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What Moved Global Markets
– Coronavirus update: The coronavirus outbreak claimed its first life in Hong Kong on Tuesday. Macau, the world’s biggest gambling playground, urged casinos to shut their doors.
– Hyundai Motor said it will suspend production in South Korea due to the coronavirus outbreak disrupting parts supply, becoming the first major automaker to do so outside of China. In China, global automakers have already extended factory closures in line with government guidelines including Hyundai, Tesla, Ford, PSA Peugeot Citroen, Nissan and Honda Motor.
– A long list of companies already feeling the impact of coronavirus.
– Shares of Tesla Inc surged 20% on Tuesday to hit $940, extending a stunning rally that has more than doubled the company’s market value since the start of the year as more investors bet on Chief Executive Elon Musk’s vision.
– The Nasdaq hit a record high on Tuesday and the S&P 500 headed for its best day in six months as fears of a heavy economic impact from the coronavirus epidemic tapered off after China’s central bank intervened for the second straight day. China injected 1.7 trillion yuan ($242.74 billion) via reverse repos on Monday and Tuesday, helping Chinese stocks recover some losses and lifting the world equity index. The stimulus boosted investor sentiment even as several economists cut forecasts for 2020 global growth.
3 biggest movers 24 hours
Biggest Mover 1: eosDAC (EOSDAC) is up 254.25% to $0.008731
Biggest Mover 2: VegaWallet Token (VGW) is up 93.56% to $0.127761
Biggest Loser: Gosama (GOS) is down 41.17% to $0.163996
What moved Crypto Markets (i.e. digital assets)
– Intercontinental Exchange, the derivatives and equities trading giant, has made online market-place eBay a takeover offer that would value the company above $30 billion, according to a report by The Wall Street Journal. Atlanta-based ICE approached Ebay for the deal multiple times, according to The Journal’s report. The deal would value Ebay above its current market cap of $28 billion. The company’s stock popped 10% on the news. ICE subsidiaries include the New York Stock Exchange and cryptocurrency venture Bakkt. ICE was trading down close to 2.7%.
– Sony Financial Ventures, part of the Japanese conglomerate Sony Corporation, has invested a “six-figure” sum in token issuance technology provider Securitize. The investment is an extension of Securitize’s latest $14 million funding round, which saw participation from Japanese giants MUFG Innovation Partners and Nomura Holdings, among others.
Fintech: The U.K. Financial Conduct Authority (FCA) has made changes to its registration fees structure for crypto businesses. The new structure is based on income crypto firms generate. If their income from U.K. crypto activity is up to £250,000 (~ $325,000), businesses will be charged £2,000 (~$2,600) registration fees. While those firms with an income of more than £250,000, will have to pay £10,000 (~$13,000). Previously, the FCA had proposed a flat fee of £5,000 (~$6,500) for all crypto businesses, but based on feedback it received from the community, it decided to amend the fees. The main feedback was £5,000 charge would be “too high for small firms and start-ups.”
Healthtech: According to a new survey, nearly half of US workers (49%) said they are excited by the prospect of a digital transformation of healthcare. Importantly, 48% said they would have more confidence in a digital health solution if it were offered by their employer, and 26% even say they would be more likely to stay with an employer that offered digital health solutions, such as an app to locate providers or access to virtual healthcare.
AI: Japan’s first robot bartender has begun serving up drinks in a Tokyo pub in a test that could usher in a wave of automation in restaurants and shops struggling to hire staff in an aging society. The robot, made by the company QBIT Robotics, can pour a beer in 40 seconds and mix a cocktail in a minute. It uses four cameras to monitor customers to analyze their expressions with artificial intelligence (AI) software.
Smart cities: Asia’s first smart city PoC transportation trials begin in Malaysia. The PoC will focus on traffic congestion and road safety, with NTT adapting vehicle monitoring technology that it has previously deployed in its Las Vegas initiative. Cameras will be installed at Cyberjaya’s busiest intersection to analyse traffic volume and type, with the aim of reducing congestion and detecting stolen vehicles. For the Las Vegas project, NTT deployed high-definition video cameras, sound sensors, as well as IoT (Internet of Things) devices to monitor a geographic area within the city’s Innovation District.
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