• Filter by

China sovereign fund to cut exposure to public markets

BEIJING: China’s US$814bil sovereign wealth fund plans to expand investments in areas such as real estate, hedge funds, infrastructure and private equity for more stable returns, as it reduces exposure to volatile public markets.

Still keen: Even as trade friction between China and the US is rising, Tu says CIC still wants to explore direct investments in the US, which could also help deepen economic ties. — Bloomberg

Traders beware: Political black swan looms over yen

TOKYO: The scandal embroiling Prime Minister Shinzo Abe’s administration may be more serious than some investors realise, raising the potential for a rapid move in Japanese markets to discount the potential for a surprise end to the champions of Abenomics.

“For global investors, Abenomics equals a higher dollar-yen, a higher Nikkei and a better Japanese economy,” said Tohru Sasaki, head of Japan markets research at JPMorgan Chase & Co in Tokyo.

Cathay Pacific flags recovery in airfares, shares surge

SINGAPORE: Cathay Pacific Airways expects airfares will recover further this year after four years of declines, a senior executive said, offering a positive outlook for the Hong Kong airline that sent its shares 7.6% higher.

Big changes: Hogg speaking during a Bloomberg Television interview in Hong Kong yesterday. He says the measures have been put in place to make substantial changes in the business. — Bloomberg

UBS merges equity, debt capital market businesses in Asia

HONG KONG: UBS Group is merging its equity and debt capital market businesses in Asia Pacific in a move that comes as its powerhouse equities franchise faces a suspension in Hong Kong from leading initial public offerings (IPOs).

“It is clear there are synergies that exist across ECM and DCM, such as overlapping investors and product cross over,” David Chin, UBS head of Asia Pacific corporate client solutions business, which covers investment banking, told staff.

Pimco sells Aussie banks and property bonds

SYDNEY: Pacific Investment Management Co (Pimco) is cutting its investments in Australian bank debt because of lofty valuations as well as trimming holdings of real estate and retailers’ bonds.Y

Samsung Electronics to build new China memory chip line

SEOUL: Samsung Electronics Co Ltd plans to build a new memory chip production line in China later this month, a spokesman said yesterday as the tech giant ramps up efforts to boost NAND flash technology to meet future demand.

Samsung said in August last year that it expected to invest US$7bil over the next three years to expand its NAND memory chip production in China’s northwestern city of Xi’an, but had not specified a future schedule.

Robust capital market; fundraising seen at RM120bil

KUALA LUMPUR: Fundraising through Malaysia’s capital market is expected to remain robust this year, although the number is unlikely to outpace the exceptionally strong performance of 2017.

icon video

Petronas mulls listing lubricants business

TURIN: Petroliam Nasional Bhd (Petronas) is contemplating to eventually float its lubricant business, Petronas Lubricants International (PLI) after building up this part of the business further.

Listing plan: Petronas flag blowing in the wind at a Petronas station in Kuala Lumpur. A listing will raise PLI’s profile and brand presence internationally, and give it access to funds for further expansion.

As UK condemns Russia, investors pile into Gazprom bond sale

MOSCOW: Just as Prime Minister Theresa May was spelling out the U.K.’s response Wednesday to the poisoning of a former spy on British soil, European investors were helping a state-owned Russian company do brisk business in the bond market.

Broadcom's Tan goes to Washington: The undoing of a US$117bil deal

NEW YORK: Tan Hock Eng had a trick for winning over skeptical investors. When people asked why he was so confident that Washington would approve his $117 billion takeover of Qualcomm Inc., Tan would take out his cell phone and show them a photo of himself with U.S. President Donald Trump.