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On January 13, Lyon pointed out that the impact of the "Biosafety Law" on WuXi Biologics (02269.HK) will change from unpredictable last year to controllable this year. The banks view on WuXi Biologics has become more positive this year, based on a slight improvement in biotech financing last year, increased certainty of antibody-drug conjugates (ADCs), and potential acceleration of Irish equipment. The bank raised its revenue and net profit forecasts for the company from 2024 to 2026 by 4% to 10% and 8% to 13%, respectively, and raised its target price for the stock from HK$22.6 to HK$22.9, reiterating its "outperform" rating.On January 13, the Yemeni Houthi armed forces said on January 11 that since the USS Truman entered the Red Sea, the Houthi armed forces have launched five attacks on it, "forcing it to the northernmost part of the Red Sea." On January 12, local time, the U.S. Central Command posted a photo on social media and said that the commander of the Central Command, Kurila, inspected the "Truman" aircraft carrier. However, it did not give the specific time when the photo was taken, nor the area where the aircraft carrier was when it was taken. The post stated that since the "Truman" entered the Central Commands area of responsibility on December 14, 2024, it has carried out a number of tasks, including multiple strikes against the Yemeni Houthi armed forces. The post did not mention the Houthi armed forces attacks on it.On January 13, Bocom International issued a report, lowering the target price of Anta Sports (02020.HK) to HK$104.28. The company is optimistic about the long-term, but considering the uncertainty of the consumer environment, the financial forecast is slightly lowered. The investment rating of "buy" is maintained.Hong Kong stocks rebounded, with the Hang Seng Tech Index narrowing its losses to less than 1%; the Hang Seng Index fell 1.22%.According to Barrons: After returning to a five-day office work system, some JPMorgan Chase (JPM.N) employees are considering forming a union.

Fidelity to Allow Retirement Savings Allocation to Bitcoin In 401(k) Accounts

Cameron Murphy

Apr 27, 2022 10:05

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The Wall Street Journal reported on Tuesday that Fidelity Investments will allow investors to establish a bitcoin account to their 401(k) retirement savings and investment programs.


Fidelity Investments, the first large retirement plan provider to do so, announced on Tuesday that individuals will be able to invest a portion of their retirement savings in bitcoin through their 401(k) investing plans.


MicroStrategy Inc, a prominent bitcoin corporate sponsor, will be the first company to use the new product, which will be offered to other companies by the middle of the year, according to the family-controlled asset manager.


Employees will be able to invest in bitcoin through a Digital Assets Account (DAA) within the basic lineup of their 401(k) plans as part of the new offering, according to Fidelity.


Newfront, a retirement consulting services provider, has also suggested that the DAA will help fulfill a rising need among their client base, according to Fidelity.


Plan sponsors will be able to decide on employee contributions to the DAA and set restrictions on how much of that money can be exchanged for bitcoin, according to Fidelity, who also stated that further information about the new product will be available in the coming months.


According to the Wall Street Journal, which was the first to publish the news, Dave Gray, president of Fidelity's workplace retirement solutions and platforms, said the scheme will initially be restricted to bitcoin, but that other digital assets will be made available in the future.


The news comes after US President Joe Biden signed an executive order in March mandating that the government study the dangers and benefits of developing a central bank digital currency, as well as other cryptocurrency concerns.

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