U.S. investment firm AllianceBernstein cuts research team
HONG KONG -- U.S. investment manager AllianceBernstein started cutting jobs in late February amid plans to form joint ventures with French bank Societe Generale.
ECHO WONG in asian news
China fines Evergrande for inflating revenue by $80bn
HONG KONG -- China's securities watchdog has accused a core unit of China Evergrande Group of inflating revenue by nearly $80 billion over two years before the developer defaulted on its debt.
Singapore steps up scrutiny of China wealth after money laundering case
HONG KONG -- Singapore has stepped up scrutiny of Chinese wealth coming into the city, including rejecting applications to set up family offices, following a recent money laundering scandal.
Offshore creditor files petition to wind up Country Garden
HONG KONG -- Ever Credit, an offshore creditor of Country Garden Holdings, has filed a petition to wind up the Chinese property developer, a move that marks the ongoing property crisis in China.
Foreign investors step up purchases of Chinese government bonds
HONG KONG -- Foreign investors have added to their holdings in China's domestic bond market for a fifth month in a row, seeking to profit from deflationary pressures in Asia's largest economy.
Asia private equity firms use controversial route to exit investments
HONG KONG -- The subdued market for initial public offerings in Asia is prodding private equity investors in the region to pursue a controversial strategy for exiting investments: selling assets to so-called "continuation funds" they raise themselves.
HSBC 2023 record profit spoiled by China investments
HONG KONG -- HSBC Holdings on Wednesday reported a record annual pretax profit of $30.3 billion in 2023, a 78% jump from the previous year, boosted by the completion of the sale of its French retail banking business, but was hit by write-offs related to its investments in China's Bank of Communications.
China private investment firms face growing U.S. scrutiny, analysts say
HONG KONG -- The Pentagon's addition of a Beijing-headquartered private equity and venture capital firm to a list of companies with alleged close ties to China's military underscores growing sanctions risks for the industry and is likely to result in pressure for more investment self-scrutiny, analysts say