Unease about economic outlook grows as rising prices fuel stagflation concerns September 20, 2021 The last few weeks has seen equity markets struggle to make gains of any significant size, and all the while concerns have been rising about a number of different factors. The lack of a clear narrative, whether it be positive or negative, has seen markets churn in both directions since July, with any number of [...]
China doubles down on private sector onslaught September 19, 2021 China’s top regulators have defended their intensifying clampdown on several industries of the country’s economy at a meeting with Wall Street executives. The vice chair of the China Securities Regulatory Commission told leaders of some of the US’s largest companies that its crackdown of consumer-facing and tech businesses was intended to improve data privacy and [...]
China: what zero tolerance, supply chain disruption and floods mean for economic growth September 17, 2021 Ongoing disruptions mean that we have lowered our forecast for growth in China this year. Activity lost due to outbreaks of Covid and supply chain bottlenecks will be largely recouped, but the lagged effects of past policy tightening are only just starting to take effect. As a result we continue to expect growth to slow [...]
Largest-ever wealth drop: Chinese e-commerce mogul loses $27bn September 17, 2021 The founder of a Chinese e-commerce platform has reportedly seen his wealth nosedive $27bn this year – the largest wealth drop in the world on record. Colin Huang, who made his wealth through his platform Pinduouo (PDD), has suffered as a result of China’s hawkish regulations on internet and technology firms. The biggest plunge in [...]
China’s Evergrande should not bet on a government bailout, says state-backed editor-in-chief September 17, 2021 China’s Evergrande, which is battling $300bn in liabilities, should not bet on a government bailout on the basis that it is ‘too big to fail’, the editor-in-chief of a local newspaper has said. The comments from Hu Xijin, from state-backed Global Times, come as Evergrande’s shares nosedive for a fifth consecutive day amid fears of [...]
Chinese Uber rival Didi’s users drop by 30 per cent after US IPO saga – CityAM : CityAM September 16, 2021 Chinese ride-hailing giant Didi has lost 30 per cent of its app’s daily users since its $4.4bn IPO in New York at the end of June, in the latest blow to the company following Beijing’s harsh regulatory crackdown for an alleged data breach. Didi’s average daily users plunged to 10.9m in August from 15.6m in [...]
Five thought-provoking books we’ve read in 2021 September 15, 2021 Book clubs aren’t just a way to while away a pleasant hour with friends as you discuss Jane Austen or Julian Barnes over a glass of wine. Our emerging market equities team has established a book club to seek investment insights from beyond the everyday sources. We hope it will spark discussion, and nurture a [...]
Universal Music boss Lucian Grainge locks eyes on $150m IPO pay out September 15, 2021 Universal Music’s stock market debut next week it set to land its boss Lucian Grainge an around $150m pay out, while he also cashes in on his Tencent investment. The British record label mogul, who nearly died of Covid-19 last year, is to receive the $150m through a “transaction bonus”, if the listing secures a [...]
Are regulators starting to embrace digital assets? September 14, 2021 Writing for Crypto AM, Jonny Fry examines the regulation of cryptocurrencies and points to what a future under scrutiny could look like.
Oil prices push back as effects of Hurricane Ida hit supply September 10, 2021 Global oil prices pushed past the $73 mark this morning as crude supplies tightened on the back of Hurricane Ida. Worldwide standard Brent crude rose 2.2 per cent to $73.02, while US benchmark West Texas Intermediate rose 2.4 per cent to $69.80. Since Ida made landfall in the US at the end of August, causing [...]