Asia
Chinese asset management industry cleaning house
More than 2,000 private fundraising and management firms will be forced out of the Chinese market, according to the China Securities Regulatory Commission (CSRC) and the Asset Management Industry Association of China (Amac).
China relaxes international bond issuance rules
China’s central bank has relaxed the rules for mainland corporations looking to issue bonds offshore, according to the People’s Bank of China.
Samsung AM targeting retail interest with ETFs
Samsung Asset Management intends to launch at least one leveraged and one inverse exchange-traded fund in Hong Kong.
Oil, renminbi stabilisation good news for Japan equities
A combination of strong corporate earnings and the stabilisation of both the Chinese renminbi and global oil price are making “deeply undervalued” Japanese equities more attractive, according to Tokyo-based Sompo Japan Nipponkoa Asset Management (SNAM).
Hong Kong urges greater AML and KYC effort after Panama leak
Banks and financial institutions in Hong Kong must “strictly comply” with existing money laundering laws requiring them to disclose the identities of their customers and what they intend to do with their money.