Latest news with #ex-Japan
Bloomberg
3 hours ago
- Business
- Bloomberg
Big Bets on Hong Kong Stocks Help Prusik Fund Outshine Peers
A revival in Hong Kong stocks has provided bumper returns for Prusik Investment Management, which placed early bets on once-unloved property and conglomerate shares in the financial hub. Chief Investment Officer Tom Naughton is confident that further gains lie ahead. The money manager's $787 million flagship fund has more than a third of its money invested in Hong Kong companies or those listed in the city, according to a fact sheet. That's versus a little more than 5% for the MSCI Asia Pacific ex-Japan Gross Return Index, which the fund uses as a benchmark.
Bloomberg
8 hours ago
- Business
- Bloomberg
H1 2025 APAC syndicated loans market overview
Greater China Greater China syndicated loans issuances concluded at USD 82.9 billion in H1 2025, marking a 34.5% decrease in volume year-on-year. Borrowers are cautious in raising funds, with over half of the loans issued went into supporting refinancing efforts, sitting at 55% of the total volume. Meanwhile, project finance and general corporate purposes came in at 14% and 12%, respectively. As for capital-related expenditures, the spending momentum did not sustain from last year, issuances fell sixfold. In terms of currencies, HKD gained the spotlight, with 34.8% of Greater China loans volume denominated in HKD. Worth noting, there was also an increase in the popularity of issuing in Euros in H1 2025. Especially in the Offshore China Loans market, the popularity of Euro-denominated loans accounted for around 40% of the volume. The largest deal signed in H1 2024 was issued by Fengmiao Wind Power with SMBC as the green loan coordinator. It was signed with a dual-currency TWD-EUR in a 9-tranche structure, totaling TWD 102.9 billion (USD 3.9 billion equivalent). The deal was also considered the second largest APAC ex-Japan Green UoP deal in H1 2025. Syndicated borrowing amongst ASEAN borrowers in H1 2025 were not in line with the trend of dropping volume across the broader APAC ex-Japan region, marking an increase of 25.3% year-on-year, totaling USD 42.9 billion. ASEAN Borrower loans were primarily issued for general corporate purposes (24%) and refinancing (23%), while issuance for real estate and sustainable purposes rose to 16% and 9%, respectively. The share of refinancing has declined, reflecting a growing focus on ESG, long-term infrastructure, and development financing. The share of USD-denominated loans to ASEAN borrowers has dropped from 48% to 27.5% year-on-year, as borrowers increasingly diversify into other currencies like SGD, which now leads at 43.5%. This shift is largely driven by the weakening of the U.S. dollar—spurred by recent U.S. tariff policies and evolving global monetary dynamics—making USD borrowing less attractive. The largest ASEAN loan signed in H1 was to Marina Bay Sands integrated resort for SGD 12.0 billion (USD 9.4 billion equivalent). It is to finance the expansion of the Marina Bay Sands Resort, including the construction of a new fourth tower. It is signed with a 3-tranche structure with over 26 banks participating in the deal. Among the mandated lead arranging banks, United Overseas Bank claimed the top spot, followed by DBS and Oversea-Chinese Banking Corp, with market shares of 8.73%, 8.0%, and 7.94%, respectively. Among the bookrunners, United Overseas Bank ranked top, followed closely by BDO Union Bank, and DBS, making up market shares of 10.59%, 9.84% and 8.32%.
Time of India
a day ago
- Business
- Time of India
ET Market Watch: Markets rally on tariff relief; inside the 540-pt surge on D-Street
Transcript Hi, you're listening to ET Markets Radio. I am your host, Neha Vashishth. Welcome to a fresh episode of ET Market Watch -- where we bring you the latest news from the world of stock markets every single day. Let's get to it: Global trade diplomacy lifted markets today! Sensex jumped 540 points, Nifty closed above 25,200, thanks to a tariff-cutting deal between the US and Japan that boosted hopes around India-US trade talks. Global Rally Asian stocks surged, Japan's Nikkei soared 3.5%, MSCI Asia ex-Japan up 1.4%. Europe followed auto stocks zoomed, Stoxx 600 gained 1%. India Highlights Back home, HDFC Bank, ICICI Bank rallied for a third day. IT and financials led the gains. But realty tanked. Lodha and Oberoi Realty dropped sharply on block deals. Tata Consumer fell 2%, while Dr Reddy's inched up ahead of earnings. Technical Check Nifty's now above the 21-day EMA. RSI in bullish mode. Target? 25,500. Support? 24,900. Commodities & Currency Brent crude held at $68.47. Rupee steady, closing just shy of 86.50 vs dollar. Expert Take Analysts say optimism around India-UK FTA and easing global trade tensions could keep bulls in charge, at least for now.
Bloomberg
3 days ago
- Business
- Bloomberg
Rupiah to Consolidate Before Further Gains, Citi Strategist Says
The Indonesian rupiah's recent gains are set to pause in the coming month before advancing to levels last seen in December, according to the currency's top forecaster. Emerging market currencies, especially those that are high-yielding, tend to weaken for various reasons in August, said Rohit Garg, head of foreign exchange and rates strategy Asia ex-Japan for Citigroup Inc. By the end of the year, the strategist forecasts the rupiah to rally almost 2% against the dollar.
Biz Bahrain
4 days ago
- Business
- Biz Bahrain
Standard Chartered: Weak Dollar to Unlock Opportunities in Emerging Markets and Global Equities
Standard Chartered announced its Global Market Outlook for the second half of 2025, projecting a constructive but volatile environment for investors worldwide. The Bank sees significant implications for Middle East investors, driven by expectations of a softer US dollar, resilient global equity markets and improving prospects for emerging-market assets. The report highlights that Global macro conditions remain mixed. In the United States, growth continues to be supported by resilient consumption and fiscal stimulus, though trade and policy uncertainty may temper momentum in the second half of the year. In Europe, fiscal easing increasingly offers support, but structural challenges persist while China's outlook is stabilising on the back of targeted stimulus and improving retail activity. Meanwhile, growth in India and ASEAN is expected to remain well-supported. Against this backdrop, the report outlines an investment strategy reflecting evolving risks and opportunities. We expect the US dollar to weaken over the next 6 to 12 months and have accordingly upgraded Asia (ex-Japan) equities and Emerging Market (EM) local-currency bonds to Overweight. Global equities also remain an Overweight position across portfolios, supported by healthy earnings, easing trade tensions, and controlled inflation (so far). Commenting on the report, Dr. Boutros Klink, CEO, Standard Chartered Bahrain, said: 'As global markets transition into a new phase, investors in Bahrain and the wider Middle East are well-positioned to capitalise on emerging opportunities. A weaker dollar historically supports returns across risk assets, particularly in emerging markets, which have long been core components of regional portfolios.' He added: 'This outlook underscores a critical moment for investors in the region. As the global environment adjusts to weak dollar dynamics, shifting trade policies, and diverging central bank actions, investors in our region have an opportunity to reposition portfolios with greater international diversification. Asset classes such as emerging market bonds and equities across major regions (including non-US equities) are well-placed to help investors navigate volatility, capture income, and enhance portfolio resilience in today's shifting landscape.' In line with these themes, the report maintains a preference for USD-denominated bonds in the 5–7-year maturity range, citing them as the most attractive in terms of risk-adjusted returns, particularly as yields begin to ease from current levels. Meanwhile, Developed Market Investment Grade corporate bonds have been downgraded to Underweight due to tight yield premiums and slower inflows. Alternative investments are also in focus, with the Bank highlighting gold as a core allocation, supported by strong central bank demand and its role as a diversifier when bonds offer less downside protection.
