Drops

• Southeast Asian blockchain companies raised more than double the funding they received a year earlier, despite the total number of deals falling by nearly half. • Tokenization platforms, which turn physical assets into digital securities, led the sector by attracting $114 million in investment. • The market shows a steep drop-off in maturity, with only 167 of the 3,957 tracked companies reaching Series A funding or beyond.

• The Japanese yen has rallied sharply against the US dollar as financial markets increase their expectations for a Bank of Japan (BoJ) interest rate hike. • Market pricing now indicates that a rate increase this month is nearly fully anticipated by investors. • This shift reflects a growing belief that the BoJ will pivot away from its ultra-loose monetary policy to combat inflation or stabilize the currency.

• Bond market volatility has begun to stabilize following a drop in oil prices and pledges of "fiscal responsibility" from Burnham. • Analysts warn that bond yields may remain elevated despite economic slowdowns, as central banks could delay rate cuts while bond supply increases. • The current energy shock is creating a divide in the stock market, benefiting energy producers and oil-services firms that maintain disciplined spending and debt.

PM said he would set bar at £500k, but trade unions say funding reforms could undermine their ability to donate to LabourAndy Burnham has dropped his support for capping political donations, causing anger among activists and Labour MPs who have long campaigned for change to the way parties are funded.The prime minister has decided not to back amendments to the elections bill, which would cap the amount a person or an organisation can give in a single donation, according to government sources. Continue reading...

• The Iranian currency has plummeted to a record low against the US dollar as President Donald Trump claims the nation is "completely collapsing." • The US administration is preparing to unveil an "economic D-Day," a plan designed to tighten financial restrictions and increase pressure on Tehran. • Analysts note that Iran has developed a "survival economy" to endure sanctions, meaning the US must target clandestine trade and banking networks to be effective.

Prestige Brand Holdings has voluntarily recalled a batch of its Clear Eyes eye drops after FDA alertNearly 40,000 bottles of eye drops are being pulled from store shelves across the US over concerns about potential contamination, according to the Food and Drug Administration (FDA).Prestige Brand Holdings, based in Tarrytown, New York, has voluntarily recalled 39,060 bottles of Clear Eyes Maximum Itchy Eye Relief eye drops because of a “lack of assurance of sterility”, an FDA enforcement report states. The FDA classified the action as a Class II recall, defined on the agency’s website as a moderate-risk situation “in which use of or exposure to a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote”. Continue reading...

• On August 19, Japanese and South Korean stock markets plunged following a three-day decline in major U.S. indices, including a 1.33% drop in the Nasdaq. • South Korea's KOSPI fell over 6%, triggering a circuit breaker, while specific stocks like Kioxia dropped over 10% and SK Hynix also saw significant declines. • The sell-off was driven by a cooling risk appetite for global tech stocks, with the S&P 500 sliding 0.69% and the Dow Jones falling 0.22%.