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Finance

KOSPI recovers 7,500 level, up more than 4 percent in early trade

South Korea's benchmark KOSPI rose more than 4 percent early on Wednesday, reclaiming the 7,500 level. The gain came as investor sentiment improved after Samsung Electronics' labor and management reached a tentative wage agreement and the union decided to postpone a planned general strike. Individuals were net buyers while foreigners and institutions were net sellers. The Kosdaq also climbed more than 4 percent, while the won weakened slightly against the dollar.

Crypto

Strategy's record buying fails to lift bitcoin as high-rate worries weigh

Strategy, known for its bitcoin investment strategy, has overtaken BlackRock to become the largest holder of bitcoin. Despite aggressive buying, bitcoin slid to a three-week low, stoking market unease. Investors are focusing on worries that high U.S. interest rates will persist, with the Federal Reserve maintaining a tight stance and core PCE inflation stuck around 2.9 percent. Rising U.S. Treasury yields and net outflows from spot bitcoin ETFs have also weighed on sentiment.

AI & Enterprise

Sanders says 97 percent of Americans want AI regulation, urges Congress to legislate

U.S. Senator Bernie Sanders urged Congress to stop delaying legislation on artificial intelligence safety rules, saying support for regulation is overwhelming. He said lawmakers should listen to the public rather than billionaire big tech companies. Sanders cited polls showing 70 percent of Americans say AI is developing too fast and 97 percent want AI safety regulation. He also pointed to divisions within the Democratic Party over the strength of regulation.