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On June 29, Tuhu (09690.HK) announced on the Hong Kong Stock Exchange that it has confidentially submitted a draft F-1 registration statement to the U.S. Securities and Exchange Commission regarding the proposed initial public offering and listing of American Depositary Shares representing the companys Class A ordinary shares in the United States, and has filed with the relevant Chinese regulatory authorities in accordance with applicable Chinese laws and regulations regarding the proposed overseas offering and listing.1. Musk announced that Grok 4.5 is in internal testing and its performance may surpass Anthropics Opus. 2. US media: Zhipu GLM-5.2 is comparable to Mythos in vulnerability finding. 3. South Korean media: Samsung and SK Group are expected to announce an investment plan of up to 2,000 trillion won. 4. Momenta plans to issue 19.93 million shares in its Hong Kong listing, with an issue price of HK$295.6 per share. 5. British media: The UK is considering gradually replacing traditional destroyers to accelerate its transformation to unmanned warfare. June 29th - According to a survey released by Invesco, concerns about the US dollar are "widespread and deepening," with 61% of surveyed central banks stating that US debt levels negatively impact the dollars long-term status as a reserve asset, compared to 20% in 2024. While the Iran war has boosted the dollar by 3% this year, analysts say that US policy uncertainty and high debt levels suggest the dollar may weaken in the long term. Although any shift towards reducing dollar investments is likely to be gradual due to the lack of credible alternatives, the Invesco survey shows that 29% of respondents believe the dollars reserve currency status will weaken within five years, up from 12% in 2022. Invesco also noted that several institutions have reported reassessing their reliance on US custodians, counterparties, and clearing infrastructure due to geopolitical tensions. Meanwhile, one-third of respondents indicated they intend to increase their gold holdings in response to the trend of investment diversification.Japans seasonally adjusted retail sales rose 1.9% month-on-month in May, compared with expectations of a -0.60% decline and a revised 2.10% increase in the previous month (originally 1.30%).Japans retail sales rose 5.3% year-on-year in May, below the expected 3.2% and the previous figure revised from 2.10% to 2.80%.

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.