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On April 6th, following the "Science and Technology Exchange Connect" initiative, the Shenzhen Branch of the State Administration of Foreign Exchange launched another foreign exchange facilitation measure, the "Science and Technology Salary Connect" pilot program. This program focuses on providing convenient two-way foreign exchange services for the salaries of employees of key state-supported units such as high-quality enterprises, universities, and research institutions. This facilitates the cross-border flow of talent in the Guangdong-Hong Kong-Macao Greater Bay Area and supports the construction of Shenzhen as an international science and technology innovation center. It is understood that qualified employees can, through public-private partnerships with their employers, avoid submitting or repeatedly submitting documents when processing salary purchase and settlement transactions at pilot banks. This model integrates relevant foreign exchange facilitation policies, leverages corporate credit enhancement, and significantly improves the efficiency and convenience of cross-border salary processing for employees with foreign work experience, providing high-quality foreign exchange services to support Shenzhens talent attraction efforts.April 6 - Israels Homeland Defense Command announced early this morning that it had detected missiles launched from Iran towards Israel and was attempting to intercept them. Air raid sirens sounded in several parts of central Israel.Market news: Iran launched a ballistic missile toward central Israel.On April 6th, according to the Qingdao Daily, nine departments, including the Qingdao Municipal Bureau of Industry and Information Technology and the Qingdao Municipal Development and Reform Commission, jointly issued the "Qingdao Automobile Industry Stabilization and Growth Work Plan," clarifying the industry development goals and key areas of focus for 2026. The plan proposes that Qingdaos total vehicle production will remain stable at around 1 million units in 2026, with new energy vehicle production reaching 450,000 units, further addressing shortcomings in core supporting technologies such as the "three-electric" systems (battery, motor, and electronic control), automotive chips, and intelligent cockpits. In terms of projects, Qingdao will promote the construction of 57 automobile industry projects with investments exceeding 100 million yuan, accelerate the completion of 16 projects with a total investment of over 100 million yuan (totaling 14.2 billion yuan) by 2025, including FAW Forging, Jiefang Commercial Vehicle, and Chery KD projects, which are expected to generate an additional 12.8 billion yuan in output value in 2026; and promote the construction of 28 ongoing projects with a total investment of 15.8 billion yuan, with 27 projects expected to be completed in 2026, generating an additional 13.5 billion yuan in output value upon full production.Shares of South Korean companies Samsung Electronics rose more than 3%, while SK Hynix rose 0.5%.

BTC Fear & Greed Index Maintains Stability Despite Bitcoin's Return to $16,000

Alina Haynes

Nov 23, 2022 15:16

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Bitcoin (BTC) increased by 2.87 percent on Tuesday, snapping a two-day losing run. The risk of FTX contagion diminished as news updates on FTX assets permeated the crypto news wires. Despite Tuesday's market increase, the Fear & Greed Index remained unchanged at 22/100, with contagion risk remaining a constant concern.

 

Bitcoin (BTC) climbed by 2.87% on Tuesday. BTC closed the day at $16,215, partially correcting Monday's 3.15% decline. Notably, Bitcoin dipped below $16,000 for the second session in a row.

 

BTC fell to a midmorning low of $15,616 after a mixed start to the day. BTC reached a high of $16,294 in early afternoon trading, avoiding the First Major Support Level (S1) around $15,400. BTC surpassed the First Major Resistance Level (R1) at $16,218 before retracing its gains to below $16,050. BTC retested R1 after finding late support, before retreating.

 

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The prospect of FTX contagion continued to dampen investor sentiment on Tuesday after Genesis issued a bankruptcy notice.

 

Nonetheless, market conditions improved by late morning. FTX's $1.24 billion in cash reserves and news of Tron CEO Justin Sun and Ripple CEO Brad Garlinghouse eyeing FTX assets alleviated investor anxiety.

 

The cash reserves and asset sales should mitigate the losses of the top 50 creditors, who are exposed to FTX by $3.1 billion.

 

Nonetheless, notwithstanding the announcement, FTX contagion continues to pose a persistent risk to the broader market. Tuesday, the judge overseeing the FTX bankruptcy proceedings authorized the redaction of client names. The omission may leave investors confused about potential FTX-linked platforms that may have liquidity concerns.

 

On Tuesday, the NASDAQ Composite Index also found support. Demand for risky assets increased as fears of a holiday spending slump subsided. The NASDAQ gained 1.36 percent. This morning, though, the NASDAQ mini was down 23.5 points.

 

Later on today, the US Jobless claims, private sector PMIs, consumer sentiment, core durable goods, and FOMC meeting minutes will garner attention. The statistics and minutes will provide guidance for the cryptocurrency market.