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Hong Kong-listed stocks related to new consumption concepts retreated during the session, with Laopu Gold (06181.HK) and Pop Mart (09992.HK) both falling 5.5%, Bruker (00325.HK) falling over 4%, and Mao Geping (01318.HK), Weilong (09985.HK), Giant Biogene (02367.HK), Mixue Group (02097.HK), Gu Ming (01364.HK), and Chabaidao (02555.HK) all falling over 2%.On December 30th, the overnight SHIBOR was 1.2470%, down 0.10 basis points; the 7-day SHIBOR was 1.5890%, up 3.10 basis points; the 14-day SHIBOR was 1.8690%, up 21.90 basis points; the 1-month SHIBOR was 1.5850%, up 0.10 basis points; and the 3-month SHIBOR was 1.6000%, unchanged from the previous trading day.On December 30th, it was learned at the National Civil Affairs Work Conference that the Ministry of Civil Affairs, in conjunction with relevant departments, will establish a minimum living allowance standard filing system to prevent phenomena such as "raising standards while reducing the number of people" and "determining the number of people based on monetary compensation." An official from the Ministry of Civil Affairs stated that the next step will be to optimize and upgrade the dynamic monitoring information platform, improve the closed-loop operation mechanism for assistance and support, develop service-oriented social assistance according to local conditions, promptly identify people in need, and accurately implement assistance and support; consolidate and deepen the comprehensive governance of social assistance, and continue to address problems such as "omissions" and "incorrect coverage" to ensure fair and just implementation.On December 30th, Delphi Group stated during an institutional survey that its solid-state batteries have achieved continuous trial production. Furthermore, after debugging, the cells produced during the trial production process have demonstrated good consistency. Regarding downstream applications of its solid-state batteries, in addition to the new energy vehicle market, the company is also developing application scenarios in a wider range of fields, including humanoid robots, two-wheeled electric vehicles, energy storage, and consumer electronics.Hong Kong-listed oil and gas stocks rallied during the session, with CNOOC (00883.HK) and Shanghai Petrochemical (00338.HK) both rising nearly 4%, PetroChina (00857.HK) up nearly 3%, and Sinopec (00386.HK) and others following suit.

Indonesian Crypto Exchange Ensures Compliance With Biometric Security-Based Wallet

Cory Russell

May 11, 2022 10:37

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According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

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