Asia markets extend rally as Hong Kong eyes record

Asian traders continued their blistering start to the year on Monday with most markets rising and Hong Kong within spitting distance of its record high, while the euro extended its gains against the dollar. Wall Street once again provided a strong lead on the back of optimism about corporate earnings in light of Donald Trump’s tax… Please follow and like us:

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Bitcoin Exchanges Struggle To Work With Wary Banks

Cryptocurrency exchanges around the world are under an unprecedented amount of pressure. Meanwhile, Quartz reported Indian banks are delaying routine processes for local exchange platforms such as Koinex for several weeks. “A tussle between our payment service partner and their bank has caused an indefinite delay in the settlement of a large portion of deposits to… Please follow and like us:

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London investors may get access to Chinese bonds

Investors in London may get an opportunity to buy Chinese bonds on the Shanghai Stock Exchange, if a feasibility study proves positive. Sherry Madera, the City of London’s special representative for Asia, told journalists in the British capital on Tuesday that the feasibility study into the Shanghai-London connect will start soon. It could be the first… Please follow and like us:

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Asia stocks down as plunging oil prices hammer energy firms

Asian energy firms extended a global sell-off Wednesday, dragging regional equity markets, as oil prices continued to tumble on the back of warnings of slowing demand and rising stockpiles. Both main contracts were down more than one percent as investors were spooked after the International Energy Agency (IEA) cut its forecast for crude consumption, saying recovering… Please follow and like us:

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Investors swoop on $2b sovereign bonds issued in Hong Kong

China’s Ministry of Finance successfully launched $2 billion of sovereign bonds in Hong Kong on Thursday, attracting a wide range of global investors, including many from Europe, showing strong European investor confidence and demand for Chinese sovereign bonds. The bonds are the first US dollar denominated sovereign bonds to be issued by China in 13 years.… Please follow and like us:

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Non-renminbi bond floats catch HK fancy

The Hong Kong Special Administrative Region government may widen the ambit of profit tax exemption in the region to include the non-renminbi sovereign bonds issued by the central government, Paul Chan Mo-po, the city’s financial secretary, said. He made the statement during an investor meeting for the Chinese mainland’s planned $2 billion sovereign bond issue in… Please follow and like us:

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Foreign investors ready to connect with Chinese bonds

Global investors are expected to invest more in Chinese bonds through the mainland-Hong Kong connect on the back of the stable renminbi exchange rate and the country’s fast-growing economy, experts said. The bond connect platform opened last month. “Higher overall yield, comparatively healthier fundamentals and fast-growing economy attract foreign capital to China,” said Chen Jiahe, chief… Please follow and like us:

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Alibaba’s ‘new retail’ plan gets teeth

E-commerce giant Alibaba Group Holding Ltd is penetrating deeper into the offline sector to build its “new retail” model. It spent an estimated but unspecified amount of over HK$630 million ($80.88 million) for an 18 percent stake in Hong Kong-listed Lianhua Supermarket Holdings Co Ltd on Friday. Post the deal, which was announced by Lianhua, Alibaba… Please follow and like us:

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China Begins Opening Up $9 Trillion Bond Market

China, the world’s third-largest bond market accounting for $9 trillion in debt instruments, has started the process of opening up to foreign investors. Two major investment banks, including Citigroup, have announced plans to join the fray and several others are expectantly watching the unfolding situation. It’s not a sudden desire to liberalize, but pressure from shrinking… Please follow and like us:

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HSBC’s profits plunge dragging down share price

Annual profit at HSBC has slumped, hitting the share price of Europe’s largest bank which fell six percent in London and five percent in Hong Kong. Profit last year was much lower than expected, down 62 percent due to costs from restructuring and the writedown of the value of its private banking activity in Europe. HSBC… Please follow and like us:

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