Peter Burnett OBE BBS

Sinohope Technology Holdings Limited (1611.HK) announced that its subsidiary, Sinohope Asset Management (Hong Kong) Limited (“Sinohope AM”), has received approval from the Hong Kong Securities and Futures Commission for its application for a Type 1 (dealing in securities) license and an uplift of its Type 4 (advising on securities) license. With the new Type 1 license, Sinohope AM will be able to distribute virtual asset (VA) related products to professional investors, including but not limited to VA funds and VA structured products. As a Type 4 license holder, Sinohope AM can now also provide VA advisory services under its uplifted license. We look forward to leveraging these new licenses to better serve professional investors with innovative VA offerings. Thanks the help from Jason Chan (Howse Williams) in securing the license approval in less than half a year, we were able to obtain these licenses in an efficient timeframe. SINOHOPE Asset 新火科技

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CSI Guoxin HK Connect Central SOE Dividend ETF Listed in Shanghai and Hong Kong! 🌟 On July 12, the CSI Guoxin HK Connect Central SOE Dividend ETF was listed on both the Shanghai and Hong Kong Stock Exchanges. The launch event in Shanghai featured ETF managers, central SOE representatives, and over 30 institutions. China Reform Holdings highlighted the ETF's role in connecting central SOEs with international capital, supporting high-quality development. A Hong Kong official noted the region's significance as an international financial center, aiding mainland enterprises. ETFs are key tools for wealth management. This listing enhances investor satisfaction and strengthens financial ties between mainland China and Hong Kong.🌐📈 👉 Read more: https://lnkd.in/gzMPDcqq #Finance #ETFs #CapitalMarkets #Investment #SOEs #Shanghai #HongKong #FinancialServices #GlobalMarkets #WealthManagement #EconomicGrowth #SSE #ShanghaiStockExchange #CSIIndex #ETF #2024 #mainland #China #HongKong #investors #Stock #MarketShare #ChinaSecurities #BondMarket #MaketEconomy #Listedcompany #Trading #InvestChina #CSRC #SecuritiesLending #MarketStability #Regulation #InvestorProtection #Finance #ChinaFinance #MarketRegulation

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HKSAR Government's Institutional Green Bonds Offering The Government of the Hong Kong Special Administrative Region of the People's Republic of China (the HKSAR Government) today (18 July) announced the successful offering of approximately HK$25 billion worth of green bonds (the Green Bonds), denominated in Renminbi (RMB), US dollars (USD), and euro (EUR) under the Government Sustainable Bond Programme (previously known as the Government Green Bond Programme). Following a virtual roadshow on 16 July 2024, the Green Bonds were priced on 17 July 2024 as follows: ·RMB 2 billion 2-year tranche at 2.60%; ·RMB 2 billion 5-year tranche at 2.70%; ·RMB 2 billion 10-year tranche at 2.80%; ·RMB 2 billion 20-year tranche at 3.05%; ·RMB 2 billion 30-year tranche at 3.15%; ·US$1 billion 3-year tranche at 4.336%; and ·EUR 750 million 7-year tranche at 3.379%. #greenbond #HongKong #HKMA #offshore #RMB

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With Fed announced 50 bps rate cut, what’s the impact to the investment market? Find below for some insights!

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*Morning Market Update*: Gift Nifty 22826(-111)-0.49%(PE 21.74) Dow Jones 38853(-217)-0.55% Nikkei 38820(-36)-0.09% Hang Seng 18579(-242)-1.29% Shanghai 3110(+10)+0.31% Brent Crude $84.46 Gold $2358 $/Rs 83.18 FII+66cr DII+3232cr 10 Yr GSec 6.54-2034 YTM 7.0 *News & Views*: * US mkts closed mixed; Nasdaq crossed 17k led by Nvidia * Asian mkts trading mixed lacking conviction * Nifty: Support 22800 Resistance 23050 * LG Electronics India eyes IPO after Hyundai's move; no final decision yet * India & France to begin negotiations for Rafale Marine jet deal tmrw rafale #lgelectronics #Hyundai #technicalanalysis #Nasdaq #Nvidia #stockmarkets #Nifty #sensex

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NSSK (日本産業推進機構), advised by BDA Partners, has agreed to sell its stake in #JapanEnergyComponents to Obara Group Incorporated, a Japan-based machine industry company. #power #energy #welding #bdapartners #theglobalinvestmentbankingadvisorforasia

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Trustar Capital, a subsidiary of CITIC Capital, has raised CNY7.249 billion ($1 billion) for a continuation fund that will hold the Chinese private equity firm's controlling stake in McDonald's China. The Qatar Investment Authority, Qatar’s sovereign wealth fund, committing the largest amount, to become the anchor investor. China Investment Corporation and other yuan-denominated investors also participated in the deal. Trustar transferred its equity interest in McDonald's China from its private equity fund into the continuation fund, which will hold 52% of the operations. This deal underscores the growing importance of continuation funds as a liquidity tool in Asia's private equity landscape. It also highlights the enduring appeal of well-established consumer brands like McDonald's in China market, despite recent economic headwinds. Will we see the near-term growth prospects for McDonald's China? #China #privateequity #deal #middleeast #sovereignwealthfund

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abrdn Asian Income Fund Limited is an investment company that offers the prospect of both capital and income growth and could be considered a core offering for investors seeking diversification through #Asian equity exposure. Hear from Edison's Milosz Papst and Yoojeong Oh, CFA, one of the fund's managers, as they explore the potential opportunity in Asia. For more on emerging markets, read our latest report: https://lnkd.in/eaPgvTrc #EM #emergingmarkets #asia abrdn Investment Trusts

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With some of my personal thoughts: Market analysts are guessing that the BoJ may have already conducted a large-scale yen-buying intervention during Monday's yen swing. Their suspicion stems from a 5.5 trillion yen discrepancy between the BoJ's forecast for commercial bank deposits and last week's estimate by money market brokers. If that's the case, the BoJ is likely buying time until the Fed pivots to rate cuts, narrowing the interest rate differential. However, the central bank might need several more interventions to prevent the currency from plumbing new three-decade lows. The fact is, such a massive intervention can only move the rate around 500 pips, and the USDJPY uptrend shows little resistance. It's an extremely costly endeavor. Coupled with the market's waning fear of intervention and the potential resurgence of carry trades after the previous profit-taking, defending the yen could be an uphill battle for the BoJ.

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Appreciation goes out to the AmCham Taiwan Topics team and Senior Advisor Don Shapiro for highlighting this encouraging trend. The variety of industries and opportunities for investment and trade that each state offers makes every office that is opened here in Taiwan a valuable resource for businesses and investors on both sides of the Pacific. For the financial industry, the opening of the Empire State Development office in Taiwan will be particularly important, for both Taiwan and the Empire State. It comes as Taiwan has embarked upon a series of projects and regulatory changes aimed to transform and empower the local financial industry. With New York State being home to Wall Street, the new office has the potential to play a key role in boosting bilaterial financial industry ties, deepening the discussion on collaboration regarding regulatory and policy issues, and helping Taiwan and America's financial industries further support many firms from key industries that are expanding investment in the U.S. and globally. https://lnkd.in/gD-8GHcd

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It is always a challenge for G5 Central Banks to manage market expectations when policy decisions are unsynchronised with the US Fed. The integration of their capital markets makes for something akin to a weighted basket of monetary conditions, with the USD claiming the lion share. What can make it easier, however, is when the US is not reeling from a shock, or when the Fed isn't giving strong forward guidance beyond market expectations. Fortunately for the BoJ, this is one of those times . . . although it briefly looked different in early August. The statement on monetary policy from the BoJ (https://lnkd.in/dMjjxETZ) made it clear that policy guidance is unchanged, meaning the MPB moves forward with normalisation at the next meeting. Growth was cited as still proceeding above potential, and price indicators validate the price target. The risk factors that present the most concern are external, essentially growth in US & Europe. It is for that reason a US soft-landing provides the ideal landscape for BoJ normalisation. China is slowing, which will be a drag on Japanese growth. A sudden slowdown in the US or Europe would require a policy pause. Barring some pre-US presidential election nightmare scenario, or fresh geopolitical shock, BoJ looks set to raise rates to 0.50% at the end of October. Will that produce some additional Yen strength? Possibly. But most of the speculative pressure has been released from the Yen crosses. If the Yen strengthens due to renewed capital inflows, strong inbound tourism, and a smooth LDP presidential succession, then this is a positive side story to monetary policy normalisation, not an interruption. #boj #monetarypolicy #yen #fed #centralbanks

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CITIC CLSA Trust recently donated HKD 659,000 and HKD 110,000 to two recipients, Po Leung Kuk and Bring Me a Book Hong Kong, respectively.   Building on the success of last year’s Youth Mental Health Programme, the Advanced Programme with Po Leung Kuk aims to create a sustainable impact on the mental wellbeing of young people through a diverse range of activities including the Human Library projects and “Mental Health Youth Ambassadors” programmes. The Trust’s donation to Bring Me a Book Hong Kong will fund the launch of the Inclusive Reading Programme, designed specifically to cater for the needs of families and children with special educational needs (SEN). As the overseas platform for CITIC Securities’ global philanthropy efforts, CITIC CLSA Trust is committed to enhancing the educational standards and overall well-being of children and young people in local communities throughout Hong Kong.   For more details, please click here: https://lnkd.in/g8wSKQgR   #CITICCLSA #CLSAImpact #CLSALife #PLK #BMABHK

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Japan’s continuing stock market rally is further aiding #japanesecompanies in unwinding #crossshareholdings amidst increasing pressure, not only from both domestic and international #investors, but also from the Tokyo Stock Exchange and Japan's Financial Services Agency, Japan (JFSA, 金融庁) , both of whom are pushing for more robust #corporategovernance and related #disclosures. The FSA, in particular, has been scrutinising companies who “are suspected of avoiding sharing information on cross-shareholdings by labelling them ‘pure investments,’ even though they do not intend to sell those shares because such investments do not require disclosure.” An FSA spokesman said that “efforts to reduce cross-shareholdings are important for improving corporate value. The FSA will continue encouraging companies with cross-shareholdings to disclose information in an appropriate manner." Other entities are also applying pressure with the Asian Corporate Governance Network (ACGN) , an independent, Hong-Kong based investor group, writing “in an open letter in April that companies should have zero cross-shareholdings”, saying the practice has a "detrimental impact on companies' capital efficiency." Whether it’s the stock market rally, regulatory pressures or both, companies appear to be  responding with Toyota Motor Corporation recently announcing it would buy back more than $5 billion of its shares owned by banks such as MUFG and Sumitomo Mitsui Banking Corporation – SMBC Group . Honda, too, made a similar announcement. The big question is whether this will improve #ROE significantly: according to S&P Global, average ROE for Japanese mega banks, as an example, was 6.5% in the latest fiscal year compared to JP Morgan’s 16%. A Jefferies analyst calculated that if companies in the Topix sold all their cross-shareholdings, average ROE could rise to around 12% from 9%. #japan

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China and Vietnam are important trading partners, and their diplomatic ties go back 70 years. Of course, shared borders often cause friction, but shared values and interests can help smooth things out. China is also emerging as an important source of direct and indirect investment in Vietnam, as this article in the Vietnam Investment Review details. #vietnam #gainsfromtrade #emergingmarkets

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HKSAR Proposes to Waive the Stamp Duty Payable on the Transfer of Shares or Units of REIT and the Jobbing Business of Options Market Makers On November 8, the Government of the Hong Kong Special Administrative Region (HKSAR) published the Stamp Duty Legislation (Miscellaneous Amendments) Bill 2024 to waive the stamp duty payable on the transfer of shares or units of real estate investment trust (REIT) and the jobbing business of options market makers, and to provide for a revised stamp duty collection arrangement upon the implementation of the uncertificated securities market (USM) regime in HKSAR. "The stamp duty waiver payable on the transfer of REIT shares or units and the jobbing business of options market makers, as announced in the 2024-25 Budget, would enhance the competitiveness of Hong Kong REITs and reduce the transaction costs of options market makers. The revised stamp duty collection arrangement would facilitate a more efficient stamping and collection process under the USM environment. These measures would help promote the development of the financial market," the Government spokesperson said. The Bill will be introduced into the Legislative Council for first reading on November 20.

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