Posts by Mark Darwin
Hong Kong equity deals boom as Chinese firms rush to market
Initial public offerings, secondary share sales and equity-linked transactions are all poised for a boom period [HONG KONG] Hong Kong bankers have ended the summer lull with a bang, closing billions of US dollars of capital market deals as China’s corporate giants rush to raise cash. So frenetic is the pace that three Hong Kong-listed…
Read MoreTrump administration orders Delta, Aeromexico to end joint venture by Jan 1
[WASHINGTON] The Trump administration said late on Monday it was ordering Delta Air Lines and Aeromexico to unwind a joint venture by Jan 1 that let the carriers coordinate scheduling, pricing and capacity decisions for US–Mexico flights. The US Transportation Department in July had proposed ending the nearly nine-year-old joint venture as part of a…
Read MoreOil settles higher as investors assess attacks on Russian energy facilities
[HOUSTON] Oil prices settled higher on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries and of US President Donald Trump pressing Nato nations to halt Russian oil purchases. Brent crude futures settled up 45 cents, or 0.67 per cent, at US$67.44 a barrel while US West Texas Intermediate crude settled 61 cents higher, up…
Read MoreTrump says companies should report earnings every six months
[WASHINGTON] President Donald Trump said companies should not be forced to deliver earnings reports on a quarterly basis, saying he preferred a six-month schedule he cast as saving businesses time and money. “Subject to SEC Approval, Companies and Corporations should no longer be forced to “Report” on a quarterly basis (Quarterly Reporting!), but rather to…
Read MoreWhether it’s one rate cut or more, Fed’s Powell likely to act with caution as inflation stays high
US central bank expected to cut rates by 25 basis points to a range of between 4% and 4.25 % this week A US Federal Reserve rate cut this week is already priced into US stocks, and the big question now is whether it will be the last. Famously, the stock market perceives any rate…
Read More‘Implications go far beyond SGX’ should Singapore’s best companies choose to list overseas: Koh Boon Hwee
[SINGAPORE] The Republic needs “an ambitious and broad vision” for its capital markets, as well as a policy framework that will help realise that vision – or risk far-reaching impact that goes beyond the local bourse, said Singapore Exchange (SGX) chairman Koh Boon Hwee. “Here’s the hard truth: If our best companies choose to list…
Read MoreMAS needs to boost retail share of IPO listings
It would be fairer to retail investors and add to market liquidity given the larger pool of shareholders I REFER to the commentary “It’s sink or swim time for local small and mid-cap stocks” (BT Sep 10). The Monetary Authority of Singapore’s (MAS) Equity Market Development Plan (EQDP) to boost small and mid-cap stocks needs…
Read MoreBYD’s US$45 billion stock wipeout raises doubts on China outlook
At the same time, rivals including Geely Automobile Holdings and Zhejiang Leapmotor Technology are gaining ground [HONG KONG] BYD faces pressure to restore investor confidence after a US$45 billion stock sell-off, with growing concerns over its ability to fend off competition amid a destructive price war in China. The Chinese electric-vehicle (EV) maker’s Hong Kong-listed…
Read MoreYuan’s gradual advance may offer boost to emerging currencies
CHINA’S new-found tolerance for steady yuan appreciation looks set to re-accelerate a rally in emerging-market (EM) currencies, as investors brace themselves for lower US interest rates. Supporting such expectations is EM currencies’ sensitivity to changes in the yuan. A Bloomberg analysis shows that over the past year, for every 1 per cent yuan move, the…
Read MorePeak number of private equity firms seen running zombie risk
A RECORD number of private equity firms will turn into so-called zombie funds this year, as they struggle to reel in new investor cash, according to Ian Charles, co-founder and managing partner at Arctos Partners. “The fundraising environment is so challenging,” Charles said in an interview with Bloomberg TV on Thursday (Sep 11), adding that…
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