On this week’s market summary:
💡1. Deutsche Bank has told its roughly 1,500 US investment bank employees that they must be back in the office by early September as it became the latest Wall Street lender to spell out its return-to-work policy. In an internal memo, Drew Goldman, Deutsche’s head of investment banking coverage and advisory, and James Davies, the head of US investment banking, told staff that all of the bank’s American teams should aim to resume working in the office no later than the Labor Day holiday on September 6. Deutsche’s timetable hews closer to the gradual approach favoured by European banks rather the more aggressive return-to-office attitude adopted by US-headquartered peers.
💡2. JPMorgan has applied to take full control of its securities joint venture in China, in the latest example of a US bank expanding its foothold in the country’s financial markets. The bank said on Thursday that it had handed in an application to Chinese regulators to purchase 100 per cent of the business, up from its current 71 per cent. The move comes after a period in which some of Wall Street’s biggest names have sought to increase their presence across China’s rapidly liberalising financial markets, despite worsening geopolitical tensions between Beijing and Washington.
💡3. Bullish investors pushed the value of property transactions in Hong Kong to a 24-month high last month, helped by rising house prices and luxury flat sales. The value of transactions rose 2.9 per cent month on month to HK$87.6 billion (US$11.3 billion) in May, according to figures from Land Registry on Wednesday. It was the highest since May 2019, when the turnover stood at HK$90.32 billion. However, overall transactions, including homes, shops, industrial and office units, eased 2 per cent month on month to 8,965 in May, the government data showed.
💡4. Hong Kong stocks swung between gains and losses as a two-month rally stalled amid a report saying President Joe Biden was preparing to amend US sanctions on Chinese companies with ties to the military, including the addition of new targets. The Hang Seng Index dropped 0.4 per cent to 29,179.93 at the noon break on Thursday, holding near a three-month high this week following an almost 3 per cent jump in the past two months. The gauge changed directions at least five times in morning trading. China’s Shanghai Composite Index added 0.4 per cent
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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 told its roughly 1,500 US investment bank employees that they must be back in the office by early September as it became the latest Wall Street lender to spell out its return-to-work policy. In an internal memo, Drew Goldman, Deutsche’s head of investment banking coverage and advisory, and James Davies, the head of US investment banking, told staff that all of the bank’s American teams should aim to resume working in the office no later than the Labor Day holiday on September 6. Deutsche’s timetable hews closer to the gradual approach favoured by European banks rather the more aggressive return-to-office attitude adopted by US-headquartered peers.
💡2. JPMorgan has applied to take full control of its securities joint venture in China, in the latest example of a US bank expanding its foothold in the country’s financial markets. The bank said on Thursday that it had handed in an application to Chinese regulators to purchase 100 per cent of the business, up from its current 71 per cent. The move comes after a period in which some of Wall Street’s biggest names have sought to increase their presence across China’s rapidly liberalising financial markets, despite worsening geopolitical tensions between Beijing and Washington.
💡3. Bullish investors pushed the value of property transactions in Hong Kong to a 24-month high last month, helped by rising house prices and luxury flat sales. The value of transactions rose 2.9 per cent month on month to HK$87.6 billion (US$11.3 billion) in May, according to figures from Land Registry on Wednesday. It was the highest since May 2019, when the turnover stood at HK$90.32 billion. However, overall transactions, including homes, shops, industrial and office units, eased 2 per cent month on month to 8,965 in May, the government data showed.
💡4. Hong Kong stocks swung between gains and losses as a two-month rally stalled amid a report saying President Joe Biden was preparing to amend US sanctions on Chinese companies with ties to the military, including the addition of new targets. The Hang Seng Index dropped 0.4 per cent to 29,179.93 at the noon break on Thursday, holding near a three-month high this week following an almost 3 per cent jump in the past two months. The gauge changed directions at least five times in morning trading. China’s Shanghai Composite Index added 0.4 per cent
————————————————
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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