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Stocks in Asia Head For Record High Before Fed: Markets Wrap

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Stocks in Asia Head For Record High Before Fed: Markets Wrap Asian stocks advanced after their U.S. peers rose for the first time in five days, as Congress moved toward agreement on a spending package that would boost the economy. Treasuries were flat ahead of the Federal Reserve’s policy decision.

The Crypto Daily – Movers and Shakers – December 2nd, 2020
It’s a mixed start to the day for the majors. A Bitcoin move back through to $19,500 would support the broader market. See Full Article Here:

The Crypto Daily – Movers and Shakers – December 2nd, 2020 It's a mixed start to the day for the majors. A Bitcoin move back through to $19,500 would support the broader market.

South Korea’s Lee Kun-hee, who made Samsung a global powerhouse, dies at 78

Lee Kun-hee, who built Samsung Electronics into a global powerhouse in smartphones, semiconductors and televisions, died on Sunday after spending more than six years in hospital following a heart attack, the company said.

Lee, who was 78, grew the Samsung Group into South Korea’s biggest conglomerate and became the country’s richest person. But he was also convicted of bribery and tax evasion, and he and the empire he built were vilified for wielding huge economic clout, and for opaque governance and dubious transfers of the family wealth.

“Lee is such a symbolic figure in South Korea’s spectacular rise and how South Korea embraced globalisation, that his death will be remembered by so many Koreans,” said Chung Sun-sup, chief executive of corporate researcher firm Chaebul.com.

Samsung Group affiliates’ 326.7 trillion won ($289.6 billion) in 2019 revenue was worth about 17% of South Korea’s gross domestic product, according to Fair Trade Commission data and a Reuters calculation.

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https://www.cnbc.com/2020/10/26/south-koreas-lee-kun-hee-who-made-samsung-a-global-powerhouse-dies-at-78.html

South Korea's Lee Kun-hee, who made Samsung a global powerhouse, dies at 78 Lee Kun-hee, who built Samsung Electronics into a global powerhouse in smartphones, semiconductors and televisions, died on Sunday.

Asia-Pacific stocks mostly lower as coronavirus cases in the West surge; oil prices drop

SINGAPORE — Asia-Pacific stocks were mostly lower in Monday morning trade as new coronavirus cases surge in the U.S. as well in countries across Europe.

Mainland Chinese stocks led losses among the region’s major markets as they slipped in early trade, with the Shanghai composite down about 1.5% while the Shenzhen component fell 1.45%.

In Japan, the Nikkei 225 dipped slightly while the Topix index slipped 0.26%.

Over in South Korea, the Kospi shed.0.34% Shares of firms affiliated to conglomerate Samsung Group traded mixed following the passing of Samsung Electronics Chairman, Lee Kun-hee. Samsung C&T surged nearly 16% while Samsung Life Insurance soared 6.18%. Samsung Electronics edged 0.33% higher. Samsung SDI and Samsung Heavy Industries slipped 1.3% and 0.58%, respectively.

Shares in Australia saw gains, with the S&P/ASX 200 up 0.16%.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded fractionally lower.

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Asia-Pacific stocks mostly lower as coronavirus cases in the West surge; oil prices drop Oil prices dropped in the morning of Asian trading hours. International benchmark Brent crude futures fell about 1.6% to $41.09 per barrel. U.S. crude futures also declined 1.78% to $39.14 per barrel.

Corporate disclosure is the only way to get crypto institutionalized

Some people predicted that crypto assets were going to be a fad that would quickly come and go. But in just a short time, we’ve seen crypto assets become the focus of new innovation. Cryptocurrencies have offered value exchange, the ability to generate income, and a viable investment option. Young companies are turning away from traditional VC to offer token options to investors. And blockchain technology is offering new value in the form of frictionless data exchange. As a result, crypto is making an ever-expanding effect on global economies, technology and culture.

Because of this, crypto assets are becoming a fully institutionalized asset class, which can only be a good thing. Scaled buy-in from investors, brokers, financial services companies and more can only improve the recognition of crypto assets and markets as a whole. Greater participation creates greater efficiency and stability of crypto assets as well.

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Corporate disclosure is the only way to get crypto institutionalized A lack of transparency and central registry will inherently cause distrust in the industry and won’t help much to improve the public’s perception of crypto.