Kiat Han Tan

UBP - Union Bancaire Privée Hong Kong hires Greater China trio from BOS and Citi. https://lnkd.in/gUV2aGZW The Swiss private bank has recruited a team head and two relationship managers as Hong Kong boss Teresa Lee continues to grow her army of bankers. #ubp #privatebank #peoplemoves #hongkong #asia

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Jason Yu, CFA, our CEO for Hong Kong, was invited to speak on a panel of global asset managers at the 2025 HSBC China Investor Wealth Summit in Shenzhen, during which he shared Schroders’ view that short-dated bonds will likely outperform amid Trump’s policy and market pressure, and emphasised investment portfolios need to be actively managed given the uncertainty. Valuations in European bonds are relatively more attractive than those of the US. We favour issuers with improved profitability that can benefit from a high interest-rate environment such as those in the financial services and banking industry, Jason said. Within the Chinese market, we continue to prefer certain bond issuers that lead in the internet and consumer sectors, he continued. Despite recent strong performance, we maintain a positive view on gold, seeing it as a valuable diversifier in an environment of changing geopolitics, risk-averse investor sentiment, policy volatility and debate on the Fed’s independence, Jason added. For more investment views and insights from Schroders, visit: https://okt.to/EiRyUD #GlobalInvestment #SchrodersInsights #Schroders

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Singapore's sovereign wealth fund GIC ($800bn AUM) says it. Norges Bank Investment Management ($1.5trn AUM) said it earlier this year. I am sure many more asset owners have the same discussion at their investment committee meetings: 𝗙𝗮𝗶𝗹𝗲𝗱 𝘁𝗿𝗮𝗻𝘀𝗶𝘁𝗶𝗼𝗻 𝘄𝗶𝗹𝗹 𝗴𝗲𝗻𝗲𝗿𝗮𝘁𝗲 𝗽𝗲𝗿𝗺𝗮𝗻𝗲𝗻𝘁 𝗹𝗼𝘀𝘀𝗲𝘀 𝗼𝗳 𝗰𝗮𝗽𝗶𝘁𝗮𝗹. The fiduciary consequence of that is that such investors need to find 'cheap' hedges against failed transition. And to be clear, that has nothing to do with being 'green' or 'ESG' or similarly, it's a trivial conclusion from portfolio theory. We (Anthropocene Fixed Income Institute) argue that 𝐭𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧 𝐥𝐢𝐧𝐤𝐞𝐫𝐬 - government bonds with coupon levels tied to achieving transition - may be the most consequential, effective, and frankly cheapest way for universal asset owners to either reduce risk of downside scenarios crystallizing, or failing that, to mitigate losses in those downside scenarios. h/t Gabrielle See 谢欣冕 Eco-Business https://lnkd.in/gh2W886S

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HKEX is pleased to be launching the HKEX Issuer Access Platform. This centralised, secure and web-based communication channel is designed to enhance the interaction between listed issuers and HKEX, supporting the ongoing modernisation of Hong Kong’s markets infrastructure. Key features for issuers and advisors: 🟦 Submit and publish regulatory announcements through the platform 🟦 Interact with HKEX’s Listing Division on regulatory matters in a secure manner 🟦 Smart compliance tools such as dashboards, workflow trackers, guides, and automated reminders to support listed issuers in fulfilling their day-to-day compliance and reporting requirements   HKEX plans to release a trial version of the IAP in the second half of 2025, allowing users to familiarise with its functions ahead of a phased launch in the second quarter of 2026.   📽️ Watch this video on how this platform works. More details at 🔗https://lnkd.in/gN3tFFka

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With the 32nd CITIC CLSA Investors’ Forum moments away, Shaun Cochran, Head of Research at #CLSA on Bloomberg TV today provided his views on China’s stock rally driven by two key drivers: cheap valuations and the rapid rise of DeepSeek — underscoring China’s growing role as a fundamental player in global tech. Building on the AI theme, Shaun highlighted a recent report from CLSA “Tokens Tale” containing a framework projection for AI compute. Today, AI models consume one quadrillion tokens each month. Our analyst projects that could rise to 80 quadrillion a month driving both huge opportunities and volatility in AI stocks. With GPUs expected to deliver 27x efficiency gains and smarter algorithms reducing token use, the AI journey is only just beginning. AI is a key theme at the 32nd CITIC CLSA Investors’ Forum. Catch Shaun’s full insights on Bloomberg TV: https://lnkd.in/gfmhNR82 #CLSANews #CLSAInsights #CITICCLSAForums #CITICCLSAInvestorsForum #CITICCLSAIF25

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Singapore-based equity management platform Qapita has raised $26.5 million in its Series B round led by Charles Schwab Corporation, with participation from Citi and MassMutual Ventures. This brings its total funding to nearly $50 million. The company plans to expand into the US market and launch its fund administration product across multiple regions. Founded by Ravi Ravulaparthi, Lakshman Gupta Kanamarlapudi, and Vamsee Mohan Kamabathula, Qapita offers digital solutions for managing ownership records, ESOPs, investor reporting, and liquidity programs. The strategic collaboration with Charles Schwab aims to simplify equity management for private companies globally, bridging access between founders, employees, and investors. #qapita #startupnews #equitymanagement #seriesbfunding #venturecapital #fundingnews #charlesschwab #fintech #privateequity #esop #ownership #digitalequity #fundadministration #globalexpansion #capitalmarkets #investment #fintechindia #startupecosystem #funding #businessnews #startuplife #entrepreneurship #techstartups #indianstartups #growth

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Hong Kong's deal scene is finally picking up after a slump, and bankers haven't been this busy since 2021. The nuance: The boom is lucrative but also risky, putting Hong Kong on the front lines of China's economic rivalry with the US. The city has become inextricably tied to President Xi Jinping’s priority industries, risking backlash from Washington politicians. Case in point: J.P. Morgan CEO Jamie Dimon has had to defend his bank's role in the $5.2 billion listing of battery giant CATL in May after facing criticism from US lawmakers. The significance of China to Hong Kong’s financial system also appears to have reached a tipping point. Mainland companies already listed onshore — like CATL — have made up more than two-thirds of overall listing volumes in the city this year. A common use of proceeds for these companies: expanding globally with their freshly raised Hong Kong dollars. My first Big Take for Bloomberg News that looks into Hong Kong's place in the nexus between China and the world, with Lulu Chen, Julia Fioretti, Charlotte Y. and edited by Matthew Thomas: https://lnkd.in/dftBsPN5

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The Monetary Authority of Singapore (MAS) appointed on July 21 the first batch of fund managers under its $5 billion Equity Market Development Programme (EQDP): Avanda Investment Management, Fullerton Fund Management and JP Morgan Asset Management. The announcement came earlier than expected, says Maybank Securities’ head of research Thilan Wickramasinghe, and two of the three appointees — Avanda and Fullerton — are linked to Singaporean state-owned investors GIC and Temasek. In a July 21 note, Wickramasinghe says this shows a whole-of-government commitment towards reform. “These appointees also signal a focus on raising market liquidity, especially for small- and mid-caps.” #investing #markets #SGX #equities #MAS #maybank

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We saw really strong treasury gains in Q1FY26 and Q4FY25, it was a great comfort for banks amid pressure on net interest margins. Will it be the same in Q2? Definitely not, analysts say. And NIM pressures are expected to continue Bond yields have moved adversely, and there’s absence of OMOs. OMOs help boost treasury gains because banks can sell their bonds to a large buyer like the central bank at a profitable rate When results are announced, we’ll get to see which banks have smart treasury teams from the gains they make in this quarter Read the full report below - https://lnkd.in/dcJhEepD

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💡 Particularly interesting signpost to see this post coming from Tim Evans (CEO of HSBC Vietnam) as he is running the largest international custodian service in the Vietnamese market. 💡 Whenever the market is actually about to upgrade, Tim will be getting a very early heads up... Background: ➡️ The Vietnamese stock market is today strangely enough still classified as a Frontier market (despite being the most liquid stock market in entire Southeast Asia) ➡️ The Vietnamese stock market is completely dominating the frontier market index (constituting 30-40% of total) - it's so outsized that funds investing in general frontier market exposure often basically becomes Vietnam funds in practice ➡️ A lot of painful ground work in terms of upgrading stock exchange trading system, establishing central clearing and revamping a long range of local regulations and laws are behind us ➡️ The local political momentum behind getting this done is now higher than ever and FTSE (likely the first index operator to upgrade Vietnam) is frequenting the country ➡️ Difficult to try time these things and at Endurance Capital Group we are not trying to (as we invest on a ~5 year horizon in each of our holdings), but whenever the upgrades from FTSE and MSCI come, very significant emerging market capital flows are forced to include Vietnam in their buying. Vietnam's structural under-valuations are set to continue to correct when this happens. ➡️ FTSE's next decision point is coming up in Sep - let's watch! Johan De Geer Minh Tran Derek Au, CPA, CA Peter Leimdörfer Sara Lindell Peter Seligson Huong Nguyen, CFA Thomas Nguyen #markets #emergingmarkets #upgrade #vietnam

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Taiwan, Japan & Korea Could Lead US Asset Exodus -- If It Occurs Happy Monday! Just a bit more from our Asia FX 2H Outlook report to kick off the week: "Apart from the major financial centres like Hong Kong and Singapore, Asian economies who owns a large bulk of portfolio-investment assets and incurs a large net international investment position (NIIP) may have the largest potential to repatriate their earnings or assets back." For the Bloomberg Intelligence research written with Chunyu Zhang, CFA, FRM, please visit our BIOs or the FX dashboard {BI CURRG <GO>}: “Taiwan, Japan and Korea Could Lead US Asset Exodus" (External link: https://lnkd.in/gx6yZUkA) #bloombergintelligence #fxtrading #taiwan #japan #korea #tradewar #dollar Asia's NIIP: Portfolio Investment Assets (Source: Bloomberg Intelligence; Link to Chart on Terminal: {G #BI 13537 <GO>})

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