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☆ As global stocks fall, Asia-Pacific's benchmark index erases all of its gains for 2023
▼ + stars: | 2023-03-14 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

On Tuesday, bank stocks in Japan declined sharply, weighing on the wider Topix, which led the sell-off in Asia-Pacific. Tokyo-listed shares of Mitsubishi UFJ Financial Group fell 8.59%, Sumitomo Mitsui Financial Group shed 7.57% and Mizuho Financial Group dropped 7.14%. Yeap also noted indexes such as the Straits Times Index in Singapore has close to 45% of its weightage in bank stocks. Stock Chart Icon Stock chart iconNomura equity strategists including Chetan Seth reiterated their February call and still expect more gains for the index. "We are inclined to believe that these issues will not be systemic to the health of the banking sector," he said.

☆ SVB's collapse completely screwed things up for companies with bad credit
▼ + stars: | 2023-03-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The SVB collapse is going to make it a lot more expensive for companies with bad credit to raise capital. But it's not just junk-rated companies that will face higher fund-raising costs. Credit spreads for investment grade companies have also risen in recent days as investors reprice risk across the spectrum of corporate credit quality. That's leading to more zombie companies, or companies that rely on low financing costs to fund their business, that could ultimately default. To blunt the rise in financing costs, companies need to take action, according Embarc Advisors' Jay Jung.

☆ Chinese companies and tycoons rush to calm investors after SVB collapse causes anxiety
▼ + stars: | 2023-03-13 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —The collapse of Silicon Valley Bank (SVB), which courted Chinese start-ups, has caused widespread concern in China, where a string of founders and companies rushed to appease investors by saying their exposure was insignificant or nonexistent. “As China’s first technology bank, SPD Silicon Valley Bank is committed to serving Chinese science and technology companies, and has always had sound operations in accordance with Chinese laws and regulations.”It’s unclear what will happen to SVB’s ownership of the joint venture. BeiGene, one of China’s largest cancer-focused drug companies, said Monday it had more than $175 million uninsured cash deposits at SVB, which represents approximately 3.9% of its cash, cash equivalents and short-term investments. Zai Lab, a pharmaceutical firm, announced that its cash deposits at SVB were “immaterial” at about $23 million. “We never opened an account with Silicon Valley Bank, nor placed a deposit,” he said late Sunday on his Weibo account.

☆ SVB collapse will have limited impact on Asia, but one analyst says it could be a warning sign
▼ + stars: | 2023-03-13 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

HANGZHOU, CHINA - MARCH 12, 2023 - Photo taken on March 12, 2023 shows the logo of SPD Silicon Valley Bank in Hangzhou, Zhejiang province, China. Future Publishing | Future Publishing | Getty ImagesAnalysts say the collapse of Silicon Valley Bank is not likely to have a major contagion effect in Asia, but one person says it could be seen as a "warning" — especially for economies that haven't hiked interest rates aggressively. It came after U.S. regulators announced measures to further stem systemic risks from Silicon Valley Bank's collapse. While a number of companies within Asia's venture capital and tech start-up sector do have exposure to Silicon Valley Bank, not many have openly admitted to seeing major losses from SVB's bankruptcy. SPD Silicon Valley Bank, a joint venture between Shanghai Pudong Bank and Silicon Valley Bank sought to reassure investors over the weekend and said its operations have been "independent and stable."

☆ SVB collapse could add to China stock investors' anxiety
▼ + stars: | 2023-03-12 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

SHANGHAI, March 12 (Reuters) - China stock investors, already disillusioned by Beijing's lower-than-expected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said. The market mood could be damped further following Friday's sudden collapse of start-up focused lender SVB (SIVB.O), which stirred heated discussion over the weekend in China about its fallout. But many Chinese tech start-ups, especially those with dollar funding, have opened U.S. accounts at SVB. He is cautious about tech stocks that could be impacted by US-China frictions. Still, domestic A-shares will likely outperform offshore China stocks, which are more vulnerable to potential spillover from the SVB collapse, analysts say.

☆ Mexican stocks are on fire this year. Here's what's driving the gains
▼ + stars: | 2023-03-12 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Closer supply chains to the U.S. are giving Mexican stocks a big boost to start the year. The iShares MSCI Mexico ETF (EWW) , which is made up of Mexican stocks, is performing even better — up 15.2%. EWW YTD mountain EWW in 2023 One key factor driving this early outperformance is "nearshoring," which refers to companies bringing supply chains closer to their home country. In this case, many U.S.-based companies are moving their supply chains to neighboring Mexico, which could lead to even more gains in Mexican stocks. Lippmann said the firm likes stocks directly helped by nearshoring trends, such as the real-estate firm Vesta and airport operator OMA .

☆ Instant View: Silvergate's planned liquidation fuels another crypto rout
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +3 min

MARKET REACTION:Shares of crypto-related companies fell on Thursday, as the bank's collapse sparked a crisis of confidence in the industry. Silvergate shares were down 26% while peer Signature Bank (SBNY.O) and former Silvergate partner Coinbase Global Inc (COIN.O) fell 8% each. I think this could have significant implications for crypto regulations in the U.S. and banks' ability to deal with digital asset platforms and cryptocurrency brokerages." "One of the largest of these banks was Silvergate, which positioned itself as a crypto-friendly institution. Indeed, this pressure is making it increasingly challenging for crypto businesses and traders to operate within the United States."

☆ Why Silvergate’s post-FTX financial woes could spell trouble ahead for crypto
▼ + stars: | 2023-03-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +8 min

Further, the spillover into a traditional bank and its stock price could fuel regulators' arguments that crypto poses a systemic risk. The big problem in crypto is that to buy bitcoin, you eventually have to interact with the traditional banking system. Silvergate's crypto bet worked for the bank, particularly in bull markets. A big part of Silvergate's crypto banking efforts was the Silvergate Exchange Network, better known as SEN, a platform that institutions used to move money to crypto exchanges. Custodia is a Wyoming-chartered special purpose depository institution designed to bridge the crypto and traditional banking systems.

☆ Site of Tesla Mexico factory near double size of Texas plant, local official says
▼ + stars: | 2023-03-03 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Jesus Nava, the mayor of Santa Catarina in the state of Nuevo Leon, said in an interview that Tesla is purchasing the site from private owners. He said the land spans nearly 4,200 acres in an industrial zone, more than double the size of Mexico City's international airport. Tesla's factory in Austin, Texas - one of three existing Tesla vehicle plants - sits on 2,500 acres, according to Tesla's website. Nava said Tesla will reveal what vehicles it will produce at the Nuevo Leon factory when it breaks ground, which it plans to do in three months. Tesla uses recycled water, and such companies typically use minimal liters of water per second, he added.

☆ 66% of working parents suffer from burnout—here's how to manage that 'spillover,' says Stanford sociologist
▼ + stars: | 2023-03-03 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

For busy working parents, it's next to impossible to avoid bringing the stresses of work home at the end of the day. "That's a daily battle that every working parent experiences," Cooper tells CNBC Make It. Roughly 66% of working parents in the U.S. suffer from parental burnout, according to a 2022 Ohio State University study, and stress that carries over between home and work is a major contributor. There's this dynamic movement back and forth," Cooper says, adding that family issues can leave you distracted at work, too. Either way, the stress and anxiety behind work-family spillover can negatively affect both your career and your family.

☆ Flu experts gather with H5N1 risk on the agenda
▼ + stars: | 2023-02-24 | by ( Jennifer Rigby | ) www.reuters.com time to read: +3 min

But it is also a chance to discuss the risk of animal viruses spilling over to humans and causing a pandemic. At this week's meeting, H5N1 clade 2.3.4.4b was a key topic, the World Health Organization (WHO) and global flu experts told Reuters. They will brief reporters on both the seasonal flu vaccine composition and spillover risks later on Friday. "We need to really continue the efforts for a flu pandemic." A number of companies that produce seasonal flu vaccines can also make pandemic flu vaccines.

☆ Russia is 'uninvestable' from a legal and fundamental perspective, says investment firm
▼ + stars: | 2023-02-24 | 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 EmailRussia is 'uninvestable' from a legal and fundamental perspective, says investment firmRobert Koenigsberger of Gramercy Funds Management discusses investing in Russia, Ukraine, and the spillover effects of the war.

☆ Morning Bid: A new R*
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Joshua RobertsA look at the day ahead in European and global markets from Wayne Cole. While it held rates at 3.5% as expected, the commentary warned that restrictive policy would be needed for a "considerable time". Indeed, it's looking like global supply chains will never be the same, what with the pandemic, the Russian-Ukraine war and Sino-U.S. tensions. Most developed nations also face a decline in working-age populations and sharply rising dependency ratios. All of which suggests higher inflation is here to stay and the neutral level of real interest rates has shifted upward.

☆ Analysis: Why public health officials are not panicked about bird flu
▼ + stars: | 2023-02-23 | by ( Julie Steenhuysen | ) www.reuters.com time to read: +5 min

They say the attributes that have made this virus thrive in wild birds likely make it less infectious to people. Although the exact changes required for a bird flu virus to become easily transmissible in people are not known, a pair of landmark studies done a decade ago offer some clues. Mink have both avian and human-type receptors, but avian receptors are scarce in humans and located deep in the lungs. That change is a must if a bird flu virus is to spread easily in people. None of the experts discounted the possibility that H5N1 or another avian flu virus could mutate and spark a pandemic, and many believe the world has not seen its last flu pandemic.

☆ Moldovan parliament approves new pro-Western government
▼ + stars: | 2023-02-16 | by ( Alexander Tanas | ) www.reuters.com time to read: +3 min

[1/6] Dorin Recean attends a session of a parliamentary commission in Chisinau, Moldova, February 16, 2023 before his confirmation as prime minister. REUTERS/Vladislav CuliomzaSummary President nominated Dorin Recean as prime ministerRecean says he will pursue EU membershipEconomy in turmoil, relations with Russia are tenseCHISINAU, Feb 16 (Reuters) - Moldova's parliament approved a pro-Western government led by new Prime Minister Dorin Recean on Thursday after he pledged to revive the economy and chart a course towards the European Union. Recean, a former interior minister and presidential aide, secured the approval of 62 lawmakers in the 101-seat parliament after outlining his policy plans in a programme entitled "Prosperous, Secure, European Moldova." Its economy is highly dependent on Russian gas flows and has been hit by the spillover effects of the war in Ukraine. Tensions have at times been exacerbated by missile debris landing on Moldovan territory after Russian attacks on Ukraine.

☆ BlackRock downgrades Japan stocks on possible monetary policy shift
▼ + stars: | 2023-02-15 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Kazuhiro Nogi | Afp | Getty ImagesBlackRock, the world's largest asset manager, cut Japanese stocks to "underweight" – as Japan is set to appoint a new governor to lead its central bank. "We downgrade Japanese stocks on policy uncertainty and a worsening economic environment," BlackRock's research arm said Monday, before the government submitted its central bank picks to parliament. U.S. Treasury yields spiked, with the 10-year note and the 30-year note jumping 7 and 8 basis points respectively. One possibility is the Bank of Japan further widening its tolerance range beyond 50 basis points. Nikkei separately reported earlier this month that the central bank purchased 23.7 trillion yen ($182 billion) of JGBs in January, a new record high.

☆ Indian shares fall ahead of inflation data; Adani stocks slide
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 13 (Reuters) - Indian shares were off to a muted start on Monday, ahead of domestic retail inflation data due later in the day and U.S. inflation data due tomorrow, while the ongoing uncertainty and spillover effects from the Adani Group's market rout continued to create an overhang. Investors await India's retail inflation data for January, due today. A Reuters poll of economists showed that India's annual retail inflation rose from a 12-month low in December, but stayed within the 6% upper limit of RBI's tolerance band in January. India's market regulator is probing the group's links to some of the investors in its scrapped $2.5 billion share sale of the flagship Adani Enterprises. ($1 = 82.5250 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ IMF says El Salvador's bitcoin risks have not materialized but 'should be addressed'
▼ + stars: | 2023-02-11 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +2 min

Feb 10 (Reuters) - Risks over El Salvador's embrace of bitcoin "have not materialized," but use of the cryptocurrency still requires transparency and attention, the International Monetary Fund (IMF) said Friday in a statement after a visit to the Central American country. "Given the legal risks, fiscal fragility and largely speculative nature of crypto markets, the authorities should reconsider their plans to expand government exposures to bitcoin," the IMF said in a statement. El Salvador's move to make bitcoin legal tender in September 2021 effectively closed the doors to IMF financing. El Salvador's Congress last month passed a law regulating the issuance of digital assets by both the state and private entities. The IMF highlighted the "full recovery" of El Salvador's economy to pre-pandemic levels, "driven by the effective government response to the health crisis."

☆ Fed's Waller says cryptocurrency buyers could lose their entire investments
▼ + stars: | 2023-02-10 | by ( Ann Saphir | ) www.reuters.com time to read: +1 min

Feb 10 (Reuters) - Federal Reserve Governor Christopher Waller on Friday had a pair of warnings for those involved in cryptocurrency assets, telling buyers they could lose their investments, and banks that they must guard against bad actors and risks to the financial system. U.S. regulators including the U.S. central bank have told banks they need to be more careful about fraud risk. "If people want to hold such an asset, then go for it," Waller said. "However, if you buy crypto assets and the price goes to zero at some point, please don't be surprised and don't expect taxpayers to socialize your losses." Reporting by Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Adani rout deepens despite soothing words from India's government and billionaires
▼ + stars: | 2023-02-06 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

Indranil Mukherjee | Afp | Getty ImagesShares of most Adani Group companies fell further on Monday, continuing to drop as a feud between the conglomerate and short-seller firm Hindenburg deepened. Adani Green Energy , Adani Power and Adani Total Gas fell 5% each. The Sensex is the benchmark index of the BSE — formerly the Bombay Stock Exchange — and the Nifty 50 is the flagship index of the National Stock Exchange of India. Gautam Adani, chairman of Adani Group, speaks during the Forbes CEO Summit in Singapore, on Tuesday, Sept. 27, 2022. Adani Power is included on the long-term list, while Adani Enterprises, Adani Green Energy, Adani Ports and Special Economic Zone, Adani Transmission and Adani Total Gas are on the short-term list.

Summary Pope received vibrant welcome in KinshasaAddressed DR Congo's struggles with war, exploitationNow heads to predominantly Christian South SudanArchbishop of Canterbury joins for South Sudan legKINSHASA, Feb 3 (Reuters) - Pope Francis wraps up an emotional visit to Democratic Republic of Congo on Friday and heads to neighbouring South Sudan, another nation struggling to overcome decades of conflict and grinding poverty. On Wednesday, he heard harrowing stories from victims of conflict in eastern Congo who had witnessed the killings of close relatives and been subjected to sexual slavery, amputation and forced cannibalism. The pope will be joined for the whole of his visit to South Sudan by Archbishop of Canterbury Justin Welby, leader of the global Anglican Communion, and by the Moderator of the General Assembly of the Church of Scotland, Iain Greenshields. It is the first joint foreign trip by the three Christian leaders, who have called it a "pilgrimage of peace". South Sudan broke away from Sudan to become independent in 2011 after decades of north-south conflict, but civil war erupted in 2013.

☆ Adani vs. Hindenburg: How Asia’s richest man lost his crown in just a few days
▼ + stars: | 2023-02-01 | by ( Jihye Lee | ) www.cnbc.com time to read: +5 min

Gautam Adani, billionaire and chairman of Adani Group, during an event at the Port of Haifa in Haifa, Israel, on Tuesday, Jan. 31, 2023. According to Forbes, Gautam Adani, the founder and chairman of the group, has lost his status as Asia's richest man to Mukesh Ambani, the chairman of Reliance Industries. Hindenburg, which said it has taken a short position in Adani Group, stands to benefit from the declining value of those stocks. Adani's battle with the short-seller firm has put the group's exposure to Wall Street — amounting to nearly $9 billion, according to JPMorgan — under the spotlight. In just one week, Indian billionaire Gautam Adani saw more than $34 billion wiped off his net worth, according to the Bloomberg Billionaires Index.

☆ Crypto is now toxic on Wall Street and an overwhelming majority of traders refuse to touch it this year, according to a JPMorgan survey
▼ + stars: | 2023-02-01 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

A JPMorgan survey of institutional traders found that 72% don't plan on trading cryptocurrencies or digital assets this year. Meanwhile, only 8% said they were actively trading cryptos. But despite the recent strength, 72% of traders say they don't have any plans to trade crypto or digital assets in 2023, according to a survey from JPMorgan. That dim view aligns with some other heavyweights on Wall Street. The JPMorgan survey was conducted in January, after a dismal 2022 for the crypto sector that saw bitcoin plunge nearly 70%.

China's population is shrinking. This shocking statistic is only the start of China's population decline. This year India is set to surpass China's population, and in a few years it will surpass China's working-age population — people 20 to 69. Because of its manufacturing prowess and importance to supply chains, China's shrinking working-age population has enormous, direct effects on the global economy. Among today's largest economies, only the US has a projection of positive population growth, though at very low levels.

☆ U.S. arms left in Afghanistan are turning up in a different conflict
▼ + stars: | 2023-01-30 | by ( Junaid Kathju | ) www.nbcnews.com time to read: +3 min

At least six people were injured on Jan. 21 in two explosions in the city of Jammu. Though more than half of it was ground vehicles, it also included more than 316,000 weapons worth almost $512 million, plus ammunition and other accessories. The Defense Department report also pointed out that the operational condition of the Afghan army’s equipment was unknown. Manoj Sinha said the government was aware of the issue and that measures were in place to combat the infiltration of U.S. weapons into Kashmir. Kashmir police official Vijay Kumar also said authorities were fully capable of countering the militant threat.

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