China Property Stockâs Sudden Plunge on Spinoff Plan Spooks Bondholders
May 13 2021, 4:00 PM
May 13 2021, 1:42 PM
May 13 2021, 4:00 PM
(Bloomberg) Anything freaks out Chinaâs dollar bond market these days, especially when it comes to property firms.
(Bloomberg) Anything freaks out Chinaâs dollar bond market these days, especially when it comes to property firms.
When Central China Real Estate Ltd. shares resumed trading in the afternoon in Hong Kong, they sank as much as 43%. The trigger was expected from Thursday, new shareholders would no longer qualify for a piece of a newly spun-off company, Central China Management Co.
Other significant gainers in the period included
yearn.finance (YFI) and
Polygon (MATIC), both of which shot up 45.71% and 24.05% and were trading at $88,347.95 and $1.07 respectively. In comparison,
Bitcoin (BTC) traded 3% higher at $57,238.81.
Block.one, the company associated with EOS, announced the launch of Bullish Global a new cryptocurrency exchange, as per a statement.
Investors in the new cryptocurrency exchange include
PayPal Holdings Inc (NASDAQ:PYPL) co-founder Peter Thiel, Hong Kong billionaire and Chairman of
PCCW Ltd (OTC:PCCWY) (OTC:PCWLF) Richard Li and
Nomura Holdings, Inc’s (NYSE:NMR) investment bank unit.
Lately,
Ethereum (ETH), which is known for its DApp capabilities, hit a series of all-time highs, the latest on May 10 when it touched $4,197.47. ETH traded 8.25% higher at $4,182.57.
Nomura Holdings Inc
raised its pretax income target for the next fiscal year by 14%,
showing the long-cherished ambitions of Japan s top brokerage
and investment bank to join the global elite remain. | May 12, 2021
May 12, 2021
Nomura Holdings Inc. raised its pretax income target for the financial year ending March 2023 by 14%, with the bulk of growth expected to come from its wholesale division as it moves on from the implosion of Archegos Capital Management.
Japan’s biggest brokerage expects pretax income at its retail, investment management and wholesale divisions to rise to ¥320 billion, up from a May 2020 target of ¥280 billion, Chief Executive Officer Kentaro Okuda said in a speech on Wednesday.
Income at Nomura’s wholesale division, which suffered a $2.9 billion hit from the collapse of Bill Hwang’s family office Archegos in March, is expected to rise to ¥150 billion, more than double the ¥64.3 billion for the year ended March 2021. The bulk of the growth is likely to come from advisory, wealth management and private markets.