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The Shanghai Stock Exchange announced adjustments to the list of stocks eligible for trading under the Shanghai-Hong Kong Stock Connect program, adding 54 stocks including Baidu (09888.HK) and Ascletis Pharma (01672.HK), while removing 15 stocks including Youjia Innovation (02431.HK).On September 4th, multiple sources revealed that regulatory authorities have issued new requirements regarding the pre-assessment mechanism and continuous monitoring of securities and fund institutions entrustment of third-party internet platforms to provide transfer channels. This regulatory report details the requirements of the "Administrative Measures for Online Marketing of Financial Products." According to Articles 21 and 23 of the Measures, financial institutions entrusting third-party internet platforms to provide services for online marketing of financial products must establish a pre-assessment mechanism and continuously monitor the compliance, security, and agreement performance of the third-party internet platforms. Sources indicate that regulatory authorities will include the cooperation between industry institutions and third-party internet platforms in their routine regulatory oversight. For high-risk collaborations, on-site inspections will be initiated, and any violations will be dealt with according to law.On September 4th, Israeli Defense Minister Katz stated that the recent Israeli military operation to control the Ali Taher Ridge in southern Lebanon is an important step in consolidating the Israeli military presence in the region. He also stated that Israel will not withdraw from the "safe zone" in Lebanon until Hezbollah is completely disarmed. In his statement, Katz said that he and Israeli Prime Minister Netanyahu are pursuing a "clear and uncompromising" policy: Israel will not withdraw from the Lebanese "safe zone" until Hezbollah is completely disarmed and no longer poses a threat to residents in northern Israel. Katz stated that controlling Ali Taher is an important step towards achieving this goal, marking the completion of the Israeli militarys mission to establish a "safe zone" in southern Lebanon.On September 4, Russian Presidential Press Secretary Dmitry Peskov responded to reports that US Presidential Envoy Sergei Witkov and Presidents son-in-law Jared Kushner planned to visit Moscow and Kyiv on September 5 and 6, respectively. He stated that no prior announcements would be made, but notifications would be given upon contact. Peskov said that the US is continuing its mediation efforts, and Russia is willing to shift towards peaceful means to achieve its goals. He reiterated that the peace conditions outlined by Russian President Vladimir Putin in the Foreign Ministry in June 2024 remain unshakable. However, he stated that there are currently no specific preconditions for the peace process. In June 2024, Putin, during a meeting with the Russian Foreign Ministry leadership, stated that Russia would immediately announce a ceasefire and begin negotiations once Ukraine withdrew its troops from the Donetsk, Luhansk, Zaporizhia, and Kherson regions and announced that it would not join NATO.September 4th - The British government is expected to approve a large new gas field in the North Sea within weeks, ending years of legal and political wrangling. This marks Prime Minister Andy Burnhams first major statement on the domestic oil and gas industry. Sources indicate that Energy Secretary Miata Farnbler is expected to approve the Jack Dock gas field project, located approximately 150 miles east of Aberdeen, this month, with a decision on another field, Rosebank, to follow later. Farnblers decision means the Jack Dock gas field could begin producing gas as early as this winter, but this move is likely to face strong opposition from climate scientists and environmentalists, especially after the UK experienced a summer heatwave and wildfires.

Crypto Market Daily Highlights: The NASDAQ Sends the Market South

Skylar Shaw

Jan 31, 2023 16:23

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The top ten cryptocurrency index had a gloomy session on Sunday. SOL blazed a trail below. For the first time in six sessions, BTC finished the day below $23,000.


On Monday, FTX Court updates were less frequent. Fed anxiety grabbed the global financial markets after momentarily divorcing from the NASDAQ Index, driving both the NASDAQ Index and the cryptocurrency market into the red.


Although tomorrow's 25-basis point Fed interest rate rise is the market's bet, concerns over Fed Chair Powell's future guidance weighed. Although US inflation may have decreased, the job market is still quite tight.


The US unemployment rate is at 3.5%, significantly below the Fed's 5% mandate, giving the Fed space to raise rates for a longer period of time.


The NASDAQ Index fell by 1.96% on Monday. Tech stocks were under pressure ahead of a major earnings week, with results being released this week from Apple (AAPL), Amazon.com (AMZN), and Alphabet Inc. (GOOGL), as Fed uncertainty gripped the market. Optimistic forecasts and a hawkish Fed would be pessimistic. The NASDAQ mini gained 26 points this morning.


Today's NASDAQ and larger crypto market will be influenced by US economic statistics and public opinion of the Fed. Investors should keep an eye on the cryptocurrency news wires, however, for any developments on FTX, Genesis, the SEC v. Ripple lawsuit, and other events that could affect the market.