Lead Stories

 

Welcome to Xi’s Net: Where Politics, Porn and Pooh Are Forbidden
Bloomberg News
For anyone still wondering about China’s ability, or willingness, to control its people’s access to the internet, the past few weeks have provided some clarity.
https://goo.gl/QzkVA3

Former rising star in Beijing faces corruption probe; Sun Zhengcai was tipped as a possible successor to President Xi Jinping
Tom Hancock in Shanghai – FT
A top Chinese politician tipped as a potential successor to President Xi Jinping is being investigated for graft, Beijing announced on Monday — eliminating him from the contest just months ahead of a key Communist Party meeting where the country’s next line-up of leaders is expected to be revealed.
https://goo.gl/sdst1U

HKEX Successfully Launches Second Phase of Closing Auction Session for its Securities Market
HKEX
Hong Kong Exchanges and Clearing Limited (HKEX) today (Monday) successfully introduced Phase 2 of the Closing Auction Session (CAS) in its securities market.
https://goo.gl/bcWk9Y

Singapore headline inflation falls more than expected to 0.5% in June
CHAI HUNG – Business Times
SINGAPORE’S headline inflation fell more than expected to 0.5 per cent in June, from 1.4 per cent in the preceding month and a market consensus of 0.7 per cent.
https://goo.gl/FhvxG1

 

Exchanges

 

Hong Kong exchange blocks Morgan Stanley, Li Ka-shing-backed IPO; Action comes as regulators tighten up on small listings with incomplete information
Ben Bland and Jennifer Hughes in Hong Kong – FT
The Hong Kong stock exchange has blocked an initial public offering by a financial services group backed by Morgan Stanley and Li Ka-shing because the Chinese state-owned brokers sponsoring the IPO filed a “substantially incomplete” prospectus.
https://goo.gl/GGgE1Q

Arrival of Last Trading Day for Options contracts on 10-year JGB futures
JPX
https://goo.gl/y9UnTC

Daily Publication, etc., Concerning Margin Trading
JPX
Issues are subject to daily publication of outstanding margin transactions to alert investors on the use of margin trading. They do not implement regulatory measures on margin trading.
https://goo.gl/R9fk76

JPX Site Updates
JPX
Daily Publication, etc., Concerning Margin Trading
Regulatory Measures, etc., Concerning Margin Trading
Tokyo Stock Exchange Dividend Focus 100 index
Off-auction Distribution Information
Enhancing Corporate Governance
Off-auction Own Share Repurchase Information
https://goo.gl/5HCHn2

Adjustment of Power Assets Structured Products, Futures and Options
HKEX
Hong Kong Exchanges and Clearing Limited has announced the arrangements for the adjustment to Power Assets Holdings Ltd (Power Assets) structured products, futures and options to account for Power Assets’ special interim dividend.
https://goo.gl/8B7pMx

SGX’s DLCs generate $5.9m in first 4 days of listing
Singapore Business Review
Check which of these certificates were the most traded.
https://goo.gl/n9WQJS

 

FinTech

 

Singapore Startup Counts on Visa to Take Bitcoin Into Real World
By Krystal Chia and Sterling Wong – Bloomberg
TenX’s Visa prepaid card converts digital currencies to cash; The company has raised $80 million through a token sale
A recurring challenge for bitcoin and other cryptocurrencies is how to make them work in the real world. A Singapore-based startup says the answer is its Visa card.
https://goo.gl/6vpjQo

 

Politics

 

Japan PM Abe faces parliament grilling after support drops further
Reuters via CNBC
Japanese Prime Minister Shinzo Abe faces a grilling in parliament on Monday over a suspected scandal that has cut his ratings to their lowest since taking office in 2012 and after a candidate from his ruling party lost a mayoral election.
https://goo.gl/TwS2mC

 

Regulation

 

India’s New Tax Is a Work in Progress; The introduction of the GST went smoothly, but the job isn’t finished.
By The Editors – Bloomberg
A country rarely praised for its efficient bureaucracy, India has managed its biggest administrative reform in years pretty well. Its new goods-and-services tax, replacing 40 other taxes and levies, came into force earlier this month without undue disruption. This policy deserves to be a great success — but to make the most of it, the government still has work to do.
https://goo.gl/igb6w8

ASIC permanently bans former finance analyst
ASIC
ASIC has permanently banned Ms Thuy Thi VU, a former finance analyst in Darwin, NT from the credit and financial services industries.
https://goo.gl/W3MS5T

 

Investing

 

Traders Fear Hard Landing in Emerging Markets
By Natasha Doff – Bloomberg
Carry-trade exit in EM is ‘quite small’: Schroder’s Olu-Pitan; Benchmark BlackRock bond ETF has doubled in size this year
The rapid growth of a BlackRock Inc. exchange-traded fund that tracks emerging-market debt is causing jitters among investors.
https://goo.gl/oPrnku

Banks That Funded HNA’s $40 Billion Spending Spree Halt New Loans
Bloomberg News
Dealmaking conglomerate has reported $73 billion of debt
HNA bonds are slumping as scrutiny of finances intensifies
Several Chinese banks that helped fund HNA Group Co.’s global acquisition spree are losing their appetite for financing the company, according to people familiar with the matter.
https://goo.gl/ehCYWu

Japan’s FamilyMart considering CITIC and CP Group partnerships
Sam Nussey and Ritsuko Shimizu – Reuters
Japan’s FamilyMart UNY Holdings (8028.T), Japan’s second largest convenience store chain, is considering partnering on new business with China’s CITIC Ltd (0267.HK) and Thailand’s Charoen Pokphand Group, its president told Reuters.
https://goo.gl/AqDqqe

Steelmakers Are Worth the Most in Years and It’s Thanks to China
By Thomas Biesheuvel – Bloomberg
Global gauge of steel producers rallied 45% in past year; Slide in Chinese exports boosted steel prices around the world
Steel stocks are trading at the highest since 2011 and it’s mostly thanks to the industry’s biggest menace in recent years: China.
https://goo.gl/9dKJKh

China Fund Slashes ADR Exposure, Boosts Holdings of A-Shares
By Bei Hu – Bloomberg
Noah’s Gopher China equity fund cuts exposure to ADRs; Fund also adds tactical traders in preparation for volatility
Noah Holdings Ltd., which manages the best-performing emerging markets fund of hedge funds, has cut China-related American depository receipts by about one-third this year after shares surged, while adding to yuan-denominated shares listed on the mainland.
https://goo.gl/yyGfB9

Nomura India Fund Reaches $3.6 Billion as Japan Bets on Modi
By Santanu Chakraborty , Min Jeong Lee , and Nao Sano – Bloomberg
Japan investment in Indian equities rises to highest on record;South Asian economy seen as providing long-term growth
The land of Abenomics is betting on Modinomics.
https://goo.gl/bF6JfG

Philippine Property Stocks Rally Will Keep Going: $20 Billion Manager
By Ian C Sayson – Bloomberg
Real-estate shares’ premium to wider market at four-year high; Sector will benefit from expanding economy, BDO Unibank says
Philippine real-estate stocks will extend a market-beating rally, the country’s biggest money manager is betting, unfazed by the most expensive valuation in four years.
https://goo.gl/cFJNVB

Johor attracts RM2bil investments from Japanese firms
The Star
Johor continues to be a major foreign investment destination with four companies from Japan investing close to RM2bil in the Tanjung Langsat Industrial Park, near Pasir Gudang.
https://goo.gl/VGqnRS

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