Goldman Sachs Asset Management: Limited Upside for U.S. Stocks, India Offers Significant Growth Potential =============== #82d3771c ver:0.11 James Ashley, head of international market strategy at Goldman Sachs Asset Management (GSAM), believes that U.S. equities are fairly valued but have limited upside at their current valuations. However, GSAM sees India as a strategic long-term growth story with significant upside in its stock market. Ashley also mentioned that Japanese stocks have more room to run due to a significant monetary policy shift. He believes that Japan is the most attractive developed market both in the short-term and long-term. GSAM suggests that investors should be looking for better opportunities outside of U.S. stocks. Krishna Sanghavi, an expert in the Indian market, predicts that India's shift towards manufacturing for export and import substitution will drive growth in core economy sectors. He emphasizes... #newstr #UsStocks #GoldmanSachsAssetManagement #India #Japan

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The Rise of Protectionist Parties in Europe: Insights from the European Social Survey =============== #ccc32e5c ver:0.14 The world is experiencing a rise in economic nationalism, with countries prioritizing their domestic agendas over free trade. Economic nationalism can be beneficial when pursued judiciously to build economic strength and reinforce national purpose. It frames the economy in terms of serving the nation and can be compatible with openness to international trade. East Asian developmental states have successfully combined economic integration with selective protection of key industries. While economic nationalism has its drawbacks, such as excessive state control and indiscriminate trade barriers, when done right, it can lead to inclusive domestic economies and cohesive societies. The risk lies in the US acting as a bully and imposing its policy preferences on others, which would harm the rest ... #newstr #ProtectionistParties #EuropeanSocialSurvey #Supporters #Education #Unemployment #TradeUnions

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US Closes Investigations into Problems with 2 Jeep SUVs without Seeking Recalls, Subaru to Recall Over 118,000 Vehicles in US =============== #be42f0c8 ver:0.04 The US has closed investigations into issues with two Jeep SUV models without seeking recalls. The National Highway Traffic Safety Administration (NHTSA) concluded that there was no evidence of a defect that would require a recall for the 2012 Jeep Grand Cherokee and 2009-2010 Jeep Wrangler models. The investigations were opened in 2013 and 2014 after receiving complaints about the vehicles. The NHTSA found that the reported issues, including engine stalling and airbag non-deployment, were not caused by a defect in the vehicles. The agency stated that the incidents were consistent with normal vehicle operation and did not pose an unreasonable risk to safety. However, the NHTSA did acknowledge that there were some instances where the vehicles experienced issues, but these were attributed to... #newstr #Us #JeepSuvs #Subaru #VehicleRecall #Nhtsa

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Hong Kong Considers Mandatory Surveillance and Dash Cameras in Taxis =============== #52353eb3 ver:0.08 The Hong Kong government is considering a proposal to make surveillance and dash cameras mandatory in taxis. Secretary for Transport and Logistics Lam Sai-hung announced that the government will consult with the taxi industry on this matter. The proposal comes after some members suggested the installation of a central cloud-based camera system in all taxi compartments to facilitate the retrieval of video files by law enforcement authorities. Legislative Councillors Junius Ho and Ben Chan believe that more cameras would protect the interests of passengers, while lawmaker Michael Lu suggests that Hong Kong should follow the examples of China, Australia, and New Zealand. Lawmaker Luk Chung-hung stated that if taxi owners or companies install cameras and provide full records to insurers, it ma... #newstr #HongKong #TaxiIndustry #SurveillanceCameras #DashCameras

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Hong Kong Passes New Security Law Amid Concerns About Human Rights =============== #b80b1c2b ver:0.32 Protesters in London and Taiwan rally against Hong Kong's national security law, expressing concerns about the erosion of freedom and human rights. In London, demonstrators, many of them Hong Kong residents, gather outside the British Foreign Office, wearing masks for fear of reprisals. The protesters include Finn Lau, one of eight foreign activists against whom Hong Kong officials issued an arrest warrant last July. Benedict Rogers, head of the rights group Hong Kong Watch, voices concerns about the law's potential to impose severe prison sentences and violate the Sino-British Joint Declaration. In Taiwan, protesters stage a symbolic fight between people wearing costumes of a Formosan Black Bear and Winnie the Pooh, representing Taiwan and Chinese President Xi Jinping, respectively. The n... #newstr #HongKong #SecurityLaw #Protesters #CriminalDamageDefence

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Bowman Consulting Announces Pricing for Public Stock Offering =============== #0319bdb7 ver:0.07 In the world of finance, there are numerous investment opportunities available through securities offerings. Financial institutions like BofA Finance LLC, Citigroup Inc., Morgan Stanley Finance LLC, UBS AG, and FSK provide various investment options for investors. BofA Finance LLC has released an amended and restated pricing supplement for their securities, providing updated information on fee-based advisory accounts, public offering price, principal amount of Notes, Contingent Coupon Payment, Observation Dates, Redemption Amount, Event of Default, and Underlyings such as NDX, RTY, and SPX . Citigroup Inc. ensures a maximum return at maturity for their securities, which will be at least $235.00 per security, representing at least 23.50% of the stated principal amount . Morgan Stanley Fi... #newstr #BowmanConsulting #StockOffering #PublicOffering #UnderwrittenPublicOffering #Shares #Executives #GrossProceeds #UnderwritingDiscounts #Commissions #OfferingExpenses #ClosingDate #CorporatePurposes #OrganicGrowth #Acquisitions #CreditFacility #BookrunningManagers #Reston,Virginia #Engineering #Geospatial #EnvironmentalConsulting

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Implications of New Law on Hong Kong's Legal Framework and Financial Hub Role =============== #57ae4a7e ver:0.59 Lawmakers in Hong Kong held a special session on March 20, 2024, to resume debate on the proposed national security law. The legislation, which is seen as a political crackdown following the pro-democracy protests in 2019, threatens stringent penalties for actions deemed threats to national security, including treason and insurrection. The special session, held a day before the Legislative Council's regular sessions, indicates the government's desire to pass the law quickly. Critics fear that the law will further erode civil liberties promised to Hong Kong when it returned to Chinese rule in 1997. Since the 2019 protests, the political scene in Hong Kong has changed dramatically, with activists prosecuted and pro-democracy media outlets shut down. Many individuals have sought refuge abroad... #newstr #HongKong #NationalSecurityLaw #Autonomy #RuleOfLaw #FreedomOfSpeech #Expression #FinancialHub

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Chinese Smart Driving Startup Horizon Robotics Files for IPO in Hong Kong =============== #6a5f5109 ver:0.09 Hong Kong car salesman Danny Chan Kwok-leung clinched five orders for electric vehicles (EVs) on Wednesday, the day Financial Secretary Paul Chan Mo-po unveiled his budget. The HK$287,000 (US$36,660) tax concession for those who trade in their internal combustion-engine cars will be cut to HK$172,500, and high-end EVs priced at HK$500,000 before tax, will no longer be eligible for tax breaks under the 'affordable users pay' principle. Other industry players told the Post the changes were likely to move buyers to consider lower-priced EVs, and they pointed out there was plenty of choice ranging from mainland China-made BYD cars going for HK$198,000 to Japanese Nissan models priced at HK$269,800. The tax incentives were introduced in 2018 to support Hong Kong’s drive to encourage EVs, with t... #newstr #Evs #TaxIncentives #Ipo #HorizonRobotics #HongKong

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Challenges Faced by Hong Kong BNO Visa Holders in Accessing UK Universities =============== #809309f7 ver:0.05 Germany faces challenges in attracting and retaining AI talent, with many international students leaving for other countries such as the US, Switzerland, and the UK after completing their doctorates . On the other hand, the US has a higher retention rate for its AI talent, with a significant percentage of international graduates staying in the country for work . Visa regulations play a crucial role in attracting and retaining international students, with countries like Canada, the UK, and the US implementing student-friendly visa policies that create new opportunities for Indian students . The availability of work permits and part-time work opportunities also contribute to the growing demand for education loans among Indian students, making studying abroad more accessible . The Supreme Cou... #newstr #Immigration #InternationalStudents #HigherEducation #BnoVisa #UkUniversities

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Hong Kong-Based Asset Manager VSFG and Value Partners Apply for Spot Bitcoin ETF =============== #a602c235 ver:0.53 Bitcoin's popularity is not limited to the United States, as evidenced by several signals from around the world. In South Korea, the demand for BTC is high, with the kimchi premium reaching a 27-month high. El Salvador has increased its investment in Bitcoin by over 50%, while Nigerians and Venezuelans are turning to Bitcoin to protect their savings from hyperinflation. Japan is considering allowing private venture capital firms to hold Bitcoin, and Germany has launched a regulated spot crypto platform. DZ Bank in Germany also plans to launch a crypto trading service. Coinbase has received approval to operate in France, where 10% of adults own crypto. Additionally, VanEck is working towards launching a spot Bitcoin ETF in Australia. These developments highlight the global appeal and adopti... #newstr #Bitcoin #Etf #HongKong #Cryptocurrency

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Hong Kong MTR Enhances High Speed Rail Train Service =============== #d0c70c5a ver:0.38 Hong Kong's MTR Corporation (MTRC) will enhance its High Speed Rail train service starting from April 6. The MTRC will regularize four more train services between West Kowloon and Shenzhen, with over 200 High Speed Rail trains in service every day during the Easter and Ching Ming holidays. The newly added regular trains include one pair running between Hong Kong West Kowloon and Futian stations, and one pair running from Hong Kong West Kowloon to Shenzhenbei station. Additionally, more trains between Hong Kong West Kowloon and Futian stations will operate from March 28 to April 6, with a total of 12 to 14 trains for Shenzhen added daily. This enhancement aims to provide more convenient transportation options for passengers traveling between Hong Kong and Shenzhen. Hong Kong's economy ha... #newstr #HongKong #Mtr #HighSpeedRail #TrainService #Shenzhen

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Hong Kong Stocks Rise Led by Meituan and Baidu, Short Selling Turnover Decreases, BOC Hong Kong Sees Bullish Block Trade, SINOPEC CORP Experiences Bearish Block Trade, UBXIAMI@EP2406B Rises 20.69% Amid Concerns About Weak Growth =============== #133aea61 ver:0.61 Hong Kong stocks began Monday's trading session slightly higher as traders prepared for the release of key US data later in the week. The Hang Seng Index added 0.20 percent, or 32.48 points, to reach 16,531.95 at the opening. Meanwhile, the Shanghai Composite Index dipped 0.25 percent, or 7.53 points, to 3,040.50, and the Shenzhen Composite Index fell 0.30 percent, or 5.40 points, to 1,776.89. In the morning session, the Hong Kong stock market continued to advance. The Hang Seng Index rose 79 points or 0.5% to 16,578 at the half-day mark. The Hang Seng China Enterprises Index (HSCEI) increased 40 points or 0.7% to 5,798, while the Hang Seng Tech Index (HSTECH) elevated 9 points or 0.3% to 3,465. The turnover for the half-day totaled $61.975 billion. Meituan-W (03690.HK) saw a significant... #newstr #HongKong #HangSeng #StockMarket #EconomicGrowth

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European Shares Muted Ahead of Economic Data; H&M Shines =============== #776ce271 ver:0.19 European shares opened flat on March 27, 2024, after closing at a record high in the previous session. The pan-European STOXX 600 index remained steady at 511.07, hovering near the record high reached on Tuesday. Oil and gas shares were the biggest drag on the index, falling 0.7% due to weak oil prices caused by rising U.S. crude inventories. However, H&M, the world's second-largest listed fashion retailer, saw a 12% jump in its shares after beating first-quarter operating profit estimates. The recent dovish signals from major central banks and the rally in technology stocks, driven by the artificial intelligence fervor, have contributed to the STOXX 600 reaching record highs. Market focus will now shift to euro-zone consumer and economic sentiment data for March, as well as the U.S. perso... #newstr #EuropeanShares #EconomicData #H&m #Stoxx600 #OilAndGasShares #FashionRetailer #CentralBanks #TechnologyStocks #InterestRate #DsSmith #BritishPaperAndPackagingFirm #InternationalPaper

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Oleg Deripaska Transfers Stake in Strabag to Russian Firm Iliadis =============== #46ee61de ver:0.08 Russian billionaire Oleg Deripaska has completed the transfer of his stake in Austrian construction firm Strabag to Russian company Iliadis JSC. The sale was announced in December, and Deripaska's former shareholder, MKAO Rasperia Trading Limited, held a 24.1% stake in Strabag. Raiffeisen Bank International (RBI) had initially planned to purchase Rasperia's stake, but the deal faced scrutiny from US authorities, who urged the bank to abandon the plans. Strabag has stated that it cannot confirm whether the transfer of Rasperia's stake to Iliadis has been completed, and it continues to assume that the stake remains frozen under European Union sanctions. ... #newstr #OlegDeripaska #Strabag #IliadisJsc #RaiffeisenBankInternational #ConstructionIndustry #EuropeanUnionSanctions

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Hong Kong's TVB Reduces Losses by 5.5% to HK$763 Million, Implements Cost-Cutting Measures =============== #1f9c89d9 ver:0.19 Shanghai is confident in achieving its 5% GDP growth target and becoming a modernized socialist international metropolis with global influence. Mayor Gong Zheng outlined the city's economic development plans, which include enhancing foreign-language services, facilitating trade, and focusing on research and innovation. The city registered a record high of $24 billion in foreign investment utilization in 2023, solidifying its position as an attractive destination for international investments. Shanghai aims to further attract international investments and talent by implementing dedicated mechanisms and improving the business environment. The city also plans to increase expenditure on basic research and establish a high-caliber innovation platform, positioning itself as a hub of science and ... #newstr #HongKongTvb #FinancialResults #Costcutting #RevenueGrowth #Layoffs #Ebitda #MainlandChina #AlibabaGroup #CultureAndFilmIndustries #Youku #TvDramas

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Art Basel Hong Kong 2024 Showcases Exceptional Art and Growth of Hong Kong's Art Scene =============== #3c5f5014 ver:0.34 Hong Kong Art Week is in full swing, with Art Basel Hong Kong returning to its pre-pandemic scale, featuring 242 galleries from 40 countries and territories. The show highlights the exceptional art from across the Asia-Pacific region. Art Basel Hong Kong has curated sections like Insights, Encounters, and Kabinett, offering visitors a diverse range of artworks to explore. The fair also features the Conversations and Film programs, which are free to the public. The Insights sector at Art Basel Hong Kong showcases exceptional historical material, providing insights into the art world's past. This sector offers a unique opportunity for collectors and art enthusiasts to engage with significant artworks and gain a deeper understanding of art history. Encounters is another exciting section ... #newstr #ArtBaselHongKong #ArtFair #Galleries #ArtMarket #Asiapacific

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Hong Kong Police Arrest 15-Year-Old Girl Linked to Phone Scams Involving HK$1.75 Million in Losses =============== #5bcb625e ver:0.26 Hong Kong police have arrested a 15-year-old girl in connection with seven phone scams that targeted elderly individuals living alone. The scams involved a 'guess who I am' style, where the victims were informed that their family members had been arrested and needed bail payments. The girl was recruited by fraudsters through Instagram and was instructed to receive the money. The largest loss amounted to HK$1.26 million suffered by an 81-year-old woman. The girl has been detained on charges of obtaining property by deception, and further arrests may follow. Fraud cases in Hong Kong have been increasing, with over 90,000 reported crimes in 2023, representing a 28.9% rise from the previous year.... #newstr #HongKong #NationalSecurityLaw #Protests #SexualAssault #Canton #Ohio #Pornography #Voyeurism #Cromer #Moneylaundering

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Small Business Hiring Woes Ease as U.S. Economy Remains Strong =============== #adeca620 ver:0.14 In January 2024, small businesses in the United States continue to face challenges in the labor market and regulatory landscape. During the CO— Small Business Update event, Neil Bradley, Executive Vice President, Chief Policy Officer, and Head of Strategic Advocacy at the U.S. Chamber of Commerce, discussed the current state of the U.S. labor workforce. The U.S. unemployment rate is at 3.7%, leading to recruitment and staffing shortages for small businesses. Factors such as the COVID-19 pandemic, early retirements, and generational shifts have contributed to the smaller applicant pool . To address the labor shortage, Bradley suggested that small businesses prioritize legal immigration to add more workers to the workforce. He also emphasized the importance of leveraging the natural benefit... #newstr #SmallBusiness #Employment #Hiring #Economy

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Key Economic Releases and Events to Watch in the First Trading Week of April 2024 =============== #cb013203 ver:0.17 The first trading week of April 2024 is expected to be eventful, with several key economic releases and events on the horizon. Traders and investors will be closely monitoring these developments, which have the potential to significantly impact the global economy. One of the key events to watch is the release of the US core Personal Consumption Expenditures (PCE) price data. This release may impact the Federal Reserve's rate path and will be closely watched by market participants . In addition to the US PCE price data, there are three other key events to watch in the first week of April. First, the Reserve Bank of Australia (RBA) meeting minutes on April 2 will be closely watched for any clues on the timeline for rate cuts. Second, the Eurozone's flash inflation rate on April 3 will prov... #newstr #EconomicCalendar #UsCorePcePrice #FederalReserve #ReserveBankOfAustralia #RbaMeetingMinutes #EurozoneInflationRate #EuropeanCentralBank #UsNonfarmPayrolls

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EUR/USD Forecast: Euro buyers hesitate in the absence of fundamental drivers =============== #acbb1c95 ver:0.4 The EUR/USD currency pair is currently trading at 1.0816, up 0.08% on the day, as the US Dollar weakens. The pair has managed to hold above the key support level of 1.0800 despite increased volatility in recent days. The Federal Open Market Committee (FOMC) decided to keep interest rates unchanged at 5.25–5.50% for the fifth consecutive meeting. Fed Chair Powell stated that the recent elevated CPI inflation data has not changed the view that inflation is trending lower. On the other hand, ECB Governing Council member Edward Scicluna suggested that an interest rate cut from the ECB in April could be warranted and should not be ruled out. Traders are now focusing on upcoming economic data, including the Chicago Fed National Activity Index, US New Home Sales data, German Retail Sales, and US ... #newstr #Eur/usd #UsDollar #EconomicData #FederalReserve #Ecb #RussiaukraineConflict

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