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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUBS: China will benefit less from the Fed's rate cut than other APAC marketsEva Lee, head of Greater China equities at UBS, explains why she thinks China will not benefit much from the Federal Reserve's interest rate cut, and why it may also make it easier for the PBOC to move on its policy.
Persons: Eva Lee Organizations: UBS Locations: China
Jacob Garcia/ReutersPolls in Mexico are set to close at 6 p.m. local time. More than 98 million voters are registered to cast a ballot in Mexico, and 1.4 million Mexicans are eligible to vote abroad. How voting has unfolded so far: Polls opened at 8 a.m. local time, however, on Sunday, some voting stations in parts of the country opened with delays. Outside polling stations, voters told CNN that public security was one of their main concerns. US officials are closely monitoring the presidential election as it comes at a critical time for the Biden administration.
Persons: Jacob Garcia, Claudia Sheinbaum, Xochitl, Jorge Álvarez Máynez, “ Morena, Gálvez, Biden Organizations: Reuters, Morena, PAN, ’ Movement, CNN, Electoral Institute, Mexican Consulate Locations: San Juan Chamula, Mexico, Mexico City, Yucatán, Madrid, Spain, United States, Mexican, Los Angeles
Live updates: Trump found guilty in hush money trial
  + stars: | 2024-05-31 | by ( Deva Lee | Leinz Vales | ) edition.cnn.com   time to read: +2 min
Here’s what to know about the case following Trump’s conviction:When will Trump be sentenced? Judge Juan Merchan has set Trump’s sentencing for 10 a.m. Shortly after Trump was convicted, his attorney Todd Blanche asked Merchan for an acquittal of the charges notwithstanding the guilty verdict. However, if a Floridian’s conviction is out of state, Florida defers to that state’s laws for how felon can regain their voting rights. Read more on the aftermath of Trump's guilty verdict.
Persons: Donald Trump, Trump, , Juan Merchan, Todd Blanche, Merchan, Richard L, Hasen, ” Hasen, Read, Trump's Organizations: Trump, University of California Locations: York, Los Angeles, U.S, Florida, Manhattan
An Iranian attack on Israel would likely be carried out by Iranian proxy forces in the region, rather than by Iran directly, two people familiar with US intelligence on the matter told CNN. Tehran is wary of a dramatic escalation in the fighting, the sources said, and does not want to give the United States or its allies an excuse to attack Iran directly. Iran and its proxy militia groups also do not appear poised to attack US troops or other assets in the region for similar reasons, the sources said. There is some debate, however, about whether they will wait until after Ramadan ends to strike, said one of the sources. Just waiting for the right time.”The Office of the Director of National Intelligence declined to comment.
Persons: Ramadan, Organizations: CNN, National Intelligence Locations: Israel, Iran, Tehran, United States, Damascus
President Joe Biden is seen at a fundraising event in New York City on Thursday. Elizabeth Frantz/ReutersPresident Joe Biden said Saudi Arabia and other Arab countries are “prepared to fully recognize Israel” during remarks at an off-camera fundraiser Thursday night, according to reporters in the room. But look, I've been working with the Saudis and with all the other Arab countries, including Egypt and Jordan and Qatar. They're prepared to fully recognize Israel, fully recognize Israel for the first time,” Biden said, according to reports from journalists in the room. We've got to get more food and medicine, supplies in to the Palestinians,” Biden said, according to reports.
Persons: Joe Biden, Elizabeth Frantz, Israel ”, I've, They're, ” Biden, Biden, Barack Obama, Bill Clinton, We've, Locations: New York City, Saudi Arabia, Israel, Gaza, Egypt, Jordan, Qatar
Maxym Marusenko/NurPhoto/Getty ImagesA Russian helicopter pilot Maxim Kuzminov who defected to Ukraine in a dramatic operation is dead, Ukraine’s Defense Intelligence Directorate (GUR) tells CNN. A source at Ukraine’s GUR confirmed to CNN the body was that of Kuzminov, but would not comment on how he had died. Spanish Civil Guard officers investigate the garage where the body of Russian pilot Maxim Kuzminov was found in Villajoyosa, Spain, on February 13. Some context: Last September, CNN reported on how the Russian pilot flew his Mi8 combat helicopter across the border – in an operation directed by Ukraine’s GUR. In an interview, carried out under the auspices of the GUR, Kuzminov explained how he planned his defection and why he did it, telling reporters he was opposed to the war.
Persons: Butenko, Andrew Carey, Al Goodman, Maxim Kuzminov, Maxym, Ukraine’s GUR, Rafa Arjones, Dmitry Peskov, Sergey Naryshkin, Kuzminov Organizations: Ukraine’s Defense Intelligence, CNN, Spanish Civil Guard, Ukraine’s, Civil Guard, Reuters, Foreign, RIA Novosti, Mi8 Locations: CNN’s, Kyiv, Madrid, Russian, Ukraine, Spain, Villajoyosa, Informacion, Russia, Moscow
Three patients have died after electrical power was lost at the Nasser Medical Complex in the southern Gaza city of Khan Younis, according to an urgent update from the Hamas-run health ministry on Friday. “Three patients died in intensive care as a result of the power outage and the cessation of oxygen in the Nasser Medical Complex,” the update said. In an earlier statement, the ministry said electrical generators had stopped and power was completely cut off from the complex. Hospital raid: Israeli special forces raided Nasser Hospital, Gaza’s largest functioning medical facility, on Thursday after laying siege to the facility for days. Spokesperson Daniel Hagari said Israeli forces had not found any hostages at Nasser Hospital so far, but were continuing to scan the facility.
Persons: Khan Younis, , , Daniel Hagari Organizations: Nasser, Nasser Hospital, Israel Defense Forces, Hamas Locations: Gaza, Khan
Abed Zagout/Anadolu/Getty ImagesThe Israeli military has not yet presented its plan to the government for the evacuation of Rafah, a spokesperson for the Israel Defense Forces (IDF) told CNN on Tuesday. Israeli Prime Minister Benjamin Netanyahu on Friday directed the IDF to plan for the “evacuation of the population” from Rafah, ahead of an anticipated ground assault on the southern Gaza city. "The government has instructed the IDF to devise a plan to achieve our goals, our war goals, in the area of Rafah," IDF spokesperson Lieutenant Colonel Peter Lerner told CNN's John Vause on Tuesday. Lerner said the military aims to create a plan that evacuates civilians "out of harm's way" and differentiates civilians from Hamas militants. We have confidence in our ability to differentiate and distinguish," he told Vause, admitting, however, that it comes "not without challenge."
Persons: Abed Zagout, Benjamin Netanyahu, Peter Lerner, CNN's John Vause, Lerner, Vause, We've Organizations: Getty, Israel Defense Forces, CNN, IDF Locations: Rafah, Gaza, Anadolu, Israel
This satellite image shows a makeshift tent city in Rafah. MaxarA makeshift tent city estimated to hold more than 1 million displaced Palestinian civilians is rapidly expanding in Rafah, southern Gaza, according to new satellite images from Maxar Technologies. Aid workers have raised concerns over any expanded Israeli military operation in Rafah as forces push south in their war with Hamas. More than half of the estimated 2.2 million people in Gaza are seeking refugee in the Rafah area, according to the United Nations Office for the Coordination of Humanitarian Affairs (OCHA). OCHA said Monday that refugees facing acute shortage of food, water, shelter and medicine are still pouring into Rafah as fighting worsens nearby.
Persons: OCHA Organizations: Maxar Technologies, United Nations Office, Humanitarian Affairs Locations: Rafah, Gaza
Live updates: The latest on the Israel-Hamas war
  + stars: | 2024-01-31 | by ( Amir Vera | Deva Lee | ) edition.cnn.com   time to read: +1 min
Tedros Ghebreyesus speaks to the media during a news conference at the Government Buildings in Dublin on December 18, 2023. Niall Carson/AP/FileThe World Health Organization (WHO) was able to reach Nasser Hospital in Khan Younis and "deliver essential medical supplies for 1000 patients" on Monday, WHO Director-General Tedros Ghebreyesus said. The vicinity around Nasser Hospital has seen frequent shelling and air strikes as the Israeli military says it is targeting operatives. A referral hospital is usually a major hospital that includes specialty and emergency care. Tedros said the incident "underscores the utter desperation of people in Gaza, who live in hellish conditions, including severe hunger."
Persons: Tedros Ghebreyesus, Niall Carson, Khan Younis, Nasser, Tedros Organizations: World Health Organization, WHO, Nasser Hospital Locations: Dublin, Khan, Nasser, Gaza
Live updates: Middle East war fears, UNRWA allegations
  + stars: | 2024-01-30 | by ( Deva Lee | ) edition.cnn.com   time to read: +1 min
Dozens of civilians were killed and wounded in Israeli airstrikes on Gaza City on Monday, according to the official Palestinian news agency WAFA. Witnesses said at least "25 civilians were killed" and others were injured in Israeli shelling of a family home in the al-Tuffah neighborhood east of Gaza City, the agency said. Earlier Monday, Zaanoun told CNN that Israeli forces had "invaded" Gaza City's Al-Rimal neighborhood “from multiple directions,” and were surrounding it, including Al-Shifa Hospital. "Ambulances are facing major difficulties in moving and operating due to artillery shelling and besiegement by Israeli forces," Zaanoun said. CNN has reached out to the Israeli military for comment.
Persons: WAFA, Witnesses, Khader Zaanoun, Zaanoun Organizations: CNN, Al, Shifa Locations: Gaza City, Tuffah, Gaza, Al
Investors hesitant to move back into China markets, UBS says
  + stars: | 2023-11-29 | 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 EmailInvestors hesitant to move back into China markets, UBS saysEva Lee, head of Greater China equities at UBS Global Wealth Management, said investors are still not fully sure of China markets due to structural issues.
Persons: Eva Lee Organizations: UBS, UBS Global Wealth Management Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeflation in China is only temporary and inflation will return in the fourth quarter: UBSEva Lee of UBS Global Wealth Management says slow-coming government stimulus will create short-term trading opportunitites in China markets.
Persons: UBS Eva Lee Organizations: UBS, UBS Global Wealth Management Locations: China
Over the past week, a host of Wall Street banks have turned increasingly bullish on the world's second-largest economy and have upgraded their outlook on Chinese stocks. Morgan Stanley expects China's GDP to grow by an "above-consensus" 5.4% in 2023, on the back of a "fast-tracked" reopening and more proactive policy easing. Meanwhile, UBS says Chinese stocks look increasingly attractive. How to play the reopening Against this backdrop, analysts have named a slew of both Chinese and global stocks they think will benefit most from China's reopening. Bank of America's domestic reopening beneficiaries include consumer stocks such as alcoholic beverage makers Kweichow Moutai and Tsingtao Brew , airline stocks including China Southern Airlines , as well as online travel platform Trip.com .
Underlining the bleak return prospects at home, hedge funds with Greater China strategies have lost 12.9% for the year to end-November - on track for their worst year since 2011, according to Eurekahedge data. Rich Chinese are also fretting about Xi Jinping's "common prosperity" drive to reduce income inequality, asset managers said, adding that they are looking at overseas private equity and property investment opportunities in countries like the United States and Japan. Although investing outside of mainland China is not a new development, a significant chunk of that wealth has usually been invested in Chinese assets such as Chinese securities listed in the offshore markets. The Boston-based asset manager has been receiving many queries from Greater China family offices to learn about U.S. economic policies and investment rules, he said. The U.S. consulate told Reuters that it frequently explains investment and economic trends in the United States to a wide variety of audiences.
Goldman Sachs forecasts 16% index returns for MSCI China (.dMICN00000PUS) and CSI300 (.CSI300) next year and recommends an overweight allocation to China, while J.P.Morgan expects a 10% potential upside in MSCI China in 2023. Morgan Stanley upgraded its recommendation to overweight on Monday with an increase in exposure to consumer stocks as reopening prospects improve. Bank of America Securities turned bullish in November, with its China equity strategist, Winnie Wu picking internet and financial stocks to lead the short-term rebound. "We have experienced several rounds of policy back and forth in 2022," she added, referring to both COVID and property policies. UBS Global Wealth Management recommends a market-neutral allocation to Chinese stocks.
We're neutral on Asia-Pacific stocks, UBS says
  + stars: | 2022-11-22 | 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 EmailWe're neutral on Asia-Pacific stocks, UBS saysEva Lee of UBS Global Wealth Management says it advises investors to stay with defensive names.
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