Private savings are essential for maintaining a standard of living in retirement, with significant variations across global pension systems. Women face greater challenges due to career interruptions and lower wage growth, necessitating careful retirement planning. Early saving and investing in diversified portfolios can enhance financial outcomes, helping to bridge pension gaps.
Global M&A activity saw a 10% increase in deal value in the first nine months of 2024, reaching $1.6 trillion, despite mixed results across regions. While North America and Europe showed signs of recovery, the Asia-Pacific region hit a ten-year low, primarily due to declines in China. Stricter regulatory scrutiny has delayed over 40% of transactions, complicating the deal-making landscape.
Boris Collardi, Chairman of EFG International's Regional Asia Advisory Board, has appointed Urs Buchmann and Ashish Gumashta to strengthen the board. Buchmann, a former Vice Chairman at Credit Suisse in Hong Kong, and Gumashta, with extensive experience in the Indian market, will help drive EFG's growth strategy in Asia. As competition intensifies, particularly from Hong Kong and Singapore, EFG aims to expand its presence in the booming Asian wealth market.
EFG Bank AG has appointed Dr. Urs Buchmann as Vice Chairman and Ashish Gumashta as a member of its Regional Asia Advisory Board. With extensive experience in Greater China and the Indian market, respectively, they will guide the bank's growth strategy in the Asia Pacific region. EFG's leadership expressed confidence in their ability to enhance the bank's offerings and capitalize on emerging opportunities.
EFG Bank AG has appointed Dr. Urs Buchmann as vice chairman and Ashish Gumashta as a member of its Regional Asia Advisory Board. Buchmann brings over 30 years of experience in Greater China, while Gumashta has a strong focus on the Indian market. Their expertise is expected to enhance EFG's growth strategy in the region.
AUD/USD is under pressure, slipping towards the August low of $0.6698 as traders favor the US dollar post-Columbus Holiday. Resistance levels are evident in EUR/JPY and USD/JPY, with the latter briefly surpassing ¥149.98 but struggling to maintain momentum. Key support for USD/JPY is found between ¥145.93 and ¥147.21.
The Dow Jones index has reached new record highs, defying typical October weaknesses seen in election years. Meanwhile, the Nikkei 225 has hit a three-month high, continuing its recovery from August's downturn, while the Hang Seng index faces declines due to disappointing stimulus expectations, with potential support levels at 20,370 and 19,789.
U.S. pre-market trading saw Etsy drop over 4% after a Goldman Sachs downgrade, while Coty fell more than 2% following disappointing preliminary results. In contrast, Doximity gained over 3% after an upgrade from Barclays. In corporate news, Ericsson surged over 8% on strong Q3 earnings, while Asian markets were mixed, with China's Shanghai Composite down 2.53% amid economic concerns, and Japan's Nikkei 225 up 0.77% on a weaker yen and positive Wall Street momentum.
Asian indices showed positive momentum, with the Nikkei rising 1.65% and the ASX up 0.88%, while the Hang Seng Index faces uncertainty due to unclear Chinese fiscal policies. The Straits Times Index remains resilient, supported by strong dividend yields and potential increases in quality listings, aiming for a retest of its September high.
UBS Asset Management maintains an overweight stance on Gilts and JPY, citing attractive valuations and the need for aggressive BoJ revaluation. In contrast, it is underweight on Japanese Government Bonds and Switzerland due to rising wages and expensive valuations, respectively. Emerging markets, particularly BRL and ZAR, are favored for their carry potential, while U.S. equities are seen as overvalued despite strong earnings.
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