*On this week’s market summary:*
💡1. Deutsche bank has recorded its highest quarterly profit since 2014, thanks to a boom in bond trading, strong results in asset management and a clean exit from its exposure to the implosion of family office Archegos Capital. Germany’s largest lender said on Wednesday it generated a net profit of €908m in the first three months of 2021, compared with a €43m loss in the same period a year earlier. Deutsche also lifted its full-year outlook for 2021, saying it expects revenue to be “essentially flat”, compared with previous guidance of a year-on-year drop. Shares in the lender were up more than 10 per cent to €11.27 in afternoon trading on Wednesday.
💡2. Stocks in Hong Kong and mainland China climbed in early Thursday trading as the Federal Reserve held a more upbeat assessment on the US economy and President Joe Biden unveiled a US$1.8 trillion social-support spending plan. The Hang Seng Index gained 1 per cent to 29,368.46 as at 10am local time. The index has risen more than 3 per cent this month, clawing back a 2.1 per cent setback in March. The Shanghai Composite Index added 0.3 per cent for a third day of gains, bringing April’s winning to 0.6 per cent.
💡3. Hong Kong’s largest developer by capitalisation and a prominent think tank are urging the local government to allow areas with low ecological value within the city’s wetlands buffer area to be developed into higher-density housing projects to alleviate housing shortage. Building density in the Wetland Buffer Zone, a strip of land measuring about 1,200 hectares (2,965 acres) about 500 metres away from the Deep Bay Wetland Conservation Area in the northwestern corner of Hong Kong’s New Territories near the border with Shenzhen, could be higher to accommodate medium-height apartments of about 15 stories, said Sun Hung Kai Properties (SHKP)’s planning and development project director Spencer Lu.
💡4. Hongkongers are optimistic about home prices rising this year, having adapted to the cyclical challenges of the Covid-19 pandemic, Citibank said. A third of respondents to the Citibank Q1 2021 Residential Property Ownership Survey said they believed that property prices would rise this year, up from 16 per cent in the same period last year, while 47 per cent expected them to remain stable, up from 28 per cent last year. The percentage of respondents that expected home prices to drop declined, from 57 per cent last year to 20 per cent this year.
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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. Deutsche bank has recorded its highest quarterly profit since 2014, thanks to a boom in bond trading, strong results in asset management and a clean exit from its exposure to the implosion of family office Archegos Capital. Germany’s largest lender said on Wednesday it generated a net profit of €908m in the first three months of 2021, compared with a €43m loss in the same period a year earlier. Deutsche also lifted its full-year outlook for 2021, saying it expects revenue to be “essentially flat”, compared with previous guidance of a year-on-year drop. Shares in the lender were up more than 10 per cent to €11.27 in afternoon trading on Wednesday.
💡2. Stocks in Hong Kong and mainland China climbed in early Thursday trading as the Federal Reserve held a more upbeat assessment on the US economy and President Joe Biden unveiled a US$1.8 trillion social-support spending plan. The Hang Seng Index gained 1 per cent to 29,368.46 as at 10am local time. The index has risen more than 3 per cent this month, clawing back a 2.1 per cent setback in March. The Shanghai Composite Index added 0.3 per cent for a third day of gains, bringing April’s winning to 0.6 per cent.
💡3. Hong Kong’s largest developer by capitalisation and a prominent think tank are urging the local government to allow areas with low ecological value within the city’s wetlands buffer area to be developed into higher-density housing projects to alleviate housing shortage. Building density in the Wetland Buffer Zone, a strip of land measuring about 1,200 hectares (2,965 acres) about 500 metres away from the Deep Bay Wetland Conservation Area in the northwestern corner of Hong Kong’s New Territories near the border with Shenzhen, could be higher to accommodate medium-height apartments of about 15 stories, said Sun Hung Kai Properties (SHKP)’s planning and development project director Spencer Lu.
💡4. Hongkongers are optimistic about home prices rising this year, having adapted to the cyclical challenges of the Covid-19 pandemic, Citibank said. A third of respondents to the Citibank Q1 2021 Residential Property Ownership Survey said they believed that property prices would rise this year, up from 16 per cent in the same period last year, while 47 per cent expected them to remain stable, up from 28 per cent last year. The percentage of respondents that expected home prices to drop declined, from 57 per cent last year to 20 per cent this year.
————————————————
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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