ASIC releases guidance for superannuation calculators
ASIC has released Regulatory Guide 276 Superannuation forecasts: Calculators and retirement estimates (RG 276) and a new legislative instrument updating the relief which facilitates the provision of superannuation calculators and retirement estimates. Superannuation calculators and retirement estimates are low-cost forecasting tools that are intended to be a helpful prompt for consumers to review their financial situation, and…
China’s shale gas hits record output high
The Fuling shale gas field in southwest China’s Chongqing Municipality produced a record high of more than 3.63 billion cubic meters of natural gas in the first half of this year (H1), up 1.9 percent year on year, according to Sinopec, the developer and China’s largest oil refiner. During the same period, 46 new wells…
CommSec morning report Tuesday
US financial markets were closed for the Independence Day holiday. European sharemarkets were mixed on Monday. The energy sector rose 4% as oil prices rose on continued concerns about nearterm crude supplies. Healthcare rose 0.7% and miners rose 1.4%. But real estate lost 2.6% and autos lost 1%. According to the Sentix reading, investor morale…
Monday evening report
A positive lead from Wall St on Friday helped the Aussie market snap a three-day losing streak, with the ASX 200 adding 72.7 pts or 1.1 per cent, to 6612.6. All sectors climbed higher for the ninth time this year. Energy and Financial companies did most of the heavy lifting rising by 2.6 per cent…
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…
