Photo: Reuters
March 8, 2021
South Korean e-commerce giant Coupang Inc.’s initial public offering is on track to be the largest listing by a Korean company in a decade. And, like most of the major tech offerings these days, it’s happening in New York.
There are three big reasons that explain why the U.S. is a better pick for the e-tailer backed by SoftBank Group Corp.’s Masayoshi Son. Perhaps most significantly, New York offers a considerable valuation premium. It also has a deeper, more liquid market, and allows uneven voting rights that would benefit Coupang’s founder, Harvard Business School drop-out Bom Kim.
A 2020 winner in Asia stock market is now the biggest loser theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
While technology stocks continue to front Asia’s equity rally, one hot sector from 2020 has fallen to the bottom of the leaderboard: health care.
Essentially flat year-to-date, a gauge of the sector is the worst-performing in Asia, lagging the region’s benchmark by nine percentage points. It is on track to underperform the MSCI Asia Pacific Index for a third straight month, the longest losing streak in three years.
A growing expectation of a return to normal for the global economy has caused investors to abandon defensive bets made during the pandemic, such as health care the second-best performer last year. Energy shares have staged a comeback on the rebound in crude prices, while financials have strengthened thanks to the rise in bond yields. “The market is reflecting re-opening and recovery expectations, which is supportive of cyclical sectors rather than health care,” said Kieran Calder, head of Asia equity research at Union Bancaire Privee Ubp SA.
A 2020 winner in Asia stock market is now the biggest loser moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
A 2020 winner in Asia’s stock market is now the biggest loser
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A 2020 winner in Asia’s stock market is now the biggest loserBy Moxy Ying and Youkyung Lee, Bloomberg
Last Updated: Feb 21, 2021, 10:52 AM IST
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Synopsis
Essentially flat year-to-date, a gauge of the sector is the worst-performing in Asia, lagging the region’s benchmark by eight percentage points.
Energy shares have staged a comeback on the rebound in crude prices, while financials have strengthened thanks to the rise in bond yields.
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While technology stocks continue to front Asia’s equity rally, one hot sector from 2020 has fallen to the bottom of the leaderboard: health care.