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Alibaba said to pick CICC, Credit Suisse to lead Hong Kong share sale

Chinese internet giant Alibaba Group has picked China International Capital Corp and Credit Suisse Group to lead a planned Hong Kong share sale, people familiar with the matter said.The online retailer is in discussions with other investment banks seeking a role on the offering, according to the people, who asked not to be identified because the information is private. Alibaba plans to file a formal listing application with the Hong Kong stock exchange as soon as the next few weeks, the people… Source link

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Hong Kong’s housing market doomed to retreat as trade war deepens, says Credit Suisse

The escalation of the US-China trade war could derail the recent upbeat outlook on Hong Kong real estate, with Credit Suisse predicting that all segments of the property market will see a decline in prices this year.The Swiss bank said credit conditions could tighten further as banks become more reluctant to lend, leading to a rise in the Hong Kong interbank offering rate (Hibor), the interest rate at which banks lend to each other.“As the trade tensions escalate, we’re likely going to see… Source link

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Investors look to China, Asia for hedge fund allocations, Credit Suisse says

Institutional investors are increasingly looking for investment opportunities in the Asia-Pacific region, including China, as they seek to add more hedge fund investments to their portfolios, according to a new survey by Credit Suisse.Of institutional investors surveyed, 47 per cent said they were seeking investments in Asia-Pacific markets, according to the firm’s 2019 Hedge Fund Investor Survey.About 36 per cent of those surveyed said they were demanding emerging markets investments, while 34… Source link

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Chinese banks report lacklustre first-quarter profit growth, but a bargain thanks to cheaper valuations, says Credit Suisse

Leading mainland Chinese banks reported lacklustre first quarter profit growth this week, with flat, even shrinking, net interest margins. The good news is their cheaper valuations make their stock a bargain compared with global peers and the overall market for the next three months at the least, according to Swiss bank Credit Suisse.The four largest state-owned banks – Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China – were among… Source link

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Credit Suisse to take controlling stake in Chinese securities joint venture

Credit Suisse said on Monday that its plans to take a controlling stake in its securities joint venture in China, the latest overseas firm to take advantage of Beijing’s efforts to further open the country’s financial services industry.China announced in 2017 that it would allow foreign banks to own majority stakes in their securities joint ventures as part of an effort to open up its banking sector. UBS was the first foreign bank to receive approval from regulators in November to increase its… Source link

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China can excel in consumer robotics, says Credit Suisse Asset Management specialist

China can become a formidable player in the nascent consumer robotics market, where precision of movements is not as important as with industrial robotics.“The big opportunities are in the lower price segment, which I think is going to be a much bigger market than what we have today. And it is a good place [for Chinese manufacturers] to learn before making the move up [to the higher-end market],” Angus Muirhead, senior portfolio manager at Credit Suisse Asset Management, said in an interview on… Source link

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China no match for US unicorns in AI, big data and robotics as it continues to play catch-up in R&D, says Credit Suisse

China lags far behind the US in producing genuine hi-tech unicorns in artificial intelligence, robotics and biotech as it is still paying catch-up in scientific research, according to Credit Suisse.In a report released on Tuesday titled “China Unicorns, preparing to gallop”, Credit Suisse said that although China accounted for nearly one-third of the world’s 326 start-ups valued at US$1 billion or more, its share of unicorns in sectors requiring more advanced scientific research capability such… Source link

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China’s big spenders are reining in on buying cars, jewellery and watches as confidence in personal finance cools, Credit Suisse says

Chinese consumers are less confident about their personal finances, income growth and are cautious of making big purchases than they were a year ago as the country’s economic slowdown is beginning to weigh on sentiment, a Credit Suisse study has found.The number of respondents expecting an improvement in the state of their personal finances in the next six months has “decreased significantly by 5 percentage points to 30 per cent in 2018, after a strong recovery in 2017,” according to the Credit… Source link

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Credit Suisse predicts steep fall in global smartphone output as demand and China economy slow

Global smartphone production in the first quarter of this year is expected to drop 19 per cent as major handset makers feel the effects of softer demand and weak consumer sentiment in China, according to a technology research report from Credit Suisse. Production volumes are expected to slow at Apple, Samsung and Chinese smartphone makers and “the bottom is not yet in sight,” according to Credit Suisse analysts, who revised down a previous forecast for a drop of 14 per cent to 19 per cent. Output of Apple Inc.’s iPhones…

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China has a lot more to lose than the US in trade war, says Credit Suisse

The possibility that the United States and China are closer to resolving their trade dispute has stoked optimism among investors. But insufficient attention may be being paid to what happens if no deal is struck, according to John Woods, Credit Suisse’s chief investment officer for Asia-Pacific. No deal would be “profoundly negative”. It would be the reverse of China joining the World Trade Organisation in 2001, which lowered or froze barriers the country faced to export its goods and paved the way for a near tripling of its share of…

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