Hot spot tracking

  • South Korea's KOSPI index closed up nearly 18% on Friday, marking its largest single-day gain on record, while its monthly decline of 22% was the third largest on record. Foreign investors made net purchases of 7.2 trillion won worth of KOSPI shares on Friday, a record high. This news was positive for the won and the KOSPI index.
  • Japanese Finance Minister Satsuki Katayama will officially announce on Monday a coordinated Japan-US operation to curb the yen's depreciation; the intervention is not yet over. Previously, British media reported that the US and Japan had jointly purchased yen for the first time in nearly 30 years, with a US Treasury Secretary's memo revealing a plan to buy 5-10 billion US dollars. This news is bullish for the yen and bearish for the US dollar.
  • OpenAI faces investor concerns and competitive pressure, and its IPO may be postponed until next year. OpenAI's active user base has exceeded one billion. This news is negative for its direct investors, including SoftBank, Nvidia, and AMD.

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