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Search resuls for: "Asia Credit"


8 mentions found


☆ Chinese yuan hits strongest level against the dollar in over 16 months as investors assess PBOC stimulus
  + stars: | 2024-09-25 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com   time to read: +3 min
The Chinese yuan has weakened sharply against the U.S. dollar in the last several weeks as the greenback strengthens and investors worry about China's economic growth. China's yuan hit its strongest level in over 16 months on Wednesday after Beijing unveiled a slate of stimulus measures to shore up the slowing economy on Tuesday. The Chinese offshore yuan strengthened briefly to 6.9946 per dollar, the strongest since May 2023. China's onshore yuan is currently trading at 7.0319 against the greenback, also holding at the strongest levels since last May. China bonds rallied after the PBOC announcement with 10-year and 30-year yields hitting record lows.
Persons: Ben Emons, Edmund Goh, Zerlina Zeng, CreditSights, Pan Gongsheng, Emons, Hong, — CNBC's Evelyn Cheng Organizations: U.S, Beijing, greenback, Fed Watch, BNP, U.S ., Asia Credit, People's Bank of China Gov, CSI Locations: China, abrdn, Hong Kong, London, Singapore, New York
☆ China real estate sector: Policymakers are focused on 'risk containment,' Goldman says
  + stars: | 2024-09-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina real estate sector: Policymakers are focused on 'risk containment,' Goldman saysKenneth Ho, head of Asia credit strategy research at Goldman Sachs, says "if there are government policies directed more towards cleaning up the excess inventory in the real estate sector, we think that's a positive development."
Persons: Goldman, Kenneth Ho, Goldman Sachs Organizations: China Locations: Asia
☆ JPMorgan says India has an 'improving credit story'
  + stars: | 2024-06-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJPMorgan says India has an 'improving credit story'Soo Chong Lim, head of Asia credit research at JPMorgan, says it's "generally quite constructive on India's macro story."
Persons: Chong Lim Organizations: JPMorgan Locations: India, Asia
☆ Exclusive: JPMorgan proposes new Asia credit index with lower China weighting
  + stars: | 2023-02-27 | by ( Xie Yu Selena Li | Xie Yu | Selena Li | ) www.reuters.com   time to read: +4 min
REUTERS/Florence Lo/Illustration/File PhotoHONG KONG, Feb 27 (Reuters) - JPMorgan (JPM.N) is proposing a new Asia credit index with slashed China weighting in parallel to its existing $85 billion Asia credit index, two sources said, amid growing geopolitical tensions and dimming appetite for Chinese property bonds. For the new index, JPMorgan has suggested the weighting of China be cut to close to 30% compared with a level of about 43% in its existing JPMorgan Asia credit index (.JPMACI) (JACI) in which China is the largest component, according to one person with direct knowledge of the matter. JACI is a premier Asia credit index, tracked by fund managers controlling more than $85 billion worth of assets, according to the January proposal. INDEX RESHUFFLEThe proposal to reduce China weighting came after some fund managers pushed JPMorgan to cut JACI's China debt exposure, two sources said, as its poor performance dragged down popularity of the passive products that track the index. Jane Cai, a fixed income portfolio manager at China Asset Management (Hong Kong), said at a media briefing this month that JPMorgan was also internally discussing an ex-China Asia credit index.
☆ Morning Bid: Long March ahead
  + stars: | 2023-02-27 | by ( ) www.reuters.com   time to read: +5 min
"If it goes down that road it will come at real costs to China," White House national security adviser Jake Sullivan told CNN. China said on Monday it sought dialogue and peace for Ukraine despite the U.S. warnings. European stocks and U.S. futures recaptured some ground on Monday but the DXY dollar index briefly hit its highest since Jan. 6. The new U.S. interest rate horizon remains jarring, however. Meanwhile, Warren Buffett's Berkshire Hathaway (BRKa.N) on Saturday reported its highest-ever annual operating profit, even as foreign currency losses and rising interest rates contributed to lower earnings in the fourth quarter.
☆ India's Adani still eligible to be part of influential JPMorgan bond indexes
  + stars: | 2023-02-07 | by ( ) www.reuters.com   time to read: +2 min
SINGAPORE, Feb 7 (Reuters) - India's Adani group of companies, which in recent weeks has seen a brutal selloff in its bonds and shares after being targetted by a U.S. short-seller, is still eligible for inclusion in JPMorgan's influential bond indexes, the bank said in a note. Adani, whose business interest includes ports, power generation and transmission, and renewable energy, has a total notional value of $7.7 billion in the JPMorgan's CEMBI and JACI indexes, the bank said on Monday. JPMorgan Corporate Emerging Market Bond Index series (CEMBI) tracks dollar debt issued by emerging market corporations, while its Asia Credit Index (JACI) tracks the total return performance of the Asia fixed-rate dollar bond market. After the release of Hindenburg's report, Adani's weight has decreased by 10 basis points to 36 basis points in the CEMBI Broad Div index and by 15 basis points to 48 basis points in the CEMBI Broad Div IG index, the JPMorgan note said. The Indian conglomerate's weight decreased by 16 basis points to 52 basis points in the JACI index, it added.
☆ Asia bond funds dump China in favour of cash after high-yield rout
  + stars: | 2022-10-31 | by ( Summer Zhen | ) www.reuters.com   time to read: +4 min
Many holders of China high yield bonds have seen them trading below 20 cents on the dollar. The in-default bonds of property company Sunac China (1918.HK) maturing in 2025 trade at 6 cents to a dollar. The average return of the top 10 Asia high yield bonds is down more than 30% this year, Morningstar data shows, of which Fidelity Funds' Asian High Yield Fund and UBS's SICAV - Asian High Yield (USD) had shed more than 40% as of Oct. 27. Value Partners’ Greater China High Yield Income Fund was down 37% as of the end of September. While there are select bonds that have upside, China high yield as an asset class is currently “uninvestable", she said.
☆ Mubadala, KKR to invest about $1 bln in Asia
  + stars: | 2022-10-24 | by ( ) www.reuters.com   time to read: +1 min
Oct 24 (Reuters) - KKR & Co (KKR.N) and Abu Dhabi state fund Mubadala Investment Co (MUDEV.UL) said they had entered into an agreement to invest about $1 billion in Asia. The agreement, announced on Sunday, will see the two firms investing across performing private credit opportunities in the Asia Pacific region. Mubadala, which manages $243 billion in assets, said in a joint statement it would deploy its capital alongside KKR’s existing pools of capital, including capital from the KKR Asia Credit Opportunities Fund, a $1.1 billion credit investment vehicle KKR closed in May. In APAC, KKR has deployed nearly $3 billion in credit capital since 2019. The credit business in the region is part of KKR’s about $178 billion global credit platform.
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