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What investors should know about Asean’s ecommerce war
The ecommerce giants of Asean are largely mired in stiff competition and weak earnings. But we think their woes are just the growing pains of a young market.
Why net zero could be the unlikely answer to Japan’s cross-shareholdings woe
Japan’s push to enhance emissions disclosures has become ensnared in its efforts to reduce cross-shareholdings and may accelerate their unwinding.
Field Notes: Seeing the fabric of life in Bangladesh
We recently travelled to Bangladesh to see what the living and factory working conditions are like for the world’s No. 2 exporter of ready-made garments.
Government regulation will drive real change in ESG
One of the strongest messages communicated in this year’s ESG Survey is the effectiveness of government regulation in changing companies’ behaviour.
Regulation is shaping the future of sustainability
A key driver of ESG flows continues to be regulation and this is responding to the increased frequency and materiality of ESG-related events.
Chart Room: Easing Japan’s ‘June jam’ of shareholder meetings
The pile-up of annual general meetings at the end of June in Japan can be a pain for investors, but jams have been easing somewhat in a positive sign.
Fundamentals: When boring banking is better
Fundamentals: When boring banking is better
How China aims to unlock more value from state firms
In a new reform push, China’s policymakers are nudging state-owned companies to boost shareholder returns and capital efficiency.
First Republic Bank and the outlook for the financial system
First Republic Bank and the outlook for the financial system
Field Notes: China’s healthcare innovation marches on
Despite policy concerns and geopolitical tensions, China’s healthcare sector has stayed its course on innovation and keeps climbing the value chain.
Japan’s stock market reform gathers steam
The Tokyo Stock Exchange is taking steps in the right direction on some long overdue reforms, but more still needs to be done.
Private credit offers alternative as banking pressure rises
Private credit offers alternative as banking pressure rises
Fed hikes into the banking storm as hard landing risks rise
As expected, the impact of the past fortnight’s banking troubles was writ large on the Federal Reserve’s March meeting. But it is still raising rates.
Suisse roll-up
An historic last-minute takeover of Credit Suisse by UBS offers an imperfect solution as regulators seek to contain broader systemic risk.
SVB sell-off shows where market weaknesses lie, but contagion unlikely
SVB sell-off shows where market weaknesses lie, but contagion unlikely
China’s property market sparks to life with signs of recovery
Homebuyers are finally back in action in China. We see a rebound in sales activity in mega cities, although consumer confidence remains fickle.
Chart Room: A regulatory cliff edge for unrentable European offices
Chart Room: A regulatory cliff edge for unrentable European offices
Fundamentals: Building Paris every week
Retrofitting is the answer to slashing real estate's huge carbon bill, says analyst Cian O'Sullivan in our latest Fundamentals episode.
As banks retreat, the mid-market taps direct lenders
As banks retreat, the mid-market taps direct lenders
Are private savings the answer for China’s ageing masses?
China's new ‘third pillar’ private pension scheme could reshape both ordinary people’s retirement plans and the country's asset management industry.
Dealing with net zero's mining dilemma
Miners' management of their social, political, and environmental risks will be crucial to producing metals the world needs for a net zero transition.
Waiting for the sequel: Japan’s stock exchange reforms
A highly anticipated round of reform at the Tokyo exchange has left many questions unanswered, but rising ESG awareness shines a light on the way forward.
Overview: ESG 2.0
An ESG evolution is underway.
Getting ahead of India’s settlement reform
India’s plan to shorten the settlement period for stock trading may create significant upheaval for market participants and investors
China’s property downturn may have found a floor
The government’s will to reform a wayward real estate industry is balanced against the more urgent task of reviving a slowing economy.
The Investor's Guide to China podcast: Common Prosperity
The phrase "common prosperity" has certainly been getting a lot of air time recently, both domestically in China as well as around the world.
Now and zen: Japan’s quiet rise
Inflation may be a scourge elsewhere, but Japan is unruffled. Instead, the world’s third-largest economy is showcasing its appeal to investors.
Chart Room: As others hike rates, can China’s easing policy remain a cut above?
Cuts to the reserve requirement ratio remain China’s monetary policy weapon of choice. How they are wielded highlights the tightrope policymakers must walk.
What delisting Chinese ADRs from US exchanges does and doesn’t mean for investors
What delisting Chinese ADRs from US exchanges does and doesn’t mean for investors
Just the ticket: Fashion consumers want more clarity from retailers on sustainability
What’s in a label? Specialist reaction-time testing suggests clearer signalling on sustainability could play a role in turning the tide on what consumers buy.
You’re on mute: Shareholder meetings in the post-Covid era
Shareholder meetings have mostly moved online since Covid's outbreak. But a full and permanent switch to virtual formats would spell drawbacks for governance.
Chart Room: Fingers in the punch bowl
Central bankers seeking to deploy rate hikes against inflation risk collateral damage as tighter policy threatens already swollen debt servicing costs.
ESGenius: Boosting board independence in Japan
Regulatory reforms have created new opportunities for active shareholders to engage with Japanese companies on key governance issues like board independence.
The Investor's Guide to China podcast: Demographics
China’s labour pool is shrinking as the population ages. How people save and invest signals challenges and opportunities for China’s pension system.
Chart Room: What policies will push companies towards net zero?
The carrot is more effective than the stick, according to a survey of Fidelity International analysts.
China Green bonds: sprouting issuance, absent greenium
A key advantage of China’s onshore green bonds that sets them apart from other markets is the lack of price premium over comparable non-green issues.
Carbon pricing is coming but watch out for greenflation
Carbon pricing is an inescapable tool in the race to net zero, according to Fidelity International’s latest Analyst Survey.
The Investor's Guide to China podcast: Regulation
How should investors look at a pick-up in regulatory activity that has affected some of China’s biggest and most dynamic companies?
Time to look beyond Evergrande and China’s ‘too big to fail’ era
Property giant China Evergrande’s woes are better understood as a controlled explosion, rather than an unexpected disaster.
‘Lehman moment’ fears are wide of the mark in China Evergrande fallout
Property developer China Evergrande Group’s debt issues have rattled markets, but comparisons to a ‘Lehman Brothers moment’ look overstated and misdirected.
After the selloff, what next for China equities?
A spate of regulatory actions across several sectors in China rattled markets and sent shares tumbling, but some of this selling appears overdone.
Credit risk at China’s SOEs in focus amid Huarong saga
China’s bond and equity markets have been rattled by concerns that state-owned enterprises could face greater default risk.
Unlocking India’s structural opportunities: 10 charts
Reforms and new infrastructure paving the way for manufacturing investment and employment will be key to unlocking India’s next stage of development.
China bond defaults signal a coming of age as state safety net shrinks
Bond defaults by state-owned enterprises have rattled China’s onshore credit markets. We see this as an important if painful step in curtailing moral hazard.
China takes aim at trash
A massive nationwide effort is underway to improve China's waste management systems.
Chinese banks are due for national service
As governments around the world exhaust their policy arsenals to save economies, China is reaching for a secret weapon unrivaled by most countries.
Public equity markets are flagging when we need them the most
Revived public equity markets will be needed to recapitalise additional debt burdens resulting from the Covid-19 crisis response.
The end of the journey to the West: Chinese tech firms come home
The tides of global capital markets have turned for Chinese tech firms. Instead of US listings, they are starting to find greater China more compelling.
Not business as usual
Global health, monetary and fiscal policy are converging to triage the worst impacts of the Covid-19 coronavirus outbreak, but they come with a cost.
US China Phase 1: Apocalypse Postponed
'Phase 1’ of the US- China trade pact reveals no credible path forward, so instead the two sides have chosen to stand still
ESGenius: Regulation bites the tech giants, but does it have teeth?
It remains uncertain whether this amounts to a real change in the way companies use data, or if these changes are only being implemented to appease regulators.
Japan’s experience offers lessons for China’s financial sector reform
Japan offers China a lesson: postponing action on bad loans for years risks both the domestic economy and the country’s credibility with global investors.
US-China trade wars: What to expect from the G20
US President Donald Trump and China’s President Xi Jinping are expected to hold an informal meeting at the G20 Summit in Osaka, Japan on June 28-29.
In Baoshang Bank takeover, China takes aim at moral hazard
The recent move by regulators in China to take over Baoshang Bank marks a significant event in the development and liberalisation of China’s capital markets.
A Sustainable Investing checklist for UK pension trustees
UK pension fund trustees should prepare for tougher legal obligations when new government rules come into force later this year.
US-China trade truce makes a real deal more likely
The temporary truce in the US-China trade talks makes a real deal more likely, which would ultimately benefit both countries.
China's easing has not been easy
China’s deleveraging drive has softened, but credit to private companies remains weak. Bigger banks could be pushed to step in.
ESG leadership: Japan steps forward as the US steps back
When it comes to policy leadership in the arena of environmental, social and governance factors, Japan is stepping up even as the US is stepping back.
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