buoyed by gains in major tech stocks.
Asian stocks showed a cautious start to 2025, with Japan's markets notably declining as investors reacted to hawkish Federal Reserve comments and upcoming economic data. Japan's index fell 1.3%, pressured by weak automobile sector performance and a failed takeover of U.S. Steel by Nippon Steel. Meanwhile, South Korea's market surged 1.6% amid political turmoil, while China's stocks remained steady, focusing on anticipated fiscal stimulus to combat deflation and a struggling property market.
South Korea's Stock Exchange chairman, Jeong Eun-bo, announced plans to explore crypto-based ETFs in 2025 as part of a strategy to enhance market value amid ongoing economic challenges. Despite a ban on crypto ETFs since 2017, recent discussions by the Financial Services Commission indicate a potential regulatory shift influenced by the success of overseas crypto products. However, new regulations are currently stalled due to a political crisis following the impeachment of President Yoon Suk Yeol.
Yoon Suk Yeol
People
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