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HONG KONG, Dec 12 (Reuters Breakingviews) - Hong Kong’s bankers and officials fantasise about the moment China finally ditches its Covid-19 restrictions. Mainland Chinese firms account for eight of Hong Kong Exchanges and Clearing’s (0388.HK) ten largest ever IPOs. It remains faster for Chinese companies to list in Hong Kong, rather than join the long queue on the mainland. Hong Kong could also host more offerings from places like the Middle East and Southeast Asia, as Cha envisions. IPOs on the Hong Kong exchange have raised $7.1 billion so far in 2022, according to Refinitiv data for the year up to Dec. 7.

☆ China shipyards feast on record LNG tanker orders as South Korea builders are full up
▼ + stars: | 2022-12-12 | by ( Chen Aizhu | ) www.reuters.com time to read: +7 min

Chinese shipyards this year won 45 LNG tanker orders worth an estimated $9.8 billion, about five times their 2021 order values, according to shipping data provider Clarksons Research. By late November, Chinese yards had grown their LNG order books to 66 from 21, giving them 21% of global orders worth around $60 billion. Still, Chinese yards received 19 foreign orders for LNG tankers this year and that number is likely to grow. "Chinese yards have become more attractive because of the South Korean backlog, as well as rising costs," said ICIS analyst Songer. Chinese yards' relationship with GTT also helps, he said.

☆ Australia's Telstra suffers privacy breach, 132,000 customers impacted
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Dec 11 (Reuters) - Australia's largest telecoms firm Telstra Corp Ltd (TLS.AX) said on Sunday that 132,000 customers were impacted by an internal error that led to disclosure of customer details. The errant disclosure comes after the company in October suffered what it called a small data breach, attributing it to third-party intrusion that exposed some employee data back to 2017. A Telstra internal staff email put the number of affected current and former employees of that breach at 30,000, according to local media. "Protecting our customers’ privacy is absolutely paramount and this is an unacceptable breach of their trust," he added. "We are in the process of contacting every impacted customer to let them know what has occurred."

☆ U.S. soccer journalist Grant Wahl dies while covering World Cup in Qatar
▼ + stars: | 2022-12-10 | by ( Dennis Romero | ) www.cnbc.com time to read: +2 min

In this 2014 photo, sportswriter Grant Wahl works as a sideline reporter during halftime. Grant Wahl, a longtime soccer sportswriter, died Friday in Qatar while covering the World Cup. NPR national supervising editor Russell Lewis tweeted that Wahl was covering the Argentina-Netherlands quarterfinal match when he died. Multiple news organizations reported Wahl collapsed in the press tribune and was tended to by paramedics. His wife, Dr. Céline Gounder, tweeted late Friday that the news came as a "complete shock."

☆ Air India to spend over $400 mln to refurbish cabin interiors
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Dec 8 (Reuters) - Air India would spend more than $400 million to refurbish the interiors of its entire wide-body fleet to attract more flyers after the carrier was taken over by Indian conglomerate Tata Group at the start of this year, it said on Thursday. The refurbishment will involve introduction of a premium economy cabin, it said in a statement, adding that the first aircraft with refurbished interiors will enter service in mid-2024. "Air India has committed to attain the highest standards of product and service befitting of a world class airline. We know that, at present, the cabin product on our 40 legacy widebody aircraft falls short of this standard," the company said. Once known for its lavishly decorated planes and stellar service, state-owned Air India was swept into a downward spiral due to mounting debt and ballooning losses.

☆ Morgan Stanley downgrades Silvergate Capital, says it's time to sell stock after FTX collapse
▼ + stars: | 2022-12-05 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to sell Silvergate Capital following the FTX collapse, according to Morgan Stanley. "The ongoing stress in the crypto ecosystem post the FTX collapse drives significant uncertainty on deposit flows at SI in the near term," Gosalia wrote in a Monday note. Shares of Silvergate Capital have cratered this year, tumbling nearly 65% this quarter alone, mirroring the bear market in cryptocurrencies. "The fallout of the FTX collapse could drive litigation and headline risk across the crypto space. Although the stock is down 80% YTD, we prefer other avenues for deployment within our expanded coverage until the risks become clearer," Gosalia wrote.

☆ Here are Monday's biggest analyst calls: Apple, Amazon, Tesla, Netflix, Coinbase, Costco, Etsy & more
▼ + stars: | 2022-12-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan reiterates Apple as overweight JPMorgan said Apple's iPhone supply chain challenges appear to be moderating. JPMorgan reiterates Netflix as overweight JPMorgan said it sees a "heavily backend-weighted quarter" for Netflix. Morgan Stanley initiates Marriott as overweight Morgan Stanley said it likes how the hotel chain has transformed its business and that it sees a "further re-rating." Jefferies reiterates Amazon and Etsy as buy Jefferies said Amazon and Etsy will be winners this holiday shopping season. Morgan Stanley downgrades Silvergate to underweight from equal weight Morgan Stanley said in its downgrade of the crypto bank that it sees too many headwinds due to the FTX collapse. "

☆ Is the worst over for bitcoin and the rest of crypto?
▼ + stars: | 2022-12-04 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

This is not the first crypto winter, as long-term fans of bitcoin can attest. “It is very clear that we as an industry need to build better products,” said Hany Rashwan, CEO of 21.co, a crypto investment firm. That’s about triple where prices were during the depths of the crypto bear market in the early pandemic days of 2020. Others point out that the underlying blockchain technology behind bitcoin and crypto remains solid. Pride and Reynolds added that it’s erroneous to think that bitcoin can hold up well during stock market volatility.

☆ Hong Kong's Hang Seng had its best month since 1998, but remains in bear market territory
▼ + stars: | 2022-12-02 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Strategists at Goldman Sachs said from February 2021 to October 2022, the Hang Seng index saw a "systemic correction," which the firm defines as a fall of 40% or more. Next key levelsAnalysts at Weiss Multi-Strategy Advisers said, "November may, in hindsight, be viewed as a key turning point for Chinese equities," noting the Hang Seng China Enterprise index and the property sector saw significant gains. After its November gains, the Hang Seng index hovered around 18,600 – a level of resistance according to market watchers. "With the 18,600 level of resistance being overcome for the Hang Seng Index, that could seem to place the key psychological 20,000 level on watch," IG market strategist Yeap Jun Rong said in a Thursday note. The HSI last fell below the 20,000 level in August, and analysts expect to see a continued rebound in the equity market on further signs that the nation will shift away from zero-Covid.

☆ Hackers dump more customer data from Australian insurer Medibank
▼ + stars: | 2022-12-01 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

"The raw data we have analysed today so far is incomplete and hard to understand," chief executive David Koczkar said. On Thursday, media reported that a blog, believed by cyber experts to be used by the hackers, carried a new post: "Happy Cyber Security Day!!! Medibank did not immediately respond to a Reuters question asking whether it believed all stolen data had now been released. Australian Federal Police last month said Russia-based hackers were behind the Medibank cyberattack, which compromised the details of almost 10 million current and former customers. In its latest update, Medibank said there were currently no signs that banking data had been stolen.

☆ Singapore Airlines extends its India runway
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +2 min

On Tuesday Singapore Airlines (SIAL.SI) and Indian conglomerate Tata agreed to merge their nine-year-old jointly owned carrier Vistara with Air India, whose enterprise was valued at $2.4 billion when Tata bought it just over a year ago. Air India, meanwhile, will get a deep-pocketed partner willing to inject as much as $615 million more in capital over the next couple of years, if needed. Singapore Airlines’ ability to finance the deal with cash speaks volumes about its strong financial position. In any event, its ability to upgrade its seat in India will serve Singapore Airlines well. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Capital A to combine AirAsia and AirAsia X as part of restructuring plan
▼ + stars: | 2022-11-29 | by ( Jamie Freed | ) www.reuters.com time to read: +3 min

Capital A, headed by Fernandes, will retain the digital, logistics and aviation services businesses, while AirAsia X will be renamed AirAsia Aviation and be led by long-time executive Bo Lingam under the plan. Capital A hopes submit to Bursa Malaysia Securities for approval in February. AirAsia X is also classified as PN17, but in an interview with Reuters on Tuesday, Fernandes said under the restructuring plan, both listed companies would emerge from that status by July 2023. Capital A investors will receive an in-specie distribution in the former AirAsia X, giving them exposure to a pure airline business with multiple brands. Fernandes said the distressed-company status had a "major impact" on the airline's share price by reducing investor confidence, which he hoped to restore through the restructuring plan.

☆ Stocks making the biggest moves in the premarket: Hibbett, Silvergate Capital, Chemours and more
▼ + stars: | 2022-11-29 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Silvergate Capital (SI) – The digital assets bank's shares fell another 2.4% in the premarket, extending yesterday's 11.1% loss. Chemours (CC) – Chemours tumbled 6.1% in premarket trading after the chemical maker said its full-year earnings were tracking slightly below the low end of its prior guidance range. United Parcel Service (UPS) – UPS gained 1.4% in the premarket after Deutsche Bank upgraded the delivery service's stock to "buy" from "hold." HSBC (HSBC) – HSBC struck a deal to sell its Canadian unit to the Royal Bank of Canada for $10.1 billion in cash. Roku (ROKU) – Roku shares fell 2.9% in premarket action after KeyBanc downgraded the video streaming device company's stock to "sector weight" from "overweight," saying several facets of its bullish thesis on Roku failed to play out.

☆ Singapore state investor Temasek to open Paris office in 2023
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

SINGAPORE, Nov 29 (Reuters) - Singaporean state investor Temasek Holdings (TEM.UL) will open an office in Paris next year as it seeks to focus on investments in the Europe, Middle East and Africa (EMEA) region, it said on Tuesday. "Our decision to open a new European office reflects the continuing importance of EMEA as an investment destination," Temasek's EMEA head Uwe Krueger said in a statement. Ranked among the top 10 state investors in the world, Temasek's portfolio value rose to a record S$403 billion ($293 billion) in the year to March 2022. Temasek, which has stakes in large listed Asian companies such as DBS Group (DBSM.SI) and China Construction Bank (601939.SS), is mainly focused on Asia. ($1 = 1.3759 Singapore dollars)Reporting by Yantoultra Ngui; Editing By Anshuman Daga and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

SINGAPORE, Nov 28 (Reuters) - Link Real Estate Investment Trust (0823.HK), Asia's biggest REIT, has emerged as the frontrunner to buy a portfolio of assets from Singapore shopping mall owner NTUC Enterprise Co-operative Ltd, multiple sources told Reuters on Monday. If Link REIT does buy, the assets will be its first in Singapore. Mercatus and Hong Kong-listed Link REIT declined to comment on the matter. Nearly three-quarters of its portfolio value is in Hong Kong. Link REIT has been on the prowl for assets in Singapore and other countries to diversify its portfolio.

That puts Hong Kong in a league of its own. The competitive tension between Hong Kong and Singapore is greater than ever. The danger is that Hong Kong’s new embrace of virtual assets will set up a regulatory race to the bottom, even if FTX’s collapse means it might happen at a slower pace. The policy statement notes that retail investors in other markets have been granted exposure to virtual assets including through exchange-traded products. Column by Thomas Shum in Hong Kong, Pranav Kiran in Bengaluru.

☆ Here are Monday's biggest analyst calls: Amazon, Nio, Disney, Carvana, Coinbase, Costco & more
▼ + stars: | 2022-11-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan reiterates Amazon as top idea JPMorgan said the e-commerce giant is well positioned heading into the holiday season. " Morgan Stanley initiates Las Vegas Sands as overweight and names DraftKings as a top pick Morgan Stanley said in its initiation of Las Vegas Sands that it sees an attractive risk/reward. Morgan Stanley downgrades MongoDB to equal weight from overweight Morgan Stanley said in its downgrade of the database platform company that it's concerned about slowing growth for MongoDB. JPMorgan reiterates Charles Schwab as overweight JPMorgan said Charles Schwab is well positioned as one of the biggest "distributors of third-party mutual funds." Morgan Stanley upgrades Restaurant Brands to equal weight from underweight Morgan Stanley said it likes that the owner of brands such as Burger King appointed the former Domino's CEO as executive chairman.

☆ Sea is turning the tide
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Nov 16 (Reuters Breakingviews) - The loss-making Southeast Asian technology giant’s decision to ditch its growth-at-all-costs strategy is showing results. The $28 billion U.S. listed games-to-payments company Sea (SE.N) has been exiting some markets and slashing jobs and discounts. Overall group revenue grew 17% to $3.2 billion in the quarter, beating analyst estimates. Sea is now working toward achieving Shopee’s adjusted EBITDA breakeven by the end of 2023. The improvements will shore up support for its decision to remain in Brazil, a big emerging market.

☆ Piyush Gupta might be banking’s boldest boss
▼ + stars: | 2022-11-15 | by ( Una Galani | ) www.reuters.com time to read: +7 min

Piyush Gupta of $65 billion Singaporean lender DBS Group (DBSM.SI) appears to be that CEO, whether he thinks of himself that way or not. Yet the two banks trade on a similar multiple of 1.5 times their estimated 2022 book value, according to Refinitiv. There is limited room for growth in DBS’ tiny home market, a city with a population of 5.5 million people. That, plus the pressure to maintain that 1.5-times-book market value, means Gupta needs to keep finding ways to grow. U.S. President Joe Biden and Chinese President Xi Jinping held talks on Nov. 14 while at the G20 summit in Indonesia.

☆ Factbox: From Genesis to Voyager, crypto firms' exposure to FTX is coming to light
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +6 min

REUTERS/Dado Ruvic/Illustration/File PhotoNov 17 (Reuters) - After major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout. While the extent of the contagion across crypto markets remains unclear, here are some firms that have given information about their exposure to FTX. GENESISThe crypto lending arm of U.S. digital asset broker Genesis Trading suspended customer redemptions on Wednesday, citing the sudden failure of FTX. It said it had no exposure to FTT, no exposure to Alameda Research and no loans to FTX. COINSHARESCrypto asset manager CoinShares has $30.3 million worth of exposure to crypto exchange FTX, CoinShares said in a statement on Nov. 10.

☆ Factbox: From Binance to Voyager, crypto firms' exposure to FTX is coming to light
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +5 min

LONDON, Nov 14 (Reuters) - After major crypto exchange FTX filed for U.S. bankruptcy protection on Friday, the crypto industry is bracing for further fallout. While the extent of the contagion across crypto markets remains unclear, here are some firms who have given information about their exposure to FTX. loadingCOINBASECoinbase Global Inc (COIN.O) said in a blog post on Nov. 8 that it had $15 million worth of deposits on FTX. It said it had no exposure to FTT, no exposure to Alameda Research, and no loans to FTX. COINSHARESCrypto asset manager CoinShares has $30.3 million worth of exposure to crypto exchange FTX, CoinShares said in a statement on Nov. 10.

☆ Australia to consider banning paying of ransoms to cyber criminals
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Nov 13 (Reuters) - Australia's Home Affairs Minister Clare O'Neil on Sunday said the government would consider making illegal the paying of ransoms to cyber hackers, following recent cyber attacks affecting millions of Australians. Australia's biggest health insurer, Medibank Private Ltd (MPL.AX), last month suffered a massive cyber attack, as Australia grapples with a rise in hacks. Asked on ABC television on Sunday whether the government planned to look at outlawing ransom payments to cyber criminals, O'Neil said "that's correct". Around 100 officers would be part of the new partnership between the two federal agencies, which would act as a joint standing operation against cyber criminals. The AFP earlier this week said Russia-based hackers were behind the attack on Medibank, which compromised data from around 10 million current and former customers.

☆ Australia unveils joint cyber police taskforce to 'hunt down' hackers
▼ + stars: | 2022-11-12 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Nov 12 (Reuters) - Australia on Saturday formalised a new cyber-policing model in a stepped-up effort to "hunt down" cyber criminal syndicates, following recent hacks impacting millions of Australians. Australia's biggest health insurer, Medibank Private Ltd (MPL.AX), last month was hit by a massive cyber attack, as Australia grapples with a rise in damaging hacks. O'Neil said around 100 officers would be part of the new partnership between the two federal agencies, which would act as "a joint standing operation against cyber criminal syndicates". The taskforce would "day in, day out, hunt down the scumbags who are responsible for these malicious crimes", she said. Attorney General Mark Dreyfus, speaking alongside O'Neil in Melbourne, refused to be drawn on whether the ransomware group REvil was responsible for recent cyber attacks on Australians.

☆ Australian telecom firms fined $22.1 mln for false internet speed claims
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

Nov 11 (Reuters) - Three Australian telecom firms have been ordered by a court to pay a collective A$33.5 million ($22.08 million) in penalties for making misleading claims about speeds of some NBN internet plans, the country's competition regulator said on Friday. The Australian Federal Court has ordered Telstra (TLS.AX) to pay A$15 million, a unit of TPG Telecom (TPG.AX) to cough up A$5 million, and imposed a fine of A$13.5 million on Optus, a unit of Singapore Telecommunications (STEL.SI), the Australian Competition & Consumer Commission (ACCC) said. All three telcos have admitted in court of making false or misleading statements, the regulator said, claiming nearly 120,000 customers were affected. According to the ACCC, the false or misleading statements were made for at least 12 months in 2019 and possibly extended until 2020, related to their 50 Megabits per second (Mbps) or 100Mbps fibre to the node plans. ($1 = 1.5175 Australian dollars)Reporting by Harshita Swaminathan; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Crypto stocks slide as FTX prepares for bankruptcy proceedings
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

Nov 11 (Reuters) - Shares of cryptocurrency and blockchain-related firms dropped on Friday after FTX, one of the biggest crypto exchanges, said it would initiate bankruptcy proceedings in the United States, triggering a potentially massive meltdown in the industry. Silvergate Capital (SI.N) declined 10%, leading the losses in the sector, while bitcoin holder MicroStrategy Inc (MSTR.O) slipped 2.6%. Bitcoin fell 3.6% to $16,919 as FTX Chief Executive Sam Bankman-Fried said he will step down from his position. The turmoil at FTX, which has rescued other players during the crypto market's recent crash, has raised concerns about the future of the crypto industry. ProShares Bitcoin Strategy ETF (BITO.P) fell 8%, while Short Bitcoin Strategy ETF (BITI.P) jumped 7.4%.

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