Japan and South Korea have announced plans to address the economic impact of tensions in the Middle East. According to RTHK, South Korea's Ministry of Economy and Finance emphasized the need to stabilize commodity prices amid increased global oil price volatility due to the situation in the Middle East. The government plans to implement measures such as capping oil prices to stabilize consumer prices. It is anticipated that rising oil prices will intensify inflationary pressures in the coming weeks. South Korean President Lee Jae-myung has also warned of strict penalties for refineries and gas stations hoarding fuel and colluding to raise prices. Reports indicate that South Korea, the world's fourth-largest oil importer, sources approximately 70% of its oil from the Middle East. Meanwhile, Japan's Finance Minister, Katayama Satsuki, stated that the government is prepared to swiftly implement measures to counter the economic effects of the Middle East conflict, including drafting a supplementary budget. She noted that Japan is currently experiencing inflation but has not entirely escaped the risk of deflation. The central bank maintains an accommodative monetary policy and is gradually adjusting its level of easing while closely monitoring market dynamics and the impact on the economy and prices.

The Halifax House Price Index for February showed a year-on-year increase of 1.3%, surpassing the anticipated 0.9% and the previous value of 1%. According to Jin10, this data indicates a stronger-than-expected performance in the UK housing market. The index, which measures changes in house prices, is a key indicator of the health of the housing sector. The unexpected rise suggests resilience in the market despite broader economic challenges. Analysts will be closely monitoring future data releases to assess whether this trend will continue.

European Central Bank (ECB) Governing Council member Slapek expressed reassurance regarding the gold reserves held by the Federal Reserve. According to Jin10, Slapek also conveyed confidence in the swap lines provided by the Fed. These comments reflect the ECB's trust in the stability and reliability of the Federal Reserve's financial mechanisms, which play a crucial role in international monetary cooperation. The ECB's confidence in these arrangements underscores the importance of central bank collaboration in maintaining global economic stability.

According to SoSoValue data, Bitcoin spot ETFs saw a total net outflow of $228 million yesterday (March 5th, Eastern Time). The Bitcoin spot ETF with the largest single-day net inflow was the Valkyrie ETF BRRR, with a net inflow of $5.4211 million, bringing its historical total net inflow to $16.9935 million. The Bitcoin spot ETF with the largest single-day net outflow was the BlackRock ETF IBIT, with a net outflow of $88.7436 million, bringing its historical total net inflow to $803 million. As of press time, the total net asset value of Bitcoin spot ETFs is $91.44 billion, with an ETF net asset ratio (market capitalization as a percentage of total Bitcoin market capitalization) of 6.42%, and a historical cumulative net inflow of $55.718 billion.

The Bureau of Labor Statistics (BLS) will release new population control data that was delayed last year due to the 43-day government shutdown. BNP Paribas chief U.S. economist, Eggerhoff, stated that the latest Census Bureau data shows the BLS has been overestimating population growth since the end of 2024. The adjusted January data is expected to see a downward revision of approximately 590,000 in the population aged 16 and over, a downward revision of approximately 370,000 in the labor force, and a similar downward revision in the household survey's employment figure. Using a BLS experimental series that smooths out past population control and immigration data, combined with the latest Census data, the BLS projects only 900,000 new jobs in the U.S. by 2025, and a total labor force growth of well below 500,000 by 2026. The population control adjustments will only affect the January household survey data. This means that month-over-month data for indicators such as household employment, unemployment, and labor force will not be directly comparable. Bank of America Securities economist Mishra stated that the good news is that key ratios (unemployment rate and labor force participation rate) are typically minimally affected. Last year, population control adjustments increased both ratios by 0.1 percentage points, while the risk this year is that new control adjustments may cause both ratios to decline slightly. (Jinshi)

China has granted approval for a new obesity treatment developed by Pfizer, intensifying competition in a market that is expected to become increasingly crowded with the anticipated entry of generic alternatives. Bloomberg posted on X, highlighting the significance of this development as pharmaceutical companies vie for a share in the lucrative obesity treatment sector. The approval marks a strategic move by Pfizer to strengthen its presence in China, a country with a growing demand for effective obesity management solutions. As the market evolves, the introduction of generics is likely to further challenge established players, prompting companies to innovate and adapt to maintain their competitive edge.

Binance announced that the Alpha airdrop will be available today at 18:00 (UTC+8). Users holding at least 241 Binance Alpha Credits are eligible to claim the tokens. It's on a first-come, first-served basis until the airdrop pool is depleted or the event ends.

Oil prices edged lower on Friday, offering a brief respite to battered global stock markets, but Asian stocks are still on track for their biggest weekly drop in six years as the Middle East conflict shows little sign of abating. Oil prices fell after reports that the U.S. government was considering possible intervention in the futures market to curb rising prices, but still post their biggest weekly gain since the Russia-Ukraine conflict began; oil prices have risen nearly 20% this week. Michael Brown, senior research strategist at Pepperstone, said oil prices are consolidating around current levels as a wait-and-see approach is currently dominant. Dalip Singh, chief global economist at PGIM Fixed Income, said the market needs to assess a range of more extreme scenarios, but reliable information on the likelihood of each scenario and its transition phases is currently scarce. (Jinshi)

Ukrainian Foreign Minister Andrii Sybiha has accused Hungary of unlawfully detaining seven employees of Ukraine's state-owned Oschadbank in Budapest. Bloomberg posted on X that this incident marks the latest in a series of disputes between the neighboring countries. The tensions between Ukraine and Hungary have been escalating, with various diplomatic disagreements arising over recent months. The Ukrainian government is seeking the immediate release of the detained individuals, emphasizing the importance of resolving the matter through diplomatic channels. Hungary has yet to respond to the allegations or provide further details regarding the detentions. The situation adds to the complex geopolitical dynamics in Eastern Europe, where historical and political issues often influence bilateral relations.

null source: https://x.com/BSCNews/status/2029812713183191085

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Jinse Finance launches its cryptocurrency and blockchain industry daily news bulletin, "Jinse Morning 8," issue 2987, providing you with the latest and fastest news on the digital currency and blockchain industry.