Hong Kong government announces measures to lure wealthy family offices

HONG KONG (Reuters) – Hong Kong’s government announced a series of measures on Friday to attract wealthy family offices to set up in the financial hub as authorities try to restore business confidence and investor allure after three years of severe COVID-19 rules. A revamped investment migration scheme, new tax concessions and incentives such as…

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Emerging market investors turn increasingly bullish for Q2 -HSBC survey

LONDON (Reuters) – Nearly half of emerging market investors are bullish on prospects for developing markets in the second quarter, a survey by HSBC showed on Thursday, thanks to rising optimism following the reopening of the Chinese economy. Some two thirds of the respondents expected emerging equities to outperform those of the developed economies in…

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Analysis-Credit Suisse collapse threatens Switzerland’s wealth management crown

By John Revill ZURICH (Reuters) – The fall of Credit Suisse has dealt a serious blow to Switzerland’s credentials as the world’s leading wealth management centre, experts warn, calling into question its reputation for stability, regulation and corporate governance. Battered by years of scandals and losses, Credit Suisse had been fighting a crisis of confidence…

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First Republic leads surge in bank stocks as Fed comes into focus

By David French, Nupur Anand and Lananh Nguyen (Reuters) – Shares of U.S. regional lenders including battered First Republic Bank surged on Tuesday as fears of a wider banking crisis abated and investors turned their focus to the U.S. Federal Reserve’s next move. The Fed’s relentless rate hikes to rein in inflation have been partly…

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US Treasury looks to strengthen financial stability; big focus on smaller banks

By Andrea Shalal WASHINGTON (Reuters) -The U.S. Treasury is continuing to monitor the health of mid-sized and regional banks and is considering what steps can be taken to further strengthen the country’s financial stability, Deputy Treasury Secretary Wally Adeyemo said on Tuesday. Adeyemo said “decisive action” taken by the Treasury, Federal Reserve and the Federal…

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Credit Suisse rescue presents ‘buyer beware’ moment for bank bondholders

By Tom Westbrook SINGAPORE (Reuters) – The rudest shock in the rushed deal to save embattled Swiss lender Credit Suisse Group AG was reserved for the holders of the bank’s riskiest tranche of bonds. Not only did investors discover they are the only investors not getting any compensation but that the long-established practice of giving…

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Five trades from hedge funds to navigate US-China tensions

By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON (Reuters) – Hedge funds are watching growing U.S.-Chinese geopolitical tensions and have spotted ways to trade them. U.S. authorities on Thursday told TikTok’s Chinese owners to divest their stakes in the popular video app or face a possible U.S. ban, Reuters reported. Britain, this week, described…

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Bridgewater, Millennium, and Marshall Wace in bearish bet on Europeans banks

By Nell Mackenzie and Pablo Mayo Cerqueiro LONDON (Reuters) -Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to short positions on European banking shares after the collapse of Silicon Valley Bank sparked contagion fears across global banks, according to data from Breakout Point. Hedge funds including Citadel, Wellington Management, Capital Fund Management and…

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