Skip to main content

Featured Post

Market Daily Report: Bursa Malaysia Ends Lower as Investors Eye US Data, BOJ Decision

KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week.   At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day.  The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Post a Comment

CICC to Merge with Galaxy Securities, Creating China’s Third-Largest Brokerage

China's Brokerage Industry Reshaped by Mega Merger

  • China International Capital Corp (CICC) and China Galaxy Securities to merge, forming a financial giant with $193 billion (¥1.4 trillion) in assets.
  • The deal, backed by Chinese authorities, will be executed via a share swap and is expected to be announced in the coming weeks.

Market & Industry Impact

  • CICC shares surged 8% and China Galaxy soared 10% in Hong Kong following the merger news.
  • The merged firm will surpass Huatai Securities, becoming China’s third-largest brokerage, after Citic Securities and the Guotai Junan-Haitong Securities merger.
  • China's $1.6 trillion securities industry is undergoing consolidation, with Beijing pushing for stronger domestic investment banks to compete with global giants like Goldman Sachs and Morgan Stanley.

Regulatory & Economic Context

  • The merger aligns with China’s financial sector reforms, encouraging consolidation to create 10 leading institutions by 2030.
  • China’s slowing economy and tighter regulations are challenging smaller and mid-sized brokerages, driving M&A activity.
  • The new entity is expected to be better positioned to navigate market turbulence and regulatory changes.

Summary:

  • CICC and China Galaxy Securities to merge, forming China’s third-largest brokerage.
  • The combined entity will have $193B in assets, surpassing Huatai Securities.
  • China is restructuring its brokerage sector to build globally competitive investment banks.
  • Stock prices of both firms surged following the announcement.
Labels:

Comments

Post a Comment

Popular posts from this blog

特朗普考虑保罗·阿特金斯接任SEC主席，或推动加密货币监管转型

据彭博社报道，美国候任总统唐纳德·特朗普正在考虑由 保罗·阿特金斯 （Paul Atkins）接替即将卸任的证券交易委员会（SEC）主席 加里·根斯勒 （Gary Gensler）。阿特金斯以其支持数字资产的立场闻名，这一任命可能为SEC的加密货币监管政策带来重大转变。 事件概况 阿特金斯的背景 ： 阿特金斯曾在乔治·W·布什政府期间担任SEC专员。他一直推动制定明确且平衡的加密货币法规，力求为金融科技创新提供支持。 行业经验 ： 离开SEC后，阿特金斯领导了 Patomak Global Partners ，一家为主要金融公司提供咨询的机构。他主张简化监管流程以鼓励创新，同时确保市场完整性。 其他候选人 ： 马克·乌耶达 （Mark Uyeda）：现任SEC专员 希斯·塔伯特 （Heath Tarbert）：前商品期货交易委员会（CFTC）主席 罗伯特·斯特宾斯 （Robert Stebbins）：Willkie Farr & Gallagher LLP合伙人 特朗普的亲加密货币立场 特朗普承诺终结根斯勒领导下的SEC“反加密货币运动”。根斯勒的任期因FTX崩盘等丑闻后的强力执法而备受争议，被批评为给行业带来了不确定性。 阿特金斯的潜在任命与特朗普的目标一致，即在保障市场完整性的同时，通过更加友好的监管政策推动数字资产的发展。 接下来会发生什么？ SEC主席的任命预计将在未来几天内敲定。如果阿特金斯接任，这将表明SEC将采取更注重创新的监管方式，为加密货币行业带来更大的确定性和发展空间。
Post a Comment
Read more

Capital A 股价下跌，因外汇驱动的第三季度业绩低于预期

Capital A Bhd 在周五早盘交易中股价下跌7%，至1.01令吉，市值降至46亿令吉。这是由于其2024财年第三季度业绩未达到大多数分析师预期，尽管受益于外汇收益提振。 2024财年第三季度亮点： 核心税后及少数股东权益后亏损 (Latmi)：  1.434亿令吉，令2024财年前9个月的税后亏损达到1.195亿令吉。 业绩未达  香港联昌投资银行（HLIB）预计的7.549亿令吉的税后净利（Patmi），但与市场普遍预测的4.59亿令吉税后净利一致。 剔除例外项目 (EIs)：  共计12亿令吉，主要由于15亿令吉的外汇收益，但被递延税务损失部分抵销。 环比表现： 核心Latmi从上一季度的5,760万令吉恶化至1.434亿令吉，主要受以下因素影响： 季节性收益率疲弱； 成本增加； ADE MRO（维修、保养及翻修）业务因6个新机库的启动成本造成亏损。 未来展望： 预计2024财年第四季度表现将有所改善，得益于： 更高的机队容量； 季节性需求和收益率的改善； 喷气燃料价格下降及美元贬值； 来自新ADE机库的运营贡献。 待决事项： 航空业务出售：  正等待法院批准出售给亚航长途（AirAsia X Bhd, KL:AAX），预计在2025财年第一季度完成。 PN17状态：  出售后仍维持，预计在2025财年上半年完成相关解决方案。 联昌投资银行（HLIB）建议： 维持“买入”评级，目标价为1.68令吉，估值基于航空业务为68亿令吉，非航空业务为21.5亿令吉。 尽管短期面临挑战，Capital A 的长期增长前景依然受到更强的季节性表现和战略举措的支持。
Post a Comment
Read more

Wall Street Wrap: Amazon Rockets to Record High, Lifts Nasdaq and S&P 500

Wall Street ended the week higher, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all gaining ground as Amazon’s strong earnings and Tesla’s rebound boosted investor sentiment. Index Performance Nasdaq Composite  rose 143.81 points (+0.6%) to 23,724.96 S&P 500  added 17.86 points (+0.3%) to 6,840.20 Dow Jones Industrial Average  inched up 40.75 points (+0.1%) to 47,562.87 Amazon Leads Tech Surge Amazon (AMZN) was the standout performer, climbing 9.6% after delivering robust third-quarter results and an upbeat outlook. Shares reached an intraday record of $255.50 before easing slightly. Tesla (TSLA) rebounded 3.8%, recovering from a 4.6% decline the previous day, while Netflix (NFLX) gained 2.7% after announcing a 10-for-1 stock split. In a market poll, Amazon was voted the top buy choice with 63% of votes, followed by Tesla at 25% and Netflix at 12%. Meta, Microsoft Drag the “Magnificent Seven” Lower Despite broad market gains, only Amazon an...
Post a Comment
Read more