Weekly Market Summary

💡1. KPMG will face a disciplinary tribunal over allegations that it provided false or misleading information to the UK accounting regulator regarding its audits of Carillion and another outsourcer. The Financial Reporting Council announced a formal complaint against the accounting firm and several individuals there, including former partner Peter Meehan, who led KPMG’s audits of Carillion. The regulator alleged that KPMG provided false or misleading information or documents in connection with its routine quality inspections of the audits of Carillion for the financial year ending December 2016 and of Regenersis, another outsourcer, for the year ending June 2014.

💡2. It was inevitable that the pace of the global recovery from the coronavirus pandemic would slow. Reopening an economy may often happen in stages but it can only happen once. The sudden surge of growth that follows a resumption of economic activity after a lockdown cannot be repeated, and the easing of less stringent restrictions will not lead to the same sort of boost. But recent softening in some key data is a concern. Not only does it reflect the spread of the more infectious Delta variant and supply chain worries but also a slowdown in China.

💡3. The multibillion dollar Asia-Pacific investment property market could be boosted by the use of security tokens, which could allow individual professional investors to take part in large-scale projects with entry tickets prices possibly as low as HK$1,000 (US$128.41). These tokens – typically asset-backed digital representations of ownership or other economic rights in an underlying asset – will allow individual professional investors to take part in large-scale projects. They will also let developers and asset owners raise funds without fully disposing of their projects, according to market players.

💡4. Hong Kong stocks rose as investors shrugged off economic slowdown concerns to scout for bargains amid record-low valuations. The Hang Seng Index added 0.6 per cent to 26,028.29 at the close while the tech benchmark jumped 1.3 per cent to a three-week high with Bilibili and NetEase leading the rally with a 6 per cent advance. China’s Shanghai Composite Index gained 0.7 per cent. Dip buyers have been loading up on Chinese technology stocks as sentiment and fundamental yardsticks hit new lows.

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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.