Beng Hong LEE

HKEX REACHES AGREEMENT WITH SSE AND SZSE TO EXPAND SCOPE OF ELIGIBLE ETFS UNDER STOCK CONNECT Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce on Friday that it has reached an agreement with Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) to expand the scope of eligible exchange-traded funds (ETFs) under Stock Connect. The eligibility criteria for ETFs for both Northbound and Southbound trading, including the assets under management requirement and the index weighting requirements, will be relaxed to support the continued development of the mutual market access programme. This expansion will further enrich investment options and enable Stock Connect investors to allocate assets in both Hong Kong and Mainland China markets in an efficient and cost-effective way. Further details of the expansion can be found in the circular published by HKEX today. The three exchanges will work closely on the business and technical preparations for the expansion, which is expected to take effect approximately three months from the date of this announcement. #ETF #StockConnect #HKEX #SSE #SZSE

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SGX Group derivatives trading hit a new record of 3.24 million contracts in equities, FX, and commodities—surpassing the previous high of 2.96 million in April 2022. 🙌 📰 In an exclusive interview, our Director of Commodities and Dealing, Benjamin Yeo, shed light on the factors driving this surge. Key highlights include: - Macroeconomic & Geopolitical Factors: Increased volatility, central bank actions, and geopolitical uncertainties are major contributors. - Growing Market Participation: Institutional investors, proprietary trading firms, and retail traders are leveraging derivatives to hedge against risks and optimise portfolios. - Education for Retail Investors: Futures contracts provide powerful tools for managing exposure to market risks, and at Phillip Nova, we remain committed to empowering our clients with knowledge and resources. Now is a prime opportunity for investors to leverage these powerful tools for managing market risks. For investors holding stocks, derivatives such as equity index futures can be highly effective in hedging against market downturns. As Benjamin Yeo illustrated in the article, for example, to protect a Singapore stock portfolio from a potential decline, investors can sell SiMSCI futures contracts. By doing so, any losses in the stock portfolio can be offset by gains from the futures contracts, offering a safeguard against a drop in market value. At Phillip Nova, we’re seeing increased trading activity across institutional investors, proprietary trading firms, and even retail traders. Now is the time to explore how derivatives can be a key part of your investment strategy. 🔗 Read more about this milestone and insights from Benjamin Yeo in Lianhe Zaobao 联合早报’s full article here https://lnkd.in/gZVYNZk9 #Derivatives #SGX #PhillipNova #Trading #RiskManagement #MarketInsights #FX #Commodities #Equities

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HKEX To Develop Orion Derivatives Platform, Providing Best-in-Class Trading, Clearing and Risk Management Solutions for Global Clients On April 18, Hong Kong Exchanges and Clearing Limited (HKEX) announced the development of the Orion Derivatives Platform (ODP), to help differentiate the Group’s derivatives offerings and elevate its competitiveness in the global derivatives marketplace. · HKEX is launching the development of a proprietary derivatives platform to address rapidly evolving client needs · New platform will give HKEX capability to offer near 24-hour derivatives trading, introduce new products and provide enhanced efficiency, elevating Group’s competitiveness as a global exchange · ODP platform development ongoing; system migration will be carried out in phases to ensure smooth transition; market rollout expected in 2028 HKEX Chief Executive Officer, Bonnie Y Chan, said: “Building future-ready technology platforms and operations is a key strategic priority for HKEX, as we help our markets and participants deliver long-term, sustainable growth and development. We are therefore pleased to announce plans to develop the ODP, representing our significant investment into the future of our markets. Derivatives are one of the fastest-growing segments of HKEX's diverse business, achieving record-breaking volumes in both 2023 and 2022. Developing an in-house platform that is adaptable, efficient, and scalable, would give us a unique competitive advantage in the global derivatives space. The launch of ODP will strengthen HKEX’s capability to support the needs of global investors, and cement Hong Kong’s leading position as Asia’s risk management centre and an international financial centre.” For the full content, please check this link 👇 https://lnkd.in/gjQ4qEAy

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HKEX Confirms Plans to Reduce Tick Sizes in Securities Market Hong Kong Exchanges and Clearing Limited (HKEX) will proceed with its proposal to reduce minimum spreads of equities, REITs, and equity warrants in two phases. https://lnkd.in/dmzYUdu9

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[Woori to re-enter brokerage business with acquisition of Korea Foss Securities] Financial group expects merger with digital brokerage house would give edge in mobile stock trading services 우리금융그룹 (Woori Financial Group) said Friday that it will launch a new brokerage arm in the third quarter by acquiring digital brokerage firm Korea Foss Securities and merging it into its existing investment banking subsidiary. The tie-up plan between Woori Investment Bank and Korea Foss Securities marks the financial giant's return to the stock trading business after a decade. Woori Financial Group's long-term goal is to become one of the country's top 10 brokerage firms within the next decade, said Deputy President of Woori Financial Group's Strategy Planning Unit Lee Jung-soo during a press conference Friday. "We might consider additional acquisitions if we identify strategic opportunities or find a suitable target," he added. Tap below to read full story. #Woori #financial #group #brokerage #trading #finance #trade #merger #deal #bid #KFS https://lnkd.in/gyjNA6Z4

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In a recent piece for e-Forex magazine, Goh Qian Ying, CMT, Head of Institutional FX Sales for StoneX Pro, Singapore, shared her views on the rapid rise of the Singapore FX ecosystem and what’s behind its success: - International investor demand and robust base of buy-side clients - Geopolitical stability and regulatory frameworks - Innovative trading technology and skilled workforce "At StoneX, we've observed FX trading in Singapore shifting towards more complex FX instruments such as forwards, swaps, and options as corporates and financial institutions look for more advanced instruments to hedge their currency exposure" Goh said. Learn more about what’s driving Singapore’s thriving FX market by reading the full story here: https://lnkd.in/eFeUHABu #StoneX #StoneXPro #FXliquidity #FXtrading #FX #FXmarkets #eForex

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MPF Ratings released Q1 2024 MPF Asset Class Fund Flow Summary by highlighting that US equities received over $9bn of MPF’s net inflows in Q1 2024, by far the largest quarterly MPF net inflows into US equities ever recorded, and a concerning trend which Mr Chung attributes to a confluence of new fund launches, disappointing local equity results and MPF members trying to capitalize on the strong momentum of the US market. Find out more here: https://lnkd.in/eRJmq4ne #mpfratings #MPFRIntelligence #MPFRConsistentPerformers #MPFFastMover #MarketInsights #MPFMarketShare #MPFFundFlows #MPFNetReturns #MPFIndustry #pensionschemes #assetmanagement #investmentmanagement #mpf #investment #empf

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Moomoo SG's Moofest 2024 Special Panel session shone a spotlight on global financial markets including Singapore, US, Hong Kong and Japan markets. Key takeaways from the panel: 🇭🇰 Adeline Ee, Managing Director & Head of Sales and Marketing, ASEAN, Hong Kong Exchanges and Clearing Limited (HKEX), shared some of the latest initiatives at Hong Kong Stock Exchange. "Our markets showcase how innovations are driving huge opportunities. With the launch of many innovative products such as Asia's first spot virtual asset ETFs, we offer investors more choices. Our structured products market is the world's largest by turnover for 17 consecutive years, and we have recently added US stock underlying, offering investors a broader selection of global opportunities.” 🇯🇵 Hiroki Kawai, Senior Executive Officer, Japan Exchange Group, shared: "Now is an opportune moment for retail investors to engage with the Japanese stock market. Our corporate transformation initiatives and increased shareholder returns are catalysts for growth." 🇺🇸 James McKeone, VP Investment Intelligence APAC, Nasdaq underscored the importance of innovation: "US companies like Apple, Nvidia, Microsoft, and Amazon lead the world in innovation. This innovation translates into significant growth opportunities for investors." 🇸🇬 Lily Chia, Head of Regional Equities & FICC Sales, SGX Group explained: "Interest rates have somewhat peaked, and there’s a revived interest in REITs. This surge in demand indicates a renewed confidence in the stability and income-generating potential of REITs." 📊 Echo Zhao, Country Head, eMoomoo SG, emphasised the role of technology and education in empowering modern investors. "By democratising access to sophisticated tools and insights, we ensure our investors are well-informed decision-makers." A big thank you to our distinguished panelists and moderator Goola Warden, The Edge Singapore, for their valuable contributions! Read more: https://lnkd.in/ga_aWt8P

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[Issuance Rating] Lianhe Global has assigned ‘A+’ global scale Long-term Issuance Credit Rating to the RMB Digitally Native Guaranteed Bonds (“The DN Bonds”) to be issued by Huafa 2024 I Company Limited (“Huafa 2024 I”), a wholly-owned subsidiary of Zhuhai Huafa Group Co., Ltd. (“ZHG”; ‘A+’/Stable). The DN Bonds constitute Huafa 2024 I’s direct, unconditional, unsubordinated and unsecured obligations which shall at all times rank at least equally with all its other present and future unsecured and unsubordinated obligations. The DN Bonds are unconditionally and irrevocably guaranteed by ZHG. ZHG intends to use the net proceeds from this offering for refinancing existing offshore indebtedness. Full Press Release: https://lnkd.in/eRFiT6Yk #china #guangdong #zhuhai #ZHG #assignment #LGFV #rating #creditrating #investmentgrade #dcm #issuerrating #issuancerating #bonds #usdbonds #offshorebonds #chinabonds #fixedincome #debtcapitalmarkets

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KGI Securities targets 50 new RMs by 2026. https://lnkd.in/gdRqJpGB Wealth management head James Wey is beefing up hiring efforts, from the current headcount of about 300 RMs across Hong Kong and Singapore. #kgisecurities #wealthmanagement #asia KGI 凱基

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Our Managing Director for Private Credit, Wei Hsien Chan, was recently at the AIMA-ACC APAC Credit Refresh pre-forum, where he discussed with his fellow panelists on “𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐑𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐜𝐞 𝐰𝐢𝐭𝐡 𝐚 𝐌𝐮𝐥𝐭𝐢-𝐒𝐞𝐜𝐭𝐨𝐫 𝐀𝐩𝐩𝐫𝐨𝐚𝐜𝐡”. Thank you AIMA - The Alternative Investment Management Association, Alternative Credit Council and State Street for having us. Below are some takeaways 👇 1️⃣  In Asia, private credit is not about funds competing with banks. Direct lenders provide funding to corporates that are unable to access the bank market, largely due to regulatory, structural or market factors. 2️⃣ At SeaTown’s private credit, we provide loans to both PE-sponsored and non-sponsor transactions, across developed and emerging Asia. Competition is generally higher in the sponsor space because of the entrance into Asia of global managers capable of writing billion-dollar cheques. However, what we have observed is that most of these fund managers are largely comfortable with vanilla structures in developed Asia. In the non-sponsor space, particularly in emerging Asia, the market is still heavily fragmented and there are only a small group of fund managers capable of writing cheques over $100m and able to offer a range of flexible terms. To be able to address both these segments, managers need to have a meaningful AUM for scale, an experienced investment team and investment committee comfortable with developed and emerging Asia, and a broad ecosystem to tap for origination and due diligence. 3️⃣ We believe that lower interest rates will increase the relative attractiveness of Asian private credit versus US/Europe as non-sponsor loans in Asia are mostly fixed-rate and have not increased as much as US base rates in recent years, so we expect them to go down less when US rates drop. 4️⃣ New technologies like AI can help with deal screening and market analysis but for private companies, particularly in emerging Asia where there is a shortage of reliable standardized, detailed, publicly available company and industry data, there is no substitute for old fashioned due diligence. What are your observations about the Asian private credit market? #PrivateCredit #Asia #Alternatives #SeaTown

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💥 Paolo Ardoino, CEO of Tether, shared plans to gradually enhance the liquidity pool to fund commodities market transactions through Tether Investments. By 2026, the pool could reach $5 billion. Details at: https://lnkd.in/dKyxPzkA 💥 Hong Kong launched two initiatives that will stimulate the development of the local digital asset sphere — subsidizing the issuance of tokenized bonds and tax incentives for institutional investors. Read more: https://lnkd.in/dEiDHrJ8 💥 LianLian Global, China’s largest FinTech platform for cross-border payment processing, announced the launch of Yueda Card, a B2B payment product for SMEs on Visa’s global network. Read more at: https://lnkd.in/dMP9mHrn

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