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REUTERS/Thomas White/Illustration Acquire Licensing RightsMUMBAI, Sept 22 (Reuters) - Indian bond markets won't see a jump in volatility in the near-term after JPMorgan (JPM.N) announced India's inclusion in its widely tracked emerging market debt index, BlackRock's head of Asia Pacific fixed income said on Friday. JPMorgan said 23 Indian Government Bonds (IGBs) with a combined notional value of $330 billion were eligible for inclusion in its Government Bond Index-Emerging Markets (GBI-EM) index and index suite, benchmarked by about $236 billion in global funds. Given the size of the $2 trillion global government bond market, it may add only a little bit to the volatility in Indian bond markets, Seth told the Reuters Global Markets Forum. Foreign investor buying in Indian bonds has remained tepid with net purchases of $3.4 billion so far in 2023. He also pointed to investment-grade credit in Asia and higher quality emerging market bonds, in a "tilt towards quality" as macro uncertainties persist.

Persons: Thomas White, Neeraj Seth, Seth, Divya Chowdhury, Savio Shetty, Alex Richardson Organizations: REUTERS, Rights, JPMorgan, Asia Pacific, Government, BlackRock, Reuters Global Markets, Thomson Locations: India, Rights MUMBAI, Asia, Mumbai

☆ Sunac China files for Chapter 15 bankruptcy protection
▼ + stars: | 2023-09-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —One of China’s leading property developers, Sunac, has filed for bankruptcy protection in the United States, shortly after winning approval from its creditors to restructure nearly $10 billion worth of debt. The company filed a petition for Chapter 15 protection with the US Bankruptcy Court for the Southern District of New York on Tuesday. It’s the second big distressed Chinese developer in weeks to seek such protection: Evergrande made a Chapter 15 filing in the United States a month ago, after posting losses of $81 billion in the last two years. Entering the process may help Sunac China negotiate with overseas lenders as it works to overhaul its debt. “While Evergrande is still struggling to get their offshore creditors on board, Sunac has really overtaken them,” she said.

Persons: It’s, Evergrande, Sunac, Sandra Chow, it’s, Chow, ”, —, ” Chow, “, Andy Rose Organizations: Hong Kong CNN, US, Court, Southern, of, Asia, CNN, Evergrande Locations: China, Hong Kong, United States, of New York

☆ Asia stocks slip, dollar firms on growth concerns, Fed outlook
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after faltering growth in China and Europe heightened concerns about global economic momentum, while the dollar firmed as investors weighed the outlook for Federal Reserve interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) dipped 0.45%. "The China decline was bigger than expected," said Redmond Wong, Greater China market strategist at Saxo Markets. Manufacturing data from Germany, Britain and the euro zone also showed declines, while their service sectors fell into contraction. "The Europe data were rather weak.

Persons: Androniki, HSI, Redmond Wong, Wong, Australia's, Christopher Waller, John Milroy, Ord Minnett, Brent, Kane Wu, Edmund Klamann, Sam Holmes Organizations: REUTERS, Federal Reserve, Saxo Markets, Nikkei, U.S, BlackRock Investment Institute, Institute for Supply Management, PMI, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, London, U.S, 0520GMT, Asia Pacific, Greater China, Germany, Britain, BlackRock, ., Saudi Arabia, Russia

☆ Asia stocks fall as global growth concerns mount
▼ + stars: | 2023-09-06 | by ( Kane Wu | ) www.reuters.com time to read: +2 min

REUTERS/Androniki Christodoulou/File Photo Acquire Licensing RightsHONG KONG, Sept 6 (Reuters) - Asia stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for U.S. interest rates. MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was down 0.5% at 0143GMT. The Hang Seng Index (.HSI) and China's benchmark CSI300 Index (.CSI300) both opened down about 0.3%. Shares in Europe and the U.S. fell on Tuesday over concerns about weak global growth. (This story has been refiled to correct the Reuters Instrument Code of the Hang Seng Index in paragraph 4)Reporting by Kane Wu; Editing by Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.

Persons: Androniki, Australia's, Redmond Wong, Christopher Waller, John Milroy, Ord, Brent, Kane Wu, Edmund Klamann Organizations: REUTERS, Saxo Markets, U.S, Reuters, Thomson Locations: Tokyo, Japan, HONG KONG, Asia, China, Europe, Asia Pacific, 0143GMT, Germany, Britain, Greater China, U.S, Ord Minnett .

☆ Asia stocks fall as weak China data weigh
▼ + stars: | 2023-08-16 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

China reported weaker than expected July activity data Tuesday, accompanied by news that Beijing would no longer publish youth unemployment data. Wong said he was most concerned about month-to-month decline of China's retail sales and weak infrastructure investments, which suggested lack of funding from local governments. China's industrial output and retail sales growth both slowed from a month earlier to a year-on-year pace of 3.7% and 2.5% respectively, missing expectations. If the decline begins to accelerate, it will feed back on weaker consumer confidence and weigh on already feeble retail sales growth. All three major U.S. equity indexes ended Tuesday lower, after a stronger-than-expected report on U.S. retail sales data.

Persons: Issei Kato, HONG KONG, Australia's, Redmond Wong, Wong, Hang, John Milroy, Ord Minnett, Tina Teng, Ord Minnett's Milroy, Brent, Kane Wu, Lincoln Organizations: REUTERS, Japan's Nikkei, Saxo Markets, Dow Jones, Nasdaq, Fed, New Zealand, CMC, Canada, BHP, Thomson Locations: Tokyo, Japan, HONG, Asia, Asia Pacific, China, Beijing, Greater China, Wedneday

☆ China's real estate market roiled by default fears again
▼ + stars: | 2023-08-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Qilai Shen | Bloomberg | Getty ImagesBEIJING — Two years after Evergrande's debt troubles, worries about China's real estate sector are coming to the forefront again. In late July, its top leaders indicated a shift toward greater support for the real estate sector, paving the way for local governments to implement specific policies. For the last several years, Chinese authorities have attempted to curb debt-fueled speculation in the country's massive — and hot — real estate market. Real estate and related industries have accounted for about a quarter of China's economy. He pointed out that since China started its deleveraging campaign in 2016, it is very unlikely the state would step in to bail out real estate developers.

Persons: Qilai Shen, Dalian Wanda, Liu Haibo, Sandra Chow, Nomura, Chow, Evergrande, Redmond Wong, —, Wong, Vanke, that's Organizations: Country Garden Holdings Co, Bloomberg, Getty, BEIJING, Reuters, CNBC, Country, Asia Pacific Research, CreditSights, Fitch, Saxo Markets Hong, China's, House Research, Stock, Poly Development, Research Locations: Baoding, Hebei province, China, Dalian, Hong Kong, Beijing, Saxo Markets Hong Kong

☆ Stocks fall, Treasuries gain after Fitch downgrades US rating
▼ + stars: | 2023-08-02 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

REUTERS/Kim Kyung-Hoon/file photoHONG KONG, Aug 2 (Reuters) - Asian stocks traded lower while U.S. Treasury yields declined on Wednesday, after ratings agency Fitch unexpectedly downgraded the United States' top-tier sovereign credit rating. Asian stocks were also weighed by declines on Wall Street overnight. Fitch cut the United States by one notch to AA+ from AAA, citing fiscal deterioration, a decision announced after the Wall Street close on Tuesday. U.S. 10-year Treasury yields declined by about 2 basis points to 4.025% in Tokyo. The United States publishes fresh data on jobless claims and unemployment later this week.

Persons: Kim Kyung, Fitch, Hong Kong's, HSI, Manishi Raychaudhuri, counterintuitively, Steven Ricchiuto, Brent, Xie Yu, Sam Holmes Organizations: REUTERS, U.S, Treasury, United, Japan's Nikkei, AAA, Asia, BNP Paribas, Standard, U.S ., Mizuho Securities, West Texas, Thomson Locations: Tokyo, Japan, HONG KONG, United States, Asia, ., U.S, China

Over the two trading days since, the market has tried to second-guess the pace at which the BOJ wants yields to move, while the BOJ has run special bond-buying operations to cap yields. "There is only a very, very small possibility of a sudden or very steep rise in JGB yields, because too many people want to buy the bonds. The maximum yield investors demanded was 0.6%, just 10 basis points (bps) above the previous policy cap. The promise of an extra 10-20 bps of JGB yield means 10-year JGBs hedged from dollars into yen can yield upwards of 6%. As per BOJ data, lifers and pension funds held roughly 26% of a 1,132 trillion yen ($7.93 trillion) JGB market at the end of 2019.

Persons: It's, we've, Ales Koutny, Rong Ren Goh, BOJ, Tomoya Masanao, Masanao, Rae Wee, Tom Westbrook, Harry Robertson, Alun John, Vidya Ranganathan, Himani Sarkar Organizations: Bank of Japan, JGBs, Vanguard Asset Management, Eastspring Investments, Foreigners, U.S, Nippon Life, Asia Pacific, Thomson Locations: SINGAPORE, TOKYO, United States, Europe, Singapore, JGBs, Belgian, Japan, PIMCO, Sydney, London

☆ The number of partners to leave Goldman Sachs since David Solomon took over as CEO just hit 90
▼ + stars: | 2023-08-01 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +5 min

It's been a busy summer for Goldman Sachs' partner departures. Two more farewell memos went out on Tuesday, including for Lisa Opoku and David Rusoff. Just weeks after reporting a 58% drop in profit, the Goldman Sachs CEO was hit with a wave of high-profile defections that bring the number of partners who have left under Solomon to 90. Opoku worked as global head of the Goldman Sachs Partner Family Office, which oversees the firm's wealth management offerings for current and retired Goldman Sachs partners, managing directors, and alumni. In her current role, Lisa oversees the firm's wealth management offerings for current and retired Goldman Sachs partners, managing directors and alumni.

Persons: It's, Goldman Sachs, Lisa Opoku, David Rusoff, Julian Salisbury, Takashi Murata, David Solomon, Solomon, Goldman, — Lisa Opoku, David Rusoff —, pare, Tammy Kiely, Frederick Baba, Dina Powell McCormick, Opoku, Marc Nachmann, Kathryn Ruemmler, Rusoff, Ken Griffin's, Peng Zhao, David Thomas, Goldman's, Thomas, Shawn Fagan, Lisa Organizations: Asia Pacific, Global Banking, Markets, Citadel Securities, Citadel, Engineering, Securities Division, Commodities Bank, Black Network, Advisors, Black Economic Alliance, Firmwide Locations: Hong Kong, Asia, New York, London, Americas

☆ Morning Bid: Will August retain July's heat?
▼ + stars: | 2023-07-31 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

August 1 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets journalist. Asian stocks have closed the books on a July that ran fairly hot, and not just with respect to temperatures. On Tuesday, Australia's central bank is expected to follow in the footsteps of its global peers by hiking its policy rate by 25 basis points. Both reports should provide further clarity on the effects of the Federal Reserve's restrictive monetary policy on the world's largest economy. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Stephen Culp, Wall, Deepa Babington Organizations: CSI, Asia Pacific, Nikkei, China PMI, Bank of Japan's, Caterpillar, Institute for Supply, Labor, Reserve Bank of, Global, PMI, Thomson, Reuters Locations: Japan, China, Australia's, United States, India, Korea

☆ Morning Bid: Asian markets face tough act to follow
▼ + stars: | 2023-07-30 | by ( ) www.reuters.com time to read: +3 min

NEW YORK, July 31 (Reuters) - A look at the day ahead in Asian markets from Stephen Culp, financial markets columnist. Chinese stocks face the challenge of topping last week's 4.5% gain in the CSI 300 (.CSI300), the index's biggest weekly jump since November. Market participants are also scrutinizing the other side of the Sea of Japan for signs of life in the Chinese economy. Potentially market-moving U.S. indicators next week include manufacturing and services PMI. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Stephen Culp, Diane Craft Organizations: YORK, Japan's, CSI, Nikkei, Asia Pacific, Bank of Japan, Apple Inc, Western Digital Corp, Caterpillar Inc, Starbucks Corp, Qualcomm Inc, Marriott International, MGM Resorts International, Hotels, Resorts, PMI, Thomson, Reuters Locations: China, Japan, Beijing, United States, Australia, Korea

☆ Julian Salisbury was once considered a contender for Goldman Sachs CEO. Now the asset and wealth management CIO is leaving.
▼ + stars: | 2023-07-28 | by ( Emmalyse Brownstein | Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

Now, Julian Salisbury is leaving Goldman Sachs after 25 years without a replacement. In a memo Friday, CEO David Solomon thanked Salisbury, chief investment officer of the bank's asset and wealth management division, for his "contributions to Goldman Sachs, our clients and our people." Also leaving the bank is Takashi Murata, co-head of Asia Pacific private investing and global co-head of real estate within Goldman Sachs' asset management unit. Nachmann's memo said Richard Spencer will become EMEA head of Real Estate and Nikhil Reddy will become Asia Pacific head of Real Estate. That's part of the virtuous ecosystem of Goldman Sachs," he added.

Persons: Julian Salisbury, Goldman, Goldman Sachs, David Solomon, Salisbury, Marc Nachmann, Takashi Murata, Jim Garman, Nachmann, Richard Spencer, Nikhil Reddy, Richard, Nikhil, Murata, Solomon Organizations: Goldman, Management, GS, Sixth, Wall Street, Asia Pacific, EMEA Locations: Salisbury, Asia Pacific

☆ China’s property market is finding a new normal: podcast
▼ + stars: | 2023-07-25 | by ( Yawen Chen | ) www.reuters.com time to read: 1 min

LONDON, July 25 (Reuters Breakingviews) - Slower growth is not necessarily bad. In this Exchange podcast, Cara Li, Head of Asia Pacific Real Estate Investment Banking at Morgan Stanley, says the debt-fuelled engine of the world’s second largest economy is maturing and outlines the benefits of consolidation. Listen to the podcastFollow @ywchen1 on TwitterSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Thomas ShumOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Cara Li, Morgan Stanley, Thomas Shum Organizations: Reuters, of Asia Pacific Real Estate Investment, Twitter, Thomson

☆ Evergrande's overdue results to show steep losses, market eyes liquidity update
▼ + stars: | 2023-07-17 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

The developer defaulted in late 2021 and has been struggling to complete projects and repay its many suppliers and creditors. After announcing an offshore debt restructuring plan in March, it is now garnering support to complete the process. Charles Macgregor, head of Asia of Lucror Analytics, said he was not optimistic about Evergrande's results. Analysts expect Evergrande to post steep losses for 2021 and 2022, years in which its contracted sales fell to 443 billion yuan and 31.7 billion yuan respectively, versus 723 billion yuan in 2020. Evergrande's shares listed in Hong Kong have been halted from trading since March 21 last year, pending the financial results and an investigation into a 13.4 billion yuan of seized deposits of a unit.

Persons: Sandra Chow, Charles Macgregor, Evergrande, Clare Jim, Himani Sarkar Organizations: China Evergrande, HK, Asia, Lucror, Thomson Locations: HONG KONG, China, China's, Asia, Hong Kong

That initiative follows a visit to Japan by NATO Secretary General Jens Stoltenberg in January when he said the lessons China was learning from Ukraine could influence its decisions. NATO documents have begun to reflect concern about China, East Asia and the Indo-Pacific, but Japan needs to deepen its awareness of those issues, a Japanese official involved in discussions about NATO ties said. Diplomats from two European NATO countries who spoke to Reuters said unease in the alliance about a Tokyo office went beyond France. Another Japanese official involved in preparations for Kishida's NATO visit said the idea of a NATO office in Japan had nothing to do with China, but that is how it became framed, and each NATO country has its own relations with China. Under Yoon, South Korea has set up a liaison office with NATO in Brussels and has embraced a call for unity among like-minded countries.

Persons: Fumio Kishida, ”, Michito Tsuruoka, Kishida, Jens Stoltenberg, Emmanuel Macron's, Yoon Suk Yeol, Yoon, Anthony Albanese, We’ll, Albanese, Sakura Murakami, Tim Kelly, John Irish, Josh Smith, Praveen Menon Organizations: NATO, Atlantic Treaty Organization, Keio University, NATO's, Diplomats, Reuters, Japanese, SYDNEY South, Australian, Asia Pacific, Ukraine, Sky News, Thomson Locations: TOKYO, Lithuania, Ukraine, Asia, Japan, South Korea, Australia, New Zealand, U.S, Europe, Russia, NATO, East Asia, China, Taiwan, North Korea, Lithuania's, Vilnius, Tokyo, France, Brussels, Danish, SEOUL, Poland, Paris, Seoul, Sydney

☆ Goldman's list of top picks to buy right now includes these 6 Asian stocks
▼ + stars: | 2023-07-05 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Goldman Sachs is positive on a number of Asian markets right now, despite what it expects to be a "subdued" third quarter of the year. He told CNBC's "Street Signs Asia" last week that he's positive on Japan, Korea and China in particular. Goldman expects 24% earnings-per-share growth over the next three years, driving its prediction that Japan's Topix index will reach 2,500, a nearly 8% increase from Monday's close. In South Korea, Goldman expects a profit recovery driven by a "positive inflection" in DRAM pricing. The following six stocks all appeared on the screen and are on Goldman's conviction list of top buy-rated stocks:

Persons: Goldman Sachs, Sunil Koul, CNBC's, Koul, there's, Goldman Organizations: Asia Pacific, Nikkei, Shenzhen Component Locations: Japan, Korea, China, Shanghai, Shenzhen, South Korea, Asia, Pacific

LONDON/HONG KONG, July 4 (Reuters) - Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. Earlier in the session, Australia's central bank held interest rates steady at 4.1%, saying it needed time to assess the economic impact of its rate hikes so far. Complicating the outlook for inflation, oil prices rose on Tuesday as markets weighed supply cuts for August by top producers Saudi Arabia and Russia. Brent crude futures climbed 0.6% to $75.09 a barrel, with West Texas Intermediate crude adding the same amount to $70.23. "At least the improved supply-demand imbalance seems to be having an effect on price pressures," Capital Economics global economist Ariane Curtis said.

Persons: Europe's, Brent, Ariane Curtis, Curtis, Manishi Raychaudhuri, Raychaudhuri, Schatz, Paul Volcker, Ankur Banerjee, Sam Holmes, Himani Sarkar, Alex Richardson Organizations: U.S . Federal Reserve, Wall, West Texas, Institute of Supply Management, Economics, Asia, BNP Paribas, Treasury, Independence, U.S, Fed, Thomson Locations: HONG KONG, Saudi Arabia, Russia, U.S, Singapore

☆ Stocks dip, dollar steadies as investors seek rates clarity
▼ + stars: | 2023-07-04 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.1%, by Tuesday mid-morning. Japan's Nikkei share average (.N225) fell 1.1% as investors exited some bullish positions after the benchmark index closed at a 33-year high in the previous session. Geopolitical tensions also persist, he noted, with China's export controls on minerals adding more uncertainty around global trade relations. In the currency market, the dollar index , which tracks the greenback against six major peers, rose slightly to 102.97. The Treasury market is shut Tuesday for Independence Day.

Persons: Manishi Raychaudhuri, Raychaudhuri, Paul Volcker, Sam Holmes Organizations: U.S ., U.S, Independence, Wall, Nikkei, Treasury, Federal, Asia, BNP Paribas, Brent, . West Texas, Fed, Thomson Locations: HONG KONG, Asia, Pacific, Japan, Saudi Arabia, Russia, United States

☆ Goldman strategist says one country offers the 'most fertile ground for picking stocks' and shares his favorites
▼ + stars: | 2023-07-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

That's despite Indian stocks already soaring, with the country's benchmark indexes BSE Sensex and Nifty 50 soaring to new record highs on Friday, according to Refinitiv data. He said that Indian stocks have a 16% compound annual return over the last 20 years in local currency terms, and 13% in dollar terms. It also has a high proportion of what Goldman analysts dub "multibagger" stocks, according to Koul. Goldman Sach screened 25 large-cap Indian stocks for those with an attractive growth and valuation profile. Four banks meet its criteria: HDFC Bank , ICICI Bank , State Bank of India and Kotak Mahindra Bank.

Persons: Goldman Sachs, Sunil Koul, CNBC's, Koul, That's, Goldman, Banks, Goldman Sach, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Asia Pacific, CNBC, HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, U.S . Global, SBI, UltraTech, Growers Locations: India, U.S

☆ Asian stocks teeter as Russia, rates and China risks weigh
▼ + stars: | 2023-06-27 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

MSCI's gauge of Asia Pacific stocks outside Japan (.MIAPJ0000PUS) was up 0.08% at 0126 GMT, after dropping 0.06% an hour earlier. "Asian equities are set for a downturn on Tuesday, prompted by Wall Street's risk-aversion behavior," said Anderson Alves, a global macro analyst at ActivTrades. All three major U.S. stock indexes ended in the red on Monday, with megacap momentum stocks pulling the tech-heavy Nasdaq down the most. The Dow Jones Industrial Average (.DJI) fell 0.04%, the S&P 500 (.SPX) lost 0.45% and the Nasdaq Composite dropped 1.16%. Hang Seng Index (.HSI) and China's benchmark CSI300 Index (.CSI300) opened up 0.3% and 0.1%, respectively, shaking off losses from the past four sessions.

Persons: Wall, Anderson Alves, Alves, Goldman Sachs, Redmond Wong, Wong, Vladimir Putin's, Brent, Kane Wu, Sam Holmes Organizations: Nikkei, ActivTrades, Dow Jones, Nasdaq, U.S, Global, China, Saxo Markets, Treasury, Thomson Locations: HONG KONG, Russia, Asia Pacific, Japan, Europe, U.S, ActivTrades, Asia

SYDNEY/SINGAPORE, June 20 (Reuters) - Asia's dealmakers are counting on a pause in rate hikes globally and an economic rebound in China to rekindle activity in the region's equity capital markets, after volumes in the first half of the year sank to their lowest in four years. First-half Asia Pacific equity capital markets volumes dropped 16% to $117.2 billion from the same period in 2022, including a 34% drop in initial public offerings (IPOs) to $34.3 billion, Refinitiv data showed. "For investor sentiment to return for IPOs we need to see a more stable interest rate environment in the U.S., more economic stimulus from China and an improving geopolitical backdrop," said Cathy Zhang, head of Asia Pacific equity capital markets at Morgan Stanley. "We are hoping to see more IPO activity in the second half and starting to see some green shoots in the U.S. and Europe," said Udhay Furtado, Citigroup's co-head of Asia equity capital markets. As bankers scan their pipeline of IPO candidates for the second half, larger transactions in the region are being favoured to help kick-start activity.

Persons: Goldman Sachs, Cathy Zhang, Morgan Stanley, Udhay Furtado, Citigroup's, Sunil Dhupelia, JPMorgan's, China's JD.com, Hulu Energi's, Edmund Leong, Scott Murdoch, Yantoultra, Vineet, Sonali Paul Organizations: Asia, Morgan, IPOs, STAR, Shenzhen's, Reuters, JD Industrial, JD, Alibaba, HK, Bankers, Group Investment Banking, UOB, Thomson Locations: SYDNEY, SINGAPORE, China, Asia Pacific, U.S, York, Hong Kong, Indonesia, Europe, Asia, Japan, IPOS, Southeast Asia, Amman, Sydney, Singapore, Bangalore

☆ Exclusive: Bank of America promotes Bettamio to co-head of investment banking; Ahmad to co-head capital markets
▼ + stars: | 2023-06-08 | by ( Lananh Nguyen | Thomson Reuters | Lananh Nguyen Is The U.S. Finance Editor At Reuters In New York | ) www.reuters.com time to read: +1 min

NEW YORK, June 8 (Reuters) - Bank of America Corp (BAC.N) promoted the head of its Latin America business, Alex Bettamio, to co-head of global investment banking alongside Thomas Sheehan, according to a memo seen by Reuters on Thursday. It also elevated Faiz Ahmad to jointly lead global capital markets with Sarang Gadkari. Bank of America's investment-banking revenue rose 19% to $6.2 billion in the first quarter, its second-best quarter for revenue, even as investment banking fees sank 20%. Jin Su will become the bank's sole president for the Asia Pacific region when Seguchi retires. Peter Guenthardt will lead global corporate investment banking in the region.

Persons: Alex Bettamio, Thomas Sheehan, Faiz Ahmad, Sarang Gadkari, Ahmad, Bilgi Zapparoli, Bernie Mensah, BofA's, Mark Monaco, Augusto Urmeneta, Jiro Seguchi, Jin Su, Seguchi, Peter Guenthardt, Lananh Nguyen, Lisa Shumaker Organizations: YORK, Bank of America Corp, Reuters, Sarang, Global Transaction Services, Bank of, GTS, Asia, Thomson Locations: America, U.S, Asia Pacific

☆ BlackRock's China head Tang leaving the company
▼ + stars: | 2023-06-06 | by ( Selena Li | ) www.reuters.com time to read: +1 min

HONG KONG, June 6 (Reuters) - BlackRock Inc's (BLK.N) head of China business, Tony Tang, is leaving the asset manager, the company said on Tuesday, after having played a key role in expanding operations in the world's second-largest economy. Susan Chan, BlackRock's deputy head of Asia Pacific and head of Greater China, is now directly overseeing its China onshore business, the company said. "China represents a significant opportunity for BlackRock to contribute to the financial futures of a new generation of investors," the company said. Tang, a former Chinese securities regulatory official, started as BlackRock's China business head in 2019, and has been one of the top aides to CEO Larry Fink. During Tang's tenure as China head, BlackRock established a wholly-owned China fund management unit and a joint venture with China Construction Bank and Temasek offering wealth management services to Chinese investors.

Persons: Tony Tang, Tang, Susan Chan, BlackRock's, Chan, Larry Fink, Selena Li, Kim Coghill, Edmund Klamann Organizations: BlackRock, Asia Pacific, China Construction Bank, Temasek, Thomson Locations: HONG KONG, China, Greater China, New York

☆ Stocks gain, dollar stumbles as US averts default and Fed skip bets rise
▼ + stars: | 2023-06-02 | by ( Alun John | ) www.reuters.com time to read: +5 min

Markets are now focused on U.S. jobs data due at 0830 EST (1230 GMT), the most significant macroeconomic release of the week, for more cues on the Federal Reserve's rate hike path. European mining stocks (.SXPP) increased 4.4%, boosted by a Bloomberg report China is working on new measures to support its property market. Copper prices were heading for their first weekly gain since April with other metals trading higher too. Spot gold was up marginally at $1,979 an ounce, but set for its biggest weekly gain in nearly two months, as a softer dollar and lower yields bolstered the bullion's appeal. Reporting by Ankur Banerjee; Editing by Lincoln Feast, Kim Coghill, Sriraj Kalluvila and Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid LONDON, Jefferson, Jeff Schulze, payrolls, Philip Jefferson, Joe Biden, Phil Shucksmith, We've, Brent, Ankur Banerjee, Lincoln, Kim Coghill, Sriraj Kalluvila, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, U.S, Labor, U.S . Senate, Bloomberg, Asia Pacific, Japan's Nikkei, Nasdaq, Senate, Newton Investment, Investors, U.S . Treasury, European Central Bank, ECB, Thomson Locations: New York City, U.S, China, Japan

☆ Chinese EV startup Li Auto says car deliveries more than doubled in May
▼ + stars: | 2023-06-02 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

A Li Auto store inside a shopping mall in Yantai, Shandong province on May 6, 2023. BEIJING — Chinese electric car startup Li Auto said it delivered more than twice as many cars in May versus a year ago. Li Auto differs from the two startups in that its electric cars come with a fuel tank for charging the battery and extending driving range. That divergence comes as China's fast-growing electric car market grows more competitive. She expects China's electric car market to grow by 27% this year to 8.7 million units, with penetration of overall auto sales set to grow to 32% this year, versus 26% last year.

Persons: Li Auto, Li, Matty Zhao Organizations: Li, Bank of America Securities, Asia Locations: Yantai, Shandong province, BEIJING, Asia Pacific

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