Shanghai stock exchanges

LONDON (Reuters) - The "frothy" U.S. market for special purpose acquisition vehicles (SPACs) could see investors coming off "poorly", London Stock Exchange Chief Executive David Schwimmer (pic) warned on Friday after proposals for Britain to loosen SPAC listing rules. Listings of the so-called "blank cheque" companies which use the proceeds to take private firms public through a reverse takeover, have rocketed in New York and exchanges in Europe like Amsterdam are keen to jump on the bandwagon. That has raised concerns about inflated valuations. "There is clearly some froth in the U.S. market for SPACs," Schwimmer told reporters. "Some of that could end poorly for some of either those opportunities or some of those investors." A government review this week recommended making it easier for SPACs to list on the LSE. Schwimmer said there have always been speculative cycles in markets and SPACs do have a role to play in the capital market, but it was important that investors use … [Read more...] about Beware of frothy SPACs, London Stock Exchange warns investors

Sell-off, system error behind VN-Index decline The Saigon Times A trader of a securities firm monitors stock prices. The VN-Index lost 0.42 points at 1,168.27 today, March 8, with 274 advancers and 183 decliners – PHOTO: VNA HCMC – Strong selling pressure and the overload of order placing on the Hochiminh Stock Exchange sent the VN-Index down slightly today, March 8. At the close, the main index lost 0.42 points, or 0.04%, from the session earlier, at 1,168.27, with 274 advancers and 183 decliners. Trade volume totaled over 652 million shares worth VND15.6 trillion, up 9.7% in volume and 4% in value against the previous session. There were 25.2 million shares valued at VND1.2 trillion traded in block deals. The bluechip group was one of key drags on the southern bourse, with housing developer VHM, lender VCB and consumer goods company MSN dipping by 1.2%-2% each. Other largecaps such as bank stock TCB, dairy firm VNM, retailer VRE and tech firm FPT were in … [Read more...] about Sell-off, system error behind VN-Index decline

Small investors oppose expanding trading lot Ho Chi Minh City Stock Exchange (HOSE)’s proposal to raise the minimum trading lot to 1,000 shares is receiving mixed opinions from market experts and investors. The proposal was initiated by newly-appointed General Director of HOSE Le Hai Tra as a solution to reduce system overloads which have troubled traders recently. A 1,000 minimum trading lot will limit the participation of small investors, while the stock market is moving towards fairness and equality, said a budding investor. “My friends and I, when joining the stock market, only have a few tens to several hundreds of millions of dong, raising the minimum trading lot to 1,000 shares will directly affect our investment capacity,” said individual investor Diep. “With expensive stocks, we may have to spend hundreds of millions of dong to buy the minimum 1,000 shares,” she said. According to Diep, the stock market has never had such a chance for growth. New cash flow into … [Read more...] about VIETNAM BUSINESS NEWS MARCH 8

LONDON: Britain will "modernise" its listing rules to attract more high-growth and "blank cheque" SPAC company flotations to London, Finance Minister Rishi Sunak said on Tuesday. The London Stock Exchange is facing tougher competition from NYSE and Nasdaq in New York, and from Euronext in Amsterdam since Britain fully left the European Union on Dec. 31. In a bid to keep London globally competitive after Brexit, Sunak commissioned a review of listings rules last November. It was led by former European Commissioner Jonathan Hill and will publish its recommendations on Wednesday. "The review has more than delivered and I'm keen we move quickly to consult on its recommendations, cementing the UK's reputation at the front of global financial services," Sunak said in a statement. The government faces pressure to act - it announced a fast-track work visa scheme last week for fintechs - after swathes of euro stock and swaps trading left London for Amsterdam and New York after full … [Read more...] about Britain to ease listing rules to buttress London after Brexit

Since she joined property developer Sena Development Plc 17 years ago, 2020 turned out to be one of the most memorable years for Kessara Thanyalakpark. Despite the Covid-19 pandemic, her company still managed to achieve record revenue, record pre-sales and a high net profit. She was also promoted to managing director. Last year was the best year for the company despite the virus crisis. The company's strong performance was derived from the foundations she had spent five years previously laying down, initiatives she had worked hard to push before the pandemic struck. "Frankly speaking, if I had not spent 100% of my full time working with the company five years ago, joint ventures such as the one with Japanese partner Hankyu Hanshin Properties and the new initiatives like the solar homes and Made From Her campaign would not have happened," she said. In 2004, while working as a full-time lecturer in banking and finance at Chulalongkorn University's Faculty of Commerce and … [Read more...] about The woman behind solar residential properties

Lithium Co said on Monday it would pay 1.47 billion yuan ($225 million) to take a 49% stake in a lithium salt lake project operated by compatriot China Minmetals Corp in Qinghai. The move will give Ganfeng, one of the world's top producers of lithium chemicals used in electric vehicle ( EV ) batteries, its first salt lake asset in China, adding to interests it holds in Argentina. Salt brines are one of the world's major sources of lithium, the other being the lithium-bearing mineral spodumene. Ganfeng and subsidiary Qinghai Liangcheng Mining Co will acquire investment fund Yili Hongda, a filing to the Shenzhen Stock Exchange said. Yili Hongda, majority-owned by Citic Securities, holds a 49% stake in Minmetals' Yiliping salt lake project in Qaidam Basin in the high-altitude province of Qinghai on the Tibetan Plateau. The project uses the salt lake's brines to make battery chemical lithium carbonate , as well as potassium chloride, said the filing, which added the … [Read more...] about Ganfeng joins China Minmetals lithium salt lake project for $225 mln