Monthly Archives: September 2021

Evergrande Jumps Even as Its Fate Remains Uncertain

Evergrande stock (HK:3333) closed 7.6% higher in Hong Kong trading Monday as the Chinese central bank repeated its determination to keep market conditions orderly, although the fate of the debt-laden Chinese real estate developer remained uncertain.

The company missed a payment deadline on a dollar bond during the previous week, triggering the start of a 30-day grace period. Interest on its 9.5% March 2024 dollar bond is due Wednesday, however. 

Shares of the beleaguered company are down 83% this year.

Cryptocurrency Exchanges Curb Trading From China After Beijing’s Warning.

HONG KONG—One of the world’s largest cryptocurrency exchanges said it would close all user accounts in mainland China by the end of the year, days after the country’s central bank declared all crypto-related transactions illegal.

Huobi Global, which was founded in 2013 and currently operates from offices in Singapore, South Korea, the U.S. and other countries, over the weekend said it stopped allowing new customers in mainland China to register accounts. The exchange will also gradually retire existing accounts in China by the end of 2021 to ensure the safety of its customers’ assets, it added.

Stocks hold their gains on Wall Street after Fed statement

Stocks on Wall Street closed broadly higher Wednesday after the Federal Reserve signaled it may begin easing its extraordinary support measures for the economy later this year.

The central bank said it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago. It also said it will likely begin slowing the pace of its monthly bond purchases “soon” if the economy keeps improving. The Fed’s been buying the bonds throughout the pandemic to help keep long-term interest rates low.

Climate change: what are we waiting for?

The authorities are taking climate change seriously. So should investors, argues HSBC’s Willem Sels

The risks of climate change are potentially immense. The benefits of taking action are also clear: we can see that economic development, reduced emissions, and creative adaptation go hand in hand. A committed and strong low-carbon transition could trigger a new wave of economic and technological transformation and investment, a new era of global and sustainable prosperity.

Asset management’s pivotal role in transition to low carbon economy

The support of the asset management industry is essential if net zero emission goals are to be reached, but success requires involvement from all levels of society!