Message from Coach
On this week’s market summary:
1️⃣Investors are preparing for another round of large loan loss provisions at HSBC, Standard Chartered and other big banks in Hong Kong, after additional waves of the coronavirus pandemic weighed on economic activity globally in the second quarter. Analysts expect HSBC and Standard Chartered to report a combined US$3.4 billion in loan loss provisions for the second quarter.
2️⃣China’s GDP rebound belies an uneven recovery and a widening gap between the real economy and capital markets. Instead of more stimulus, Beijing will want to rebalance the economy and carefully unwind policy easing GDP growth should hit 5-6 percent for the second half, and 2.3 percent for the whole year.
3️⃣According to data released on Tuesday by the country’s National Statistics Institute, the drop in employed workers was the biggest on record, exceeding the number of people who fell out of work at the height of the financial crisis.
4️⃣Bitcoin’s price has soared since the March rout in global capital markets, outpacing gains in equities and precious metals amid a flood of liquidity unleashed by central banks to combat the coronavirus pandemic, as enthusiasts test the Crypto currency’s claim to be a safe haven asset.
5️⃣The prediction by surveyors comes after a consortium including mainland giant China Vanke won a plot in Tai Po earmarked for over 1,000 flats Mainland Chinese developers are likely to become more active buyers of Hong Kong land as local rivals back off amid political turmoil and recession.
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.