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A Star Ferry ship parked in front of the Hong Kong Skyline on October 13, 2022 in Hong Kong, China. (Photo by Vernon Yuen/NurPhoto via Getty Images)Asia-Pacific markets fell on Thursday after minutes from the March Federal Open Market Committee meeting showed that Fed officials see the U.S. economy entering a recession in the wake of the banking crisis. Comments from the Fed erased earlier gains seen on Wall Street after the release of the U.S. consumer price index report that showed inflation cooled in March. The CPI rose 0.1% for the month against a Dow Jones estimate for 0.2%, and 5% from a year ago versus the estimate of 5.1%. Excluding food and energy, the core CPI rose 0.4% and 5.6% on an annual basis.

☆ Asia markets mostly rise as investors come back from long weekend
▼ + stars: | 2023-04-10 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

MUMBAI, MAHARASHTRA, INDIA - 2022/10/06: People are seen taking photos of the City of Mumbai skyline. (Photo by Ashish Vaishnav/SOPA Images/LightRocket via Getty Images)Asia-Pacific markets were mostly higher on Monday as some investors returned from a long Easter weekend. Japan's Nikkei 225 opened 0.65% higher, with the Topix seeing a larger gain of 0.8%. Australian and Hong Kong markets remained closed due to a four day Easter holiday till Monday. India will release its fiscal deficit figures for March, as well as its March trade data, while Indonesia's retail sales for February will also be out.

☆ Asia markets trade mixed; India expected to raise repo rates
▼ + stars: | 2023-04-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The Reserve Bank of India (RBI) logo is displayed outside of the bank's headquarters in Mumbai, India, on Tuesday, Aug. 9, 2011. Asia-Pacific markets were mixed on Thursday as Wall Street digested the latest ADP private payrolls report, which showed slowing job growth in March. India's central bank is also expected to raise its repurchase rate by 25 basis points to 6.75%, according to economists polled by Reuters. Hong Kong's Hang Seng index, looked set to trade higher, with Hang Seng futures at 20,421 compared to Tuesday's close of 20,274.59. Japan will release data for its household spending for February, and China will see private surveys on its services sector activity as well.

Commercial and residential buildings at dusk in Tokyo, Japan, on Wednesday, Feb. 8, 2023. Asia-Pacific markets were mixed on Wednesday as Wall Street digested a key U.S. labor report that showed job openings dropped to their lowest level in nearly two years in February. In Australia, the S&P/ASX 200 was up marginally, while Japanese markets saw larger losses. The Nikkei 225 slid 0.65%, while the Topix lost 0.85%. Mainland Chinese and Hong Kong markets are closed for a holiday.

☆ Asia markets rise ahead of Australia's central bank interest rate decision
▼ + stars: | 2023-04-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Reserve Bank of Australia (RBA) at the central bank's building in Sydney, Australia on May 2, 2022. Asia-Pacific markets rose on Tuesday ahead of a Reserve Bank of Australia's interest rate hike decision, with economists almost evenly spilt on whether the RBA will pause or continue its hiking cycle. According to a Reuters poll of 37 economists, 16 expect a rate hike from the current interest rate level of 3.6% to 3.85%, while 21 expect the bank to hold rates. South Korea's Kospi was 0.57% up, while the Kosdaq index was 0.36% higher. In Hong Kong, Hang Seng index futures were at 20,462, higher than the index's last close of 20,409.18.

☆ Asia markets rise as oil surges after surprise OPEC+ cut; investors digest factory data
▼ + stars: | 2023-04-03 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Aerial view of oil and gas jack-up rig at the yard for maintenance with many vessels in Singapore. Asia-Pacific markets largely rose on Monday as investors further digested key manufacturing data in the region. Brent crude futures and U.S. West Texas Intermediate crude futures (WTI) surged as much as 8% after OPEC+ members agreed to cut more than 1 million barrels per day to extend through the end of 2023. Australia's S&P/ASX 200 rose 0.66%, while in Japan, the Nikkei 225 opened 0.5% higher and the Topix rose 0.57%. On the other hand, the Hang Seng index looks to trade lower, with Hang Seng futures standing at 20,353 compared to the index's last close of 20,400.

☆ Technology Slump Refocuses Startups on Capital Discipline
▼ + stars: | 2023-03-31 | by ( Luis Garcia | ) www.wsj.com time to read: 1 min

Slumping valuations for technology companies are making managers at emerging-markets startups direct their attention to capital discipline after years of booming investments and rising valuations that shunted aside cash concerns, according to venture-capital fund managers from areas such as Africa, Asia and Latin America. “In the last five years, the environment that basically has trained or educated [startup founders] on the ground was not the right environment,” said Kuo-Yi Lim, a co-founder and managing partner at Southeast Asia-focused Monk’s Hill Ventures. Mr. Lim and other emerging-markets fund managers spoke during a Global Private Capital Association conference in New York this week.

☆ CFTC Charges Against Binance Highlight Role of Former Compliance Chief
▼ + stars: | 2023-03-30 | by ( Mengqi Sun | ) www.wsj.com time to read: 1 min

A Binance spokeswoman called the complaint filed by the CFTC ”unexpected and disappointing as we have been working collaboratively with the CFTC for more than two years.”The suit by U.S. regulators against Binance Holdings Ltd. focuses in large part on the work of the cryptocurrency exchange’s former chief compliance officer, alleging he willfully aided and abetted the firm in evading U.S. laws. Samuel Lim, Binance’s compliance chief between 2018 and 2022, faces civil charges of undermining Binance’s compliance program and conducting activities to evade rules designed to prevent illicit financial activity, the Commodity Futures Trading Commission said Monday.

☆ Singapore's banking authority says DBS outage was 'unacceptable'
▼ + stars: | 2023-03-30 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A DBS Group Holdings Ltd. logo atop an automated teller machine (ATM) at a bank branch in Singapore, on Wednesday, Feb. 17, 2021. SINGAPORE — Shares of Southeast Asia's largest bank DBS Group were down 1.4% on Thursday, a day after a 10-hour outage of its digital services. The Monetary Authority of Singapore said the outage was "unacceptable" and the lender had "fallen short of expectations." DBS was the largest loser in terms of index points on Singapore's benchmark Straits Times Index on Thursday. In a statement issued late Wednesday, MAS said it instructed DBS to "conduct a thorough investigation to establish the root cause of the disruption and submit its investigation findings to MAS."

Hong Kong island and Victoria Harbour cityscape, viewed from Victoria Peak. In the foreground, the Bank of China tower and Cheung Kong Center skyscrapers. Asia-Pacific markets were trading mixed on Thursday with Hong Kong looking to extend its gains. On Wednesday, Hong Kong markets gained over 2%, led by China's tech giant Alibaba on news of its major shakeup. South Korea's Kospi was up fractionally, while the Kosdaq index gained 0.54%.

☆ Prosecutors say Binance execs cracked jokes when warned terrorists could be moving money on their platform: 'Can barely buy an AK-47 with 600 bucks'
▼ + stars: | 2023-03-29 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

"Can barely buy an AK-47 with 600 bucks," the Binance employee wrote to their boss, per the CFTC. The complaint said Lim described a Binance compliance audit as a "half assed individual sub audit on geo(fencing)" to "buy us more time." "Yea its fine I can get mgmt to sign," Lim responded, per the CFTC's complaint. "Lim's internal discussions with compliance colleagues illustrate that Binance has tolerated Binance customers' use of the platform to facilitate 'illicit activity,'" said the CFTC's complaint. In a Tuesday statement, Zhao said the CFTC's complaint "appears to contain an incomplete recitation of facts," and disputed "the characterization of many of the issues alleged in the complaint."

☆ Asia's 'best restaurants' list is out — and it's no surprise which country made the list 17 times
▼ + stars: | 2023-03-29 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +10 min

William Drew, director of content for Asia's 50 Best Restaurants, said Japan's strong performance is "no surprise." The top 50 restaurants in AsiaThis year commemorates the 10th anniversary of the "Asia's 50 Best Restaurants" list. Asia's top 50 restaurantsThe list of "Asia's 50 Best Restaurants" for 2023 are: 1. Ten restaurants that ranked among Asia's best 50 restaurants last year fell into the 51-100 ranking this year. Asia's 50 Best Restaurants 2023Labyrinth also rose 29 spots to No.11, winning the "Highest Climber" award.

Chinese technology stocks such as Alibaba and Tencent have been hammered in 2022 as regulatory pressure and a slowing Chinese economy weighed on growth. But investors are starting to feel slightly more optimistic toward Chinese tech giants in 2023. Asia-Pacific markets were mixed on Wednesday as investors will keenly watch Alibaba's Hong Kong-listed shares, after the Chinese tech giant announced it will split into six business groups. In Japan, the Nikkei 225 opened marginally lower, but the Topix rose 0.13%. South Korea's Kospi fell fractionally, while the Kosdaq index rose 0.03%.

☆ Binance 'could be in big trouble' as the CFTC lawsuit alleges the crypto behemoth dodged regulators and breached laws
▼ + stars: | 2023-03-28 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +10 min

Binance is being blow-torched from all angles as US regulators close in on the world's largest crypto exchange. The CFTC sued the exchange this week for violating US financial laws, whilst some reports suggest Binance has engaged in secret fund transfers. On Monday, the Commodities Futures and Trading Commission (CFTC) sued Binance and Zhao himself, for allegedly breaching US financial laws. Following the shocking implosion of Sam-Bankman Fried's FTX exchange late last year, concerns have risen whether Binance faces similar risks. If US authorities decide the links meant the crypto exchange had control over the US platform, it could expose the company to enforcement action.

☆ The CFTC's suit against Binance marks a deepening crackdown on the crypto industry
▼ + stars: | 2023-03-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

All this comes just days after the SEC charged a spate of high-profile individuals for fraud and crypto market manipulation. That comes months after the total crypto market value saw about $2 trillion erased in a brutal plunge in token prices. The SEC also warned that the platforms investors use to get involved in crypto aren't quite airtight, in the regulator's view. In other news:FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua Reuters2. The World Bank just warned that this could be the start of a "lost decade" for global economic growth.

☆ Binance boss CZ shows what he thinks of the trading violations lawsuit with an enigmatic tweet: '4'
▼ + stars: | 2023-03-28 | by ( ) www.businessinsider.com time to read: +2 min

Binance boss Changpeng Zhao "CZ" Photo by Pedro Fiúza/NurPhoto via Getty ImagesBinance boss CZ showed what he thinks of trading violations lawsuit with an enigmatic tweet: "4"He was referring to one of his four principles: "Ignore FUD, fake news, attacks, etc." CZ said he eats his company's "dog food" by storing his personal crypto on his exchange. Binance boss Changpeng Zhao showed what he thinks of the Commodities Futures and Trading Commission (CFTC) lawsuit against him and the exchange with a cryptic, enigmatic tweet of the number "4." I eat our own dog food and store my crypto on Binance.com," he said. In other words, if a company's dog food is as high quality as advertised, it should be good enough for its employees to eat.

☆ Bitcoin and Ether are down 3% after CFTC sued Binance and its CEO over US regulatory violations
▼ + stars: | 2023-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Cryptocurrencies are trading lower after CFTC sued major exchange Binance for regulatory violations. Bitcoin and Ether are trading around $27,000 and $1,700 respectively, about 3% lower over the past 24 hours. Bitcoin and Ether prices are around $27,000 and $1,700 per token respectively, per CoinMarketCap data. The US regulator said in a complaint filed in a Chicago federal court Monday that Binance breached eight provisions of the Commodity Exchange Act. The CFTC said Binance "lucrative and commercially important 'VIP'" customers, including institutional customers in the US while disregarding registration and regulatory requirements under the US law.

Asia-Pacific markets were higher on Tuesday as investor fears over the recent banking turmoil continued to show signs of easing. In Australia, the S&P/ASX 200 rose 1.11%. Japan's Nikkei 225 was up 0.3%, while the Topix saw a larger gain of 0.57% in early trading. Hong Kong's Hang Seng index was also looking to trade higher, with futures standing at 19,638 compared to the index's last close of 19,567,69. Elsewhere, South Korea will release its consumer sentiment index for March, while Australia will see its retail sales data for February.

☆ Binance Sued by CFTC Over Evading U.S. Rules
▼ + stars: | 2023-03-27 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

Photo: Eric Lee for The Wall Street JournalThe CFTC and other federal agencies have been investigating Binance for several years. The Commodity Futures Trading Commission on Monday sued Binance Holdings Ltd., alleging the operator of the world’s largest cryptocurrency exchange violated U.S. rules that require futures and other derivatives to be traded on regulated platforms. The CFTC’s lawsuit also named Binance founder Changpeng Zhao and Samuel Lim , who the agency said was Binance’s first chief compliance officer, as defendants. The lawsuit seeks restitution and fines as well as an order that would prevent the companies from any continuing conduct that violates U.S. rules.

☆ Binance and founder Changpeng Zhao violated compliance rules to attract U.S. users, CFTC alleges
▼ + stars: | 2023-03-27 | by ( Rohan Goswami | ) www.cnbc.com time to read: +4 min

Beyond disgorgement and any monetary costs, the CFTC filing asked the court to impose further relief, including trading and registration bans. Just days prior to the CFTC filing, CNBC reported on how Binance employees worked to subvert the exchange's compliance controls in China, using some of the same techniques that the CFTC alleges Binance to solicit U.S. users. "Do not directly tell the user to run," Binance instructed its VIP team, the filing alleged. The CFTC filing alleges that Binance engaged in similar activity for its U.S. users. But, Zhao posted a tweet that said "4" in an apparent response to the CFTC filing.

March 27 (Reuters) - Major cryptocurrency exchange Binance and executives, including CEO and founder Changpeng Zhao, have been sued by the U.S. Commodity Futures Trading Commission (CFTC) for regulatory violations, according to a court filing on Monday. Binance's compliance program has been "ineffective" and the firm, under the direction of Zhao, told employees and customers to go around compliance controls, the CFTC said. It also accused Binance's former Chief Compliance Officer Samuel Lim of aiding and abetting Binance's violations. "For years, Binance knew they were violating CFTC rules, working actively to both keep the money flowing and avoid compliance. Its core Binance.com exchange, the world's biggest, processed trades worth about $23 trillion last year, according to data provider CryptoCompare.

The CFTC sued Binance, Zhao and its former top compliance executive with "willful evasion" of U.S. law, "while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit." "Upon an initial review, the complaint appears to contain an incomplete recitation of facts, and we do not agree with the characterization of many of the issues alleged in the complaint," Zhao said in a statement. Firms such as brokers that facilitate U.S. customers' trading of such products are required to register with the agency. 'PIRATE SHIP'Founded in Shanghai in 2017, Binance sits at the heart of the global crypto industry. With a holding company based in the Cayman Islands, Binance has never revealed the location of its core exchange.

A Cruise Ship next to Hong Kong Skyline on March 21, 2023 in Hong Kong, China. (Photo by Vernon Yuen/NurPhoto via Getty Images)Asia-Pacific markets were mixed on Monday as investors continue to assess the impact of the banking troubles in the U.S and Europe. On Friday, Deutsche Bank saw a selloff of its U.S.-listed shares, after the German lender's credit default swaps jumped, without an apparent catalyst. In Australia, the S&P/ASX 200 rose 0.26%, while Japan's Nikkei 225 also opened 0.15% higher and the Topix climbed 0.21%. Hong Kong markets were also poised to fall, with Hang Seng futures trading at 19,864 compared to 19,915.68.

Asia-Pacific markets point to a negative open Friday, as investors weigh remarks from U.S. Treasury Secretary Janet Yellen, who said federal emergency actions to back up failed regional banks could be used again if necessary. This conveyed a different message compared to Yellen's remarks a day earlier, when she told senators that the Treasury was not considering any plans to insure all U.S. bank deposits without congressional approval. In Australia, the S&P/ASX 200 was 0.59% lower, while in Japan, the Nikkei futures contract in Chicago was at 27,120, and its counterpart in Osaka was at 27,110 against the Nikkei 225's last close at 27,419.61 . Japan saw its core inflation come in at 3.1% for March, the first time the pace of inflation had slowed since January 2022, while headline inflation was at 3.3%. Both Japan and Australia will release PMI estimates for March, for the manufacturing and services sectors.

Asia-Pacific markets are headed for a fall on Thursday, following Wall Street reaction overnight after the U.S. Federal Reserve hiked rates by another 25 basis points. The central bank's kept its terminal rate forecast at 5.1%, which means that only one more rate hike is expected this year before rates peak. In Australia, the S&P/ASX 200 dropped 0.77%, and Japanese markets are set to follow in the same direction. The Nikkei futures contract in Chicago at 27,040, and its counterpart in Osaka at 27,010, compared to the Nikkei 225's last close at 27,466.61. However, the Hang Seng index looks set to buck the trend and open higher, with Hang Seng futures at 19,762 compared to the index's last close at 19,591.43.

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