*On this week’s market summary:*
💡1. Goldman Sachs has invested £50m in UK digital bank Starling, as the start-up looks to ramp up growth and bring in significant investors ahead of an eventual initial public offering. Starling on Monday said the cash injection would be treated as an “extension” of the £272m funding round it announced last month, which valued the company at about £1.1bn. The investment by the Wall Street bank — which has been working on its own digital retail offering — follows speculation last year that Starling could be a takeover target and had attracted interest from rivals such as JPMorgan.
💡2. Hong Kong stocks rebounded from their biggest setback in a month amid signs of better corporate earnings, while an overnight rally in US equities helped shore up buying sentiment. The Hang Seng Index added 0.5 per cent to 28,754.82 at the local noon break on Thursday. The gauge slipped 1.8 per cent a day earlier for the biggest loss since March 24 amid concerns about rising Covid-19 cases. China’s Shanghai Composite Index slipped 0.1 per cent. China Life Insurance rose 1.7 per cent, after saying first-quarter profit may have risen as much as 75 per cent from a year ago. China Unicom was also among the gainers, rising by 1.5 per cent.
💡3. Buyers from Hong Kong are expected to recharge demand for homes in the Greater Bay Area as cheaper loans and seamless cross-border remittances added to the appeal of working and living in the region. Industrial and Commercial Bank of China (Asia), the local unit of China’s biggest lender by assets, said demand from local buyers for mortgage financing of Bay area homes surged last quarter as the economies in mainland and Hong Kong showed signs of recovery following forecasts for annual growth in 2021.
💡4. Hong Kong stocks rose for a third day, lifting the benchmark to a four-week high as Meituan climbed after unveiling an almost US$10 billion fundraising. Alibaba Group Holding weighed on market sentiment. The Hang Seng Index added 0.1 per cent at 29,135.73 at the close of Tuesday trading, after swinging between gains and losses. The gauge climbed to a four-week high on Monday. The Shanghai Composite Index fell 0.1 per cent to 3,472.94. Meituan jumped 1.5 per cent to HK$293.60 after disclosing a plan to sell shares and convertible bonds worth US$9.6 billion to fund research and development in autonomous delivery vehicles, drone delivery and other cutting-edge technology
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One of the must-ask interview questions for banking and finance is: “Have you read any news recently?”, with the follow-up questions: “How would you link this news to the market and what investment suggestions would you give to your clients based on this news?” .
Showing your market sense and ability to provide feasible investment ideas would help to differentiate you from other candidates. Therefore, apart from the weekly news update / investment insights, we have also generated this Weekly Market Summary for you to have a quick understanding of the market development and tips to answer some hot discussion topics. Take a look of the summary and WhatsApp us in the group if you have questions.
💡1. Goldman Sachs has invested £50m in UK digital bank Starling, as the start-up looks to ramp up growth and bring in significant investors ahead of an eventual initial public offering. Starling on Monday said the cash injection would be treated as an “extension” of the £272m funding round it announced last month, which valued the company at about £1.1bn. The investment by the Wall Street bank — which has been working on its own digital retail offering — follows speculation last year that Starling could be a takeover target and had attracted interest from rivals such as JPMorgan.
💡2. Hong Kong stocks rebounded from their biggest setback in a month amid signs of better corporate earnings, while an overnight rally in US equities helped shore up buying sentiment. The Hang Seng Index added 0.5 per cent to 28,754.82 at the local noon break on Thursday. The gauge slipped 1.8 per cent a day earlier for the biggest loss since March 24 amid concerns about rising Covid-19 cases. China’s Shanghai Composite Index slipped 0.1 per cent. China Life Insurance rose 1.7 per cent, after saying first-quarter profit may have risen as much as 75 per cent from a year ago. China Unicom was also among the gainers, rising by 1.5 per cent.
💡3. Buyers from Hong Kong are expected to recharge demand for homes in the Greater Bay Area as cheaper loans and seamless cross-border remittances added to the appeal of working and living in the region. Industrial and Commercial Bank of China (Asia), the local unit of China’s biggest lender by assets, said demand from local buyers for mortgage financing of Bay area homes surged last quarter as the economies in mainland and Hong Kong showed signs of recovery following forecasts for annual growth in 2021.
💡4. Hong Kong stocks rose for a third day, lifting the benchmark to a four-week high as Meituan climbed after unveiling an almost US$10 billion fundraising. Alibaba Group Holding weighed on market sentiment. The Hang Seng Index added 0.1 per cent at 29,135.73 at the close of Tuesday trading, after swinging between gains and losses. The gauge climbed to a four-week high on Monday. The Shanghai Composite Index fell 0.1 per cent to 3,472.94. Meituan jumped 1.5 per cent to HK$293.60 after disclosing a plan to sell shares and convertible bonds worth US$9.6 billion to fund research and development in autonomous delivery vehicles, drone delivery and other cutting-edge technology
————————————————
One of the must-ask interview questions for banking and finance is: “Have you read any news recently?”, with the follow-up questions: “How would you link this news to the market and what investment suggestions would you give to your clients based on this news?” .
Showing your market sense and ability to provide feasible investment ideas would help to differentiate you from other candidates. Therefore, apart from the weekly news update / investment insights, we have also generated this Weekly Market Summary for you to have a quick understanding of the market development and tips to answer some hot discussion topics. Take a look of the summary and WhatsApp us in the group if you have questions.
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