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On November 14th, Morgan Stanley stated that JD Healths (06618.HK) management is confident in achieving or exceeding its 2025 revenue growth target of 22% year-on-year, and has raised its adjusted net profit target to RMB 6.2 billion (previously approximately RMB 5.6 billion to 5.7 billion). Due to gross margin expansion and prudent cost control, adjusted operating profit (up 59.9% year-on-year) and adjusted net profit (up 42.4% year-on-year) are 39% and 15% higher than market expectations, respectively. Morgan Stanley maintains an "Equal-weight" rating on JD Health with a target price of HKD 60.On November 14th, Google (GOOG.O) submitted a restructuring plan to the European Commission after being fined €2.95 billion (approximately $3.42 billion) by the European Union for monopolistic practices in its ad technology business. However, the company did not propose splitting up the relevant business. In a statement on Friday, Google said, "Our proposal fully complies with the European Commissions decision while avoiding disruptive splitting measures that could harm thousands of European publishers and advertisers who rely on Google tools to expand their businesses." The company stated that it has submitted several proposals to adjust its ad technology operating model in the EU, including allowing publishers to set differentiated minimum prices for different bidders when using the Google Ads Management platform, and improving the interoperability of Google tools with third-party products to broaden customer choices. Google stated that it will continue to cooperate with EU officials during their evaluation of the proposals.South Koreas Ministry of Trade: South Korea and the United States will select an implementation plan for strategic investment by January 2029.South Koreas Ministry of Trade: South Korea and the United States signed a memorandum of understanding on a $350 billion strategic investment.Market news: Alphabets Google (GOOGL.O) has indicated its willingness to adjust its adtech business policies to comply with EU antitrust orders. Google has refused to sell parts of its adtech business, arguing that a breakup would disrupt publishers and advertisers.

The Australian Authority Suspends Orders For Two Permanent Investment Funds

Charlie Brooks

Nov 25, 2022 14:27

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Friday, the Australian securities regulator ordered a unit of asset management firm Perpetual Ltd to temporarily halt promoting or delivering two products to individual investors due to elevated market risks.


Perpetual is aiming to conclude a deal with EQT-owned Barings Private Equity Asia (BPEA) and Regal Partners, while being compelled by the court to launch its own takeover proposal for rival Pendal Group.


The Australian Securities & Investments Commission (ASIC) has ordered Perpetual Investment Management's Perpetual Pure Microcap Fund and Perpetual Geared Australian Share Fund to halt distributing interest and giving advice to retail investors for 21 days.


According to the regulator, the portfolios of the funds are exposed to extreme market volatility and carry substantial risks, increasing the potential that investors would sustain enormous losses.


"ASIC issued the interim measures to protect retail investors from engaging in funds that may not be appropriate for their financial objectives, circumstances, or needs," the regulator noted.


"The Australian Securities and Investments Commission is concerned that Perpetual did not appropriately consider these features and risks when choosing the wide target markets for the products."


The government expects Perpetual to take "immediate measures" to ensure compliance.


Reuters requested a response from Perpetual but did not receive a prompt reply.

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