November, 2022

• 30 November

  EU backs further delays to Hungary funding

  

  Bloomberg The European Commission recommended delaying the disbursement of crucial funding to Hungary, saying Prime Minister Viktor Orban’s government has failed to allay its concerns over graft and the erosion of the rule of law. The EU’s executive arm said member states should conditionally approve Hungary’s Covid-era recovery plan, but Budapest would first have to comply with a set of ...

  Read More »
• 30 November

  Thai court upholds key electoral changes as national vote looms

  

  Bloomberg Thailand’s constitutional court upheld a move by the majority of lawmakers to change key electoral rules that benefit bigger parties, clearing the last legal challenge ahead of the next general election expected early next year. The draft election bill requires parties to clinch more votes to get one of the 100 party-list seats in the 500-member House of Representatives ...

  Read More »
• 30 November

  Banks stuck with $42 billion debt seize chance to offload it

  

    Bloomberg Banks in the US and Europe with around $42 billion of buyout debt stuck on their balance sheets are making the most of their last chance to get rid of it this year. Stabilisation in the leveraged loan and high yield bond markets has led to an opening for deals — including for bonds and loans tied to ...

  Read More »
• 30 November

  China’s yuan extends advance as reopening bets boost sentiment

  

  Bloomberg The yuan extended gains, jumping to its strongest in nearly two weeks, as hopes over a relaxation of China’s Covid curbs stoked optimism about the country’s economy and fueled appetite for riskier assets. The currency surged as much as 1.1% to 7.0797 per dollar, as speculation over China reopening dominated market sentiment on Wednesday afternoon. The yuan has been ...

  Read More »
• 30 November

  HK dollar strengthens to past strong half of trading band

    Bloomberg The rally in the Hong Kong dollar extended, with the currency strengthening to the strong half of its trading band as rising borrowing costs discouraged traders to short it. The currency rose about 0.15% to 7.7986 per dollar Wednesday, passing the midpoint of its 7.75-7.85 trading band for the first time since February. The surge came as the ...

  Read More »
• 30 November

  HSBC surges in Hong Kong on dividend bets after Canada sale

  

  Bloomberg HSBC Holdings Plc shares rose after the lender agreed to sell its Canadian unit for C$13.5 billion ($10 billion) in cash and said it’s “proactively” considering a one-time dividend or fresh stock buyback. The shares gained 2.2% in Hong Kong, the biggest gain since November 15. The London-headquartered lender’s dividend payout is an important focus for Hong Kong’s retail ...

  Read More »
• 30 November

  Binance buys Japan crypto exchange service provider

  

  Bloomberg Binance, the world’s biggest cryptocurrency exchange, bought a Japan crypto exchange service provider to re-enter a market it said will play a “key role” in the future of cryptocurrency adoption. The firm acquired 100% of Sakura Exchange BitCoin, paving the way for it to enter Japan as a regulated entity, Binance said in a statement on Wednesday. The purchase ...

  Read More »
• 30 November

  Thailand central bank raises rate for a third time

    Bloomberg Thailand increased its key interest rate by a quarter point for a third straight meeting and raised its inflation estimate for 2023 while reiterating it’s ready to adjust the size and timing of its tightening. The Bank of Thailand’s monetary policy committee voted unanimously to raise the one-day repurchase rate by 25 basis points to 1.25% on Wednesday, ...

  Read More »
• 30 November

  Deutsche Bank recruits first base metals trader

    Bloomberg Deutsche Bank made its first hire of a base metals trader as the German lender plots a partial return to the business about a decade after pulling back. Thiebaud Format will join Deutsche Bank in London from BNP Paribas SA, according to people familiar with the matter. He will work on the existing precious metals desk but his ...

  Read More »
• 30 November

  Stocks in Asia beating global peers by the most since 1993

  

  Bloomberg November is turning out to be the best month for Asia stocks since early 1990s relative to their global peers. The MSCI Asia Pacific Index jumped 14% this month, set for its biggest jump since 1998, as benchmarks in markets from Hong Kong to the Philippines saw strong gains that cracked records held for at least a decade. The ...

  Read More »