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July 12th - In response to the impact of the typhoon on communication networks, the Ministry of Industry and Information Technology (MIIT) closely monitored weather changes and network operation, urgently dispatched national emergency communication support teams and equipment, and activated 5G inter-network roaming services to support the communication needs of flood control and disaster relief command centers and affected residents. According to statistics, as of 12:00 on July 12th, the information and communication industry had deployed 68,000 personnel, 24,000 emergency communication vehicles, 31,000 generators, 130 satellite phones, and 27 drones, sending 330 million warning text messages. A total of 11,000 damaged base stations have been restored.On July 12, Liu Guozhong, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, conducted research in Beijing. He emphasized the need to thoroughly study and implement the spirit of General Secretary Xi Jinpings important instructions and directives, as well as the spirit of the Political Bureau meeting, and to implement the arrangements of the State Councils executive meeting. He stressed the importance of firmly establishing a bottom-line mentality and a mindset of extreme limits, fully implementing political responsibilities, meticulously implementing measures to prevent and respond to torrential rains and floods, making every effort to ensure the safe passage of reservoirs through the flood season, and effectively safeguarding the lives and property of the people.Ukrainian President Volodymyr Zelensky has proposed replacing Prime Minister Sviridenko.July 12th - The clearing out of securities brokers may be accelerating. Industry sources indicate varying degrees of enforcement regarding broker elimination. Some local bureaus emphasize standardized elimination processes but lack a unified timetable; regulators will subsequently review the compliance of these processes. Data shows that the number of brokers in the securities industry has decreased by nearly 12,000 since 2025. As early as 2024, regulators conveyed that securities firms should adapt to the transformation towards wealth management and gradually eliminate brokers. Currently, some leading securities firms have largely completed this process, while smaller firms still have a significant number of brokers. Some securities firms have stated that they will accelerate the elimination process by combining leading practices, regulatory guidance, and industry trends, but will adopt a stable approach, such as not renewing contracts upon expiration and performance-based layoffs. They will also simultaneously adjust traditional commission-dependent models to align with the wealth management transformation. During the elimination process, qualified brokers can be transferred to formal positions such as wealth managers or investment advisors. Regarding potential customer attrition, industry insiders believe that given the overall industry is in a broker elimination phase, the overall impact of customer loss will be minimal, with only some regions potentially experiencing minor disruptions.Iraqi government spokesperson: The Iraqi prime minister will sign several oil and gas memorandums of understanding during his visit to Washington.

Crypto Daily Market Highlights: Regulatory Risk and Fed Fear Weigh

Cory Russell

Mar 01, 2023 15:22

The top ten cryptocurrency index had a negative afternoon on Tuesday. The top ten entered the red with ADA's help. Bitcoin fell below $24,000 for the fourth straight session during the negative session.


Even though February's consumer confidence figures were lower than anticipated, US economic measures came up short. From 106.0 to 102.9, the CB Consumer Sentiment Index decreased.


With the S&P/CS HPI Index - 20 n.s.a increasing by 4.6% year over year in December, housing industry statistics also sent a negative indication. November saw a 6.8% increase in the Index. High US mortgage rates had an impact on demand, which slowed the increase in home prices.


To end a negative month, the NASDAQ Composite Index decreased by 0.10 percent on Tuesday. Investor mood was still being affected by the possibility of a higher for extended Fed interest rate trend. The NASDAQ mini was down 36.25 points this morning.


News about the cryptocurrency market, however, heightened the pessimism. Regulation action kept grabbing people's interest. Alarm alarms went off when it was reported that the SEC had subpoenaed Robinhood (HOOD). Moreover, there were reports that Visa (V) and Mastercard (MA) would rethink their plans for cryptocurrency.


The Day Ahead Buyers should keep an eye on the cryptocurrency news channels for any regulation developments and US lawmakers' conversations. Updates on Binance and FTX as well as information from the current SEC v. Ripple lawsuit need to be taken into account.


Interest in economic signs will also be high. Prior to the US session, China's private sector PMIs will have an impact. We anticipate that China's poor economic data will rekindle recessionary worries and test investors' desire for risky assets.


The NASDAQ Composite Index and US economic data will have an impact on the midday session. The February US industrial PMI figures will be closely watched. It would be negative if the ISM Manufacturing PMI unexpectedly dropped. However, buyers should also keep an eye on the FOMC members' daily conversations.


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