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CN : Property - Overall - Developers’ Jun sales likely rose 47% mom

Developers’ Jun 2022 sales likely jumped by 47% mom, much stronger than their c.10% guidance at our conference in mid-Jun. SOE developers’ sales were particularly strong (60-135% growth), while private quality developers (e.g. Longfor) also outperf....
CGS-CIMB Raymond
Raymond Cheng @ CGS-CIMB 1 July 2022

The profitability of emerging markets fintechs

The ‘growth at any cost’ approach that some fintechs have taken is now likely a thing of the past, as access to funding becomes tougher. Our survey also points to the importance of scale; larger fintechs tend to be more profitable than their smaller ...
Tellimer Research Rohit
Rohit Kumar @ Tellimer Research 1 July 2022
The profitability of emerging markets fintechs
The profitability of emerging markets fintechs

Near term outlook for African bonds is gloomy as inflation pressures build

Oil prices have gapped sharply lower this morning as commodities in general have taken a battering from growing recession concerns. Egypt’s GDP growth rate slowed to 0.8% q/q in Q1 from 4.6% q/q in Q4, reflecting the impact of the war in Ukraine, whi...
ETM Analytics Kieran
Kieran Siney @ ETM Analytics 1 July 2022

CN : Strategy - Launch of ETF Connect: a new step to bring HK and mainland China capital markets closer

On 27 Jun, the SFC and the CSRC announced the inclusion of eligible ETFs in Stock Connect, with effect from 4 Jul. A detailed initial list of ETFs eligible for Stock Connect trading was published on 28 Jun. We analyzed 83 ETFs eligible for Northboun....
CGS-CIMB Mark
Mark Po @ CGS-CIMB 30 June 2022

CN : Strategy - Jun 22 PMI back to over 50; SME segment finally catching up; exports and employment worth close monitoring

The Jun 22 manufacturing PMI rose over 50, from 49.6 in May and 47.4 in Apr, indicating a recovery. This is in line with our previous discussion. The non-manufacturing PMI also rose above 50 in Jun 22, which indicates a more broad-based recovery af....
CGS-CIMB Mark
Mark Po @ CGS-CIMB 30 June 2022

Daily Credit Briefing

Top Credit Stories BANKS - Termination of coverage CONSUMER - Termination of coverage FINANCIALS - Termination of coverage HIGH YIELD - Termination of coverage: INDUSTRIALS - Termination of coverage  
UniCredit Sven
Sven Kreitmair @ UniCredit 30 June 2022