APRA monitors Volt return of deposits
The Australian Prudential Regulation Authority (APRA) notes today’s announcement by Volt Bank Limited (Volt) that it intends to return all funds to depositors and ultimately relinquish its licence to operate as an authorised deposit-taking institution. Volt’s decision to exit the banking industry and pursue other business opportunities is a commercial decision for Volt. As Australia’s…
Major stock market indices worldwide
The following are the indices of major stock markets worldwide on Monday. ASIA The Shanghai Composite Index opened at 3,381.82 points, down 5.82 points, or 0.17 percent. The Shenzhen Component Index opened at 12,813.49 points, down 46.87 points, or 0.36 percent. The Hang Seng Index opened at 21,690.68 points, down 169.11 points, or 0.77 percent….
ASIC suspends AFS licence
ASIC has suspended the Australian financial services (AFS) licence of ISG Financial Services Limited (ISG) (AFSL 290328) until 30 September 2022. ISG is the responsible entity of two registered managed investment schemes, the ISG Real Estate Equity Fund (ARSN 618 548 780) and the ISG Private Access Fund (ARSN 618 548 333) (together, the Schemes)….
China’s digital economy more than quadruples in past decade
BEIJING – China’s digital economy logged rapid expansion in recent years, with its scale increasing from 11 trillion yuan (1.65 trillion U.S. dollars) in 2012 to over 45 trillion yuan in 2021, official data showed. The proportion of the digital economy in China’s GDP rose from 21.6 percent to 39.8 percent in the period, according…
CommSec morning report Monday
In US economic data, construction spending fell by 0.1% in May (survey: +0.4%). The ISM manufacturing index eased from 56.1 to 53.0 in June (survey: 54.9). The ‘final’ S&P Global manufacturing index fell from 57 to 52.7 in June (survey: 52.4). According to Wards, total vehicle sales rose from 12.68 million to 13.0 million in…
Can investors bring improved health and wellness to emerging markets?
Impact investing: companies providing health and wellness products and services can make a positive impact on people in emerging markets. Impact investing incorporates dual goals of generating positive contributions to society and the planet, as well as attractive financial returns. We believe this is achieved by investing in the shares of companies which, as well…
The recession everyone sees coming
Right now, the market is trading based on one issue: inflation. This week was a bad one for inflation. The selloff in oil and industrial commodities continued. Since last Friday, WTI crude has fallen over 11% and gasoline futures are down ~12% from recent highs. Copper is in its worst 10-day selloff since March 2020, when the whole world…
An investors guide to dissecting supply chain disruption
We are now over two years into the pandemic and the world is still battling supply chain disruptions that are being amplified by the war in Ukraine and COVID-related lockdowns in China. Investment Director Catherine Yeung and Head of Asian Fixed Income & Hong Kong Investments Marty Dropkin gathered with Fidelity analysts and portfolio managers…
Evening report Friday
Despite climbing by as much as 0.85 per cent this morning, the Aussie market finished its first session of the new financial year in the red, with the ASX 200 sliding by 28.2 pts or 0.43 per cent, to 6539.9. The market was held back most by our mining and energy stocks, after major commodities…
The week ahead – 1 July 2022
Another rate hike is on the cards A raft of ‘top shelf’ economic indicators will be released over the week while the Reserve Bank (RBA) Board also meets to discuss monetary policy settings. The week kicks-off on Monday, with four key indicators to be released. The Australian Bureau of Statistics (ABS) issues Lending Indicators and…
