Bloomberg China stocks’ biggest weekly surge since February is rekindling investor hopes for a strong rally ahead. But don’t expect the sentiment-driven frenzy of last year, analysts say. The benchmark CSI 300 Index gained 3.6% last week, with turnover nearing the 1 trillion yuan ($157 billion) mark – the most since late February. Foreigners snapped up a record amount of …

Bloomberg Malaysian stocks dropped and the ringgit weakened after the government imposed a two-week nationwide lockdown to curb a relentless surge in Covid-19 infections. The FTSE Bursa Malaysia KLCI Index falls as much as 1.6% on Monday, before paring losses to 0.7% at the close in Kuala Lumpur. The ringgit slid as much as 0.4% to 4.1480 per dollar, while …

Abu Dhabi / WAM UAE property market saw AED68.6 billion in transactions in Q1 of 2021, in a fresh sign that the worst is over and smart recovery is accelerating thanks to increased spending on infrastructure development, and the recorded growth in trade and tourism sectors across the nation. Statistics revealed by the departments concerned in Abu Dhabi, Dubai, Sharjah …

Bloomberg India expanded an emergency credit program to airlines and hospitals to cushion them from the impact of a wave of coronavirus infections and deaths. The loans, which were previously intended for specific sectors such as small borrowers, can be availed until September 30 or until total guarantees worth 3 trillion rupees ($41 billion) are offered, the Finance Ministry said …

Bloomberg Hong Kong’s virtual banks are facing years of red ink on the bottom line after making limited inroads against their brick-and-mortar rivals in the financial hub. The two leading digital banks so far, Mox Bank Ltd, backed by Standard Chartered, and ZA Bank Ltd, bankrolled by China’s ZhongAn Online P&C Insurance, predict they will start breaking even by 2024 …

Bloomberg Credit Suisse Group AG is grappling with how to keep top bankers from fleeing to competitors and drastically reducing risk as new Chairman Antonio Horta-Osorio seeks to recover from a series of scandals. The lender is cutting ties with SoftBank Group Corp, a backer to Lex Greensill’s collapsed supply-chain finance empire, and it’s temporarily barring clients from withdrawing all …

Bloomberg The Federal Reserve has privately told Deutsche Bank AG that its compliance programs aren’t up to snuff, signalling that the scandal-plagued bank is failing to adhere to a number of past accords with US regulators. The Fed’s recent warning came in an annual regulatory assessment that said Deutsche Bank hadn’t improved its risk management practices despite being under confidential …

Bloomberg The Bank of Japan (BOJ) will consider climate change in its monetary policy discussions, Governor Haruhiko Kuroda said in his clearest signal yet that the central bank is looking to support the battle against global warming. “We have a great interest” in climate change and its impact on the economy and the financial system, Kuroda said in an interview …

Bloomberg The Swiss National Bank’s (SNB) monetary policy is appropriate given there’s no great risk of spiralling inflation, its President Thomas Jordan said in an interview with Schweiz am Wochenende (SamW). “We think the risk of inflation is moderate in Switzerland,” he told the newspaper in an interview. “The strong currency acts as a damper on inflation, the franc is …

Bloomberg China’s central bank raised the limit on how much smaller lenders and foreign banks operating in the country can borrow offshore, a move that will ease a funding shortfall and give a push to expansion plans for firms such as HSBC Holdings. Their ability to borrow outside of China was expanded this week after the People’s Bank of China …