Seoul shares rallied at Tuesday’s open as US tech gains revived AI sentiment after a sell-off and oil prices eased. The rise was large enough for the Korea Exchange to trigger a buy sidecar, with the index above 5,700.
SK Hynix beat third-quarter estimates on operating profit and sales, at 83.33 trillion won and 104.62 trillion won. Net profit of 39.53 trillion won fell far short of the 59.66 trillion won expected, and the figures give no reason for the gap.
An updated television poll in Israel’s election puts Netanyahu’s bloc level with Eisenkot’s camp, with neither near a majority. Likud is projected at 27 seats, Yashar at 22 and the Joint Arab List at up to 18. Counting continues and coalition talks may take weeks.
At Ripple’s conference, the Treasury Secretary framed crypto as a way to protect the dollar’s global standing and pointed to SEC and CFTC action as a stopgap after the Clarity Act failed, including a push against crypto debanking.
Robinhood reported revenue of $1.40B, below the $1.43B estimate, while EPS of $0.60 beat the $0.55 estimate. Crypto revenue was reported down 55% from a year earlier and trading volume down 38%, with growth in the wider blockchain business.
Galaxy Digital posted a $323 million quarterly profit and unveiled a new $200 million share repurchase program. Early reports give no detail on the reporting period, the drivers of the swing to profit, or the buyback’s timeframe.
The FT says Meta wants to raise $95 billion in equity to fund AI infrastructure, with Nvidia, AMD and Broadcom as cornerstone investors. Bloomberg adds the sale could include common and preferred stock, with about $35 billion in underwritten public offerings.
Reuters reports that the STAR50, the tech-heavy benchmark of Shanghai’s STAR Market, has dropped 40% in under four months. The slide has removed about $480 billion in market value. The causes and exact dates were not given in the available material.
Bitmine bought another 10,452 ETH, lifting its stake to 4.95% of Ether supply, and repurchased 2.04 million of its own shares. Tom Lee says a crypto bull market is underway. The company reports $15 billion in total crypto, cash and investments.
CFTC Chair Mike Selig says the agency is moving toward an opt-in federal registration system for crypto exchanges while Congress has not legislated. He framed it as bringing derivatives-style investor protections to crypto. Timing and requirements were not specified.
