US Federal Reserve Rate Cuts Expected to Support Malaysian Bond Market and Ringgit =============== #1afbfd58 ver:1.23 The US Federal Reserve's decision to pause rate cuts for a fifth consecutive time is expected to support the Malaysian bond market and the ringgit, according to Opus Asset Management. The asset management firm, which oversees mainly fixed-income investments worth around RM7.6 billion, believes that the potential start of rate cuts by the Fed will be beneficial for Malaysia. While the Fed has maintained the current Fed funds rate (FFR) at 5.25% to 5.5%, it continues to signal multiple cuts before the end of the year. Opus Asset Management predicts that the Fed will keep rates higher for longer and implement 50-100 basis point cuts in the second half of 2024. However, the impact of tight labor market conditions in the US may influence the Fed's rate cuts and its inflation rate targeting poli... #newstr #UsFederalReserve #RateCuts #MalaysianBondMarket #Ringgit #OpusAssetManagement

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Chinese President Xi Jinping Meets with Top US Executives in Beijing to Boost Confidence in the World's Second Largest Economy =============== #dda14a4e ver:0.4 Chinese President Xi Jinping met with representatives of US businesses in Beijing's Great Hall of the People on Wednesday, March 27, 2024. The meeting, proposed by Evan Greenberg, the chief executive of U.S. insurer Chubb, aimed to address concerns about China's business environment and strengthen business ties between China and the United States . The meeting included representatives from the US business community and academia, as well as prominent figures such as Apple CEO Tim Cook, Blackstone’s Stephen Schwarzman, Qualcomm Inc.’s Cristiano Amon, FedEx Corp. CEO Raj Subramaniam, and other top executives . The CEOs extended their stay in China after receiving a last-minute invitation to meet with President Xi Jinping . The meeting provided an opportunity to discuss trade and i... #newstr #China #XiJinping #UsBusinessExecutives #ForeignInvestment #EconomicGrowth #ChinausRelations

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Debate on President Biden's opposition to U.S. Steel-Nippon Steel deal and calls to dump Kamala Harris =============== #3f84714e ver:0.53 Nippon Steel Corp has stated that its proposed $14.9 billion acquisition of US Steel will not result in layoffs or plant closures. The company issued a statement addressing the concerns of the president and the United Steelworkers (USW) union, committing to invest $1.4 billion, increase the current collective bargaining agreement by over 140%, and ensure no layoffs or plant closures as a result of the deal. The proposed acquisition is subject to review by the Committee on Foreign Investment in the United States (CFIUS). US Steel expects the deal to close later this year and believes it will lead to innovation and digital transformation in the steel industry. The United Steelworkers Union (USW) has expressed concerns about the long-term impacts of the sale on the economy and national securi... #newstr #NipponSteel #UsSteel #Merger #SteelIndustry #JobCreation #EconomicGrowth

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The Economic and Human Rights Perspective on Immigration in Canada =============== #90ae7397 ver:0.06 Canada's economy is facing challenges such as a slowdown in growth, weakened consumer spending, and cooling labor market [4212111]. Foreign control also plays a significant role in shaping Canada's economy, with the share of assets owned by foreign-controlled enterprises decreasing slightly from 2020 to 2021 [4212111]. The United States is the largest foreign investor in Canada, followed by Asia [4212111]. The financial sector has seen a decline in foreign-controlled assets, while the non-financial sector has maintained a steady percentage [4212111]. Highly regulated industries in Canada are predominantly Canadian-controlled [4212111]. The Canadian government is committed to supporting its citizens and addressing housing affordability through measures like the Affordable Housing and Grocer... #newstr #Immigration #EconomicFreedom #ForeignControl #HousingAffordability #Productivity #GovernmentRegulation #HumanRights

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Japan's Yen Hits 34-Year Low, Sparks Intervention Warnings =============== #080c8e6b ver:1.22 The Japanese yen has reached a 34-year low against the US dollar, trading at 151.97 yen per dollar in the Asia session. This marks a decline of about 0.2% and is the weakest level since the mid-1990s . The yen's depreciation has drawn comparisons to Japan's intervention in the foreign exchange market in 2022 when authorities defended the currency at 151.94 yen per dollar. Japanese Finance Minister Shunichi Suzuki has issued a warning, stating that Japan would take 'decisive steps' against excessive currency moves . Japan's finance minister has stated that authorities could take 'decisive steps' against the weakness of the yen after the currency fell to a 34-year low against the US dollar. The Bank of Japan, the Finance Ministry, and Japan's Financial Services Agency will hold a meeting t... #newstr #JapaneseYen #UsDollar #CurrencyExchangeRates #BankOfJapan #UsData #CurrencyForecast #UsMonetaryPolicy #GlobalInvestorSentiment #Forex #UsInflationData

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Reconsidering the Application of the Sahm Rule to Individual States =============== #ec88061c ver:0.1 Amazon economists Francesco Furno and Domenico Giannone have developed a new model to predict recessions in real time. The model uses two inputs: one focused on real-economy activity and the other on financial conditions. It is designed to deliver a reading for a given month on the first business day of the next one, with separate versions for the US and Europe. The researchers use the Composite Indicator of Systemic Stress published by the European Central Bank for the financial side of their nowcasts, and the Purchasing Managers Index for manufacturing in the US and the European Commission's Economic Sentiment Indicator for the real-economy side. The model is said to be more useful at detecting the end of a recession and the beginning of a recovery. The economists argue that financial co... #newstr #Recession #Unemployment #EconomicIndicators #SahmRule #StateCoincidentIndexes

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Goldman Sachs Asset Management: Limited Upside for U.S. Stocks, India Offers Significant Growth Potential =============== #82d3771c ver:0.11 James Ashley, head of international market strategy at Goldman Sachs Asset Management (GSAM), believes that U.S. equities are fairly valued but have limited upside at their current valuations. However, GSAM sees India as a strategic long-term growth story with significant upside in its stock market. Ashley also mentioned that Japanese stocks have more room to run due to a significant monetary policy shift. He believes that Japan is the most attractive developed market both in the short-term and long-term. GSAM suggests that investors should be looking for better opportunities outside of U.S. stocks. Krishna Sanghavi, an expert in the Indian market, predicts that India's shift towards manufacturing for export and import substitution will drive growth in core economy sectors. He emphasizes... #newstr #UsStocks #GoldmanSachsAssetManagement #India #Japan

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The Rise of Protectionist Parties in Europe: Insights from the European Social Survey =============== #ccc32e5c ver:0.14 The world is experiencing a rise in economic nationalism, with countries prioritizing their domestic agendas over free trade. Economic nationalism can be beneficial when pursued judiciously to build economic strength and reinforce national purpose. It frames the economy in terms of serving the nation and can be compatible with openness to international trade. East Asian developmental states have successfully combined economic integration with selective protection of key industries. While economic nationalism has its drawbacks, such as excessive state control and indiscriminate trade barriers, when done right, it can lead to inclusive domestic economies and cohesive societies. The risk lies in the US acting as a bully and imposing its policy preferences on others, which would harm the rest ... #newstr #ProtectionistParties #EuropeanSocialSurvey #Supporters #Education #Unemployment #TradeUnions

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US Closes Investigations into Problems with 2 Jeep SUVs without Seeking Recalls, Subaru to Recall Over 118,000 Vehicles in US =============== #be42f0c8 ver:0.04 The US has closed investigations into issues with two Jeep SUV models without seeking recalls. The National Highway Traffic Safety Administration (NHTSA) concluded that there was no evidence of a defect that would require a recall for the 2012 Jeep Grand Cherokee and 2009-2010 Jeep Wrangler models. The investigations were opened in 2013 and 2014 after receiving complaints about the vehicles. The NHTSA found that the reported issues, including engine stalling and airbag non-deployment, were not caused by a defect in the vehicles. The agency stated that the incidents were consistent with normal vehicle operation and did not pose an unreasonable risk to safety. However, the NHTSA did acknowledge that there were some instances where the vehicles experienced issues, but these were attributed to... #newstr #Us #JeepSuvs #Subaru #VehicleRecall #Nhtsa

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Hong Kong Considers Mandatory Surveillance and Dash Cameras in Taxis =============== #52353eb3 ver:0.08 The Hong Kong government is considering a proposal to make surveillance and dash cameras mandatory in taxis. Secretary for Transport and Logistics Lam Sai-hung announced that the government will consult with the taxi industry on this matter. The proposal comes after some members suggested the installation of a central cloud-based camera system in all taxi compartments to facilitate the retrieval of video files by law enforcement authorities. Legislative Councillors Junius Ho and Ben Chan believe that more cameras would protect the interests of passengers, while lawmaker Michael Lu suggests that Hong Kong should follow the examples of China, Australia, and New Zealand. Lawmaker Luk Chung-hung stated that if taxi owners or companies install cameras and provide full records to insurers, it ma... #newstr #HongKong #TaxiIndustry #SurveillanceCameras #DashCameras

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Hong Kong Passes New Security Law Amid Concerns About Human Rights =============== #b80b1c2b ver:0.32 Protesters in London and Taiwan rally against Hong Kong's national security law, expressing concerns about the erosion of freedom and human rights. In London, demonstrators, many of them Hong Kong residents, gather outside the British Foreign Office, wearing masks for fear of reprisals. The protesters include Finn Lau, one of eight foreign activists against whom Hong Kong officials issued an arrest warrant last July. Benedict Rogers, head of the rights group Hong Kong Watch, voices concerns about the law's potential to impose severe prison sentences and violate the Sino-British Joint Declaration. In Taiwan, protesters stage a symbolic fight between people wearing costumes of a Formosan Black Bear and Winnie the Pooh, representing Taiwan and Chinese President Xi Jinping, respectively. The n... #newstr #HongKong #SecurityLaw #Protesters #CriminalDamageDefence

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Bowman Consulting Announces Pricing for Public Stock Offering =============== #0319bdb7 ver:0.07 In the world of finance, there are numerous investment opportunities available through securities offerings. Financial institutions like BofA Finance LLC, Citigroup Inc., Morgan Stanley Finance LLC, UBS AG, and FSK provide various investment options for investors. BofA Finance LLC has released an amended and restated pricing supplement for their securities, providing updated information on fee-based advisory accounts, public offering price, principal amount of Notes, Contingent Coupon Payment, Observation Dates, Redemption Amount, Event of Default, and Underlyings such as NDX, RTY, and SPX . Citigroup Inc. ensures a maximum return at maturity for their securities, which will be at least $235.00 per security, representing at least 23.50% of the stated principal amount . Morgan Stanley Fi... #newstr #BowmanConsulting #StockOffering #PublicOffering #UnderwrittenPublicOffering #Shares #Executives #GrossProceeds #UnderwritingDiscounts #Commissions #OfferingExpenses #ClosingDate #CorporatePurposes #OrganicGrowth #Acquisitions #CreditFacility #BookrunningManagers #Reston,Virginia #Engineering #Geospatial #EnvironmentalConsulting

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Implications of New Law on Hong Kong's Legal Framework and Financial Hub Role =============== #57ae4a7e ver:0.59 Lawmakers in Hong Kong held a special session on March 20, 2024, to resume debate on the proposed national security law. The legislation, which is seen as a political crackdown following the pro-democracy protests in 2019, threatens stringent penalties for actions deemed threats to national security, including treason and insurrection. The special session, held a day before the Legislative Council's regular sessions, indicates the government's desire to pass the law quickly. Critics fear that the law will further erode civil liberties promised to Hong Kong when it returned to Chinese rule in 1997. Since the 2019 protests, the political scene in Hong Kong has changed dramatically, with activists prosecuted and pro-democracy media outlets shut down. Many individuals have sought refuge abroad... #newstr #HongKong #NationalSecurityLaw #Autonomy #RuleOfLaw #FreedomOfSpeech #Expression #FinancialHub

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Chinese Smart Driving Startup Horizon Robotics Files for IPO in Hong Kong =============== #6a5f5109 ver:0.09 Hong Kong car salesman Danny Chan Kwok-leung clinched five orders for electric vehicles (EVs) on Wednesday, the day Financial Secretary Paul Chan Mo-po unveiled his budget. The HK$287,000 (US$36,660) tax concession for those who trade in their internal combustion-engine cars will be cut to HK$172,500, and high-end EVs priced at HK$500,000 before tax, will no longer be eligible for tax breaks under the 'affordable users pay' principle. Other industry players told the Post the changes were likely to move buyers to consider lower-priced EVs, and they pointed out there was plenty of choice ranging from mainland China-made BYD cars going for HK$198,000 to Japanese Nissan models priced at HK$269,800. The tax incentives were introduced in 2018 to support Hong Kong’s drive to encourage EVs, with t... #newstr #Evs #TaxIncentives #Ipo #HorizonRobotics #HongKong

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Challenges Faced by Hong Kong BNO Visa Holders in Accessing UK Universities =============== #809309f7 ver:0.05 Germany faces challenges in attracting and retaining AI talent, with many international students leaving for other countries such as the US, Switzerland, and the UK after completing their doctorates . On the other hand, the US has a higher retention rate for its AI talent, with a significant percentage of international graduates staying in the country for work . Visa regulations play a crucial role in attracting and retaining international students, with countries like Canada, the UK, and the US implementing student-friendly visa policies that create new opportunities for Indian students . The availability of work permits and part-time work opportunities also contribute to the growing demand for education loans among Indian students, making studying abroad more accessible . The Supreme Cou... #newstr #Immigration #InternationalStudents #HigherEducation #BnoVisa #UkUniversities

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Hong Kong-Based Asset Manager VSFG and Value Partners Apply for Spot Bitcoin ETF =============== #a602c235 ver:0.53 Bitcoin's popularity is not limited to the United States, as evidenced by several signals from around the world. In South Korea, the demand for BTC is high, with the kimchi premium reaching a 27-month high. El Salvador has increased its investment in Bitcoin by over 50%, while Nigerians and Venezuelans are turning to Bitcoin to protect their savings from hyperinflation. Japan is considering allowing private venture capital firms to hold Bitcoin, and Germany has launched a regulated spot crypto platform. DZ Bank in Germany also plans to launch a crypto trading service. Coinbase has received approval to operate in France, where 10% of adults own crypto. Additionally, VanEck is working towards launching a spot Bitcoin ETF in Australia. These developments highlight the global appeal and adopti... #newstr #Bitcoin #Etf #HongKong #Cryptocurrency

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Hong Kong MTR Enhances High Speed Rail Train Service =============== #d0c70c5a ver:0.38 Hong Kong's MTR Corporation (MTRC) will enhance its High Speed Rail train service starting from April 6. The MTRC will regularize four more train services between West Kowloon and Shenzhen, with over 200 High Speed Rail trains in service every day during the Easter and Ching Ming holidays. The newly added regular trains include one pair running between Hong Kong West Kowloon and Futian stations, and one pair running from Hong Kong West Kowloon to Shenzhenbei station. Additionally, more trains between Hong Kong West Kowloon and Futian stations will operate from March 28 to April 6, with a total of 12 to 14 trains for Shenzhen added daily. This enhancement aims to provide more convenient transportation options for passengers traveling between Hong Kong and Shenzhen. Hong Kong's economy ha... #newstr #HongKong #Mtr #HighSpeedRail #TrainService #Shenzhen

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Hong Kong Stocks Rise Led by Meituan and Baidu, Short Selling Turnover Decreases, BOC Hong Kong Sees Bullish Block Trade, SINOPEC CORP Experiences Bearish Block Trade, UBXIAMI@EP2406B Rises 20.69% Amid Concerns About Weak Growth =============== #133aea61 ver:0.61 Hong Kong stocks began Monday's trading session slightly higher as traders prepared for the release of key US data later in the week. The Hang Seng Index added 0.20 percent, or 32.48 points, to reach 16,531.95 at the opening. Meanwhile, the Shanghai Composite Index dipped 0.25 percent, or 7.53 points, to 3,040.50, and the Shenzhen Composite Index fell 0.30 percent, or 5.40 points, to 1,776.89. In the morning session, the Hong Kong stock market continued to advance. The Hang Seng Index rose 79 points or 0.5% to 16,578 at the half-day mark. The Hang Seng China Enterprises Index (HSCEI) increased 40 points or 0.7% to 5,798, while the Hang Seng Tech Index (HSTECH) elevated 9 points or 0.3% to 3,465. The turnover for the half-day totaled $61.975 billion. Meituan-W (03690.HK) saw a significant... #newstr #HongKong #HangSeng #StockMarket #EconomicGrowth

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European Shares Muted Ahead of Economic Data; H&M Shines =============== #776ce271 ver:0.19 European shares opened flat on March 27, 2024, after closing at a record high in the previous session. The pan-European STOXX 600 index remained steady at 511.07, hovering near the record high reached on Tuesday. Oil and gas shares were the biggest drag on the index, falling 0.7% due to weak oil prices caused by rising U.S. crude inventories. However, H&M, the world's second-largest listed fashion retailer, saw a 12% jump in its shares after beating first-quarter operating profit estimates. The recent dovish signals from major central banks and the rally in technology stocks, driven by the artificial intelligence fervor, have contributed to the STOXX 600 reaching record highs. Market focus will now shift to euro-zone consumer and economic sentiment data for March, as well as the U.S. perso... #newstr #EuropeanShares #EconomicData #H&m #Stoxx600 #OilAndGasShares #FashionRetailer #CentralBanks #TechnologyStocks #InterestRate #DsSmith #BritishPaperAndPackagingFirm #InternationalPaper

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Oleg Deripaska Transfers Stake in Strabag to Russian Firm Iliadis =============== #46ee61de ver:0.08 Russian billionaire Oleg Deripaska has completed the transfer of his stake in Austrian construction firm Strabag to Russian company Iliadis JSC. The sale was announced in December, and Deripaska's former shareholder, MKAO Rasperia Trading Limited, held a 24.1% stake in Strabag. Raiffeisen Bank International (RBI) had initially planned to purchase Rasperia's stake, but the deal faced scrutiny from US authorities, who urged the bank to abandon the plans. Strabag has stated that it cannot confirm whether the transfer of Rasperia's stake to Iliadis has been completed, and it continues to assume that the stake remains frozen under European Union sanctions. ... #newstr #OlegDeripaska #Strabag #IliadisJsc #RaiffeisenBankInternational #ConstructionIndustry #EuropeanUnionSanctions

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