All posts for the month July, 2013

Hong Kong banks’ marketing of FX-linked structured products sparks concern

Hong Kong banks’ marketing of FX-linked structured products sparks concern

If you walk into a bank you may spot signs in the teller queue displaying attractive deposit rates in a foreign currency.

If you ask about them, you’ll be whisked off to a special room to talk to an investment adviser, who will introduce you to an investment that is commonly sold in Hong Kong: the currency-linked deposit.

Make no mistake, these instruments are big business. A 2012 study by the Securities and Futures Commission found that currency-linked instruments comprised 65 per cent of all structured products sold to the public. That translates into annual sales of about HK$380 billion – and that excludes sales by banks.

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by admin on July 31, 2013  •  Permalink
Posted in Asia, China, Currency, Finance, Hong Kong, Investment
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Posted by admin on July 31, 2013

https://theasiancenturyreport.wordpress.com/2013/07/31/hong-kong-banks-marketing-of-fx-linked-structured-products-sparks-concern/

Bumpy landing for China possible: Nomura

Bumpy landing for China possible: Nomura

What if China’s economic slowdown gets out of hand?

It’s a bit of a long shot, but it’s a scenario being seriously considered by people who watch very closely, like Zhiwei Zhang, Nomura’s China chief economist.

The good news is that it’s not likely to turn into a global crisis-style meltdown.

The bad news is that it would be bad enough despite that.

After a long period of strong credit growth, the tighter monetary policy settings have set off a “systemic deleveraging process” that will continue until well into 2014, Dr Zhang said in a briefing to journalists on Tuesday.

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by admin on July 31, 2013  •  Permalink
Posted in Asia, China, Economics, Finance
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Posted by admin on July 31, 2013

https://theasiancenturyreport.wordpress.com/2013/07/31/bumpy-landing-for-china-possible-nomura/

GLOBAL MARKETS-Dollar steady before Fed, China shares gain on growth pledge

GLOBAL MARKETS-Dollar steady before Fed, China shares gain on growth pledge

TOKYO, July 31 (Reuters) – Chinese shares rose after Beijing pledged to keep economic growth stable in the second half of the year, while the dollar held onto slight gains as market momentum stalled ahead of the outcome of the U.S. Federal Reserve policy meeting on Wednesday.

European shares were expected to open steady, with London’s FTSE 100 seen up as much as 0.1 percent and Frankfurt’s DAX indicated flat, while U.S. S&P 500 index futures edged up 0.1 percent.

The dollar was steady against a basket of major currencies after a 0.2 percent rise on Tuesday. The dollar index is down 1.5 percent in July and set to post a second straight monthly loss for the first time since the turn of the year.

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by admin on July 31, 2013  •  Permalink
Posted in Asia, Finance, Market, Stock
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Posted by admin on July 31, 2013

https://theasiancenturyreport.wordpress.com/2013/07/31/global-markets-dollar-steady-before-fed-china-shares-gain-on-growth-pledge/

Former Mizuho Credit Trading Head Plans Own Hong Kong Hedge Fund

Former Mizuho Credit Trading Head Plans Own Hong Kong Hedge Fund

Jeffrey Yap, former head of Asian fixed-income trading at a unit of Mizuho Financial Group Inc. (8411), plans to start his own credit-focused hedge fund in Hong Kong.

Yap, who worked for Mizuho Securities Asia Ltd. until May, will be joined at Ark One Ltd. by two other founding partners he declined to identify. They plan to open the fund to investors in mid-August, pending license approval by the city’s Securities and Futures Commission, he said in an interview in Hong Kong yesterday.

Yap is the latest credit trader to start a fund amid record debt sales in the region spurred by lowinterest rates and yield premiums for risky borrowers, combined with regulatory relaxation. Equity hedge funds still account for 71 percent of regional industry assets, compared to 27 percent globally, according to Chicago-based Hedge Fund Research Inc.

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by admin on July 31, 2013  •  Permalink
Posted in Asia, Business, Finance, Hong Kong, Investment
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Posted by admin on July 31, 2013

https://theasiancenturyreport.wordpress.com/2013/07/31/former-mizuho-credit-trading-head-plans-own-hong-kong-hedge-fund/

Asia Private Equity Weekly News, July 29, 2013

Asia Private Equity Weekly News, July 29, 2013

MALAYSIA’S STATE pension fund will invest half a billion euros ($660 million) in industrial property in Germany and office space in France, according to sources familiar with the deals, signalling growing appetite for high-yielding property assets as Europe’s main economies show signs of recovery.

MEIJI YASUDA Life Insurance Co said it has agreed to buy a 15 percent stake in Thai Life Insurance Co as Japanese insurers step up their presence in Southeast Asia.

CHINA’S $500 billion sovereign wealth fund, China Investment Corp, returned to profit growth in 2012, citing growing traction in the global recovery at the end of the year and a steady improvement in risk asset prices.

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by admin on July 31, 2013  •  Permalink
Posted in Asia, Business, Finance, Industry
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Posted by admin on July 31, 2013

https://theasiancenturyreport.wordpress.com/2013/07/31/asia-private-equity-weekly-news-july-29-2013/

Social enterprise in Asia and Europe – learning from each other

Social enterprise in Asia and Europe – learning from each other

Earlier this month, over two days in Berlin, more than 30 social entrepreneurs from more than 20 countries in Asia and Europe met to discuss how to develop a better policy context for social enterprises in the two continents. The gathering was organised by the British Counciland the Asia Europe Foundation, and sponsored by the government of Japan.

The two days comprised a visit to Berlin social enterprises – Ruby Cupand Fairnopoly – and discussion with their founders about how they operate and are funded; briefings from leading social entrepreneurs such as Penny Newman from the UK and Muhammad Ali of BRAC; and a series of seminars and workshops, aimed at finding a consensus between participants about how policy can support social enterprise in both Asia and Europe.

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by admin on July 29, 2013  •  Permalink
Posted in Asia, Asian conferences, Business, Europe, Industry
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Posted by admin on July 29, 2013

https://theasiancenturyreport.wordpress.com/2013/07/29/social-enterprise-in-asia-and-europe-learning-from-each-other/

Credit squeeze in Asia now worst since financial crisis

Credit squeeze in Asia now worst since financial crisis

Bank lending conditions in emerging Asian nations have tightened the most since the global financial crisis, according to the latest survey from the Institute of International Finance (IIF).

The report shows the region`s headline index falling to a reading of 45.7, below the key 50-level that divides easing and tightening territory and its lowest level since the beginning of the survey in 2009.

Asia also showed the tightest lending conditions of global emerging regions.

The survey questioned 133 banks across Latin America, Europe, Asia and the Middle East- Africa region and Asia`s headline figure of 45.7 was the lowest. Latin America was second-worst at 47.6 while Africa and the Middle East had the best result at 52.9.

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by admin on July 29, 2013  •  Permalink
Posted in Asia, Bank, Business, Economics, Finance
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Posted by admin on July 29, 2013

https://theasiancenturyreport.wordpress.com/2013/07/29/credit-squeeze-in-asia-now-worst-since-financial-crisis/

Oil drops as Asian stock markets fall

Oil drops as Asian stock markets fall

West Texas Intermediate, the benchmark for U.S. crude, was down 39 cents to $104.31 per barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange. The contract fell 79 cents to close at $104.70 on Friday in New York.

Tetsu Emori, commodity markets fund manager at ASTMAZ Futures in Tokyo, said the weak performance of Japan’s stock market spilled over into energy trading. The benchmark Nikkei 225 index dropped 2.5 percent, weighed down by a strengthening yen and worries about China’s economy.

“The Japanese market is down very sharply,” he said. “That may be some of the reason” for crude’s decline.

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by admin on July 29, 2013  •  Permalink
Posted in Asia, Business, Economics, Finance, Market
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Posted by admin on July 29, 2013

https://theasiancenturyreport.wordpress.com/2013/07/29/oil-drops-as-asian-stock-markets-fall/

Japan stocks stumble to lead broad Asian losses

Japan stocks stumble to lead broad Asian losses

HONG KONG (MarketWatch) — Japanese stocks ended at their lowest level in more than a month Monday as a strengthened yen weighed down exporters, while economic worries hurt mainland Chinese shares.

The Nikkei Stock Average JP:NIK -3.32%  ended 3.3% down at 13,661.13 for its lowest finish since June 27, while the Shanghai Composite CN:SHCOMP -1.72% fell 1.7%. Both benchmarks had also dropped in the previous three sessions.

The losses in Tokyo came ahead of a busy week of earnings, with Toyota Motor Corp.JP:7203 -4.07% TM -3.29% , Honda Motor Co.JP:7267 -3.03%   HMC -1.68% , Sony Corp.JP:6758 -3.56% SNE -1.25%  and Softbank Corp. JP:9984 -4.29%   SFTBF -3.21% due to announce their quarterly results and update their outlook.

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by admin on July 29, 2013  •  Permalink
Posted in Asia, Finance, Japan, Market, Stock
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Posted by admin on July 29, 2013

https://theasiancenturyreport.wordpress.com/2013/07/29/japan-stocks-stumble-to-lead-broad-asian-losses/

Connections trump everything in world of private equity in China

Connections trump everything in world of private equity in China

Private equity doesn’t have a long history in China, but it has grabbed attention over the past few years, partly because of the individuals standing behind the businesses. In other words, people are key in China. I mean, well, those special people.

How special is special? What kind of people are private equity funds looking for in China? Here is a job e-mail I received from a headhunter last week who is helping an unidentified “well established private equity firm with both US-dollar and yuan-denominated investment platforms” to hire a vice-president-level investment professional.

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by admin on July 29, 2013  •  Permalink
Posted in Asia, Business, China, Finance
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Posted by admin on July 29, 2013

https://theasiancenturyreport.wordpress.com/2013/07/29/connections-trump-everything-in-world-of-private-equity-in-china/

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