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☆ CNBC Daily Open: Stocks are entering the hottest period of the year
▼ + stars: | 2024-10-29 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Trump accuses Taiwan of stealing businessFormer U.S. President Donald Trump accused Taiwan of stealing the country's chip business, he said on "The Joe Rogan Experience" podcast. Bernstein analyst Stacy Rasgon told CNBC the idea of Taiwan stealing the U.S.'s chip industry is "ridiculous." [PRO] Tech might be in trouble, chart showsThe bursting of the 2000 dot-com bubble was one of the worst moments ever for tech stocks.

Persons: Thomas Schäfer, Trump, Donald Trump, Joe Rogan, Bernstein, Stacy Rasgon Organizations: CNBC, Big Tech, Philips, Volkswagen, U.S, New York Stock Exchange, bourse, Intercontinental Exchange, Tech, Wolfe Research Locations: New York City, China, Germany, Taiwan

☆ HSBC names Pam Kaur as first female CFO amid major restructuring
▼ + stars: | 2024-10-22 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

HSBC on Tuesday named veteran insider Pam Kaur as its first female finance chief and announced a consolidation of the bank into four business units. Kaur is set to assume her post on Jan. 1, according to regulatory filings with the Hong Kong bourse, taking over from interim Chief Financial Officer Jon Bingham. This is the second heavyweight leadership shakeup for HSBC in recent months, after former finance boss Georges Elhedery was named CEO of the group back in July. From January, it will operate through four divisions: Hong Kong, U.K., international wealth and premier banking, and corporate and institutional banking. The bank's new corporate and institutional banking unit will bring together its commercial banking business (outside of Hong Kong and the U.K.), global banking and markets business, and Western markets wholesale banking operations.

Persons: Pam Kaur, Kaur, Jon Bingham, shakeup, Georges Elhedery, Elhedery Organizations: HSBC, Tuesday, Hong, Hong Kong bourse Locations: Hong Kong, U.K

☆ Investors should take China ‘very seriously,’ fund manager says, naming a stock to start with
▼ + stars: | 2024-10-11 | by ( Nicole Teo | ) www.cnbc.com time to read: +4 min

With all eyes on China right now, one fund manager is bullish on the country regardless of any "bazooka" stimulus measures, saying investors should be getting involved. Starting on Sept. 24, China announced a string of stimulus measures aimed at boosting China's economy . Stephen Roach, for example, former chief economist at Morgan Stanley, warned investors against being too swept up in the China market rally . 'Starting point' For those looking to invest in China, Glass said a good "starting point" was Midea Group , which makes appliances and industrial robots. Analysts' average price target is 4.49 Hong Kong dollars, which gives the stock almost 30% potential downside from its current price around 6.40 Hong Kong dollars.

Persons: Steven Glass, Glass, hasn't, CNBC's, Stephen Roach, Morgan Stanley, Midea Organizations: Sydney, Pella Funds, Investors, National Development, CSI, HSBC, Generations Fund, Midea Group, China Equity, Hong, Garden Services Holdings Locations: China, Pella, Hong Kong, Shenzhen, U.S, Hong

☆ Beyond Novo: Fund manager likes this under-the-radar pharma stock with a weight loss drug in the works
▼ + stars: | 2024-10-04 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

"Maybe that weight loss product (by United Laboratories) works, maybe it doesn't. United Laboratories' price-to-earnings of 5.8 times is a fraction of the 34.3 times that Novo Nordisk is trading at, Peche added. [United Laboratories] is making smooth progress in R & D and targets to launch Liraglutide in 2024. Their comments follow United Laboratories' "faster than expected earnings" growth in the first half of the year. Analysts' average price target on United Laboratories is 12.95 Hong Kong dollars, giving it 28.2% potential upside.

Persons: Sean Peche, it's, Peche, there's, that's, Eli Lilly, Amgen, Carol Dou, Sunny Chen, UOB Kay Hian, bode Organizations: Novo Nordisk, Ranmore Fund Management, United Laboratories, Pfizer, AstraZeneca, Global Equity Fund, Hong, Hong Kong bourse, HK Locations: Hong Kong, Novo, Europe, U.S

☆ China securities official expected to lead Shenzhen stock exchange, Reuters reports
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: +2 min

A woman walks by the gate of the Shenzhen Stock Exchange on Aug. 20, 2020 in Shenzhen, Guangdong Province of China. VCG | Visual China Group | Getty ImagesChina is expected to appoint a senior securities official to head its second-largest bourse, four sources said, filling a role that has been vacant for the unusually long period of seven months as the securities regulator reshuffled its leadership. Li Jizun, a civil servant who is now director of the general office at the China Securities Regulatory Commission (CSRC), is set to become general manager of the 27-trillion-yuan ($3.73-trillion) Shenzhen Stock Exchange, the sources said. The CSRC and the Shenzhen exchange did not immediately respond to a faxed request for comment. Sha had worked at the securities regulator for more than two decades before taking over at the Shenzhen exchange in mid-2020, after her predecessor Wang Jianjun was promoted to the party chief role before returning to the regulator as a vice chairman.

Persons: Li Jizun, Li, Sha Yan, Sha, Wang Jianjun Organizations: Shenzhen Stock Exchange, Visual China, Getty, bourse, China Securities Regulatory Commission, State Council, Shanghai's Nasdaq, Communist Party Locations: Shenzhen, Guangdong Province of China, China, Beijing, U.S

☆ Sanctions-hit Russia is rushing to set up payment systems, including crypto, to make trading easier
▼ + stars: | 2024-07-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewRussia is stepping up sanctions-evading measures to keep its international trade flowing. Russian central bank governor Elvira Nabiullina said the first transactions are expected by the end of this year, per Reuters. An existing ban on crypto payments in Russia remains, but Moscow's greenlighting crypto for international trade marks a significant shift. Russia could be eying a digital-currency-based settlement systemIt isn't clear how Russia's crypto and digital currency regimes will shape up. Even China, which has one of the world's most advanced digital currencies, relies on a "two-tier" system involving banks as wallet-holding agents.

Persons: —, Elvira Nabiullina, Nabiullina, Vladimir Putin, Moscow hasn't, Christopher Granville, Granville Organizations: Service, Russia's, Duma —, Reuters, Business, Bloomberg, US Treasury, GlobalData, Lombard, Russia Locations: Russian, Russia, Ukraine, cryptocurrencies, Hong Kong, Moscow, China, UAE, Turkey, Austria, India

☆ China's trade with Russia is getting so difficult that payments can take half a year and most bank transfers are returned
▼ + stars: | 2024-07-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Trade between Russia and China is getting ever more difficult, with some payments between partners taking up to half a year, the Kommersant business daily reported on Monday. AdvertisementThe troubles started in December when the US authorized secondary sanctions targeting financial institutions that help Russia skirt sanctions. This prompted global banks from China to the UAE, Turkey, and Austria to reduce transactions with Russia to avoid getting in the crosshairs. Related storiesTo force Russia to halt its war, West blocked some Russian banks from the widely used SWIFT messaging system for payments early in the conflict. The continued business activity between the two countries sent trade between Russia and China to a record $240 billion last year.

Persons: —, China's, Moscow's, Andrei Kostin, Russia's Organizations: Kommersant, Service, Business, Bloomberg, US Treasury, Russia, VTB Bank Locations: Russia, China, UAE, Turkey, Austria, Moscow, Ukraine, Beijing, Russian, Hong Kong

☆ French Stocks Tumble to Worst Week in Two Years Over Election Fears
▼ + stars: | 2024-06-14 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

A growing realization that President Emmanuel Macron’s decision to hold snap elections in France may backfire sent the French stock market tumbling on Friday to its lowest level in two years, and prompted warnings from the French finance minister that the economy risks stumbling into a financial crisis. Amid growing signs that Marine Le Pen’s far-right party may be ushered to the brink of power, France’s benchmark stock index, the CAC 40, slumped 2.7 percent. The losses capped a weeklong losing streak that sent shares down more than 6 percent, wiping out all the bourse’s gains since the start of the year. Among the hardest hit stocks were France’s biggest banks, including BNP Paribas and Société Générale, which hold hefty amounts of French sovereign debt. Equally worrisome, the risk premium that investors demand to hold French government bonds over Germany’s, a eurozone benchmark, rose to the highest since 2017, the biggest weekly jump since 2012, when the euro debt crisis was underway.

Persons: Emmanuel Macron’s, Société Organizations: CAC, BNP Locations: France

☆ CNBC's Inside India newsletter: IPO boom looks to break new records
▼ + stars: | 2024-06-13 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

The spotlight has seemingly shifted in the past year toward companies going to market, hoping to ride on the coattails of India's growth story. Growing foreign listingsThe allure of India's stock markets has trickled to companies beyond its shores — with foreign entities eyeing a share of its growth. Such listings add strength to India's markets, says M&G Investment's Asian Equities Portfolio Manager Vikas Pershad. The optimism on India's IPO boom is sometimes marred by concerns over elevated valuations of its stock market — and whether it is headed toward a bubble. "When we look at India, we see continued economic and earnings per share growth and higher levels of profitability," Dorson from Global X told CNBC's Inside India.

Persons: Swiggy, Debarchan Chatterjee, Neil Bahal, Dhruba Jyoti Sengupta, Ola, PhonePe, Ola Electric, Sengupta, Vikas Pershad, Malcolm Dorson, CNBC's Organizations: Getty, Reliance Industries, Adani Enterprises, Mankind Pharma, Negen, Securities, Exchange Board, Wrise Private, Aakash Educational Services, Aakash Educational, Walmart, United Arab, Hyundai, Insurance Corporation of India, Maruti Suzuki, Hindustan Unilever, Siemens, ABB India, Global Locations: Kolkata, India, SEBI, United Arab Emirates, Sri Lanka, Hyundai India, India's, Maruti Suzuki India, Hindustan

☆ Computing firm Raspberry Pi to raise $211 million in rare London tech IPO
▼ + stars: | 2024-06-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Raspberry Pi, which makes tiny single-board computers priced its shares at 280 pence apiece. The Raspberry Pi offering comprises 45.9 million ordinary shares sold by the company's existing majority shareholder, Raspberry Pi Mid Co Limited, a wholly owned subsidiary of the Raspberry Pi Foundation. It also includes 2.13 million ordinary shares sold by other shareholders, along with 11.23 million freshly issued shares. If there is more demand, a so-called overallotement option will allow the Raspberry Pi Foundation to issue another 4.6 million shares. In 2023, Raspberry Pi posted revenues of $265.8 million, up 41% year-on-year from 2022.

Persons: Raspberry, Eben Upton, Raspberry Pi Organizations: London bourse, Sony, Sony Semiconductor Solutions, Sony Corporation, Pi, LSE, Retail, Co, Pi Foundation Locations: Europe, U.S, British

☆ Macron’s Call for Elections in France Adds to Fears of Financial Woes
▼ + stars: | 2024-06-11 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

Investors made clear on Tuesday the depth of their concerns over President Emmanuel Macron’s gamble to call for new elections in France, driving up the nation’s borrowing costs, pushing down stock prices and prompting the Moody’s ratings agency to warn it may downgrade French sovereign debt as risks of political instability rise. Mr. Macron’s dissolution of the lower house of Parliament on Sunday after his party was battered by Marine Le Pen’s far-right party in European Parliament elections has ignited concerns that the government could grind to a stalemate. The turmoil has focused attention on France’s fragile finances, and the prospect of legislative gridlock that could undermine the government’s ability to address it. “This decision will not ease the economic challenges facing the country,” Philippe Ledent, senior economist at ING Bank, wrote in a note to clients. Public finances and the performance of the French economy will be “at the heart of the electoral campaign,” he added.

Persons: Emmanuel Macron’s, Le, ” Philippe Ledent, ”, Macron Organizations: ING Bank, Public, Paris Bourse Locations: France, Paris

☆ Hong Kong will reportedly stop halting stock markets during typhoons and severe weather
▼ + stars: | 2024-06-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

8 storm signal raised for Super Typhoon Saola in Hong Kong, China, on Sept. 1, 2023. Hong Kong will no longer shut down its stock market during severe weather conditions, according to a Bloomberg report citing people familiar with the matter. The Hong Kong exchange typically halts trading when a typhoon signal or a so-called "black rainstorm warning" is issued. The previous CEO of Hong Kong Exchanges and Clearing, Nicolas Aguzin, told CNBC in 2022 that the bourse was reviewing that protocol. The Hong Kong exchange is expected to announce the proposed framework in the next few weeks, according to the people who spoke to Bloomberg.

Persons: Nicolas Aguzin Organizations: Super, Bloomberg, Hong, Hong Kong Exchanges, CNBC, bourse Locations: Hong Kong, China

☆ Indian stocks have worst day in 4 years as Modi’s hopes of a huge majority fade
▼ + stars: | 2024-06-04 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN —Indian stocks plunged Tuesday as vote counting in the country’s election suggested Prime Minister Narendra Modi’s dream of a landslide victory is at risk, raising doubts about his ability to push through more aggressive economic reforms. India’s benchmark Sensex index, which tracks 30 large companies, and the broader Nifty 50 index each closed down by nearly 6%. The worst daily drop for Indian stocks since 2020 came just 24 hours after both indexes hit record highs as weekend exit polls prompted experts to predict a resounding victory for Modi. The 73-year-old ran on his economic record over the past 10 years, a period of robust growth for India. But investors have complained about the high price of Indian stocks and some analysts believe a correction could be healthy for markets.

Persons: Narendra Modi’s, Modi, India’s, ”, Yashovardhan Khemka, Manish Jain Organizations: New, New Delhi CNN, Bharatiya Janata Party, BJP, Research, Analytics, Abans Holdings, National Stock Exchange of India, Shenzhen Stock Exchange, Hong Kong Exchange, bourse, World Federation of Exchanges, Mirae Locations: New Delhi, India, Mumbai, United States, China

☆ Sensex, Nifty 50: Indian stocks hit record highs as markets hope for a big Modi election win
▼ + stars: | 2024-06-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

New Delhi CNN —Indian markets hit record highs on Monday as experts predicted a resounding victory for incumbent Prime Minister Narendra Modi in national elections. India’s benchmark Sensex index, which tracks 30 large companies, and the broader Nifty 50 index each jumped over 3% in early trade. The 73-year-old ran on his economic record over the past 10 years, a period of robust growth for India. “With the exit polls pointing towards 370 seats mark and ahead of street expectations of 320-350 seats, markets have reacted positively,” said Manish Chowdhury, head of research at brokerage StoxBox. The country’s stock markets have performed well during his tenure.

Persons: Narendra Modi, ” Modi, India’s, ”, Manish Chowdhury, Modi, Adani, Gautam Adani, Mukesh Ambani, Ambani, Hindenburg’s Organizations: New, New Delhi CNN, Adani, Adani Enterprises, Reliance Industries, Bloomberg, Modi, Hindenburg, National Stock Exchange of India, Shenzhen Stock Exchange, Hong Kong Exchange, bourse, World Federation of Exchanges Locations: New Delhi, India, United States, China, American

☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
▼ + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com time to read: +9 min

New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.

Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP

☆ Investor Tribeca presents Glencore with ideas to raise shareholder value – How it may unfold
▼ + stars: | 2024-03-30 | by ( Kenneth Squire | ) www.cnbc.com time to read: +10 min

Tribeca has been a shareholder of Glencore for seven years and has been engaging with management for a year. The company has excellent core asset quality in copper, zinc and coal, as well as a world-leading commodity trading business. Notably, Bluebell Capital Partners agitated for a demerger of Glencore's thermal coal business in 2021. However, in 2023, after acquiring a 77% interest in Teck's steelmaking coal business, Glencore stated its intention to demerge its combined coal and carbon steel businesses. The same can be said for the divestment of the trading business.

Persons: Glencore, David Aylward, Gary Nagle, astutely, Berkshire Hathaway, Ivan Glasenberg, Ken Squire Organizations: Glencore, Tribeca Investment Partners, Tribeca, Financial Times, Australian Securities Exchange, London Stock Exchange, BHP, Rio Tinto, Bluebell Capital Partners, LSE, Rio, NYSE, 13D Locations: Switzerland, Australia, Africa, South America, Sydney, Melbourne, Singapore, London, Tribeca, Glencore, Swiss, Rio, Europe, cyclicality, Berkshire

☆ Popularity of listing in U.S. is a problem for London — not Europe, says Euronext CEO
▼ + stars: | 2024-03-14 | 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 EmailPopularity of listing in U.S. is a problem for London — not Europe, says Euronext CEOStéphane Boujnah, CEO of pan-European bourse Euronext, discusses the region's IPO pipeline and explains how it is attempting to overcome challenges caused by European fragmentation.

Persons: Stéphane Boujnah Organizations: London, bourse Euronext Locations: Europe

☆ Hong Kong scraps decade-old property restrictions to boost flagging economy
▼ + stars: | 2024-02-28 | by ( Laura He | ) edition.cnn.com time to read: +3 min

These taxes had been introduced as early as 2010 to cool the city’s once red-hot property market, a pillar of the economy. Real estate and related industries play a key role in Hong Kong’s economy, accounting for as much as a fifth of the city’s gross domestic product (GDP). Hong Kong’s economy has struggled to regain momentum since it reopened after more than two years of self-imposed Covid isolation. Hong Kong’s stock market, where many of China’s largest and most important companies are listed, has become less popular with international investors. Late last year, the city’s stock exchange was overtaken by the National Stock Exchange of India (NSE) as the world’s seven largest bourse.

Persons: Paul Chan, “, ” Chan, Chan Organizations: Hong Kong CNN, Hong Kong, National Stock Exchange of India, bourse Locations: China, Hong Kong, Hong Kong’s, Victoria Harbour, Hong, Beijing, Washington, Asia

☆ China tightens reins on quant trading after three-day ban on fund
▼ + stars: | 2024-02-21 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

China is tightening regulatory restrictions on its rapidly booming quant trading industry, after freezing the accounts of a major player in the sector for three days in a rare crackdown. The stock exchanges of key financial hubs Shanghai and Shenzhen issued notices late Tuesday announcing they will deepen their scrutiny of market trades conducted by quant funds — which use advanced computer-driven automated analysis and algorithms to catch opportunities in stocks and commodities — especially of leveraged quantitative products, according to separate Google-translated statements. The bourses will strengthen and expand the scope of reporting of such trades and improve the monitoring standards for "abnormal" transactions. The Shenzhen stock exchange also noted that "quantitative trading, especially high-frequency trading, has obvious technical, information and speed advantages over small and medium-sized investors." The announcements come after both exchanges implemented a three-day trading ban on one of China's largest quant funds, Lingjun Investment, which the Shanghai bourse accused of "affecting the security of the Exchange's system or normal trading order" with a flurry of transactions executed between 09:30 a.m. and 09:31 a.m. local time, according to a Google-translated statement.

Organizations: Lingjun, Shanghai bourse Locations: China, Shanghai, Shenzhen

☆ Nikkei briefly breaches 38,000 for the first time since 1990 as it rallies 3%, nears all-time high
▼ + stars: | 2024-02-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Signage for the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), displayed outside the bourse in Tokyo, in Tokyo, Japan, on Monday, Oct. 30, 2023. Photographer: Akio Kon/Bloomberg via Getty ImagesJapan's Nikkei 225 briefly crossed the 38,000 mark for the first time since the asset bubble burst in 1990 as it rallied about 3% and pushed 34-year highs. However, it was unable to sustain its run above 38,000 points, falling minutes before its close to end at 37,963.97, while the Topix climbed 2.12% to 2,612.03, also at a 34-year high. Other Asia-Pacific markets mostly rose as more markets return to trade from the Lunar New Year holiday, including South Korea and Singapore. Japan's corporate goods price index rose 0.2% in January, beating the 0.1% expected by economists polled by Reuters.

Persons: Akio Kon Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, bourse, Bloomberg, Getty, Nikkei, Reuters Locations: Tokyo, Japan, Gaza, Asia, Pacific, South Korea, Singapore

☆ Hedge fund billionaire Bill Ackman and wife Neri Oxman buy nearly 5% stake in Tel Aviv Stock Exchange
▼ + stars: | 2024-01-24 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Hedge fund billionaire Bill Ackman and his wife Neri Oxman are buying a nearly 5% stake in the Tel Aviv Stock Exchange, the exchange reported in a press release Wednesday. The announcement came as the Israeli bourse announced the pricing of a secondary offering of 17,156,677 shares priced at 20.60 shekels ($5.50) per share. "The transaction drew robust interest from investors across Israel, the United States, Europe, and Australia, reflecting a strong vote of confidence in both the Tel Aviv Stock Exchange and the Israeli economy at large," the statement read. "Among the prominent buyers were Neri Oxman and Bill Ackman who have agreed to purchase approximately a 4.9% equity stake in the TASE." His wife, Neri Oxman, is an American-Israeli designer and professor.

Persons: Bill Ackman, Neri Oxman Organizations: Tel Aviv Stock Exchange, Israeli bourse, New, Pershing, Capital Management Locations: Israel, United States, Europe, Australia, New York, Gaza, American

☆ Bill Ackman buys stake in Tel Aviv’s stock exchange in ‘strong vote of confidence’ for Israeli economy
▼ + stars: | 2024-01-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Hedge fund billionaire Bill Ackman and his wife Neri Oxman are buying a stake in Tel Aviv’s stock market in what the exchange said Wednesday was a “strong vote of confidence” in Israel’s economy. The couple have agreed to buy a stake of nearly 5% in the Tel Aviv Stock Exchange (TASE), joining other buyers of around 17 million shares in total, the exchange said in a statement. But his latest investment suggests he is optimistic about the prospects for Israeli companies despite the country’s ongoing war against Hamas. The value of stocks listed on the exchange has swung wildly since October 7, the day Hamas launched its deadly attack on Israel. A report by Business Insider in early January alleged that Oxman had plagiarized parts of her doctoral dissertation.

Persons: Bill Ackman, Neri Oxman, Ackman, Claudine Gay, Gay, —, Oxman Organizations: London CNN —, Tel Aviv Stock Exchange, bourse, Pershing, Capital Management, Hamas, Harvard, Jewish, Business Locations: Tel Aviv’s, Israel, United States, Europe, Australia

☆ Tel Aviv bourse says no unusual trading ahead of Oct 7 Hamas attack
▼ + stars: | 2023-12-05 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

JERUSALEM, Dec 5 (Reuters) - The Tel Aviv Stock Exchange said on Tuesday that a report by U.S. researchers suggesting there were investors in Israel who may have profited from prior knowledge of Hamas' Oct. 7 attack was inaccurate and its publication irresponsible. "There was nothing unusual in short positions in the stock exchange in the two months before the attack." "The ISA's examinations found, inter-alia, that the average short balances for shares traded on the Tel-Aviv Stock Exchange declined during the period preceding October 7th," the regulator said in a statement. Their report said "short interest in the MSCI Israel Exchange Traded Fund (ETF) suddenly, and significantly, spiked" on Oct. 2, based on data from the Financial Industry Regulatory Authority (FINRA). He also said the short position in Leumi was taken by an unidentified Israeli bank known to the TASE.

Persons: Robert Jackson Jr, Joshua Mitts, Yaniv Pagot, Pagot, Mitts, Steven Scheer, Mark Potter, Leslie Adler Organizations: Tel Aviv Stock Exchange, U.S, New York University, Columbia University, Hamas, Reuters, Israel Securities Authority, Tel, Aviv Stock Exchange, ISA, Leumi, MSCI Israel, Fund, Financial Industry Regulatory Authority, Thomson Locations: Israel, Leumi, Israel's, agorot, MSCI

☆ World Building of the Year: Chinese boarding school receives 2023 architectural honor
▼ + stars: | 2023-12-01 | by ( Oscar Holland | ) edition.cnn.com time to read: +4 min

Singapore CNN —A Chinese boarding school designed to let students unwind and “waste time mindfully” has been named 2023’s World Building of the Year. Designed by Approach Design Studio and the Zhejiang University of Technology Engineering Design Group, the serene campus’ communal areas are intended to blur the distinction between inside and out. Courtesy Approach Design Studio/Zhejiang University of Technology Engineering Design GroupApproach Design Studio said that while teaching prioritizes efficiency, a school’s campus itself should inspire free thinking. The coveted World Building of the Year title is considered one of the architecture profession’s top accolades and is decided at the annual festival by a 140-strong expert panel. This year’s winning design was commended by judges for breaking with the conventions of school design.

Persons: ”, Di Ma, Paul Finch, —, ” Finch, WAF Organizations: Singapore CNN, Huizhen, School, Zhejiang University of Technology Engineering, Group, Newark Liberty International, Surat Diamond Bourse, Pentagon, Australia’s Locations: Singapore, Ningbo, Zhejiang, China, Melbourne, Cambodia, Senegal, Surat Diamond, Sylt, Germany, Europe, Winnipeg, Canada, Bangkok, Thailand

☆ Asia's first ETF tracking Saudi equities debuts in Hong Kong
▼ + stars: | 2023-11-29 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

Bull statues in front of screens showing Hong Kong stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsHONG KONG, Nov 29 (Reuters) - A new exchange-traded fund (ETF) tracking Saudi equities made its trading debut in Hong Kong on Wednesday, becoming the first product of its kind in Asia amid warming bilateral relations between China and Saudi Arabia. The ETF, called CSOP Saudi Arabia ETF (2830.HK), is managed by Hong Kong-based CSOP Asset Management. "Today is a milestone in our financial cooperation with Saudi Arabia," said Hong Kong Financial Secretary Paul Chan at a launch event. Through the ETF, investors in Hong Kong will be able to trade Saudi stocks including the oil giant Saudi Aramco (2222.SE) and the Saudi National Bank (1180.SE) in Hong Kong dollars or Chinese yuan.

Persons: Tyrone Siu, CSOP, Paul Chan, Yazeed, Humied, PIF, Xie Yu, Sumeet Chatterjee, Christopher Cushing Organizations: REUTERS, Saudi, Saudi Arabia ETF, HK, Management, Public Investment Fund, Hong, Hong Kong Financial, FTSE, Saudi Aramco, Saudi National Bank, Reuters, Hong Kong Stock Exchange, bourse, ETF, People's Bank of China, Saudi Central Bank, Thomson Locations: Hong Kong, Exchange, China, HONG KONG, Asia, Saudi Arabia, Saudi, FTSE Saudi Arabia, Europe, East, Africa, Beijing, Riyadh

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