Chinese stock exchanges are limiting mainland investors' access to Hong Kong-listed firms. ASIFMA's Eugenie Shen: this "has ramifications for the future of Hong Kong's ability to attract companies from abroad".
The European Union is pushing China to open its economy to foreign investments and help restore the international trade order following US President Donald Trump's tariffs on US trade allies. The EU has signed a trade deal with Japan and started free-trade talks with Australia and New Zealand.
The Securities and Exchange Board of India's P.K. Bindlish said the regulator is finalizing guidelines for allowing mutual funds to invest in India's commodity derivatives market and will consider indices for other products at a later date. SEBI will also establish warehousing norms for nonagricultural commodities, Bindlish said.
Many counterparties that fall under the Basel Committee on Banking Supervision's uncleared margin rules from next year will be unable to achieve compliance by their relevant phase-in dates, according to a joint report from ISDA and SIFMA. "If an immediate effective implementation program is not adopted by newly in scope counterparties and regulators and third-party service providers... market disruptions may ensue," notes the report.
David Harding, founder of the Winton Fund, discusses the reorientation of his fund away from trend-following and how his decision-making is based on his view that "there are no immutable laws in finance." Harding says trend-following is "your enemy and your friend at the same time."
More than 50% of hedge funds are using artificial intelligence or machine learning in their investment processes, with 58% of the funds saying they introduced AI more than three years ago. Among those funds polled by BarclayHedge, 67% are using the technology to generate trading ideas, while just over a quarter allow it to actually execute trades.
The Asian liquefied natural gas derivatives market has seen a six-fold jump in volume in the past 18 months, sparked by a surge in LNG hedging due to recent structural changes to the physical gas market. "In order to manage risk in this new landscape, it's becoming increasingly important for Asian players to be able to leverage hedging instruments that reflect regional pricing dynamics," says Deloitte's Bernadette Cullinane.
Farfetch, a high-end e-commerce startup that reportedly is putting together an initial public offering that could value it at roughly $6 billion, is buying marketing company CuriosityChina. Farfetch plans to integrate CuriosityChina's technology into its white-label API, which lets fashion labels and boutiques integrate their merchandise with Farfetch's platform.
Tilray, a Canadian medical marijuana startup that has been in business for five years, raised $153 million in its Nasdaq initial public offering. The shares priced at $17 and closed at $22.39 on the first day of trading.
Personal finance startup Even, which runs an app that helps working-class people manage their money, raised $40 million in its most recent funding round. The company is using artificial intelligence to improve its budgeting tool.