November, 2021

• 24 November

  Apple posts longest rally since July as tech broadly falls

  Bloomberg Apple Inc shares closed at a record high, with the iPhone maker bucking broad-based weakness in the tech sector to rise for a seventh straight session. The stock rises as much as 3.2% but pared much of that advance in afternoon trading, ending with a gain of 0.3%. The company’s seven-day rally represents its longest streak of positive sessions …

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• 22 November

  China FX panel urges banks to cap speculation as yuan surges

  

  Bloomberg An organisation formed by key participants in China’s currency market urged banks to limit speculative foreign-exchange trading after the yuan climbed to a six-year high versus peers. The China Foreign Exchange Committee (CFEC) — founded under guidance from the central bank — encouraged lenders to be risk-neutral when trading foreign exchange for themselves and for clients, according to people …

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• 22 November

  OCBC mulls setting up crypto exchange: CEO

  

  Bloomberg Overseas-Chinese Banking Corp (OCBC) is considering whether to set up a crypto exchange as Southeast Asia’s second-largest lender seeks to respond to customer needs, Chief Executive Officer Helen Wong said. “We are looking at it and seriously there are some work being done in the bank,” Wong told Haslinda Amin in a Bloomberg Television interview, when asked whether the …

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• 22 November

  JPMorgan to reimburse $5,000 to HK bankers for quarantine

  

  Bloomberg JPMorgan Chase & Co is offering to reimburse Hong Kong employees up to $5,000 to compensate for their quarantine stay as the financial hub sticks to its zero-Covid policy. All Hong Kong-based employees who are executive directors and below may claim the amount for a single quarantine stay for personal trips to visit immediate family members, which includes spouses, …

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• 22 November

  Scotiabank plans phased return to office for HQ staff

  

  Bloomberg Bank of Nova Scotia plans to start a phased return-to-office plan for headquarters employees who are still working remotely on January 17, marking the first of Canada’s largest banks to set a specific date for a broad return. The return will be staggered for different groups, and the majority of head-office employees will be working in a hybrid model, …

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• 22 November

  Kiwi set to recover from sharp selloff

  Bloomberg The New Zealand dollar looks poised to recover from its sharp selloff this month, with technical support, a yield advantage over the US and hedge-fund bets pointing to gains in the kiwi ahead of a pivotal central bank decision. A 50 basis points hike by the Reserve Bank of New Zealand could amplify gains, while a 25 basis points …

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• 22 November

  Bailey justifies BOE stance, says inflation risks are two-sided

  

  Bloomberg UK economic activity is slowing and supply-side issues are stoking prices, underlining the “two-sided” debate over inflation, Bank of England (BOE) Governor Andrew Bailey said. Reinforcing comments from Chief Economist Huw Pill, Bailey said it’s not the bank’s job to fix supply chain issues that have hampered economies around the world. “The proximate cause of many of these inflation …

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• 22 November

  US futures jump as China bets calm cautious mood

  

  Bloomberg US equity futures rise as Chinese signals for possible easing measures outweighed concern over virus curbs in Europe. European stocks were boosted by deal activity. December contracts on the S&P 500 and Nasdaq 100 Index rise 0.3% each after a cautious week that saw the benchmark gauge underperform the technology measure. Telecom Italia SpA jumped as much as 30% …

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• 22 November

  JD.com, NetEase to get Hong Kong liquidity boost from MSCI shift

  

  Bloomberg MSCI Inc’s decision to start tracking internet giants JD.com Inc and NetEase Inc. via their Hong Kong shares rather than American Depositary Receipts may reinforce a gradual shift in liquidity away from the US for Chinese stocks. The move comes amid heightened tension between the US and China over listing rules that is seeing some firms favour security at …

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• 22 November

  Saudi Arabia’s Tadawul looks to raise AED3.67b from its IPO

  

  Bloomberg Saudi Tadawul Group Holding is seeking to raise as much as AED3.67 billion ($1 billion) after setting the price range for an initial public offering (IPO) at 95 riyals ($25.32) to 105 riyals per share, the company said on Sunday. The Riyadh-based bourse, on which oil giant Saudi Aramco trades, plans to sell a 30% stake, or 36 million …

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