Message from Coach
On this week’s market summary:
1. JPMorgan Chase has admitted manipulating precious metals futures and US government bond markets over eight years in a $920m settlement with US authorities over the practice known as spoofing. The settlement with the Department of Justice, Securities and Exchange Commission and Commodity Futures Trading Commission covered misconduct by former traders from 2008 in the gold, silver and other metals futures market, and Treasury cash and futures markets.
2. South Korea’s market for initial public offerings is on track for its biggest year since 2017 as a strong recovery in stock prices after the coronavirus pandemic fuels investor enthusiasm for new listings. A total of 67 South Korean companies have raised about Won2.8tn ($2.4bn) this year, up 22 per cent from the same period last year, according to data from the Korea Exchange. That is the highest since companies raised Won8tn three years ago.
3. The eurozone is expected to remain in deflation over the coming months, partly because of the recent appreciation of the euro, European Central Bank president Christine Lagarde has warned. Headline annual inflation is “expected to remain negative over the coming months” after slipping into deflation in August for the first time in four years, Ms Lagarde told the European Parliament’s committee on economic and monetary affairs on Monday.
4. Stock investors lost more money in Hong Kong than in most places this quarter. Again. The Hang Seng Index has lost nearly 3%, lagging MSCI Inc.’s gauge of global stocks by more than 10 percentage points for a second quarter running. The Hong Kong benchmark has not seen back-to-back underperformance of that magnitude in data going back to the 1990s. Nearly a third of Hang Seng members lost 11% or more during the period.
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.