A bigger-than-expected slowdown in the U.S. June consumer price index triggered heavy liquidations of traders betting on a decline in crypto. In the first hour after the CPI release, short liquidations totalled $134.9 million versus $7.06 million for longs, creating a 1,810 percent imbalance. Ethereum shorts were hit harder than bitcoin. CoinGlass data showed 89,498 traders were liquidated over the day for $413.37 million.

South Korean shares are set to test whether a rebound after a sharp selloff can last, with U.S. June CPI, semiconductor earnings and the Bank of Korea policy meeting in focus. The KOSPI rose 2.52 percent on July 10 after plunges earlier in the week, but remained down more than 7 percent over the week. Investors will watch U.S. CPI and PPI, ASML and TSMC results, and possible rate-hike signals in Seoul.