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LONDON  – Nearly half of emerging market investors are bullish on prospects for developing markets in the second quarter, a survey by HSBC showed on Thursday, thanks to rising optimism following the reopening of the Chinese economy. Some two thirds of the respondents expected emerging equities to outperform those of the developed economies in the next three months, the survey of 138 investors from 133 institutions, conducted between Jan. 24 and March 6, found. More than two thirds of the respondents expected emerging currencies to beat those of developed markets in the same period. Those surveyed represent $547 billion in assets under management. “Asia has seen the largest improvement in sentiment, largely reflecting the expectations of a strong rebound of Chinese economic activity,” said Murat Ulgen, Global Head of Emerging Markets Research at HSBC. The MSCI emerging market equity index has risen 2 percent since the start of the year, though those gains come in the wake of a … [Read more...] about Emerging market investors turn increasingly bullish for Q2, HSBC survey shows

Share to Twitter Share to Linkedin When you unshackle 1.4 billion consumers who have been penned up at home for three years, it’s reasonable to expect some fireworks. For the residents of Mainland China, life under “zero COVID” policies was a dreary round of rolling travel restrictions and lockdowns – as if the United States was permanently stuck on a skipping record of the Spring of 2020. While most of the population was able to find a way to get back to work eventually, the everyday routines of travel, dining out, and visiting friends and family were severely curtailed. Wallets stayed snapped shut. Since China executed its “COVID pivot” in late December 2022, economists have been scrutinizing the data to see if the country will be able to achieve its goal of 5% growth in 2023. If achieved, China will serve as an engine to help developed economies avoid tipping into recession. This is particularly relevant in the new era of higher interest rates, … [Read more...] about Why China’s COVID Comeback Is Still In The Early Innings, With Upside Ahead

Key Takeaways U.S. stocks posted gains on March 16, with an industry bailout for First Republic Bank (FRC) and positivity around tech stocks sending markets higher. The tech-heavy Nasdaq added nearly 2.5% in Thursday's session, while the S&P 500 and the Dow advanced around 1.8% and 1.2%, respectively. Semiconductor stocks contributed to the gains in the tech sector, with Intel (INTC) leading the Dow higher following an analyst upgrade. U.S. equities jumped on an industry bailout of struggling First Republic Bank ( FRC ) and on enthusiasm for semiconductor and other tech stocks. The Dow and S&P 500 rose more than 1%, and the Nasdaq popped 2.5%. First Republic was the best-performing stock in the S&P 500, bouncing back from big losses earlier in the day after several major banks pledged $30 billion to prop up the ailing financial institution. Shares of Comerica ( CMA ), Regions Financial ( RF ), and other regional banks increased. However, American … [Read more...] about Markets Gain on First Republic Bank Aid, Tech Enthusiasm

Key Takeaways U.S. equities indexes fell on March 22, 2023, as the Fed hiked interest rates even though markets remained concerned about issues in the banking sector. The Dow, Nasdaq, and S&P 500 all posted losses of approximately 1.6% during Wednesday's session. Bank stocks saw significant declines, with First Republic (FRC) turning in the worst performance among S&P 500 stocks on uneasiness about its risk of failure. U.S. equities sank after the Federal Reserve raised interest rates another 25 basis points (bps) in its effort to bring down inflation. The decision came despite expectations by some that policymakers might pause hikes because of concerns about the banking sector in the aftermath of the collapse of Silicon Valley Bank and Signature Bank. Fed Chair Jerome Powell noted that the banking stress will likely cause tighter credit conditions that will impact the economy. The Dow, S&P 500, and Nasdaq all dropped about 1.6%. Bank stocks tumbled, … [Read more...] about Markets Dip as Fed Raises Rates Despite Banking Concerns

Share to Twitter Share to Linkedin Topline Mortgage rates tumbled last week to their lowest level in over a month, according to data released Wednesday morning by the Mortgage Bankers Association, as waning confidence in the U.S. banking system provides a reprieve to home buyers. Key Facts The average 30-year fixed mortgage rate slipped from 6.71% to 6.48% last week, falling to its lowest level since mid-February and its largest percentage decline since November. Mortgage applications rose 3% last week, according to the survey, as buyers take advantage of rapidly declining home prices. That followed a wild stretch for the banking sector – headlined by the failures of Silicon Valley Bank and Signature Bank, the nation’s second and third-biggest such failures ever – causing investors to pack into safer assets such as government bonds. Yields for 10-year U.S. Treasury notes sank 70 basis points to 3.4% in the two-week period … [Read more...] about Housing Market: Mortgage Rates Sink To 5-Week Low Amid Bank Havoc

Share to Twitter Share to Linkedin Topline TikTok CEO Shou Zi Chew faced intense questioning from lawmakers in his first hearing before Congress Tuesday morning, defending the popular social media app and insisting it protects U.S. user data from foreign interference, though House members from both sides of the aisle remained skeptical of TikTok's plans as the Chinese-owned platform fights against a possible U.S. ban or forced sale. Key Facts Rep. Cathy McMorris Rodgers (R-Wash.)—chair of the House Energy & Commerce Committee—asked about spying and surveillance on U.S. users by TikTok, which is owned by Beijing-based tech company ByteDance, but Chew said he "disagrees with the characterization" that the social media platform is spying on American users and said TikTok is “committed” to protecting U.S. data from foreign access. Chew claimed in his testimony that he has “seen no evidence” of Chinese government officials accessing U.S. user data, … [Read more...] about TikTok CEO Spars With Congress Amid Growing Calls For Ban—As Lawmaker Calls Privacy Claims ‘Preposterous’

Share to Twitter Share to Linkedin Topline Amid growing global concern over the social media platform, TikTok CEO Shou Zi Chew will testify before the House Energy and Commerce Committee Thursday, where U.S. lawmakers are expected to question Chew over safety concerns for minors and preventing U.S. user data from foreign access. Key Facts In Chew’s first appearance before Congress, he’s expected to discuss the company’s privacy and data security practices, as well as the company’s relationship with the Chinese government, which has come under increased scrutiny in recent months. Prepared Remarks Chair Rodgers, Ranking Member Pallone, and Members of the Committee: Thank you for the opportunity to appear before you today to talk about TikTok and our mission to inspire creativity and bring joy to more than 1 billion people worldwide. I look forward to discussing what makes TikTok so special to the diverse audiences it serves, as well as our … [Read more...] about TikTok CEO Shou Zi Chew’s Prepared Comments Before Congress

Share to Twitter Share to Linkedin Topline The Chinese government will oppose a possible plan by the U.S. to force a sale of TikTok, according to a statement Thursday, amid threats by federal regulators—and testimony by CEO Shou Zi Chew—to ban the social media app in the United States over national security and data privacy concerns. Key Facts Shu Jueting, a spokesperson for China’s Commerce Ministry, said Thursday that “China will firmly oppose” a forced sale of TikTok, noting a sale “would seriously damage” investors and investor confidence in the U.S. Though Jueting said China will oppose a forced sale, she did not clarify how the Chinese government would respond. Regulators from the Committee on Foreign Investment in the U.S. (CFIUS) previously said they would ban the app in the United States if its China-based owners did not sell their stake in the company. In a statement sent to Forbes, TikTok said that “divestment doesn’t … [Read more...] about China Opposes Forced TikTok Sale By U.S. Regulators

Share to Twitter Share to Linkedin Daniel Saunders is the CEO of L Marks . He is a technologist-turned-investor and an experienced advisor in applied innovation. For most businesses, innovation means commercializing what the R&D department invents. This approach results in what is called "sustaining innovation," where you refine your offering each year, making small but consistent gains. But focusing solely on sustaining innovation closes you off from "strategic innovations" that can disrupt markets by offering something completely new. Complacency over the difference between these two types of innovation has led successful companies to struggle, as a business can become irrelevant overnight in the face of disruptive innovations. Strategic and sustaining innovation differ significantly in the types of solutions they produce, the timescales they work toward and the level of economic returns. Businesses that have mastered different forms of … [Read more...] about Why Executives Need To Pay Attention To Strategic Innovation

Share to Twitter Share to Linkedin Founder of DLT Labs , which pioneers blockchain enterprise solutions via distributed application architecture development and integration. Over the past two decades, several founder-CEOs have stepped down from their CEO roles at a crucial juncture in their firms. In fact, a Harvard Business Review analysis of 212 U.S. startups founded between the late 1990s and early 2000s showed that "most founders surrendered management control long before their companies went public." It stated that 50% of founders stepped down from the CEO post within three years of launching the venture, whereas fewer than 25% of founders led their firms’ IPOs. In The Hard Thing About Hard Things , Ben Horowitz, cofounder and general partner at VC firm Andreessen Horowitz, even went so far as to state that founder-CEOs are “generally much better at the first part than the second,” especially once their companies mature and become more … [Read more...] about Five Habits Every Company Founder Should Embrace