SEOUL (Reuters) - South Korea has ordered Facebook owner Meta Platforms (NASDAQ:META) to pay 21.62 billion won ($15.67 million) in fines after finding it had collected sensitive user data and given it to advertisers without a legal basis, Seoul's data protection agency said.

The U.S. tech giant obtained information from about 980,000 South Korean Facebook users on issues such as their religion, political views and sexuality while failing to seek agreement from users, the Personal Information Protection Commission said in a statement on Tuesday.

The information was then used by some 4,000 advertisers, the agency said.

A Meta Korea official declined to comment.

"Specifically, it has been found that (Meta) analysed user behaviour data such as pages they liked and advertisements they clicked on Facebook and created and managed advertising themes related to sensitive information," the commission said.

This included users being categorised for example as being North Korean defectors, following a certain religion, or identifying as a transgender or gay person, the agency said.

Meta had also unfairly declined a request by users to access personal information and failed to prevent data on about 10 South Koreans from being leaked by hackers, the agency said.

($1 = 1,379.5200 won)

By Nandita Bose and Steve Holland

PHILADELPHIA/GRAND RAPIDS, Michigan (Reuters) - Donald Trump and Kamala Harris both predicted victory as they campaigned across Pennsylvania and other battleground states on Monday in the final, frantic day of an exceptionally close U.S. presidential election.

The campaign has seen head-spinning twists: two assassination attempts and a felony conviction for Republican former President Trump, and Democratic Vice President Harris' surprise elevation to the top of the ticket after President Joe Biden, 81, dropped his reelection bid under pressure from his own party. More than $2.6 billion has been spent to sway voters' minds since March, according to AdImpact, an analytics firm.

Nevertheless, opinion polls show Trump, 78, and Harris, 60, virtually even. The winner may not be known for days after Tuesday's vote, though Trump has already signaled that he will attempt to fight any defeat, as he did in 2020.

Both candidates converged on Pennsylvania on Monday to urge supporters who have not yet cast their ballots to show up on Election Day. The state offers the largest share of votes in the Electoral College of any of the seven battleground states expected to determine the outcome.

Trump campaigned in North Carolina, Pennsylvania and Michigan on the final full day of the campaign and was due to return to his home in Palm Beach, Florida, to vote and await election results.

Harris scheduled five campaign stops in Pennsylvania, including two cities where Trump also visited, Reading and Pittsburgh.

She ended the day in Philadelphia with a star-studded event at the "Rocky steps" of the Philadelphia Museum of Art, the site of a famous scene from the movie "Rocky."

By Tom Westbrook

SINGAPORE (Reuters) - Stock markets moved sideways and an uneasy calm settled over currencies and bonds as investors waited for the United States to choose a new leader with polls showing the contest on a knife edge.

Oil held sharp overnight gains on delays to producers' plans for increased output, leaving benchmark Brent crude futures at $75.08 a barrel after a 3% rise on Monday.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat. Tokyo's Nikkei returned from a holiday and rose 1.3% in morning trade.

S&P 500 futures ticked 0.1% higher.

The dollar, which had eased overnight as traders made final adjustments to positions, bought 152.35 yen and traded at $1.0875 per euro.

"They've priced what they think is price-able and that's that," said Westpac strategist Imre Speizer, adding that a clear win for Republican Donald Trump would lift the dollar, while a win for Democrat Kamala Harris would push it a little lower.

Election day ends an acrimonious campaign jolted by assassination attempts on Trump and the withdrawal of President Joe Biden in favour of Harris, with polls showing the candidates virtually tied.

Markets are on edge about how Trump's protectionist trade policies in particular could stoke inflation and hit exports in the world's biggest consumer market with bonds and the dollar expected to move on the outcome of the election.

"Ultimately the U.S. election comes down to this - whether the U.S. electorate wants to vote for economic policy continuity, institutional stability and liberal democracy (Harris) or radical trade policy, a further retreat for globalization and strongman democracy (Trump)," J.P. Morgan analysts said in a note. "In short, a vote for stability or change."

BRACED

China is seen on the front line of tariff risk and the currency in particular is trading on tenterhooks with implied volatility against the dollar at record highs.

The yuan hovered at 7.1065 per dollar, while broader foreign exchange markets were steady. Traders kept one eye on a Reserve Bank of Australia rate decision, due at 0330 GMT, though no policy change is expected and most are keeping to the sidelines in order to trade quickly on election results.

The Australian dollar held at $0.6590. [AUD/]

"Simply, if Harris wins, we like selling dollar/yen and buying AUDUSD," said currency strategists at Citi. "If Trump wins, we like buying USD against EUR, SEK, and NOK."

Treasury markets, which have also priced in a U.S. interest rate cut for Thursday, held their ground in Asia with 10-year U.S. yields at 4.30%.

Bitcoin, which is seen as a beneficiary of a softer regulatory environment should Trump win office, has sold from recent highs and was steady at $67,924 on Tuesday.

When results roll in after midnight GMT the focus will be on battleground states of Georgia, North Carolina, Pennsylvania, Michigan, Arizona, Wisconsin and Nevada.

A winner may not be known for days and Trump has signalled that he will attempt to fight any defeat, as he did in 2020.

SEOUL (Reuters) - South Korea's October headline inflation slowed further to the weakest level in almost four years, data showed on Tuesday, strengthening the case for more interest rate cuts and fueling worries of an undershoot of the Bank of Korea's 2% target.

The consumer price index rose 1.3% in October from a year earlier, after an increase of 1.6% in September, Statistics Korea data showed, marking the slowest annual increase since January 2021.

That was weaker than a median 1.4% increase tipped in a Reuters poll of economists.

Declining prices of global oil and fresh food prices have been stabilising local inflationary pressure, although the fading low-base effects from last year could temporarily push up headline inflation going forward, according to the Bank of Korea.

"As for the future price path, core prices are expected to continue a stable trend around 2%, and consumer prices are also expected to approach 2% toward the end of the year," the BOK said in a statement after the data was released.

The BOK voted 6-1 to cut policy interest rates to 3.25% on October 11 as uncertainties regarding the future path of output increased while headline inflation in September undershot the bank's 2% target.

A separate poll conducted in early October showed analysts expect the country's base rate to remain at 3.25% by the end of this year.

The inflation index was unchanged on a monthly basis from September, also weaker than a 0.2% gain forecast in the poll.

The so-called core price index, which strips out volatile food and energy prices, increased 1.8% from a year earlier, the weakest since Sept. 2021.

Prices of apple and green onions dropped 20% and 13.9% from a year earlier, respectively. Petroleum prices decreased 10.6% on the year.

Investing.com-- The S&P 500 closed lower Monday as traders opted for caution ahead of the presidential election and the Federal Reserve's rate decision later this week. 

At 4:00 p.m. ET (2100 GMT), the Dow Jones Industrial Average dropped 257 points, or 0.6%, the S&P 500 index slipped 0.3%, and NASDAQ Composite fell 0.3%.

Trump, Harris set for tight presidential race

Investors were largely on edge before presidential elections on Tuesday, with recent polls showing Donald Trump and Kamala Harris were set for a tight race.

Recent increases in the dollar and Treasury yields showed some investors were positioning for a Trump victory, which is expected to result in more inflationary policies.

Analysts indicating that the outcome could significantly impact the market performance, especially the Big Tech sector.

Specifically, according to Wedbush analysts, a potential Trump victory is causing concern among global tech investors due to the possible escalation of the US-China tech conflict and increased tariffs.

“A major change in tariffs and a harsher stance on China we believe would significantly impact the supply chain, Nvidia (NASDAQ:NVDA), Beijing retaliatory impacts on Apple/Tesla likely, and slow the pace of the AI Revolution,” analysts led by Dan Ives said in a note.

NVIDIA Corporation (NASDAQ:NVDA), meanwhile, is set to join the Dow Jones Industrial Average on Friday, replacing struggling chipmaker intel.  

The quarterly earnings season is set to continue, with around a fifth of the companies in the benchmark S&P 500 due to unveil their latest quarterly earnings this week.

Earnings season continues 

Berkshire Hathaway Inc Class A (NYSE:BRKa)'s weaker than expected Q3 operating earnings totaled of $10.1B in the third quarter missed analyst forecasts, sending the stock more than 2% lower.

Marriott International (NASDAQ:MAR) stock fell 1.6% after the hotel operator cut its annual profit forecast, as domestic travel demand in the U.S. and China remains weak.

Viking Therapeutics (NASDAQ:VKTX) stock gave up gains to trade 13% lower as concerns about the drug maker's ability to mass produce its oral weight-loss drug offset better-than-expected results from a Phase 1 trial.

Fed set to cut interest rates

Focus this week is also on a Fed meeting, with the central bank widely expected to cut interest rates by 25 basis points after a 50 bps cut in September.

Markets will be watching for any commentary from the Fed on its plans for future rate cuts, especially in the light of recent data showing resilience in the U.S. economy and stickiness in inflation, which dampen the outlook for lower rates.

"We expect that the FOMC will deliver a 25 bp cut next week, and the focus will be on potential statement changes and the press conference with Chair Powell," UBS said in a recent note.

But Fed Chair Jerome Powell is unlikely to commit to any set pace of monetary easing, given that the central bank has so far maintained a data-driven approach to policy.

Still, the meeting comes after nonfarm payrolls data on Friday showed job growth slowed sharply in October, with a downward revision in readings for the past two months indicating that the labor market was cooling.

(Peter Nurse, Ambar Warrick contributed to this article.)

By Liz Lee

BEIJING (Reuters) -China has urged France to push the European Commission towards a solution acceptable to both the European and Chinese electric vehicle industries, while France said the bloc would not yield on key matters as it pushes to overturn a tariff on brandy.

The EU launched an anti-subsidy investigation into imports of Chinese-made battery EVs last year and in October voted for tariffs on those vehicles. China in recent months has launched its own investigations into European pork and dairy, and imposed temporary anti-dumping measures on imports of brandy from the EU in October.

Chinese Commerce Minister Wang Wentao, in a meeting with French junior trade minister Sophie Primas in Shanghai on Sunday, urged Paris to take on "an active role" to nudge the EU on Chinese EVs.

He reiterated the bloc's investigation was a major concern that has "seriously hindered" China-EU auto industry cooperation.

Primas told Wang that EU refuses to escalate the situation and continues to trade with China "but will not yield to pressure on the essential points".

"We will continue to defend fairer competition that benefits everyone," a statement from her press office showed, adding that Wang was open in their discussions to consider the propositions of French brandy producers.

Primas is on a three-day visit to challenge China over its import duties on brandy, which Paris calls political and unjustified, Reuters reported last week.

Wang told Primas Beijing's trade remedy investigations on EU brandy, pork and dairy products were in accordance with the domestic industry's applications and complied with the World Trade Organization rules, "unlike the EU" which was "rash" in launching its EV probe.

By Shaloo Shrivastava

BENGALURU (Reuters) - India's manufacturing growth gained momentum in October after decelerating for three months as demand improved significantly, helping in job creation and leading to a better business outlook, according to a business survey released on Monday.

The HSBC final India Manufacturing Purchasing Managers' Index, complied by S&P Global, rose to 57.5 in October from an eight-month low of 56.5 in September and was above a preliminary estimate of 57.4.

"India's headline manufacturing PMI picked up substantially in October as the economy's operating conditions continue to broadly improve," noted Pranjul Bhandari, chief India economist at HSBC.

"Rapidly expanding new orders and international sales reflect strong demand growth for India's manufacturing sector."

The output and new orders sub-indexes rose to three-month highs with a notable increase in demand.

International demand improved from a year-and-a-half low in September. A desire for Indian goods lead to orders from Asia, Europe, Latin America and the U.S.

Buoyant demand also boosted the outlook for the year ahead.

"Business confidence is also very high due to expectations of continued strong consumer demand, new product releases, and sales pending approval," added Bhandari.

To meet growing demand, firms took on many more workers than in September. Hiring increased for an eighth consecutive month.

That would probably bring some relief to the government, which has failed to create enough well paying jobs for those entering the workforce. Economists cautioned job creation will remain muted over the next 12 months, a Reuters poll published a week ago showed.

Inflationary pressures increased with both input and output prices rising faster. Input cost inflation was the highest in three months, elevated by higher material costs, wage bills and transportation fees.

Firms passed on the extra costs to their clients at a much quicker pace than in September.

India's inflation rose to a nine-month high of 5.49% in September, largely driven by higher food prices and close to the upper end of the Reserve Bank of India's (RBI) 2-6% target.

Despite that, a separate Reuters poll last week showed a slim majority of economists expected the RBI to cut interest rates in December, to 6.25% from 6.50% currently.

Investing.com-- Most Asian stocks rose on Monday with investors looking to more cues on fiscal stimulus from a meeting of China’s top policymakers this week, although risk aversion before the U.S. elections kept gains limited.

Regional trading volumes were also low on account of a market holiday in Japan. Nikkei 225 futures fell 0.2%. 

Asian markets took some positive cues from a softer-than-expected U.S. nonfarm payrolls reading on Friday, which furthered bets that a cooling labor market will bring more interest rate cuts from the Federal Reserve. 

U.S. stock steadied in Asian trade, with focus also turning to an upcoming Fed meeting this week. 

Chinese stocks upbeat as NPC meeting begins

China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose 0.5% and 0.3%, respectively, while Hong Kong’s Hang Seng index added 0.7%.

The National People’s Congress’ Standing Committee begins a four-day meeting on Monday, where the body is widely expected to outline more fiscal spending.

Recent reports said the body could approve an additional $1.4 trillion in new debt over the coming years to boost growth, especially as the Chinese economy grapples with persistent deflation and a prolonged property market crash.

The NPC meeting is likely to provide more cues on the implementation and scale of fiscal support outlined by Beijing over the past month. While Chinese stocks had initially clocked strong gains on optimism over the new measures, they trimmed a bulk of these gains on doubts over the timing and scale of the stimulus. 

Australia stocks rise, RBA in focus

Australia’s ASX 200 added 0.3%, remaining close to recent record highs with focus squarely on a Reserve Bank of Australia meeting on Tuesday.

The RBA is widely expected to keep rates unchanged, although the central bank may strike a hawkish tone due to Australian inflation remaining sticky. 

The RBA is also expected to flag a potential delay in any plans to cut interest rates, due to sticky inflation and strength in the job market. ANZ expects the central bank to only begin cutting rates in the first quarter of 2025. 

Broader Asian markets advanced, although gains were mostly skittish in anticipation of the U.S. elections and the Fed meeting. 

Recent polls showed Donald Trump and Kamala Harris were set for a tight race on Tuesday. Increased speculation over a Trump victory had pressured Asian markets in recent sessions, given that Trump has vowed to impose steep trade tariffs on China.

On Monday, South Korea’s KOSPI rose 1.4%, outperforming its regional peers on strength in local chipmaking stocks.

Futures for India’s Nifty 50 index pointed to a flat open, as Indian stocks struggled after tumbling from record highs in October. More key Indian earnings are also due this week.

By Wayne Cole

SYDNEY (Reuters) - The dollar slipped in Asia on Monday as investors braced for a potentially pivotal week for the global economy as the United States chooses a new leader and, probably, cuts interest rates again with major implications for bond yields.

The euro rose 0.4% to $1.0876 but faces resistance around $1.0905, while the dollar dipped 0.3% on the yen to 152.45 yen. The dollar index eased 0.3% to 103.94.

Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls and the winner might not be known for days after voting ends.

Analysts believe Trump's policies on immigration, tax cuts and tariffs would put upward pressure on inflation, bond yields and the dollar, while Harris was seen as the continuity candidate.

Dealers said the early dip in the dollar might be linked to a well-respected poll that showed Harris taking a surprise 3-point lead in Iowa, thanks largely to her popularity with female voters.

"It is widely considered that a Trump win will be positive for the USD, though many feel this outcome has been discounted," said Chris Weston, an analyst at broker Pepperstone. "A Trump presidency with full control of Congress could be most impactful, as one would expect a solid sell-off in Treasuries resulting in a spike higher in the USD."

"A Harris win and a split Congress would likely result in 'Trump trades' quickly reversed and priced out," he added. "The USD, gold, bitcoin and U.S. equity would likely head lower."

Uncertainty over the outcome is one reason markets assume the Federal Reserve will choose to cut rates by a standard 25 basis points on Thursday, rather than repeat its outsized half-point easing.

Futures imply a 99% chance of a quarter-point cut to 4.50%-4.75%, and an 83% probability of a similar-sized move in December.

"We are pencilling in four more consecutive cuts in the first half of 2024 to a terminal rate of 3.25%-3.5%, but see more uncertainty about both the speed next year and the final destination," said Goldman Sachs economist Jan Hatzius.

"Both our baseline and probability-weighted forecasts are now a bit more dovish than market pricing."

The Bank of England also meets Thursday and is expected to cut by 25 basis points, while the Riksbank is seen easing by 50 basis points and the Norges Bank is expected to stay on hold.

The Reserve Bank of Australia holds its meeting on Tuesday and again is expected to hold rates steady.

The BoE's decision has been complicated by a sharp sell-off in gilts following the Labour government's budget last week, which also dragged the pound lower.

Early Monday, sterling had regained some of its losses to stand at $1.2963, some way from last week's trough at $1.2841. [GB/]

More stimulus is also expected from China's National People's Congress, which is meeting from Monday through Friday.

Sources told Reuters last week that Beijing is considering approving next week the issuance of more than 10 trillion yuan ($1.40 trillion) in extra debt in the next few years to revive its fragile economy.

Investing.com -- It’s set to be another nail-biting week for investors as U.S. voters go to the polls in a too close to call presidential election race that will have far-reaching consequences for fiscal policy and global trade. Meanwhile, the Federal Reserve is expected to deliver another rate cut at its latest policy meeting with investors on the lookout for clues on the future path of interest rates. Here's your look at what's happening in markets for the week ahead.

1. U.S election

Election day is on Tuesday with early voting already well underway in a tight race for the White House, pitching Republican Donald Trump against Democrat Kamala Harris.

Recent gains in Treasury yields and the dollar are seen by some analysts as the market anticipating a win for Trump. But polls suggest a very close race, meaning that a victory by the Democrat could spark a rash of trading unwinds.

Traders may just be rooting for a clear result, fearing a potentially contested election and lengthy period of uncertainty about the outcome as a significant risk to markets.

Only seven states are seen as truly competitive, but a poll released on Saturday showed Harris holding a surprise lead in Iowa, a state Trump won easily in the last two elections, though another poll showed her trailing in that state.

2. Fed meeting

The Fed is widely expected to deliver a 25-basis point rate cut at the conclusion of its latest policy meeting on Thursday, followed by another in December, after September’s 50-bps reduction.

Friday’s nonfarm payrolls report, which showed that jobs growth almost stalled in October amid the impact of strikes and weather disruptions, cemented expectations for a smaller rate cut. Jobs growth for the prior two months was revised lower, indicating that the labor market is gradually cooling.

Investors will be hoping the Fed's statement and comments by Fed Chair Jerome Powell at the post policy meeting press conference will show whether officials believe economic resilience will continue - and if they might cut rates more slowly as a result.

But analysts at Morgan Stanley said in a note Friday that they don’t expect Powell "to commit to the size or cadence of future cuts but to reiterate that the Fed remains data dependent."

3. Earnings season

Third quarter earnings season continues, with a slew of results due in the coming days, even though investors will likely be focusing their attention on the election and the Fed.

Palantir (NYSE:PLTR) and Constellation Energy (NASDAQ:CEG) are both due to report on Monday, followed a day later by Builders FirstSource Inc (NYSE:BLDR), Ferrari (NYSE:RACE) and Super Micro Computer (NASDAQ:SMCI). Shares in SMCI lost almost 45% last week after a regulatory filing revealed that Ernst & Young resigned as the company's accountant.

Qualcomm (NASDAQ:QCOM), CVS (NYSE:CVS) and Arm Holdings (NASDAQ:ARM) are due to report on Wednesday, with investors on the lookout for any update from Arm on its lawsuit against Qualcomm.

Pinterest (NYSE:PINS), DraftKings (NASDAQ:DKNG), Cloudflare (NYSE:NET) and Affirm (NASDAQ:AFRM) are among some of the names due to report on Thursday.

4. Bank of England rate cut

The Bank of England meets on Thursday and is widely expected to lower rates by 25 bps, after cutting rates for the first time in more than four years in August. The policy decision could draw extra attention, coming on the heels of the Labour government's new budget.

Investors are now anticipating fewer BoE interest rate cuts next year as plans for higher borrowing and spending unveiled in last Wednesday’s budget saw UK borrowing costs rise to their highest levels in a year.

Elsewhere, the Reserve Bank of Australia is expected to keep its key interest rate unchanged on Tuesday and for the rest of this year, as strong economic activity and sticky core inflation still warrant a cautious approach.

5. Oil prices

Oil prices look set to remain volatile as geopolitical risk premium offsets concerns over rising supply and a weaker demand outlook.

Oil prices rose on Friday amid reports that Iran is preparing a retaliatory strike on Israel to be launched from Iraq within days. Iran and Israel have engaged in a series of tit-for-tat strikes within the broader Middle East warfare set off by fighting in Gaza.

Prices were also supported by expectations OPEC+ could delay December's planned increase to oil production by a month or more on concern over soft oil demand and rising supply. A decision could be made as early as this week.

For the week, Brent posted a decline of about 4%, while U.S. crude futures were down about 3% as record U.S. output weighed.

--Reuters contributed reporting