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Games & Commerce

Naver, Kakao face growing pressure to deliver AI results despite record second-quarter outlook

Naver and Kakao are expected to post their best-ever second-quarter sales and operating profit, but both are struggling to gain market traction as their share prices remain weak. Naver hit a 52-week high last month before falling to a fresh 52-week low, while Kakao saw broker target prices cut despite an expected jump in operating profit. Analysts say the market is weighing the lack of clear, measurable AI business contributions, making second-half AI performance the key focus.

Crypto

Possibility raised of Fed buying equity ETFs; could it lift cryptocurrencies?

An analysis said that if U.S. stocks enter a steep bear market, Federal Reserve market support could expand liquidity in cryptocurrency markets. Analysts cited the size of the U.S. stock market and political pressure to avoid a prolonged downturn. Eric Balchunas said the Fed could break with decades of precedent and buy equity ETFs. Market participants said Fed intervention could include rate cuts and balance-sheet expansion, though high inflation could limit immediate action.

Crypto

Bitcoin retests $60,000 support as oil, Japan jitters and Strategy sales risk weigh

Bitcoin is sliding back toward the key $60,000 support level, facing mounting short-term downside pressure as risk sentiment weakens. Markets are citing a jump in oil prices, global rate worries and renewed concerns over possible additional bitcoin sales by Strategy. Brent has risen to $74 a barrel from $68, while Japan’s 10-year government bond yield has climbed to its highest in about 30 years. Regulatory signals have also remained unsupportive.