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Retail trading craze fires up China’s brokers

A surge in internet trading by China’s retail investors has boosted the country’s brokers, awarding some of them a valuation in line with the world’s best-known banks. Average daily turnover on China’s stock market has hit Rmb874bn ($129bn) this year, according to data from Goldman Sachs, up nearly 60 per …

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Citi halts market making in retail options

Citigroup has closed its market making business in retail options, in a move that underscores how the boom in zero-commission trading has squeezed the profitability of the industry’s middlemen. The bank closed the business, which serves retail broker-dealers such as Charles Schwab and Fidelity, at the start of last month, …

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Active managers fail to beat the market again

Most active fund managers in the US failed to beat the market over the past year, according to another dispiriting report on an industry that often claims it will come into its own during periods of volatility. In a majority of the categories of US equity funds, the average active …

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SEC charges S&P employee with index insider trading

© REUTERS Well this is quite a story. Here’s the shot: Queens Man Charged in Insider Trading Scheme A criminal complaint was unsealed earlier today in federal court in Brooklyn charging Yinghang Yang with securities fraud for his role in an insider-trading scheme. Yang and a co-conspirator allegedly executed a …

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Asset managers set to launch China’s first Star 50 Index ETFs

China’s securities regulator has given the nod to the first four exchange traded funds to track Shanghai Stock Exchange’s Nasdaq-style Star Market. China Asset Management, E Fund Management, Huatai-PineBridge Fund Management and ICBC Credit Suisse Asset Management received approval from the China Securities Regulatory Commission last Thursday for their respective of …

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Investors wonder if the 60/40 portfolio has a future

The traditional 60/40 portfolio — the mix of equities and bonds that has been a mainstay of investment strategy for decades — is at risk of becoming obsolete as some investors predict years of underperformance by both its component parts. With stocks and government bonds at historically high valuations, savers …

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Asian stocks follow Wall Street lower as growth concerns mount

Stocks across the Asia-Pacific region slipped following a sell-off on Wall Street, as concerns that new waves of coronavirus could stall a global economic recovery rattled investors. China’s CSI 300 of Shanghai- and Shenzhen-listed shares and Hong Kong’s benchmark Hang Seng fell 0.4 per cent and 0.3 per cent, respectively, …

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Markets fall on fears of second wave of Covid infections

Global stock markets tumbled on Monday as concerns intensified about a second wave of coronavirus infections and investors digested the prospect of further lockdown measures crimping an economic recovery. Germany’s Dax index dropped by 4 per cent, its worst day since June. The tech-focused Nasdaq Composite shed 2 per cent, …

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Norway wants oil fund to increase US exposure

Norway is proposing that the world’s largest sovereign wealth fund plough more money into US equities in what would be the second big shift away from European investments in less than a decade. The country’s centre-right government laid out plans on Monday to change the $1tn oil fund’s reference index …

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