In today’s briefing:
- Big Fines on Foreign Investment Banks for Naked Short Selling in Korea – Implications
- CX Daily: U.S. Widens China Trade Fight to Shipbuilding Which It Lost Decades Ago
- Australia RBA Cash Rate Target 4.35% (consensus 4.35%) in May-24
- UK Politics: The Third Way Renewed?
- Philippines CPI Inflation 3.8% y-o-y (consensus 4.1%) in Apr-24
Big Fines on Foreign Investment Banks for Naked Short Selling in Korea – Implications
- The FSS mentioned it has uncovered 211 billion won of naked short sales by Credit Suisse and 8 other global banks of Korea-listed stocks between 2021 and 2023.
- The current ban on short selling stocks could be extended to at least 1H 2025.
- The Korean government’s imposing these large fines on the foreign brokers is sending a message to the foreign brokers to not engage in naked short selling.
CX Daily: U.S. Widens China Trade Fight to Shipbuilding Which It Lost Decades Ago
- Shipbuilding /Cover Story: U.S. widens China trade fight to shipbuilding which it lost decades ago
- China-France /: Xi looks to cement friendship and enhance trust on France visit
- Hang Seng Index /: Beijing’s show of resolve helps drive Hang Seng on 10-session winning streak, analysts say
Australia RBA Cash Rate Target 4.35% (consensus 4.35%) in May-24
- The RBA held the cash rate at 4.35% amid ongoing but moderating inflation, particularly in the services sector, reflecting a cautious approach to ensure inflation returns to the 2-3% target range by the second half of 2025.
- Economic uncertainties, including persistent services inflation, global geopolitical risks, and the effects of previous rate hikes on consumption and economic growth, continue to influence the RBA’s policy decisions.
- The RBA maintains a flexible policy outlook, indicating that future rate adjustments will be data-driven and contingent upon evolving economic conditions and inflation trajectories, with a strong commitment to achieving its inflation target.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
UK Politics: The Third Way Renewed?
- The ‘battle for Labour’s soul’ will be determined by Sir Keir Starmer’s ambition.
- Starmer’s ambition is understated but undoubted.
- The outcome will also be influenced by the Third Way principle that ‘what matters is what works’.
Philippines CPI Inflation 3.8% y-o-y (consensus 4.1%) in Apr-24
- Philippines CPI inflation in April 2024 was 3.8% y-o-y, lower than the predicted 4.1%, showing a decrease from the previous period.
- The current CPI inflation rate is the highest since December 2023, yet it is 0.72 percentage points below the one-year average, indicating a slower price growth in the economy.
- The inflation rate is also 1.75 percentage points below the long-run average, indicating a significant deviation from the historical trend.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.
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