Archive for the ‘Hong Kong’ category

Vanguard Announces New Head of Asia Pacific Investments

February 11th, 2014

Vanguard, the U.S.-based global indexing firm, recently announced the appointment of a new head of investments for the Asia-Pacific region. Rodney Comegy, who previously served as head of index analysis and ETF trading in Vanguard’s Pennsylvania office, will be replacing Gregory Davis in Melbourne. Through his new role, Comegy will also be heading the company’s equity investment group Asia Pacific.

Tim Buckley, chief investment officer at Vanguard, explained that the firm’s investment management business has undergone several changes over the past few years.

“Our appointment of Mr. Comegy reflects our adoption of a global strategy that aligns and integrates our investment functions worldwide,” Buckley explained. “As a result, Vanguard will be better able to leverage its significant resources and deliver the best possible outcomes for investors.”

Gregory Davis, who previously headed the Asia Pacific investment office, will now return to the United States to serve as global head of the company’s fixed income group.


Dollar Rises in Asia After Federal Reserve Announcement

July 18th, 2013

US Federal Reserve Chief Ben Bernanke recently announced that the bank’s easy money policy will remain as is until further notice. The dollar rose in Asia as a result.

According to, the dollar “changed hands at 99.74 yen in the morning, up from 99.60 yen in New York on Wednesday, while the euro fetched $1.3111 and 130.77 yen, against $1.3125 and 130.73 yen.”

On Wednesday, Bernanke explained that the central bank intends to reduce its stimulus program only after seeing continues economic improvement.

“I emphasize that, because our asset purchases depend on economic and financial developments, they are by no means on a preset course,” he said, adding that the economy is in fact growing at a moderate pace with signs of additional strength in a number of sectors.

SMBC Nikko Securities’ Hiroichi Nishi said: “Bernanke’s words were nothing new, but did have a calming effect for those still harboring jitters about a near-term end of the U.S. easing policy.”

The Rise of Asia

August 23rd, 2010

The stock market in Asia – Pacific region is unique in the world to keep green in most of the trading week , except week session key swing by the action from Europe and America .

As of the week , the index MSCI Asia – Pacific increased 0.4 % to 118.29 points , after declining 3.7 % in the previous week. Index is down 8.4 % from the peak years of the date 15/04/2010 . Shanghai ‘s Composite Index of China increased 1.4 % . Nikkei 225 down 0.8 % in Japan . South Korea ‘s Kospi rose 1.7 % .

Although Japanese economic decline in the second quarter , but the opportunities to create momentum for China ahead . According to data released Tuesday by the Japanese 16 / 8 , the total domestic product ( GDP ) of Japan is 1286 billion dollars , lower than the figure of 1335 billion U.S. dollars in China.

Along with the change of his two economies Japan, China , a number of countries and territories in Asia last week has emerged stronger . Central Bank of Malaysia , Zeti Akhtar Aziz said the country’s economy grew 8.9 % in quarter 2 / 2010 over the same period last year and expected to grow 6 % in 2010.

But according to the statistical offices of Taiwan (China ) , GDP quarterly 2 / 2010 of the area has grown 12.53 % over the same period last year . Quarter 1 / 2010 , the rate of economic growth in Taiwan reached 13.71 % . Taiwan ‘s exports could grow more than 30 % this year .

Thai Prime Minister Abhisit Vejjajiva Monday 20 / 8 expressed confidence that the export sector will help boost gross domestic product ( GDP ) this year of at least 7 % . Mr. Abhisit said Thai economic growth of 10% in first 6 months of 2010 primarily due to strong export growth .

Quarter 2 / 2010 , European economic growth 1 % quarter U.S. economic growth 1 / 2010 the first published data is 2.4 % and could be adjusted downward to 1.4 % last week , can assert Asian economic growth will be the first ship of the global economy in 2010 .

Britain’s Telegraph newspaper recently described a series of statistical data was very positive about the growth of the Southeast Asian country . Accordingly, in 2010, Singapore will achieve economic growth record of 15 % , 7 % followed by Malaysia , Indonesia, Philippines 6.6 % and 6 % .

The newspaper said that following the global economic downturn 2008-2009 , some Southeast Asian countries have recovered quickly . This area is becoming attractive investment in the context of Vietnam and Thailand is rising next to the economy is considered development in the region such as Singapore .

According to the newspaper , the national investment funds and individual investors now want to choose Asia and Southeast Asia to increase investment by the ability to achieve high profits . Last year, Fidelity Investment Fund has spent 25% of investment in Southeast Asia , while Aberdeen and First State Fund respectively for 35 % and 25 % investment in the region.

Meanwhile, today 19 / 8 , the Asian Development Bank ( ADB ) has published a report said the middle class (the consumers from U.S. $ 2-30 per day ) of the rapidly expanding Asia will be able to act as leading consumer and help re- balance the economy .

This report is in a special edition of the main indicators for Asia and the Asia – Pacific 2010 . Accordingly, studies show that Asian consumers consumption around 4300 billion dollars , equivalent to one third of the consumption of industrialized countries ( OECD ) .

Agricultural Bank of China listed A shares to secure this issue price

July 15th, 2010

Agricultural Bank of China A + H shares will be listed in the Shanghai and Hong Kong listing for 15 and 16 days. Investors were worried that stocks were listed below their market value on the first day that the Agricultural Bank issued the price. Head of the office Sheng Chuannong urged investors not to hurry to sell .


First half of the 178 foreign enterprises to invest in Hong Kong to create 1,980 job openings

June 23rd, 2010

Hong Kong- Since investment has increased heavily in Asia, Hong Kong in the first half significantly increased the amount of foreign investment . Invest Hong Kong announced that the first half of a total of 178 foreign enterprises to invest in Hong Kong or expand their business , not only reached the annual target of 66% , but also the creation of 1980 jobs.

Invest Hong Kong Chief Executive Donald Tsang yesterday  hosted a reception to thank the recent development or expansion of business in Hong Kong enterprises , and about 300 senior officers from different sectors attended . Mr Tsang said Hong Kong 1st quarter of this year’s economic growth rate compared with the same period last year , an increase of 8.2 %, far more than economists expected , also hit 4 -year high . Meanwhile, Hong Kong’s GDP rose 4 consecutive quarters , reflecting the investment promotion agency .

Mr Tsang said that as the tightening of credit funds , and the world ‘s turmoil in the financial crisis , large investment funds transferred to the Asian region and  Hong Kong also benefited .  Invest Hong Kong will control the timing shift of funds , implement a series of measures to improve overall competitiveness , including more countries sign agreement to avoid double taxation , the yuan trade settlement plan , and the advantage  of industry within Hong Kong .

Director of Investment Promotion, Mr Galpin said that the first half of a total of 178 foreign enterprises to invest in Hong Kong has reached full year target of 66% amounting to 3.224 billion Hong Kong dollars , but also for the creation of 1980 jobs.

Mr Galpin said the completion of the first half of this year ‘s investment projects , 39 % from Asia Pacific , 31 % from Europe, North America accounted for 24%. In addition , Invest Hong Kong , India and Russia also have additional professional consultant familiar with the local market to meet the growth BRIC markets .

This year happens to be  the 10 year anniversary of Invest Hong Kong and also  the successful completion of over 2000 projects. Related enterprises investing in Hong Kong have added a total of more than 25,000  Hong Kong  job openings and the total amount of investment in more than 52 billion Hong Kong dollars .