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Howden has promoted Bryan Pee to CEO for Singapore and Malaysia and Shirley Sy to deputy CEO for Hong Kong, emphasizing investment in home-grown talent. Meanwhile, Citigroup has appointed Ben Connolly and Philippe Perzi as co-heads of capital markets and advisory in Australia and New Zealand, pending regulatory approval. Both firms are enhancing their leadership to support growth and client services in the Asia-Pacific region.
Turmoil in the US stock market is driving investors to global equities, with emerging markets outperforming amid recession fears. However, analysts warn that a US economic slowdown could negatively impact global markets, as tighter financial conditions may spill over if the US faces a recession. The recent selloff has led to significant gains in European and Chinese markets, bolstered by fiscal measures and technological advancements.
BofA Securities has reiterated its "Buy" rating for HSBC Holdings (00005.HK), citing the bank's potential to achieve a return on tangible equity of approximately 15% annually from 2025 to 2027. Despite the current share price trading at about 1.2x the FY2025 projected PB ratio, the firm sees upside potential with a target price set at GBX1,035.
The HSI index rose by 316 points at midday, with HSBC Holdings and AIA both increasing by 3%. The information provided is for reference only and does not constitute investment advice, with no guarantees on accuracy or future performance. Users are advised to consult professional financial advisers before making investment decisions.
This week marked a significant surge in mergers and acquisitions across Asia's tech landscape, with 86 deals totaling over US$680 million. Notable transactions include Zolve's US$251 million funding in India and Otorio's US$120 million acquisition by Armis in Israel. The momentum suggests a robust start to March, potentially signaling a revitalization in the region's investment climate.
This week saw a surge in mergers and acquisitions across Asia's tech landscape, with 86 deals totaling over US$680 million. Notable transactions include Zolve's US$251 million funding in India and Otorio's US$120 million acquisition by Armis in Israel. The momentum suggests a robust start to March as the region's startup ecosystem continues to evolve.
Xiaohongshu has introduced the "Overseas Ecommerce Pioneer Program," aimed at providing cross-border business solutions for merchants. This initiative integrates online transactions, export trade, cross-border payments, and localized operations into a cohesive service chain. Currently in the testing phase, it is available by invitation only to select merchants, targeting markets in the US, Hong Kong, and Macau.
Xiaohongshu has introduced the "Overseas Ecommerce Pioneer Program," aimed at providing cross-border business solutions for merchants. This initiative integrates online transactions, export trade, cross-border payments, and localized operations into a cohesive service chain. Currently in the testing phase, it is available by invitation only to select merchants, targeting markets in the US, Hong Kong, and Macau.
Nio has laid off approximately 10% of its workforce across various teams, primarily affecting the sales and service segments, with significant cuts in the UR Fellow department. The company is restructuring to enhance cost control amid disappointing sales figures for its sub-brand Onvo, which has struggled to meet targets since the launch of the L60 model. Despite these challenges, Nio's battery swap stations are reportedly nearing profitability, with construction costs significantly reduced.
Nio has laid off approximately 10% of its workforce across various teams, primarily affecting the sales and service segments, with significant cuts in the UR Fellow department. The company is restructuring to enhance cost control amid disappointing sales figures for its sub-brand Onvo, which has struggled to meet targets since the launch of the L60 model. Despite these challenges, Nio's battery swap stations are reportedly nearing profitability, with construction costs significantly reduced.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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