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☆ Wealth advisor: stay with broadly-diversified banks and stay away from private credit
▼ + stars: | 2024-10-04 | 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 EmailWealth advisor: stay with broadly-diversified banks and stay away from private creditMark Avallone of Potomac Wealth Advisors likes non-bank financials and diversified banks who do not rely on deposits. He says to avoid private credit due to its risky nature.

Persons: Mark Avallone Organizations: Potomac Wealth Advisors

☆ The Fed rate cut will boost these kinds of stocks the most, according to UBS
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The Federal Reserve's interest rate cut will give a boost to these stocks, according to UBS. UBS strategist Patrick Palfrey identified stocks that have historically outperformed when the Fed lowers interest rates, a move that he expects will especially benefit smaller, more volatile and less-efficient companies. He expects this is true across the large-cap and small-cap universes represented by the S & P 500 and Russell 2000. Here are five S & P 500 stocks UBS expects can benefit most. By comparison, the SPDR S & P Regional Banking ETF (KRE) is up more than 8% year to date.

Persons: Patrick Palfrey, Russell, Palfrey Organizations: UBS, Regional Banking, CNBC, Moderna, Resources, National Bank Financial, Perpetua Resources Locations: ROE, Cleveland , Ohio, Idaho

☆ CNBC's Inside India newsletter: India Inc might not even need a Fed rate cut — but it wants one
▼ + stars: | 2024-06-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

The big storyEmerging markets have been on tenterhooks for the better part of this year as the Federal Reserve has been dangling the prospect of an interest rate cut. Historically, as U.S. interest rates fall, the allure of the mighty dollar fades to the benefit of other currencies. Indeed, unlike most developed economies, India's interest rate regime in 2024 isn't any different from that of 2018. There lies the disconnect between the economy, the stock market, and a single stock. Non-bank lender Akme Fintrade India and engineering firm DEE Development Engineers will debut on the stock market on Wednesday.

Persons: Sumant Sinha, we've, Sinha, It's, Fitch, Rahul Jain, Goldman Sachs, Jake Sullivan, Modi, Narendra Modi, CNBC's Charmaine Jacob, Raamdeo Agrawal, CNBC's Tanvir Gill, Jain Organizations: Bloomberg, Getty, Federal Reserve, India Inc, Nasdaq, Reserve Bank of, U.S, Societe Generale, Goldman, Clean Energy, CNBC, Motilal Oswal Financial Services, of India, Bangladesh, Australia, DEE Development Engineers Locations: Tuticorin, India, Reserve Bank of India, Japan, Britain, Delhi

☆ How to invest in India, the world's fastest-growing major economy
▼ + stars: | 2024-06-13 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +10 min

India has been dubbed the "perfect" emerging market to invest in, but it can be tricky for those outside the country to gain access. India's stock market has been making headlines this year, and for good reason. "India remains one of the best-performing equity markets this year, underpinned by the world's fastest-growing major economy and a resilient macro backdrop," said James Thom, senior investment director Asian equities at Abrdn, in a note to clients. Some of the top ETFs in North America include the Columbia India Consumer ETF , the First Trust India NIFTY 50 Equal Weight ETF and the BMO MSCI India ESG Leaders Index ETF . In Europe, the list includes the iShares MSCI India UCITS ETF , which provides exposure to around 85% of the stock market, and the Xtrackers MSCI India Swap UCITS ETF Capitalisation 1C .

Persons: Krishnamurthy Subramanian, Narendra Modi's, Kevin T, Carter, Goldman Sachs, James Thom, aren't, GDRs, Arjun Jayaraman, there's, Jayaraman, Abrdn's Thom, Surendra Goyal, Thom, EMQQ Global's Carter, Modi's, it's, Jonathan Pines, — CNBC's Ganesh Rao, Tuul, Bruno Morandi Organizations: CNBC Pro, IMF, Bharatiya Janata Party, EMQQ, CNBC, Wealthmills Securities, Global, Causeway, Mutual, Columbia India Consumer ETF, First Trust India, BMO, India, Nasdaq, Investors, Nokia, Bank of America, Citi, Edge, Reliance Industries, U.S ., Bank of India, Network18, Bank, Getty Locations: India, China, North America, Europe, Singapore, U.S, Indian, Chhatrapati Shivaji Terminus, Mumbai

☆ Big banks are more at risk of a commercial real estate meltdown than people think, new study says
▼ + stars: | 2024-05-30 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Big lenders are more exposed to commercial real estate than it might seem at first glance, a study says. In addition to lending to property owners, big firms also offer indirect lending to REITs, raising their exposure by about 40%. Wall Street has been worried about distress in commercial real estate amid high interest rates. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLeading lenders have greater exposure to commercial real estate debt than typically understood, implying a larger chance of systemic risk, according to a new study.

Persons: — Organizations: Service, Bank Credit Lines, Bank Financial, Business

☆ The West can't completely isolate Russian banks because it would be disastrous beyond Russia
▼ + stars: | 2024-05-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

There's one major thing the West could, but won't, do: kill all Russian banks' access to the Society for Worldwide Interbank Financial Telecommunications, or SWIFT. 'Russia's economy is in deep, deep trouble'Despite the West's frustration with how Russia's economy still appears to be holding up, the sanctions appear to be finally working. "In five years, you're going see a really disastrous slowdown in the Russian economy," said Portes, who called for stronger sanctions enforcement. AdvertisementIn April 2022, Russia's central bank governor Elvira Nabiullina warned Russia's reserves can't last forever. "A significant problem is that they are running out of foreign exchange reserves, and you can't create foreign reserves," Portes added.

Persons: —, hasn't, SWIFT, Alex Capri, Richard Portes, Portes, Alexander Kolyandr, Elvira Nabiullina, Russia's Organizations: Service, West, Society, Worldwide Interbank Financial Telecommunications, Business, SWIFT, European Union, National University of Singapore, US Customs Service, London Business School, Carnegie Endowment, International Peace, Central Bank of Locations: Russia, Ukraine, Moscow, Russian, SWIFT, Capri, Asia Pacific, Europe, India, China, Central Bank of Russia, Russia's

☆ A bunch of analysts just hiked price targets for these 2 stocks, giving them over 65% upside
▼ + stars: | 2024-03-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Eight analysts upgraded their target prices on two Canadian stocks in the past week, giving both more than 65% upside potential. Wedbush Securities analysts Gerald Pascarelli and Antoine Legault hiked their price target for the stock's U.S.-listed shares to $2.50, giving it an upside of 18%. Investment banks Beacon Securities and Alliance Global Partners are significantly more bullish on the stock, giving it upside of 110% and 75%, respectively. VerticleScope reported revenue of $17.9 million, compared to $16.6 million expected by analysts. However, analysts believe the worst is behind it, as all eight covering the stock raised their price targets after the company's earnings.

Persons: Gerald Pascarelli, Antoine Legault, Nick Anderson, MKM Roth, Anderson, Canaccord Genuity, Aravinda Galappatthige Organizations: CNBC, Cresco Labs, Wedbush Securities, Mar, Investment, Beacon Securities, Alliance Global Partners, Capital Markets, National Bank Financial Locations: Mar, U.S

☆ China tightens regulations on consumer finance companies
▼ + stars: | 2024-03-19 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

(Photo by VCG/VCG via Getty Images)China has tightened the screws on consumer finance companies, raising the capital limit for non-bank financial firms which provide small personal loans. The measures announced by the National Financial Regulatory Administration on Tuesday will come into effect April 18. It comes at a time when Beijing is tightening its grip on the financial sector. The new rules stipulate that firms eligible to provide consumer loans — excluding those for home and car purchases — need to have a minimum registered capital of 1 billion yuan ($139 million). Investors of consumer finance firms are divided into main investors and general investors, according to the statement.

Organizations: of, National Committee of, Political Consultative, Getty Images, National Financial Regulatory Administration, Reuters, Investors Locations: BEIJING, CHINA, Beijing, China

The order by the Hong Kong High Court also is not a remedy for the crisis of confidence haunting China’s financial markets. Markets in both Hong Kong and Shanghai fell Tuesday while share prices of property developers sank. State-owned Chinese banks and other domestic entities own most of the debt owed by Chinese property developers. David Goodman, director of the University of Sydney’s China Studies Center, said he thinks China’s property debt burdens are unlikely to precipitate a major financial crisis. “The fact of the matter is that the Chinese financial system is not as open or as marketized (as in the United States),” he said.

Persons: Brock Silvers, haven't, Silver, ”, Seng, David Goodman, —, Soo Organizations: Evergrande, Hong Kong High, Kaiyuan, ”, Sunac China Holdings, F Properties, Shanghai, Swiss Re Institute, Swiss, University of Sydney’s China Studies Center Locations: BANGKOK, Hong Kong, China, Beijing, Shanghai, Guangzhou, United States, U.S, Singapore

☆ Wanxiang Trust: Another Chinese ‘shadow bank’ faces major financial trouble
▼ + stars: | 2023-12-05 | by ( Laura He | ) edition.cnn.com time to read: +4 min

A trust company usually manages funds for individuals, companies or other entities. The reports come two weeks after Zhongzhi Enterprise Group, another major shadow bank, declared itself “insolvent” after missing payments to its investors. Moody’s Investors Services also warned in September that China’s trust sector could face liquidity challenges during the current property downturn. The two medical trust products were related to a hospital project in Guizhou, which is one of China’s most indebted provinces, according to Cailianshe. Last month, at its twice-a-decade Central Financial Work Conference, the Chinese leadership stressed the importance of addressing risks more systematically across the financial sector and preserving overall stability.

Persons: Hong Kong CNN —, Cailianshe, Wanxiang, hasn’t, Zhongzhi Organizations: Hong Kong CNN, Hong Kong CNN — Wanxiang Trust, Century Business Herald, Wanxiang Group, Zhongzhi Enterprise Group, ”, Zhongrong, Zhongzhi Enterprise Group Bloomberg, Getty, Fitch, Moody’s, Services, Kaisa, CNN Local, Financial Work Conference Locations: China, Hong Kong, Hangzhou, Zhejiang, Beijing, Guizhou

☆ Executives go missing in China—this time linked to troubled shadow bank Zhongzhi
▼ + stars: | 2023-12-01 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Two Chinese business executives at companies controlled by the embattled financial conglomerate Zhongzhi have gone missing, according to statements by their respective firms. The development comes just days after Chinese authorities launched a criminal investigation into the troubled shadow bank, one of China’s largest. Both companies are controlled by Zhongzhi’s investment units, and the missing executives have been connected with the conglomerate for years. The office building of Zhongrong International Trust, a trust company partially owned by Zhongzhi Enterprise Group, in Beijing. Zhongzhi’s trust banking unit has invested about a tenth of its money in real estate.

Persons: Zhongzhi, Ma Hongying, Ma Changshui, Florence Lo, Xie Zhikun, —, ”, Xie, Xi Jinping Organizations: Hong Kong CNN, Gym Education Technology, Shenzhen Stock Exchange, International Trust, Zhongzhi Enterprise Group, Beijing, Business Locations: Hong Kong, Dalian, Xinjiang, Beijing, China’s, China

☆ ECB could take bigger role in supervising shadow banks, Enria says
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

European Union (EU) flags fly in front of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, July 8, 2020. REUTERS/Ralph Orlowski/File Photo Acquire Licensing RightsFRANKFURT, Nov 28 (Reuters) - The European Central Bank may need to take on a bigger role in supervising shadow banks as they are now bigger than conventional lenders and may be sitting on elevated risk, the outgoing head of the ECB's supervision arm told European newspapers. "These are different animals to banks, so we shouldn’t expect to supervise them in the same way as we supervise banks." Taking on oversight of shadow banks would require legislative changes, a time consuming process even under the best of circumstances, and requiring broad political agreement. But some have argued that such a change could ease liquidity stress, particularly if shadow banks gained access to the ECB lending operations.

Persons: Ralph Orlowski, Andrea Enria, Expansión, Enria, Balazs Koranyi, Tomasz Janowski Organizations: Union, European Central Bank, REUTERS, Rights, prudential, ECB, Thomson Locations: Frankfurt, Germany

☆ China's money market shows signs of liquidity tightness towards month-end
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsSHANGHAI, Nov 27 (Reuters) - Cash conditions in China's money market showed signs of tightness on Monday, as market participants grew cautious about month-end demand and a recent liquidity squeeze remained fresh in memory. The price of the benchmark seven-day repos traded in the interbank market, hit a high of 2.8% on Monday, the highest level since Oct. 31. Meanwhile, the borrowing cost of such repos for non-bank financial institutions was about 3.5%, according to traders. "Money that can help span the month-end has tightening bias, and it's expensive for non-banks," said a trader at a Chinese bank. NCDs has been a popular short-term debt instrument used by financial institutions in the interbank market for financing.

Persons: Tingshu Wang, repos, Liu Yu, NCDs, Kim Coghill Organizations: People's Bank of China, REUTERS, Rights, GF Securities, AAA, Reuters, Shanghai, Thomson Locations: Beijing, China

☆ China police launch probe into troubled financial conglomerate Zhongzhi
▼ + stars: | 2023-11-27 | by ( Laura He | ) edition.cnn.com time to read: +4 min

The Beijing police has launched a probe into the wealth management unit of Zhongzhi Enterprise Group, the authorities said over the weekend. Xie Zhikun, the founder of the group, died of a heart attack in December 2021, but his nephews hold key posts in the group, according to Chinese state media. Under China’s Criminal Procedural Law, “criminal mandatory measures” can mean anything from bail pending trial or house arrest to detention or arrest. The office building of Zhongrong International Trust, a trust company partially owned by Zhongzhi Enterprise Group, in Beijing, China August 22, 2023. A major reason behind the company’s financial woes is its strong links with China’s real estate sector.

Persons: Zhongzhi, Xie, Xie Zhikun, Florence Lo, ” Zhongzhi Organizations: Hong Kong CNN, Beijing, Zhongzhi Enterprise Group, International Trust, Reuters, CNN, Trust Locations: Hong Kong, Beijing, China, China’s

☆ India's Tata Technologies' IPO garners bids worth over $18 bln
▼ + stars: | 2023-11-24 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

A Tata sign is seen outside their offices in London, Britain March 30, 2016. REUTERS/Toby Melville//File Photo Acquire Licensing RightsBENGALURU, Nov 24 (Reuters) - India's Tata Technologies' 30.43 billion rupee ($366 million) initial public offering (IPO) remained the most oversubscribed domestic IPO this week, signalling robust demand for the Tata group's first public float in nearly two decades. Investors bid for about 3.13 billion shares worth 1.56 trillion rupees ($18.74 billion) by the close of subscriptions on Friday, compared with the 45 million shares on offer, with institutional investors showing the most interest. This is the first Tata group company IPO since Tata Consultancy Services (TCS.NS) in 2004. Tata Technologies, which provides engineering and technology services to auto, aero and heavy machinery makers, will be valued at 202.83 billion rupees at the top-end of its price band of 475-500 rupees.

Persons: Toby Melville, Arun Kejriwal, Rama Venkat, Sonia Cheema Organizations: Tata, REUTERS, Rights, India's Tata Technologies, Tata group's, Kejriwal Research, Investment Services, Tata Consultancy Services, Tata Technologies, Fedbank Financial Services, Flair, Industries, Indian Renewable Energy Development Agency, Gandhar Oil, Kejriwal, Thomson Locations: London, Britain, India, Bengaluru

☆ Zhongzhi Enterprise Group: Chinese shadow bank can’t pay its bills
▼ + stars: | 2023-11-23 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi/Hong Kong CNN —A major wealth management company in China has told investors it can’t pay all its bills, reigniting fears that the country’s long-running real estate slump may be spilling over into the $3 trillion shadow banking sector. Zhongzhi Enterprise Group (ZEG) wrote to investors on Wednesday, disclosing that it was “severely insolvent,” according to a report in Chinese state-owned news outlet lanjinger.com, citing a letter from the shadow bank, which it also published. CNN is unable to verify the letter or its contents, and ZEG did not respond to a request for comment. Analysts have estimated that the trust industry, or “shadow banking” sector, is worth $2.9 trillion, making it bigger than the French economy. Shadow banks typically provide financing through off-balance-sheet activities or via non-bank financial institutions, such as trust firms.

Persons: ZEG Organizations: Hong Kong CNN, Zhongzhi Enterprise, Reuters, CNN, Zhongrong, Trust, Investors Locations: China, New Delhi, Hong Kong, Beijing

☆ Euro zone's shadow banks face risk of margin calls, ECB says
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, Nov 22 (Reuters) - Euro zone shadow banks face the risk of receiving large margin calls or client redemptions they cannot meet because they do not have enough cash on hand, the European Central Bank (ECB) said on Wednesday. The ECB said liquidity buffers among shadow banks - an umbrella term for funds, insurers and other non-bank financial intermediaries (NBFI) - were "very low", exposing them to the risk of running out cash at times of market stress. Insurance companies and pension funds (ICPF) that use derivatives could be exposed to the risk of "large margin calls", the ECB added, citing those suffered by their UK peers last year as a precedent. "Any sharp increase in sovereign bond yields or a spike in financial market volatility could expose those ICPFs which use interest rate derivatives to large margin calls," the ECB said. The central bank reiterated its call for introducing regulation for shadow banks like the one that governs traditional lenders, including liquidity requirements and stress tests.

Persons: Francesco Canepa, Mark Potter Organizations: European Central Bank, ECB, Insurance, Thomson Locations: FRANKFURT

☆ Plaid taps Adyen executive to lead its European operations
▼ + stars: | 2023-11-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

U.S. financial technology firm Plaid has hired former Adyen executive Brian Dammeir as its new head of Europe, the company told CNBC exclusively. Plaid, which was last valued by investors at $13.4 billion in a funding round, offers technology that enables financial technology apps to retrieve data from people's bank accounts and initiate payments on their behalf. Dammeir told CNBC. Bandourian, a former Booking.com executive, was appointed the company's first head of Europe last year. Payments has been a big focus for Plaid beyond financial data, with payment volumes on the platform having climbed more than 90% in 2023.

Persons: Plaid, Brian Dammeir, Dammeir, Ripsy Bandourian, Keith Grose, Dammeir didn't Organizations: CNBC, San, Plaid Locations: Europe, San Francisco, fintech, Adyen, North America

REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Nov 16 (Reuters) - India's central bank on Thursday tightened norms for personal loans and credit cards, raising the risk of slowing loan growth. Reuters GraphicsRBI Governor Shaktikanta Das said last month the central bank was closely monitoring some fast-growing personal loan categories for signs of stress. Subsequently, Reuters reported that the RBI was particularly concerned with the surge in small personal loans and was considering tighter rules for such borrowings. Unsecured personal loans increased 23% from a year ago as of Sept. 22, 2023, while outstanding amounts on credit cards jumped nearly 30%, central bank data shows. "In particular, limits shall be prescribed for all unsecured consumer credit exposures," the central bank said.

Persons: Francis Mascarenhas, Dhananjay Sinha, Shaktikanta Das, Transunion, Systematix, Sinha, Siddhi Nayak, Ira Dugal, Shinjini Ganguli, Dhanya Ann Thoppil Organizations: Bank of India, REUTERS, Rights, Reserve Bank of, NBFCs, Systematix Research, Reuters, Siddhi, Sethuraman NR, Thomson Locations: Mumbai, India, Reserve Bank of India, Bengaluru

☆ Buy Now, Pay Later Lender Is Surfing the Private Credit Wave
▼ + stars: | 2023-11-09 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Pay-later provider Affirm, whose shares are up over 170% year to date, said it has added more buyers of loans to its funding platform. Photo: Gabby Jones/Bloomberg NewsHigher interest rates were supposed to put an end to the fast growth of buy now, pay later lenders. But right now they might actually be helping out. Unlike banks that fund their loans through their deposits, BNPL players that offer small loans and installments to shoppers need to get that money from the market, as do other nonbank financial-technology companies. So they are, in theory, more exposed to the cost of rising interest rates.

Persons: Gabby Jones Organizations: Bloomberg

☆ Buy Now, Pay Later Is Surfing the Private Credit Wave
▼ + stars: | 2023-11-09 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Pay-later provider Affirm said it has added more buyers of loans to its funding platform. Photo: Gabby Jones/Bloomberg NewsHigher interest rates were supposed to put an end to the fast growth of buy now, pay later lenders. But right now they might actually be helping out. Unlike banks that fund their loans through their deposits, BNPL players that offer small loans and installments to shoppers need to get that money from the market, as do other nonbank financial-technology companies. So they are, in theory, more exposed to the cost of rising interest rates.

Persons: Gabby Jones Organizations: Bloomberg

REUTERS/Ken Cedeno/Pool/File Photo Acquire Licensing RightsDUBLIN Nov 8 (Reuters) - A rise in geopolitical tensions across the world could aggravate already subdued growth in Europe and China and the spillover may alter the path of the U.S. economy, Federal Reserve Governor Lisa Cook said on Wednesday. "We are not only watching subdued growth, we're watching the geopolitical tensions that we're all talking about, and that could change the outlook both in the United States and the global economy." Cook added that geopolitical tensions may in particular destabilize commodity markets and access to credit in the current higher interest rate environment. "Any shock could make the situation worse that we're already (in)... and could be destabilizing to commodity markets, could be destabilizing to the system of credit," Cook said. "More broadly, escalation of geopolitical tensions could lead to lower economic activity and increased fragmentation of global trade flows and financial intermediation, raising financing and production costs and contributing to more sustained supply chain challenges and inflationary pressures," Cook said.

Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, We're, Padraic Halpin, Conor Humphries, Ann Saphir, Lindsay Dunsmuir, Leslie Adler, Mark Potter Organizations: Governors, Federal Reserve System, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, DUBLIN, Federal, Central Bank of Ireland, Thomson Locations: Michigan, Washington ,, Europe, China, U.S, Dublin, United States, Ukraine, Russia, East, San Francisco

"But I would say that an expectation of higher near-term policy rates does not appear to be causing the increase in longer-term rates." The interest rate on the 10-year Treasury bond has risen roughly a percentage point since the summer, breaching the 5% level late last month before dropping in recent days to its current level around 4.64%. The Fed has not raised its policy rate since July. Cook did not comment on her specific view of the Fed's policy rate, focusing instead on an overview of financial stability issues. In her overview of financial stability, Cook said she felt that the banking system had weathered the stresses of last spring, and "remains sound and resilient overall."

Persons: Lisa DeNell Cook, Ken Cedeno, Lisa Cook, Cook, Jerome Powell, Howard Schneider, Paul Simao Organizations: Governors, Federal Reserve System, Banking, Housing, Urban, Capitol, Washington , D.C, REUTERS, Rights, Federal, Duke University, Thomson Locations: Michigan, Washington ,, U.S

Federal Reserve Chair Jerome Powell speaks during a meeting of the Economic Club of New York in New York City, U.S., October 19, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 2 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The MSCI World equity index rose just over 1%, its best day since August while the Nasdaq jumped 1.6%, its fourth rise in a row, for its best day since August too. Malaysia's central bank is expected to keep its key interest rate at 3% and through 2024, despite a weakening ringgit, amid stable domestic inflation and a steady growth outlook. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jerome Powell, Brendan McDermid, Jamie McGeever, Wall, Jerome Powell's, Powell, Evergrande, Josie Kao Organizations: Economic, of New, REUTERS, Treasury, Bank of, Nikkei, Nasdaq, South, South Korea CPI, Thomson, Reuters Locations: of New York, New York City, U.S, Malaysian, Asia, Hong Kong, South Korea, July's, Malaysia, Australia

While bad loans in India's banking sector are at a decade-low, estimated at 3.6% of assets by March 2024 by the central bank, Reserve Bank of India Governor Shaktikanta Das said this month the central bank was monitoring some categories of personal loans, without elaborating. What's worrying the regulator is a surge in tiny personal loans, particularly loans of up to 10,000 rupees ($120) taken for three to four months, often for "lifestyle" spending, according to a person familiar with the central bank's thinking. Four people discussed the central bank's concerns with Reuters but declined to be identified as they are not authorised to speak to the media. Ismail Sayyed, a 30-year old cab driver from Mumbai, took his first personal loan of 5,000 rupees this year. Central bank officials "have been ringing the bell", said an official at a large bank that has seen sharp growth in personal loans.

Persons: Francis Mascarenhas, Shaktikanta Das, CRIF, Ismail Sayyed, Kadam, Rajeev Jain, Ira Dugal, Sonali Paul Organizations: Reserve Bank of India, REUTERS, Reuters, Bajaj Finance, UBS, Thomson Locations: Mumbai, India

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