South Korea Financial News

Investing.com-- Most Asian stocks fell on Wednesday as Federal Reserve officials downplayed expectations for early interest rate cuts, while economic growth figures from China largely underwhelmed markets.

Terraform Labs and co-founder Do Kwon over an alleged $40 billion cryptocurrency fraud, to allow time for Kwon to be extradited so he can attend. In an order, US District Judge Jed Rakoff in Manhattan pushed back the trial to March 25 from Jan. 29, with no further delays even if Kwon were not extradited.

A South Korean bankruptcy court judge has called on the government to bolster regulation in the crypto industry, claiming investors need more protection.

Sensex declined 199.17 points, or 0.27%, to close at 73,128.77, while the Nifty 50 settled 65.15 points, or 0.29%, lower at 22,032.30. “Following global cues, domestic equities took a breath after rallying in the last few sessions. Overall we expect the market to consolidate in higher zones," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Samsung is finally launching its much-awaited flagship S24 series at the Galaxy Unpacked event tomorrow. The event will see the launch of 3 new smartphones: Galaxy S24, Galaxy S24+ and Galaxy S24 Ultra. The event is set to take place on January 17 at 1 pm ET (11:30 PM IST) in San Jose, California and the South Korean phone maker may introduce new innovative 'Galaxy AI' features.

₹10,800 crore). The firm, which is betting big on green hydrogen, has appointed global consulting firm EY to look for buyers. There is a huge interest in green hydrogen in the country, with 5.8 million tonnes (mt) of green ammonia capacity coming up.

NEW DELHI : India is taking a tough stand on non-tariff barriers being imposed on Indian exports by other countries and would also take similar measures on a reciprocal basis, Commerce and Industry Minister Piyush Goyal said on Tuesday. He asked the industry to share a list of such measures so that India can flag them with the respective nations. Many of India's exports suffer due to such barriers which include cumbersome prior registration requirements, higher pesticide levels, and unreasonable domestic standards/rules in many countries.

There is no such thing as a boring day in the non-fungible token (NFT) world.

Emerging-market stocks have dropped in the first half of January, something that hasn’t happened since 2016. Sentiment has taken a knock from growing uncertainty about when the Federal Reserve will begin to loosen monetary policy, with traders keenly awaiting a speech by Fed Governor Christopher Waller later Tuesday for insights. Meanwhile, investors are scrambling to price a host of geopolitical events from the Middle East to the US, where markets are weighing a potential return of Donald Trump to the White House. MSCI Inc.’s index of developing-nation stocks slumped 1.2% on Tuesday, the most in almost two weeks, to trade at its lowest since Dec. 14 and extending its January declines to 4%. The currency index was led lower by South Korea’s won and the rand as a gauge for dollar strength rose to a one-month high. The last two comparable bad starts to a year have preceded major emerging-market rallies. In 2016, the January slump followed the first Fed rate hike in almost a decade. Higher US rates sparked a brief capital flight from riskier assets, leading to an 11% plunge by mid-January of 2016. However, things soon turned around as investors chased cheaper valuations, and EM stocks began a two-year, $8.3 trillion rally. Something similar happened in 2009. The Fed dropped benchmark interest rates to near zero in December 2008, but investors fretted over the lingering effects of the global financial crisis and continued to dump emerging-market stocks well into January. Months later, as the US began a bull market, sentiment toward EM improved too, driving the MSCI gauge 75% higher over 2009. Easing Volatility Underpins Case for Emerging-Market Rebound

The U.S. Securities and Exchange Commission (SEC) has filed in agreement with Terraform Labs to postpone the civil trial against Do Kwon and his former company, amid ongoing extradition proceedings.

Rapid economic growth, stable monetary policies, and a boom in credit have raised the purchasing power of India's wealthiest over the past decade. The number of Indians with annual earnings exceeding $10,000 has soared from 24 million in 2015 to 60 million, now constituting 4.1% of the nation's population, a Goldman Sachs report on Friday said. The significant increase in the value of financial and physical assets in the past three years is what has powered this new affluence.

Investing.com-- Most Asian currencies retreated on Tuesday, while the dollar advanced as traders remained largely risk-averse before more cues on when the Federal Reserve could begin cutting interest rates.

Mint on 29 December reported that the union government was considering a 50% duty on the export of molasses to augment supplies for meeting India's target for cleaner and more efficient ethanol-blended petrol. The government aims to achieve its E20 (20% ethanol blended petrol) target by 2025-26 from its present 12%. India is the world’s largest molasses exporter and contributes about 25% to global trade.

Sensex surged 759.49 points, or 1.05%, to end at 73,327.94, while the Nifty 50 ended 202.90 points, or 0.93%, higher at 22,097.45. “Q3 earning season had a positive start and is further expected to be propelled by the BFSI segment, where many heavyweights are likely to post their results this week. This will support the overall ongoing market momentum and stock-specific action," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Crypto mining malware has been found on two government servers in the South Korean city of Daejeon, an audit has found.

Do Kwon, co-founder of Terraform Labs, has once again appealed the Montenegro High Court’s decision to uphold extradition requests from the U.S. and South Korea. His legal team argues that the recent decision by the Montenegro High Court violates legal provisions, the European Convention on Extradition, and the bilateral treaty with the U.S. on extradition.

By Jonathan Stempel

South Korean regulators seek to introduce new laws that would sanction the use of cryptocurrency mixers in the country to curb the rate of illicit financial activities.

European markets have opened lower while Asian markets were mostly higher as the week got off to a mixed start

Samsung Galaxy S24 series launch event, scheduled just two days from now, speculation abounds regarding the pricing of the forthcoming flagship smartphones. Leaks suggest a potential pricing shift, raising questions about consumer expectations for the new devices. The South Korean tech giant has been touting advanced AI features that are poised to elevate the user experience with the Galaxy S24 series.

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