Demystifying long and short funds
Long/short funds are a type of fund that aims to maximize the upside of markets, while limiting the downside risks. To do this, these funds take both long and short positions in investment positions, often from a specific market segment. Here we look at long / short funds in more detail, specifically how fund managers…
Running down a coal mine could beat selling it
BHP Group’s decision to wind down its Mount Arthur coal mine rather than sell to a private buyer will shorten the mine’s operating lifespan and reduce overall expected carbon emissions. It underlines how a strategy of running down a coal mine may beat divestment for real world carbon impact. “Would that it were so simple,”…
Evening report Friday
The Australian sharemarket managed to secure its fourth straight win on the final trading day of the week and month, with the ASX 200 up by 55.5pts or 0.8 per cent, to 6945.2. With the exception of healthcare stocks, all sectors improved on Friday. Property stocks climbed most (+2.94 per cent) and mining stocks lifted…
Business inflation at historic highs
The “final demand” component of producer prices (business inflation) rose by 1.4 per in the June quarter to be up 5.6 per cent on a year ago, the strongest annual growth rate in 13½ years (since December 2008). Private sector credit (broadly, outstanding loans) rose by 0.9 per cent in June to be up 9.1…
Tech empowers innovation culture
At the 2022 Beijing Culture Forum held from July 25 to 26, experts and industry insiders shared the new trends and prospects of cultural innovation. Wan Jie, chairman of Artron Art Group, said the company is going to join hands with the Beijing Fine Art Academy to launch a digital exhibition of the art work…
NBN Co withdraws Special Access Undertaking variation
NBN Co has withdrawn the variation to its Special Access Undertaking it lodged with the ACCC in March this year and will submit a new variation proposal after consulting with industry. The Special Access Undertaking is a key part of the regulation of the NBN. It sets the rules for broadband providers to access the…
ASIC bans Queensland responsible manager for 4 years
ASIC has banned Albert Christen Walters, known as Chris Walters, from performing the functions of an officer and a responsible manager of a financial services business for four years, after finding that he is not competent and is not a fit and proper person to perform those roles. Mr Walters was a director and the…
Chinese enterprises to defer 7 bln of housing fund payments
China has allowed 23,000 enterprises to defer a total of 7.11 billion yuan (about 1.05 billion U.S. dollars) of housing provident fund contributions as of July 20, an official said on Thursday. A supportive policy allowing the deferral of housing provident fund payments was rolled out in May and has helped enterprises and individuals tide…
Export insurance company registers steady business growth
China’s only policy-oriented insurer specializing in export credit insurance reported steady business growth in the first half of 2022. The China Export & Credit Insurance Corporation, also known as SINOSURE, had underwritten about 445.13 billion U.S. dollars worth of insured businesses during the period, up 11.8 percent year on year, according to the company. SINOSURE…
Economic update: Australia’s position of strength
The incoming Federal Treasurer, Jim Chalmers, has delivered an update on the economic situation and outlook in a statement to Parliament. In line with other countries, forecasts for economic growth have been downgraded and forecasts for inflation have been upgraded. The Treasurer noted that “once again Australia is outperforming much of the world”. Further, the…
