BANKING & FINANCE

Binance says hackers stole about $6.3 billion in digital assets, freezing withdrawals and triggering a market sell-off. Investigators suspect North Korean-linked hackers, but attribution remains unconfirmed.

South Korean shares rallied sharply as renewed confidence in artificial intelligence boosted Samsung Electronics and SK Hynix, drawing foreign investors back after heavy recent selling.

Chinese shares fell sharply on Tuesday, led by technology and AI stocks, while South Korean and Japanese markets rallied on renewed optimism about artificial intelligence.

China's AI-heavy STAR50 index has fallen about 40% from its July peak, erasing roughly US$480 billion in market value and raising concerns about valuations, IPOs and broader technology stocks.

Global oil prices have surged after increased attacks on shipping in the Strait of Hormuz, threatening to reverse recent petrol-price declines and intensify Australia's inflation pressures.

Sallie Mae shares dropped after the lender reported an unexpected third-quarter loss, reduced its profit outlook and raised its forecast for loan charge-offs.

US natural gas prices fell to a two-month low as forecasts for mild weather reduced expected heating demand, outweighing tighter storage data and strong LNG exports.

Bitcoin rose 0.47% to $81,690.50 after Thursday's 3.3% drop, as technology stocks, higher oil prices and $635.6 million in spot ETF outflows pressured cryptocurrencies.

American Express customers reported service problems on Thursday, while Downdetector flagged a possible outage. The disruption's cause, scope and affected services remained unclear.

South Korea's KOSPI fell 3.52% as Samsung Electronics and SK Hynix declined amid concerns over the durability of global AI investment, higher oil prices and semiconductor demand.

Chinese shares fell for a second session as technology stocks led a broad sell-off, with fading stimulus expectations, weak earnings and trade tensions weighing on investor confidence.

TAL Education shares fell nearly 9% amid a broader decline in Chinese stocks, with investors focused on weak domestic demand and the company's upcoming quarterly results.

Oil prices rose as reported tanker attacks near the Strait of Hormuz, strikes on Saudi energy facilities and falling US inventories heightened concerns about global supply disruptions.

Chinese shares declined as CATL fell 10% following slower profit growth, while soft consumer demand and fading hopes for fresh stimulus overshadowed stronger-than-expected economic growth.

India's Nifty 50 fell 0.66% to 22,738.45 as selling spread across midcaps, smallcaps, banks and defence stocks, while IT shares outperformed.

Bitcoin rose about 0.45% to near US$83,315 after recovering from recent lows, while ETF flows, leveraged liquidations and expectations for further Federal Reserve rate rises influenced sentiment.

ASIC is investigating a Sydney-based financial services firm over alleged links to overseas investment operators accused of using its Australian licence to target investors and contribute to reported losses of $138 million.

South Korean shares fell sharply, led by Samsung Electronics and SK Hynix, as investors questioned AI investment returns, tracked rising US yields and reduced exposure to riskier assets.

National Australia Bank plans to eliminate up to 2,500 domestic roles by mid-2027, reduce consultant reliance and redirect savings towards technology and operational efficiency.

Bank of America customers reported problems with online banking and CashPro on Friday, but the bank had not confirmed an outage or explained the cause.

An ASX study says 11.5 million Australian adults now invest outside superannuation and property, with ETFs and digital platforms helping expand participation since 2020.

Bank of America brought in 1,000 contractors to address software vulnerabilities exposed by advanced AI models, as the bank reported hundreds of millions of dollars in related costs.

South Korea's KOSPI fell 7.8% to about 5,539, led by Samsung Electronics and SK Hynix, as higher US inflation and AI investment concerns fuelled a global technology sell-off.

Bank of Queensland shares rose more than 5% after the lender reported stronger second-half cash earnings, wider margins, a steady final dividend and an 88% rise in statutory profit.

Federal regulators ordered Bank of America to pay more than US$1.2 billion after finding widespread anti-money-laundering failures, including inadequate monitoring and unreported suspicious transactions.

The Dow rose early Tuesday as strong UnitedHealth earnings lifted the index, while a rare JPMorgan miss, falling chip stocks and oil-price volatility weighed on markets.

Bank of Queensland shares rose nearly 3% before its full-year results, as investors assessed earnings pressure, cautious broker targets, capital returns and the lender's transformation plans.

Oil prices moved higher after early losses as traders weighed a Russia-Ukraine energy ceasefire against Middle East attacks, shipping risks and Hurricane Isaias threatening Gulf output.

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