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On April 7th, Southern Asset Management Co., Ltd. issued an announcement stating that the secondary market trading price of its Southern CSI Hong Kong Stock Connect 50 Exchange Traded Fund (ticker symbol: Hong Kong Stock Connect 50 ETF Southern, trading code: 159126) is significantly higher than the funds net asset value, exhibiting a substantial premium. Investors are hereby reminded to pay attention to the risk of this secondary market trading price premium, and that blind investment may result in significant losses.Morgan Stanley raised its price target for Arm (ARM.O) from $135.00 to $150.00.Iranian government spokesman: The Supreme National Security Council is managed by the president, and supporting the war is one of the important matters he frequently instructs on.On April 7th, ST Zhongzhu announced that its board of directors received a resignation report from Chairman Chen Xu on April 7th, 2026. Mr. Chen Xu resigned from his positions as chairman and legal representative of the company due to work adjustments. After his resignation, Mr. Chen Xu will continue to serve as a director of the companys tenth board of directors and a member of relevant special committees. According to the relevant provisions of the "Company Law" and the "Articles of Association," Mr. Chen Xus resignation as chairman did not result in the number of board members falling below the statutory minimum. His resignation report took effect from the date it was delivered to the board of directors, and Mr. Chen Xus departure will not affect the normal operation and management of the company and its board of directors.On April 7, Premier Li Qiang signed a State Council decree promulgating the "Regulations of the State Council on the Security of Industrial and Supply Chains," which took effect on the date of promulgation. The State strengthens the security of industrial and supply chains in key sectors. Relevant departments of the State Council will formulate a list of key sectors and implement dynamic adjustments to maintain the stable and continuous operation of the production and circulation of raw materials, technologies, equipment, and products in key sectors. Relevant departments of the State Council will promote information sharing in key industrial and supply chains, strengthen information platform support, guide industries and enterprises to strengthen information interconnection and interoperability in key industrial and supply chains, and take effective measures to ensure data security. The State will establish and improve a monitoring and early warning system for security risks in key industrial and supply chains. Relevant departments of the State Council will organize and conduct assessments and monitoring of the stability of supply channels for raw materials, technologies, equipment, and products in key sectors and their impact on economic and social stability and national security, identify industrial and supply chain security risks, and promptly release early warning information.

As Investors Fear Credit Suisse's Recovery, Both Bonds And Equities Decline

Charlie Brooks

Nov 29, 2022 11:52

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Monday witnessed a decrease in Credit Suisse bonds and a rise in the cost of insuring its debt against default, as the Swiss bank fought to reassure investors in the wake of a withdrawal of client cash and in anticipation of further litigation.


The second-largest bank in Switzerland announced last week that it was on course for a pre-tax loss of up to 1.58 billion Swiss francs ($1.58 billion) in the fourth quarter and that wealthy clients had made significant withdrawals.


This has resulted in a substantial decrease in liquidity, which exceeds various regulatory constraints.


In an official petition for a capital boost, the bank also stated that the U.S. Federal Reserve wished to probe Credit Suisse for the failure of the U.S. investment firm Archegos.


On Monday, investors were still digesting the news.


S&P Global (NYSE:SPGI) Market Intelligence reports that five-year credit default swaps rose 53 basis points (bps) to a record high of 398 bps since Friday's close. Credit Suisse began the year with a CDS of 57 basis points.


Extra dollar-denominated tier 1 notes fell more than 2 cents to their lowest level in recent weeks.


On Monday, the share price of the Swiss bank also hit an all-time low.


The decision of the Federal Reserve indicates that the bank may be vulnerable to additional punishment for its links to Archegos, whose collapse shocked Wall Street when its highly leveraged stock bets collapsed.


Credit Suisse was the greatest victim of a $10 billion slaughter, which was a double catastrophe for a bank already reeling from the failure of a key affiliate, Greensill Capital.


The objective of Credit Suisse's 4 billion franc capital increase is to help the bank recover from the greatest crisis in its 166-year history.

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