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On July 20, the Peoples Bank of China (PBOC) announced that it would keep the one-year and five-year loan prime rates (LPR) unchanged at 3% and 3.5% respectively, marking the 14th consecutive month that they have remained unchanged.Chinas five-year loan prime rate (LPR) as of July 20 was 3.5%, compared to an expected 3.50% and the previous value of 3.50%.Chinas one-year loan prime rate as of July 20 was 3%, as expected and unchanged from the previous value of 3.00%.July 20th Futures News: According to JLC Networks calculations, as of the first working day of July 20th, the change rate was 9.54%, with the average price of benchmark crude oil at $85.30/barrel. Domestic gasoline and diesel prices increased by 450 yuan/ton. The price adjustment window for this round of adjustments will close at 24:00 on July 31st. 1. Shandong Local Refineries: The surge in crude oil prices over the weekend led to a significant increase in oil prices at local refineries. Traders were actively buying, and gasoline and diesel inventories showed a downward trend. The opening rise in crude oil prices further boosted the bullish sentiment, and oil prices are expected to continue rising by around 100 yuan today. 2. East China: On Monday, crude oil prices closed higher, and this is the first working day after the price increase. It is expected that gasoline and diesel prices in East China will continue to rise today, with discounts narrowing in actual transactions. Traders will focus on immediate needs, with cautious buying and selling. 3. South China: On Monday, crude oil prices opened higher, supported by positive news. It is expected that gasoline and diesel prices in South China will maintain an upward trend today, with end-user companies making moderate purchases, and the buying and selling atmosphere remaining relatively stable. 4. North China: Following a rise in international oil prices on Monday, prices opened higher today. Positive news continued to boost prices, and with supply pressure easing, major gasoline and diesel suppliers in North China maintained a strengthening upward trend. Traders focused on immediate needs, with cautious acceptance of higher prices. 5. Central China: On Monday, crude oil prices surged at the close, and with the retail price increase taking effect on the first working day, major gasoline and diesel prices in Central China are expected to continue rising today. Traders maintained immediate needs, and market activity remained weak.Chinas one-year loan prime rate (LPR) up to July 20 will be announced in ten minutes.

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.