Asia

Friday’s trading brought a strong wave of optimism to Asian markets. Regional indices surged to their highest levels in more than three years, driven by easing geopolitical tensions and renewed hopes for trade deals. At the same time, the U.S. dollar came under pressure, hitting its lowest point in over three and a half years and heading for its biggest half-year decline since the 1970s.

🔹 Asia Celebrates Records, Investor Sentiment Improves

The MSCI Asia-Pacific index (excluding Japan) climbed to its highest point since November 2021 and was on track for a weekly gain of around 3%. Japan’s Nikkei jumped 1.5%, briefly surpassing the psychological barrier of 40,000 points for the first time since January.
The optimism in Asia followed a strong Thursday on Wall Street, where U.S. stocks rallied on growing investor confidence in an imminent Fed rate cut. European index futures also gained – EUROSTOXX 50 and DAX rose over 0.6%, while the UK’s FTSE added 0.16%.

🔹 Dollar Under Pressure: Markets Expect Fed Shift and Possible Leadership Change

The U.S. dollar fell to its lowest level since 2021 on Friday. It has lost over 10% since the start of the year and is on course for its biggest half-year drop since the free-floating currency system began in the 1970s.
Behind the weakening dollar are growing speculations of political pressure on the Federal Reserve. According to the Wall Street Journal, President Trump may replace Fed Chair Jerome Powell – possibly as early as September. Markets are increasingly pricing in an imminent rate cut.
The euro rose to $1.1745 – its highest level since September 2021. The pound climbed to $1.3733. The U.S. dollar index stood at 97.378, heading for its sixth consecutive monthly loss.

🔹 Oil Plunges, Gold Slightly Down

On commodity markets, oil drew the most attention. While it rebounded slightly on Friday – Brent crude added 0.52% to $68.08 per barrel, and U.S. WTI rose 0.61% to $65.54 – both benchmarks were still down over 10% for the week. The ceasefire between Iran and Israel eased fears of supply disruptions.
Meanwhile, gold, which has recently hit record highs, corrected slightly – down 0.23% to $3,320.25 per ounce.

🔹 Tensions Easing, Trade Talks Accelerating

Investors welcomed diplomatic progress between the U.S. and China. The White House confirmed that both powers are accelerating the supply of strategic resources, including rare earths. A positive signal also came from German Chancellor Friedrich Merz, who called for “fast and simple” trade deals within the EU.
Bond markets remained stable – U.S. 10-year Treasury yields held at 4.2554%, and 2-year yields at 3.7418%.

Summary:
After a turbulent period, global investors are finally breathing a sigh of relief. A weakening dollar, calm in the Middle East, and improved trade outlooks have created a wave of positive sentiment in the markets. Whether this holds through the summer will largely depend on the Fed – and who leads it.

#Asia , #stockmarket , #dollar , #bond , #worldnews

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The past week has brought a slew of important events, strategic changes, and announcements to the Asian cryptocurrency scene, which have had a significant impact on the global financial environment. Monitoring the latest trends in Japanese regulations and the Indonesian president's approach to cryptocurrencies has been far from dull. These events vividly illustrate how Asia is immersing itself in digital transformation.
Japan and South Korea
In Japan, the Financial Services Agency (FSA) has intensified its supervision of unauthorized cryptocurrency transactions. The FSA's directive to financial institutions was clear: tighten control over transactions on cryptocurrency exchanges, especially when sender and recipient information differs.
Simultaneously, Bitcoin on the bitFLYER exchange reached a record value of 7.9 million yen, significantly higher than the global benchmark of $52,000. This success highlighted the weakness of the Japanese yen in the context of the Bank of Japan's loose monetary policy and inflation, which reached its highest level since 1982.
In South Korea, the Financial Intelligence Unit (FIU) unveiled an ambitious action plan for 2024 aimed at banning the exchange of unqualified virtual assets for Korean won. These measures, from preventive controls to extensive reviews, aim to strengthen market security and combat money laundering. The FIU aims for only the best companies to engage in the cryptocurrency market.
In a development related to this sector, gaming company Com2uS entered into a partnership with the blockchain project Oasys, aiming to develop the Web3 gaming sector. The collaboration aims to leverage Com2uS's experience in mobile games and Oasys's technological know-how to create innovative gaming experiences.
Indonesia and Hong Kong
In light of political changes in Indonesia following the election of Prabowo Subianto and Gibrana Rakabuminga Raka, favorable developments for cryptocurrencies are expected. The victory of this duo suggests an interest in incorporating cryptocurrencies into the national economic plan, with an emphasis on strengthening regulatory oversight and compliance with tax laws among cryptocurrency traders.
Hong Kong is focusing on combating cryptocurrency crimes through innovative and vigilant methods. The development of transaction tracking technology is expected to help combat fraud, while a proactive approach to regulation supports maintaining a safe and transparent market environment.
An interesting initiative is the partnership between the Ethiopian state investment group and the Hong Kong-based West Data Group, aimed at developing bitcoin mining and artificial intelligence education. This $250 million project highlights efforts to integrate advanced technology into Ethiopia's economic strategy.
Global Developments and China's Restrictions
In the context of global issues regarding digital currencies, a US official commented on the use of cryptocurrencies by the terrorist organization Hamas, emphasizing the group's minimal reliance on digital currencies.
MEXC Exchange and other cryptocurrency platforms are implementing stricter policies towards users from China who are not properly verified. This move is part of a broader trend of increasing security and compliance on cryptocurrency exchanges.
#crypto #asia

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“