Wealthy Chinese individuals are paring holdings of local securities and are increasingly looking at assets in the United States and elsewhere overseas – a trend that is set to gather pace in 2023, fund managers and industry sources said. Hit hard by losses this year, rich Chinese have become more concerned by the uncertain outlook… Continue reading Rich Chinese on the prowl for foreign investment bets to mitigate risks at homeWealthy Chinese are paring holdings of local securities.
Author: Deal Street Asia Online News
China Evergrande’s stake in services unit falls to 51.7% due to forced selling
China Evergrande Group’s shareholding in its property services unit has fallen to 51.71% from 58.18% after forced selling of pledged shares by a third party, a Hong Kong stock exchange filing showed. The number of Evergrande Property Services Group shares involved was 700 million, and the drop was the result of steps taken on Dec. 14… Continue reading China Evergrande’s stake in services unit falls to 51.7% due to forced selling
Despite backlash, BlackRock does not plan any big changes to ESG stance
BlackRock plans no major changes to the way it engages with companies and votes on environmental and social issues in the year ahead, despite a backlash against its stance on climate change from some U.S. Republican politicians. The world’s biggest asset manager, with oversees around $8 trillion for investors, has been challenged by some Republican… Continue reading Despite backlash, BlackRock does not plan any big changes to ESG stance
Stuck at eight-year-lows, recovery in Asian M&A activity rests on macro conditions
Stronger Asia-Pacific mergers and acquisitions activity next year depends on improving macroeconomic conditions, after 2022 deals were held at eight-year lows by financing costs, weak equity markets and China’s pandemic controls, dealmakers said. Deals are set to revive slowly as companies and funds watch out for easier macroeconomic conditions, they said. Hopes that Chinese companies… Continue reading Stuck at eight-year-lows, recovery in Asian M&A activity rests on macro conditions
Turnover surges as funds rush to exit private equity stakesThe wave of selling is the latest of several signs of stress in private markets
Private equity holdings are being sold at a record clip in an opaque secondary market, investors say, as asset managers cash out to cover losses elsewhere and rebalance portfolios. The wave of selling is the latest of several signs of stress in private markets and is another signal of investors starting to fall out of… Continue reading Turnover surges as funds rush to exit private equity stakesThe wave of selling is the latest of several signs of stress in private markets
Taiwan investigates TikTok for suspected illegal operationsTaiwan prohibits a wide range of Chinese business ops on the island.
Taiwan’s government has opened a probe into Chinese-owned social media platform TikTok on suspicion of illegally operating a subsidiary on the island, though the company’s owner denied the accusation. TikTok, which is not widely used in Taiwan, has come under pressure mostly in the United States on concerns about China getting access to users’ personal data, which… Continue reading Taiwan investigates TikTok for suspected illegal operationsTaiwan prohibits a wide range of Chinese business ops on the island.
Over 40 VCs commit to invest a total of $1.5b in Vietnamese startups by 2025
Venture capital firms have committed to invest $1.5 billion in Vietnam over the course of the next three years, the organisers of the Vietnam Venture Summit 2022 announced on Monday. The organisers, including Singapore-based Golden Gate Ventures and the Vietnam National Innovation Centre, also expect that Vietnam-based tech founders will raise as much as $5… Continue reading Over 40 VCs commit to invest a total of $1.5b in Vietnamese startups by 2025
Crypto bourse OKX resumes trading after outage due to Alibaba Cloud failure“Funds are safe,” OKX had tweeted after announcing the failure on Sunday at…
OKX, the tenth largest crypto exchange in the world by volume, has resumed trading “several hours” after the firm was hit by a hardware failure at Alibaba Cloud. “There is currently an intermittent connection error with our cloud provider [Alibaba Cloud], which is affecting the user experience. Our dev team is resolving it with them.… Continue reading Crypto bourse OKX resumes trading after outage due to Alibaba Cloud failure“Funds are safe,” OKX had tweeted after announcing the failure on Sunday at…
People Digest: Cooley names new partner in Shanghai; PineBridge makes senior hire in SE Asia
Law firm Cooley has announced the appointment of a former Morrison & Foerster executive as its new China partner, while US asset manager PineBridge has made a senior hire in Southeast Asia. Cooley appoints Ruomu Li in Shanghai office Law firm Cooley has announced the appointment of Ruomu Li as partner in the firms’ business… Continue reading People Digest: Cooley names new partner in Shanghai; PineBridge makes senior hire in SE Asia
NZ Super Fund commits $100m to Wellington Management’s climate-focused vehicle
NZ Super Fund, New Zealand’s sovereign wealth fund, announced that it has committed $100 million to an investment vehicle that focuses on climate change mitigation and adaptation. The commitment is for Wellington Management’s Climate Innovation Fund I (CIF), which will invest in companies developing products and solutions in sectors such as energy transformation, sustainable buildings… Continue reading NZ Super Fund commits $100m to Wellington Management’s climate-focused vehicle