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Finance

KOSPI fails to break 7,000, returns to range trading; focus on U.S. rates and inflation

South Korean stocks are expected to take cues this week from U.S. inflation data ahead of the September FOMC meeting. Strong semiconductor earnings and surging exports are supporting the downside, but elevated U.S. long-term yields and Middle East tensions are limiting upside momentum. Markets are watching U.S. producer prices on Sept. 10 and consumer prices on Sept. 11 after stronger-than-expected U.S. jobs data lifted yield and rate-hike expectations.

Crypto

Crypto liquidations surge as oil, yields jump; XRP, Ethereum, Solana stumble

The cryptocurrency market logged large-scale liquidations as macroeconomic jitters and risk-off sentiment weighed on prices. About $369.67 million in derivatives positions were forcibly liquidated in a day, pushing bitcoin and major altcoins lower. The slide centred on XRP, Ethereum and Solana as total market value fell to around $2.59 trillion to $2.70 trillion. Long positions accounted for most liquidations, while spot ETF flows showed net outflows for bitcoin and inflows for some other tokens.

Crypto

Bitcoin nears $80,000 pivotal test as focus turns to U.S. jobs data, rate path

Bitcoin remains below a key resistance level in the $80,000 range as markets again price in the possibility of a U.S. Federal Reserve rate hike in September. Attention is on upcoming U.S. employment indicators ahead of the September FOMC meeting. Fed Chair Kevin Warsh played down the role of forward guidance and said July inflation data were insufficient. Oil prices have risen after the resumption of U.S. strikes on Iran, adding to volatility.