February, 2021

• 17 February

  BOJ must avoid ETF buys fuelling stock bubble: Ex-official

  

  Bloomberg A three-decade high for Japan’s soaring stocks is adding to pressure on the Bank of Japan (BOJ) to tweak its buying of exchange-traded funds (ETFs), according to the former head of its financial markets department. “Shares could be rising on a bubble and the BOJ could be helping inflate that bubble,” Hiromi Yamaoka said in an interview, the same …

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• 17 February

  Treasury yields hold near one-year high; stocks drop

  

  Bloomberg Treasury yields held near their highest in a year on Wednesday, while European stocks slipped as investors assessed the bond selloff and a busy day for earnings. The Stoxx 600 Index dropped for a second day, weighed down by retailers, despite some positive corporate news. Akzo Nobel NV rises after beating estimates and announcing plans to repurchase 1 billion …

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• 17 February

  Won falls prey to outflows as locals join foreigners’ exodus

  

  Bloomberg At first glance, the weakness in South Korea’s won is an anomaly. Risk appetite is picking up but the currency is heading south. The won, which is susceptible to swings in global sentiment, has dropped almost 2% versus the dollar since the start of the year. It’s underperforming all its emerging Asian peers just as global growth bets are …

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• 16 February

  Oil holds near $60 in New York as power crisis hits US supply

  

  Bloomberg Oil held gains in New York after rising above $60 a barrel for the first time in a year as a deepening energy crisis in the US disrupted crude production and forced the shutdown of some of the nation’s biggest refineries. As much as 1.7 million barrels a day of oil output has halted and deliveries via pipeline suspended …

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• 16 February

  OFID’s $20m loan to benefit 1.6m Kenyans

  VIENNA / WAM The OPEC Fund for International Development (OFID) has signed a $20 million public sector loan agreement with Kenya to increase regional connectivity, enhance trade and improve the socio-economic welfare of about 1.6 million people. The loan will finance the upgrading of the 90 km Samatar – Wajir Road, a part of the North and North-Eastern Development Initiative …

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• 16 February

  Germany seeks deal with Biden on controversial pipeline

  

  Bloomberg Germany wants to make a deal with the US in order to complete the controversial Nord Stream 2 gas project that has caused friction between the two countries. The 1,230-kilometre (764-mile) gas pipeline that’ll bring the fuel from Russia to Germany has been a persistent source of trans-Atlantic friction. Its construction was halted for a year after the US …

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• 16 February

  Global stocks set for longest winning streak in 17 years

  

  Bloomberg Global stocks are in the midst of the longest run of gains in 17 years as optimism over the economic recovery sweeps across markets. The MSCI benchmark for emerging and developed market stocks has risen for 12 straight sessions, while US equities were set to open higher after a public holiday. In Japan, the Nikkei 225 Stock Average extended …

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• 16 February

  HSBC among top bank share gainers in Asia on reflation bets

  

  Bloomberg HSBC Holdings Plc and Standard Chartered Plc’s Hong Kong shares are among top gainers of bank stocks across the region on optimism faster economic growth and higher interest rates will stoke profits. HSBC shares jumped as much as 6.9%, while Standard Chartered gained 6.3% on Tuesday after a two-day market close. The MSCI AC Asia Pacific Financials Index rise …

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• 16 February

  Imax leads China film stocks higher on record ticket sales

  Bloomberg Imax China Holding Inc. led a rally in Chinese entertainment stocks after data showed local box-office revenue hit a record high for the Lunar New Year. Ticket sales for the first five days of the Lunar New Year holidays starting Feb. 11 touched 5.7 billion yuan ($880 million), about 33% more than the same period in 2019, which was …

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• 15 February

  Bahrain’s Investcorp acquires industrial assets in South Wales

  

  BAHRAIN/ WAM Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, on Monday announced that one of Investcorp’s affiliates has acquired a portfolio of 13 multi-let industrial assets in South Wales. The acquisition continues Investcorp’s strategy of investing in industrial real estate and represents its first real estate investment in the Welsh market, the company …

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