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International

Nikhil Nainan

EMERGING MARKETS-S.Korea, Taiwan shares shed 1%, lead Asia lower after Wall St tumble

Jan 21 2022

* Malaysia stocks heads for worst week since Aug 2020 * BI surprises with hefty RRR hike on Thursday * Analysts note omission of dovish line in BNM statement * China's yuan set for second week of gains By Nikhil Nainan BENGALURU, Jan 21 South Korea and Taiwan stocks fell more than 1% each on Friday, leading falls across Asia's emerging markets, after U.S. stocks took a hit overnight, while fears that the Federal Reserve may tighten policy more aggressively kept a lid on currencies. Shares in Taiwan closed 1.8% lower, while in South Korea they slid as far as 1.5% to their lowest in more than a year - as their tech sectors caught the chill from the Nasdaq, which has found itself in correction territory. The U.S. dollar took a breather on Friday as investors picked up Treasuries, stalling a rise in yields, though markets have now priced in four interest rate hikes by the Fed this year, including one as soon as March. The prospect has also placed Asia's central banks on watch, leaving policymakers with the difficult decisions of protecting economic recovery in their countries while maintaining stability and stemming potential outflows. Emerging Asian "economies are not only disadvantaged in access to dollar funding under constraint, but are acutely vulnerable to capital outflows from a double whammy of rising long-end 'risk-free' UST (Treasury) yields and rising 'risk premium'," Mizuho said in a note. On Thursday, central banks in Malaysia and Indonesia held their key policy rates steady ahead of the Fed's Jan. 25-26 meeting, where investors will be keenly watching out for hawkish signals. The rupiah, a popular carry trade for investors, dipped 0.1%, while the ringgit firmed 0.1%. Some analysts and economists detected a potential shift in Bank Negara Malaysia (BNM) from its policy statement. "The central bank omitted a relatively dovish sentence from its statement, which we interpret as suggesting BNM no longer views policy easing as being more likely than tightening in the near term," analysts at Barclays said. Stocks in Kuala Lumpur dipped on Friday and were heading for their worst week since August 2020 with a more than 2% drop. Bank Indonesia also surprised with 300 basis points of staggered hikes in the reserve requirement ratio for banks over the next eight months in one of its first concrete signs of monetary tightening. After a week that saw data show weakening consumption in China, the central bank stepped up efforts to ease policy, with stocks set to snap two straight weekly losses and eke out 0.1% gain. Despite policy easing, the yuan is set to book a second weekly gain. Sources told Reuters that China will cut the interest rates on a key monetary policy tool by which financial institutions can obtain temporary liquidity from the central bank. HIGHLIGHTS: ** Malaysian consumer prices in December rose slightly more than expected ** Malaysia's 3-year benchmark yield is down 1.6 basis points at 2.834% ** Indonesian 3-year benchmark yields are up 10.6 basis points at 4.429%​​ ** Pegasus Asia, Tikehau Capital-backed SPAC, debuts in Singapore Asia stock indexes and currencies at 0626 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD % DAILY % YTD % % Japan +0.23 +1.10 -0.90 -4.41 China +0.22 +0.22 -0.76 -3.07 India -0.04 -0.27 -0.88 1.42 Indonesia -0.08 -0.68 0.54 1.23 Malaysia +0.08 -0.47 -0.26 -0.89 Philippines -0.02 -0.84 0.75 2.40 S.Korea -0.15 -0.47 -1.11 -4.93 Singapore +0.11 +0.25 -0.09 5.39 Taiwan -0.29 -0.15 -1.75 -1.75 Thailand -0.30 +1.03 -0.45 -0.49 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Simon Cameron-Moore and Uttaresh.V)

EMERGING MARKETS-S.Korea, Taiwan shares shed 1%, lead Asia lower after Wall St tumble

Jan 21 2022

* Malaysia stocks heads for worst week since Aug 2020 * BI surprises with hefty RRR hike on Thursday * Analysts note omission of dovish line in BNM statement * China's yuan set for second week of gains By Nikhil Nainan BENGALURU, Jan 21 South Korea and Taiwan stocks fell more than 1% each on Friday, leading falls across Asia's emerging markets, after U.S. stocks took a hit overnight, while fears that the Federal Reserve may tighten policy more aggressively kept a lid on currencies. Shares in Taiwan closed 1.8% lower, while in South Korea they slid as far as 1.5% to their lowest in more than a year - as their tech sectors caught the chill from the Nasdaq, which has found itself in correction territory. The U.S. dollar took a breather on Friday as investors picked up Treasuries, stalling a rise in yields, though markets have now priced in four interest rate hikes by the Fed this year, including one as soon as March. The prospect has also placed Asia's central banks on watch, leaving policymakers with the difficult decisions of protecting economic recovery in their countries while maintaining stability and stemming potential outflows. Emerging Asian "economies are not only disadvantaged in access to dollar funding under constraint, but are acutely vulnerable to capital outflows from a double whammy of rising long-end 'risk-free' UST (Treasury) yields and rising 'risk premium'," Mizuho said in a note. On Thursday, central banks in Malaysia and Indonesia held their key policy rates steady ahead of the Fed's Jan. 25-26 meeting, where investors will be keenly watching out for hawkish signals. The rupiah, a popular carry trade for investors, dipped 0.1%, while the ringgit firmed 0.1%. Some analysts and economists detected a potential shift in Bank Negara Malaysia (BNM) from its policy statement. "The central bank omitted a relatively dovish sentence from its statement, which we interpret as suggesting BNM no longer views policy easing as being more likely than tightening in the near term," analysts at Barclays said. Stocks in Kuala Lumpur dipped on Friday and were heading for their worst week since August 2020 with a more than 2% drop. Bank Indonesia also surprised with 300 basis points of staggered hikes in the reserve requirement ratio for banks over the next eight months in one of its first concrete signs of monetary tightening. After a week that saw data show weakening consumption in China, the central bank stepped up efforts to ease policy, with stocks set to snap two straight weekly losses and eke out 0.1% gain. Despite policy easing, the yuan is set to book a second weekly gain. Sources told Reuters that China will cut the interest rates on a key monetary policy tool by which financial institutions can obtain temporary liquidity from the central bank. HIGHLIGHTS: ** Malaysian consumer prices in December rose slightly more than expected ** Malaysia's 3-year benchmark yield is down 1.6 basis points at 2.834% ** Indonesian 3-year benchmark yields are up 10.6 basis points at 4.429%​​ ** Pegasus Asia, Tikehau Capital-backed SPAC, debuts in Singapore Asia stock indexes and currencies at 0626 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD % DAILY % YTD % % Japan +0.23 +1.10 -0.90 -4.41 China +0.22 +0.22 -0.76 -3.07 India -0.04 -0.27 -0.88 1.42 Indonesia -0.08 -0.68 0.54 1.23 Malaysia +0.08 -0.47 -0.26 -0.89 Philippines -0.02 -0.84 0.75 2.40 S.Korea -0.15 -0.47 -1.11 -4.93 Singapore +0.11 +0.25 -0.09 5.39 Taiwan -0.29 -0.15 -1.75 -1.75 Thailand -0.30 +1.03 -0.45 -0.49 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Simon Cameron-Moore and Uttaresh.V)

EMERGING MARKETS-Thai baht gains on quarantine-free travel hopes; Asia FX gains

Jan 17 2022

By Nikhil Nainan BENGALURU, Jan 18 Thailand's baht rose on Tuesday on hopes that the tourism-reliant country waives quarantine for vaccinated visitors again, while its emerging market peers gained on a U.S. dollar unperturbed by a rise in Treasury yields. Treasuries rose along the curve during Asia hours, with two-year yields, which track short-term rate expectations, crossing 1% for the first time since Feb. 2020, as investors brace for a more hawkish Federal Reserve. Emerging Asian stock markets were mostly higher, though barring China and the Philippines, gains were largely capped to below half a percent. Investors are eyeing the Fed's Jan. 25-26 meeting following a chorus of hawkish statements by officials in recent weeks. While markets do not expect an interest rate hike next week, bets are growing that the central bank will start tightening in March. In Thailand, the government is considering bringing back a quarantine waiver for vaccinated visitors, its health minister said. If approved, the waiver could begin by Feb. 1, he added. "Expect the baht to benefit from this feel-good development," analysts at OCBC said. The baht gained as much as 0.7% early on to its highest level since Nov. 22 last year, before paring much of those gains to trade 0.3% higher. Stocks also briefly scaled a 2019-high. "This push may well be speculative, as there are still no signs that tourist inflows will return in sufficiently large numbers to justify sustained baht appreciation," OCBC added. Stocks in Shanghai climbed 1%, a day after better-than-expected economic growth in the fourth quarter was partly overshadowed by weak retail sales. The central bank had also cut a key lending rate and analysts expect more to come. China's top economic planner said on Tuesday that policymakers will quickly roll out more measures to boost demand. "The biggest downside risk to the market's view on Fed hikes lies with China," Eugene Leow, a senior rates strategist at DBS said, referring to headwinds facing the world's second-largest economy. "While GDP growth did surprise on the upside and the PBoC have taken steps to ease liquidity and cut policy rates, there is still significant stress in property credits." In South Korea, the won advanced 0.4% while stocks dropped 0.3%. Retail subscriptions open for LG Energy Solution's $10.8 billion initial public offering and close on Wednesday. Philippine shares regained most of the last two sessions' losses, gaining 1% with Aboitiz Power up the most. Central banks in Malaysia and Indonesia end will conclude two-day policy meetings on Thursday, though no change in policy is expected. Markets in Malaysia were closed for a holiday. HIGHLIGHTS: ** Indonesian 10-year benchmark yields up 1 basis points at 6.398% ** JG Summit Holdings Inc and International Container Terminal Services Inc were also among the top gainers in the Philippines ** The Bank of Japan upgraded its inflation forecasts and maintained its ultra-loose monetary policy Asia stock indexes and currencies at 0334 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD % DAILY YTD % % % Japan -0.24 +0.18 0.85 -0.76 China +0.21 +0.21 1.01 -1.71 India +0.00 +0.12 0.00 5.50 Indonesia +0.03 -0.42 -0.60 0.36 Malaysia - - - - Philippines -0.21 -0.70 0.98 2.42 S.Korea +0.42 +0.08 -0.28 -3.22 Singapore +0.09 +0.16 0.27 5.55 Taiwan +0.15 +0.40 0.09 1.77 Thailand +0.30 +1.34 0.29 1.45 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Kim Coghill)

EMERGING MARKETS-Thai baht gains on quarantine-free travel hopes; Asia FX gains

Jan 17 2022

By Nikhil Nainan BENGALURU, Jan 18 Thailand's baht rose on Tuesday on hopes that the tourism-reliant country waives quarantine for vaccinated visitors again, while its emerging market peers gained on a U.S. dollar unperturbed by a rise in Treasury yields. Treasuries rose along the curve during Asia hours, with two-year yields, which track short-term rate expectations, crossing 1% for the first time since Feb. 2020, as investors brace for a more hawkish Federal Reserve. Emerging Asian stock markets were mostly higher, though barring China and the Philippines, gains were largely capped to below half a percent. Investors are eyeing the Fed's Jan. 25-26 meeting following a chorus of hawkish statements by officials in recent weeks. While markets do not expect an interest rate hike next week, bets are growing that the central bank will start tightening in March. In Thailand, the government is considering bringing back a quarantine waiver for vaccinated visitors, its health minister said. If approved, the waiver could begin by Feb. 1, he added. "Expect the baht to benefit from this feel-good development," analysts at OCBC said. The baht gained as much as 0.7% early on to its highest level since Nov. 22 last year, before paring much of those gains to trade 0.3% higher. Stocks also briefly scaled a 2019-high. "This push may well be speculative, as there are still no signs that tourist inflows will return in sufficiently large numbers to justify sustained baht appreciation," OCBC added. Stocks in Shanghai climbed 1%, a day after better-than-expected economic growth in the fourth quarter was partly overshadowed by weak retail sales. The central bank had also cut a key lending rate and analysts expect more to come. China's top economic planner said on Tuesday that policymakers will quickly roll out more measures to boost demand. "The biggest downside risk to the market's view on Fed hikes lies with China," Eugene Leow, a senior rates strategist at DBS said, referring to headwinds facing the world's second-largest economy. "While GDP growth did surprise on the upside and the PBoC have taken steps to ease liquidity and cut policy rates, there is still significant stress in property credits." In South Korea, the won advanced 0.4% while stocks dropped 0.3%. Retail subscriptions open for LG Energy Solution's $10.8 billion initial public offering and close on Wednesday. Philippine shares regained most of the last two sessions' losses, gaining 1% with Aboitiz Power up the most. Central banks in Malaysia and Indonesia end will conclude two-day policy meetings on Thursday, though no change in policy is expected. Markets in Malaysia were closed for a holiday. HIGHLIGHTS: ** Indonesian 10-year benchmark yields up 1 basis points at 6.398% ** JG Summit Holdings Inc and International Container Terminal Services Inc were also among the top gainers in the Philippines ** The Bank of Japan upgraded its inflation forecasts and maintained its ultra-loose monetary policy Asia stock indexes and currencies at 0334 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY YTD % DAILY YTD % % % Japan -0.24 +0.18 0.85 -0.76 China +0.21 +0.21 1.01 -1.71 India +0.00 +0.12 0.00 5.50 Indonesia +0.03 -0.42 -0.60 0.36 Malaysia - - - - Philippines -0.21 -0.70 0.98 2.42 S.Korea +0.42 +0.08 -0.28 -3.22 Singapore +0.09 +0.16 0.27 5.55 Taiwan +0.15 +0.40 0.09 1.77 Thailand +0.30 +1.34 0.29 1.45 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Kim Coghill)

EMERGING MARKETS-Asian markets tepid as mixed China data weighs; S.Korean stocks fall

Jan 17 2022

* China Q4 GDP beats forecast, retail sales disappoint * South Korea shares hit 1-1/2-month low * Indonesia, Malaysia FX dip; central banks meet this week By Nikhil Nainan Jan 17 A few Southeast Asian stock markets fell on Monday as Chinese data signalled the economic fallout of the COVID-19 curbs, prompting further monetary easing, while South Korean stocks dropped more than 1% ahead of a highly anticipated mega-IPO. Though China's fourth-quarter gross domestic product beat forecasts, it was still at its weakest in 1-1/2 years, while December retail sales disappointed, highlighting the impact from strict curbs on the world's second-largest economy. Any fallout to riskier assets, however, was limited by a surprise cut to some key lending rates by China's central bank that analysts say could just be the start. "We expect Beijing to conduct more decisive policy easing to generate a growth rebound to above 5.5% ahead of the Party Congress later this year," analysts at HSBC said. Stocks in Kuala Lumpur, Jakarta and Manila fell more than half a percent each, while other emerging stock markets in Asia posted minor gains. In currency markets, the rupiah and ringgit dipped, while the won dropped 0.4%. Chinese stocks rose 0.6%, while the yuan edged higher. "We think strong FX inflows might continue on the back of an elevated goods trade surplus and foreign buying of CNY assets, and thus, sudden CNY depreciation pressures and capital outflow pressures remain low," Goldman Sachs analysts said. In South Korea, battery maker LG Energy Solutions has attracted record demand for its $10.8 billion IPO, with books opening for retail investors between Jan. 18-19 and the company's listing set for Jan. 27. Stocks in Seoul fell 1.1% to a 1-1/2-month low, as traders reduced positions ahead of the IPO. Also weighing on South Korean stocks, the central bank kept the door open for further monetary tightening after raising rates to pre-pandemic levels last week to stem inflation risks. Investors were also keeping an eye on other central bank meetings in Asia this week. The Bank of Japan is expected to upgrade its price forecast and keep policy ultra-loose when it concludes a two-day meeting on Tuesday. Central banks in Indonesia and Malaysia will hold their meetings later this week, though no policy change is expected. Investors are also bracing for the Federal Reserve's decision following the Jan. 25-26 policy meeting, after recent hawkish comments have seen the market almost fully price in a first rate hike for March and rates of 1.0% by the year-end. . HIGHLIGHTS ** AirAsia fell more than 4%, extending losses, as the airline continues to work to "regularise" its finances to shed the PN17 tag ** China Q4 GDP grows 4.0% y/y vs 3.6% forecast in Reuters poll ** Indonesia Dec trade surplus at $1 bln, smaller than expected Asia stock indexes and currencies at 0644 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY % YTD % Japan -0.24 +0.52 0.74 -1.59 China +0.14 +0.14 0.59 -2.69 India -0.22 +0.02 0.30 5.51 Indonesia -0.19 -0.50 -0.67 1.02 Malaysia -0.12 -0.43 -0.71 0.44 Philippines +0.08 -0.55 -0.52 1.42 S.Korea -0.45 -0.34 -1.09 -2.94 Singapore -0.11 +0.02 0.06 5.13 Taiwan +0.15 +0.34 0.66 1.68 Thailand -0.39 +0.18 0.16 1.07 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Ana Nicolaci da Costa and Sherry Jacob-Phillips)

EMERGING MARKETS-Asian markets tepid as mixed China data weighs; S.Korean stocks fall

Jan 17 2022

* China Q4 GDP beats forecast, retail sales disappoint * South Korea shares hit 1-1/2-month low * Indonesia, Malaysia FX dip; central banks meet this week By Nikhil Nainan Jan 17 A few Southeast Asian stock markets fell on Monday as Chinese data signalled the economic fallout of the COVID-19 curbs, prompting further monetary easing, while South Korean stocks dropped more than 1% ahead of a highly anticipated mega-IPO. Though China's fourth-quarter gross domestic product beat forecasts, it was still at its weakest in 1-1/2 years, while December retail sales disappointed, highlighting the impact from strict curbs on the world's second-largest economy. Any fallout to riskier assets, however, was limited by a surprise cut to some key lending rates by China's central bank that analysts say could just be the start. "We expect Beijing to conduct more decisive policy easing to generate a growth rebound to above 5.5% ahead of the Party Congress later this year," analysts at HSBC said. Stocks in Kuala Lumpur, Jakarta and Manila fell more than half a percent each, while other emerging stock markets in Asia posted minor gains. In currency markets, the rupiah and ringgit dipped, while the won dropped 0.4%. Chinese stocks rose 0.6%, while the yuan edged higher. "We think strong FX inflows might continue on the back of an elevated goods trade surplus and foreign buying of CNY assets, and thus, sudden CNY depreciation pressures and capital outflow pressures remain low," Goldman Sachs analysts said. In South Korea, battery maker LG Energy Solutions has attracted record demand for its $10.8 billion IPO, with books opening for retail investors between Jan. 18-19 and the company's listing set for Jan. 27. Stocks in Seoul fell 1.1% to a 1-1/2-month low, as traders reduced positions ahead of the IPO. Also weighing on South Korean stocks, the central bank kept the door open for further monetary tightening after raising rates to pre-pandemic levels last week to stem inflation risks. Investors were also keeping an eye on other central bank meetings in Asia this week. The Bank of Japan is expected to upgrade its price forecast and keep policy ultra-loose when it concludes a two-day meeting on Tuesday. Central banks in Indonesia and Malaysia will hold their meetings later this week, though no policy change is expected. Investors are also bracing for the Federal Reserve's decision following the Jan. 25-26 policy meeting, after recent hawkish comments have seen the market almost fully price in a first rate hike for March and rates of 1.0% by the year-end. . HIGHLIGHTS ** AirAsia fell more than 4%, extending losses, as the airline continues to work to "regularise" its finances to shed the PN17 tag ** China Q4 GDP grows 4.0% y/y vs 3.6% forecast in Reuters poll ** Indonesia Dec trade surplus at $1 bln, smaller than expected Asia stock indexes and currencies at 0644 GMT COUNTRY FX RIC FX FX INDEX STOCKS STOCKS DAILY % YTD % DAILY % YTD % Japan -0.24 +0.52 0.74 -1.59 China +0.14 +0.14 0.59 -2.69 India -0.22 +0.02 0.30 5.51 Indonesia -0.19 -0.50 -0.67 1.02 Malaysia -0.12 -0.43 -0.71 0.44 Philippines +0.08 -0.55 -0.52 1.42 S.Korea -0.45 -0.34 -1.09 -2.94 Singapore -0.11 +0.02 0.06 5.13 Taiwan +0.15 +0.34 0.66 1.68 Thailand -0.39 +0.18 0.16 1.07 (Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by Ana Nicolaci da Costa and Sherry Jacob-Phillips)

POLL-Investors turn long on India's rupee after 4 months; rupiah short bets cut

Jan 13 2022

* Rupee gains nearly 3% since mid-Dec; investors turn long * Short positions on Indonesia's rupiah lowest in 1-month * Short bets on Singapore's dollar, Malaysia ringgit also cut By Nikhil Nainan Jan 13 Investors switched to long positions on India's rupee for the first time since September, on hopes that the economy may be able to withstand the worst of the Omicron surge and bets that U.S. rate hikes are largely priced in, a Reuters poll found. Broadly, investors stayed bearish on most Asian emerging currencies, the poll of 12 respondents showed, as the spread of Omicron threatens to slow the region's recovery, although, so far, emerging equities have remained fairly resilient. High inflation in the United States may also prompt the Federal Reserve to hasten its interest rate hikes, with the central bank signalling in December that they could raise rates three times this year. "Although these are headwinds, we do not think the market is overly complacent as risks are likely to be moderate (Omicron) and/or have been largely priced already (Federal Reserve)," analysts at Barclays said earlier this week. So far in India, which is in the midst of a third wave of the COVID-19 pandemic, states have imposed some restrictions on daily life, but have not enforced economically damaging lockdowns seen in previous waves. Asia's third-largest economy grew at the fastest pace https://www.reuters.com/world/india/indias-economy-grows-84yy-july-sept-quarter-govt-2021-11-30 for any major economy between July and September, as businesses reopened and government spending strengthened. Barclays added that it does not see tighter Fed policy, led by U.S. growth outperformance, driving sustained dollar strength, and remains long on the rupee. The rupee has appreciated close to 3% since mid-December. Even in Indonesia, whose bond markets are susceptible to foreign flows, the rupiah has not been too volatile. Traders trimmed their short bets on the rupiah as local demand recovers and vaccination rates rise. Standard Chartered said in a note that given the high vaccination rates and data suggesting the Omicron variant is less severe than other variants, it may allow for the Indonesian economy to open further. It expects the rupiah to strengthen to 14,000 by the end of the first quarter. The currency was last trading around 14,305 on Thursday. Elsewhere, investors lowered short bets on the Singapore dollar and Malaysian ringgit, while raising bets on the Philippine peso and Thai baht. The Asian currency positioning poll is focused on what analysts and fund managers believe are the current market positions in nine Asian emerging market currencies: the Chinese yuan, South Korean won, Singapore dollar, Indonesian rupiah, Taiwan dollar, Indian rupee, Philippine peso, Malaysian ringgit and the Thai baht. The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3. A score of plus 3 indicates the market is significantly long U.S. dollars. The figures include positions held through non-deliverable forwards (NDFs). The survey findings are provided below (positions in U.S. dollar versus each currency): DATE CNY KRW SGD IDR TWD INR MYR PHP THB 13-Jan-22 -0.73 0.97 0.22 0.20 -0.15 -0.29 0.28 0.71 0.61 16-Dec-21 -1.07 0.53 0.67 0.54 0.09 1.07 0.84 0.2 0.36 02-Dec-21 -0.88 1.06 0.58 0.15 0 0.47 0.28 0.26 0.71 18-Nov-21 -0.87 0.48 0.07 -0.72 -0.15 0.08 -0.04 0.24 0.12 04-Nov-21 -0.51 0.63 -0.09 -0.41 0.1 0.54 -0.07 0.27 0.66 21-Oct-21 -0.55 0.91 -0.27 -1.12 0.3 0.7 0.1 0.44 1.1 07-Oct-21 0.27 1.35 0.2 -0.29 0.28 0.1 0.3 0.84 1.2 23-Sep-21 0.25 0.96 -0.15 -0.5 -0.2 -0.45 0.25 0.56 0.75 09-Sep-21 -0.09 0.33 -0.36 -0.44 -0.69 -0.88 0.23 0.4 0.12 26-Aug-21 0.43 0.87 0.47 0.18 0.33 -0.08 1.19 0.78 1.35 (Reporting by Nikhil Kurian Nainan in Bengaluru; editing by Uttaresh.V)

UPDATE 5-Australia's CSL to buy Swiss drugmaker Vifor for $11.7 bln

Dec 14 2021

* Vifor shares up more than a third since early Dec (Adds analyst comment, updates shares)

Digital Core REIT to raise $600 million in Singapore's biggest IPO this year

Nov 29 2021

Digital Core REIT, sponsored by U.S.-listed Digital Realty Trust, is set to raise $600 million in an initial public offering (IPO) in Singapore, the largest listing in the city-state this year, the company said in its prospectus on Monday.

Exclusive-Investor Warburg cuts Ant valuation by 15% to below $200 billion - source

Nov 24 2021

HONG KONG (Reuters) -Warburg Pincus, a major global investor in Ant Group, has cut its valuation of the Chinese fintech company by 15% to below $200 billion due to risks from a restructuring at the Hangzhou-based firm, a source with direct knowledge of the matter said.

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