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ALLTOP, ASIA, BUSINESS, CHINA, CMD, MARKETS, NRG, TOP, WORLD, WWTOP, WWTOPAM, WWTOPAS, WWTOPEU Keywords: ALLTOP; ASIA; BUSINESS; CHINA; CMD; MARKETS; NRG; TOP; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN ALLTOP ASIA BUSINESS CHINA CMD MARKETS NRG TOP WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU China's national carbon market, which will become the world's largest emissions trading system, will finally begin trading on Friday, according to people familiar with the matter. [Extracted from the article]

Donald Trump, Xi Jinping and Vladimir Putin are among 21 leaders meeting in Vietnam this week for the Asia-Pacific Economic Cooperation summit. With a severely weakened Islamic State losing ground across Syria, Putin spokesman Dmitry Peskov has said the situation should be on the agenda for any Putin-Trump meeting at APEC. [Extracted from the article]

To contact the reporter on this story:Gerry Smith in New York at gsmith233@bloomberg.netTo contact the editors responsible for this story:Crayton Harrison at tharrison5@bloomberg.netPaul Barbagallo, Anthony Palazzo Attribution Gerry Smith: by reporter Paul Barbagallo: editor Anthony Palazzo: editor Crayton Harrison: editor responsible. [Extracted from the article]

(Bloomberg) -- A hawkish pivot by the Indian central bank has money managers scurrying to find safer bets while bracing for potentially the steepest rate hikes in Asia. The yield spread between three-year government papers and similar top-rated company bonds had turned negative in April from around 87 basis points in August, according to Bloomberg data. Yields have risen, and stocks pared gains since the Reserve Bank of India shifted focus to inflation from growth in April and indirectly tightened policy by introducing a higher floor interest rate. [Extracted from the article]

According to a white paper published by KKR & Co., Asia's credit markets present attractive investment opportunities due to strong demand for financing, undervalued assets, and high-quality issuers in the region. The recent defaults among Chinese property developers have reset asset prices, making them more appealing compared to similar deals in the US and Europe. The demand for financing in Asia exceeds supply, as banks have tightened lending criteria and investor support has been subdued. KKR believes this trend will continue or even intensify in the future. With a significant amount of high-yield debt maturing in the next few years, there is ample opportunity for players in both private and broadly syndicated markets. KKR also sees potential in select sectors in China, such as large technology firms with positive net cash flows and investment-grade insurers. Additionally, issuers in Hong Kong with offshore assets and limited exposure to China may have upside potential. The Asia-Pacific region's share of the global private credit market is growing rapidly, attracting investors with higher rates of return. KKR highlights that Asia's economic outlook is gaining momentum post-pandemic, particularly in business travel and tourism. The potential rate cut by the US Federal Reserve later this year is expected to further support growth in the region. [Extracted from the article]

The yield spread between three-year government papers and similar top-rated company bonds had turned negative in April from around 87 basis points in August, according to Bloomberg data. (Bloomberg) -- A hawkish pivot by the Indian central bank has money managers scurrying to find safer bets while bracing for potentially the steepest rate hikes in Asia. Yields have risen, and stocks pared gains since the Reserve Bank of India shifted focus to inflation from growth in April and indirectly tightened policy by introducing a higher floor interest rate. [Extracted from the article]

(Bloomberg) -- Hong Kong is set to announce that retail investors can trade crypto under its new rulebook for the sector, stepping up a push to develop a hub even as digital-asset firms and regulators clash elsewhere in Asia. Hong Kong in February outlined in its consultation paper a plan to let individual investors trade larger coins on exchanges licensed by the SFC. [Extracted from the article]

Traditional hedge funds are showing renewed interest in shorting Tether, a stablecoin that is widely used in the cryptocurrency market. Shorting Tether involves borrowing the stablecoin and selling it, with the hope of buying it back at a lower price and profiting from the difference. However, shorting Tether has proven challenging due to its role in facilitating trades in the crypto market and its status as the most traded cryptocurrency. There are opposing views on Tether, with some traditional finance investors expressing concerns about its risk profile, while crypto-natives, particularly in Asia, view it as a settlement payment. Shorting Tether is seen as an asymmetry trade by traditional firms, with limited downside and unlimited upside potential. Tether's reserves are said to be backed by cash and cash equivalents, short-term deposits, and commercial paper, with 53% of the reserves being commercial paper. Shorting Tether has been attempted in the past, but it has proven difficult to profit from due to the nature of the market. Tether is often traded at a premium during times of volatility, and buying Tether put options can be expensive and challenging. [Extracted from the article]

Traditional hedge funds are showing renewed interest in shorting Tether, a stablecoin that is widely used in the cryptocurrency market. Shorting Tether involves borrowing the stablecoin and selling it, with the hope of buying it back at a lower price and profiting from the difference. However, shorting Tether has proven challenging due to its role in facilitating trades in the crypto market and its status as the most traded cryptocurrency. There are opposing views on Tether, with some traditional finance investors expressing concerns about its risk profile, while crypto-natives, particularly in Asia, view it as a settlement payment. Shorting Tether is seen as an asymmetrical trade by traditional firms, with limited downside risk and unlimited upside potential. Tether's reserves are said to be backed by cash and cash equivalents, short-term deposits, and commercial paper, with 53% of the reserves being commercial paper. Shorting Tether has been attempted in the past, but it has proven difficult to profit from due to the nature of the market. Tether is often traded at a premium during times of volatility, and buying Tether put options can be expensive and challenging. [Extracted from the article]

QWBTRST0AFB5 (Bloomberg) - China's digital yuan trial has reached 34.5 billion yuan ($5.3 billion) in transaction value as the central bank continues to outpace global peers in developing a virtual currency. Keywords: %CNH; %CNY; ALLTOP; ASIA; ASIATOP; BON; BUSINESS; CHINA; COS; FIN; FRX; GOV; INDUSTRIES; MARKETS; TEC; TECSVC; WORLD; WWTOP; WWTOPAS EN %CNH %CNY ALLTOP ASIA ASIATOP BON BUSINESS CHINA COS FIN FRX GOV INDUSTRIES MARKETS TEC TECSVC WORLD WWTOP WWTOPAS China's digital yuan trial has reached 34.5 billion yuan ($5.3 billion) in transaction value as the central bank continues to outpace global peers in developing a virtual currency. [Extracted from the article]

ASIA, CLIMATE, GEN, LIFESTYLE, SCIENCE, WORLD Keywords: ASIA; CLIMATE; GEN; LIFESTYLE; SCIENCE; WORLD EN ASIA CLIMATE GEN LIFESTYLE SCIENCE WORLD Some of the earliest rock art yet known is weathering at an alarming rate, scientific paper concludes QT1WCQT0AFB5 (Bloomberg) -- Ancient paintings of humans and animals made between 25,000 and 45,000 years ago in Indonesia are deteriorating fast because of climate change. [Extracted from the article]

The fund's liquidators have accused the two founders of failing to cooperate with their efforts, court papers show, a characterization Zhu challenged on Twitter. Keywords: 0572731D; ALLTOP; ASIA; BUSINESS; COS; FIN; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; US; WORLD; WWTOP; WWTOPAS EN 0572731D ALLTOP ASIA BUSINESS COS FIN INDUSTRIES MARKETS NORTHAM TEC TECSVC US WORLD WWTOP WWTOPAS RH62F3T0AFBR In the affidavit, Zhu accused the liquidators of misleading the High Court of Singapore about the hedge fund's structure. [Extracted from the article]

Keywords: 0572731D; ALLTOP; ASIA; BUSINESS; COS; FIN; INDUSTRIES; MARKETS; NORTHAM; TEC; TECSVC; TOP; US; WORLD; WWTOP; WWTOPAM; WWTOPAS; WWTOPEU EN 0572731D ALLTOP ASIA BUSINESS COS FIN INDUSTRIES MARKETS NORTHAM TEC TECSVC TOP US WORLD WWTOP WWTOPAM WWTOPAS WWTOPEU RH7MR7T0G1L3 In the affidavit, Zhu accused the liquidators of misleading the High Court of Singapore about the hedge fund's structure. The fund's liquidators have accused the two founders of failing to cooperate with their efforts, court papers show, a characterization Zhu challenged on Twitter. [Extracted from the article]

Keywords: ASIA; BON; BUSINESS; FRX; JAPAN; MARKETS; WORLD EN ASIA BON BUSINESS FRX JAPAN MARKETS WORLD Overseas funds bought the second-highest amount of Japanese government bonds on record in June as enhanced returns using cross-currency basis swaps and index-linked demand fueled inflows. Overseas investors buying five-year JGBs using cross-currency swaps funded in euro or the Aussie dollar can earn around 50 basis points more than from similar-maturity German or Australian paper. QWIVMXT0G1KW (Bloomberg) -- Overseas funds bought the second-highest amount of Japanese government bonds on record in June as enhanced returns using cross-currency basis swaps and index-linked demand fueled inflows. [Extracted from the article]

Keywords: ALLTOP; ASIA; BUSINESS; CONS; CONSS; COS; GOV; INDUSTRIES; WORLD; WWTOP; WWTOPAS EN ALLTOP ASIA BUSINESS CONS CONSS COS GOV INDUSTRIES WORLD WWTOP WWTOPAS Malaysia is likely to hold a general election this year, according to the head of the largest party in the ruling Barisan Nasional alliance, the Star newspaper and other local media reported. Ahmad Zahid Hamidi, president of the United Malays National Organization, said Ismail might have a different reading about the election date but he would definitely have to consult with UMNO's top leaders, the paper said. [Extracted from the article]

The offshore debt of China's developers -- though typically high-yield -- also tends to be safer than local paper. "Onshore lending rates for those developers are much cheaper than their offshore lending rate, so now is a great time to buy their U.S. dollar bonds.". [Extracted from the article]

Final print edition in Europe will be on Friday, paper says The Wall Street Journal, part of Rupert Murdoch's News Corp., is closing down print editions in Europe and Asia as a result of shrinking advertising. The final print edition in Europe will be Friday, with the Asian edition ending a week later, the newspaper reported Thursday in an article, citing company officials. [Extracted from the article]

(Bloomberg) -- As governments in Asia struggle to reassure their populations over the coronavirus, public health experts say Singapore's approach in communicating to the public is providing a model for others to reduce panic, rumors and conspiracy theories. Nurses have gone on strike and residents have violently opposed quarantine sites, while residents have struggled to buy toilet paper, hand sanitizer, rice and other staples for more than a week. [Extracted from the article]

Keywords: 000750@CH; 000783@CH; 3908@HK; ASIA; BON; BUSINESS; CHINA; COS; CST; FIN; GOV; INDUSTRIAL; INDUSTRIES; MARKETS; REL; WORLD EN 000750@CH 000783@CH 3908@HK ASIA BON BUSINESS CHINA COS CST FIN GOV INDUSTRIAL INDUSTRIES MARKETS REL WORLD (Bloomberg) -- Chinese banks are scaling back loans to each other in a sign that they are likely lending more to companies and households as they tend to do at the start of each year. That rate fell to near zero levels last month as banks vied to lend money to each other to meet government quotas, and rising rates may indicate that financial institutions are now making more actual loans instead. [Extracted from the article]

Keywords: 000750@CH; 000783@CH; 3908@HK; ALLTOP; ASIA; ASIATOP; BON; BUSINESS; CHINA; COS; CST; ECOTOP; FIN; GOV; INDUSTRIAL; INDUSTRIES; MARKETS; REL; WORLD; WWTOP; WWTOPEU EN 000750@CH 000783@CH 3908@HK ALLTOP ASIA ASIATOP BON BUSINESS CHINA COS CST ECOTOP FIN GOV INDUSTRIAL INDUSTRIES MARKETS REL WORLD WWTOP WWTOPEU (Bloomberg) -- Chinese banks are scaling back loans to each other in a sign that they are likely lending more to companies and households as they tend to do at the start of each year. That rate fell to near zero levels last month as banks vied to lend money to each other to meet government quotas, and rising rates may indicate that financial institutions are now making more actual loans instead. [Extracted from the article]

Asia's high yield bond market needs a sustained sign that the flood of money exiting the asset class has subsided before investor confidence can fully return, though yields have risen to attractive levels, according to JPMorgan Asset Management. The yield on the ICE BofAML Asian Dollar High Yield Corporate Index reached 6.9 percent Wednesday, close to the highest in almost two years, according to data from Bank of America Merrill Lynch. [Extracted from the article]

Keywords: 1813@HK; 2007@HK; 3333@HK; 3908@HK; ALLTOP; ASIA; BNK; BON; BUSINESS; CHINA; COS; FIN; FRX; GLOBALMACR; HK; INDUSTRIES; MARKETS; REL; STK; WORLD; WWTOP EN 1813@HK 2007@HK 3333@HK 3908@HK ALLTOP ASIA BNK BON BUSINESS CHINA COS FIN FRX GLOBALMACR HK INDUSTRIES MARKETS REL STK WORLD WWTOP Country Garden Holdings Co., China's largest developer by sales, is raising HK$3.9 billion ($500 million) in a convertible bond sale to refinance offshore debt coming due within a year. Country Garden Sells $500 Million Convertible Bond (9:07 a.m. HK) Country Garden's convertible bond sale comes amid a spreading crisis in the real estate sector. R61CC2DWRGJE (Bloomberg) -- Country Garden Holdings Co., China's largest developer by sales, is raising HK$3.9 billion ($500 million) in a convertible bond sale to refinance offshore debt coming due within a year. [Extracted from the article]

Keywords: AGR; ALTNRG; ASIA; BUSINESS; CLIMATE; CMD; CONS; CONSS; COS; GEN; INDUSTRIES; MARKETS; NRG; SCIENCE; WORLD EN AGR ALTNRG ASIA BUSINESS CLIMATE CMD CONS CONSS COS GEN INDUSTRIES MARKETS NRG SCIENCE WORLD A new way to analyze how microbes live creates opportunity for breakthroughs in health and agriculture R54RWBDWRGG0 (Bloomberg) -- A cup of tea in 2006 changed genetic engineering forever. The discovery heralded a new era of genomics that is revolutionizing science and multiple industries and earned Doudna half the 2020 Nobel Prize in chemistry. [Extracted from the article]

Indian bonds are performing well compared to other Asian bonds despite fluctuations in US Treasuries. This makes Indian debt more attractive to investors, especially with its upcoming inclusion in major global indexes. Factors such as fiscal prudence, rupee stability, and positive domestic developments are contributing to the stability of Indian bonds. Additionally, India's foreign-exchange reserves are at a record high, and the rupee is the best-performing currency in emerging Asia. The government's reform programs and the possibility of Prime Minister Narendra Modi winning a third term are also boosting the appeal of Indian assets. [Extracted from the article]

Simon Sadler, the founder of Segantii Capital Management Ltd., a hedge fund based in Hong Kong, has been accused of insider trading along with one of its veteran traders. The allegations have raised questions about the firm's operations and how banks and clients will react. Some banks are reviewing their ties with Segantii, while others have decided to dial back dealings with the fund. Sadler and the trader appeared in court and did not enter a plea. The maximum penalties for insider dealing in Hong Kong are a fine of HK$10 million ($1.3 million) and 10 years' jail time. [Extracted from the article]

81074Z@PM, CEB@PM, PAL@PM, ALLTOP, ASIA, CMD, GEN, GENTOP, GOV, WORLD, WWTOP, WWTOPAS Keywords: 81074Z@PM; CEB@PM; PAL@PM; ALLTOP; ASIA; CMD; GEN; GENTOP; GOV; WORLD; WWTOP; WWTOPAS EN 81074Z@PM CEB@PM PAL@PM ALLTOP ASIA CMD GEN GENTOP GOV WORLD WWTOP WWTOPAS Typhoon Rai killed at least 1 person in the Philippines, while forcing 330,000 to flee their homes and leaving many more without electricity, authorities said. [Extracted from the article]

To contact the reporter on this story:Anindya Upadhyay in New Delhi at aupadhyay22@bloomberg.netTo contact the editors responsible for this story:Reed Landberg at landberg@bloomberg.netIain Wilson, Abhay Singh Attribution Anindya Upadhyay: by reporter Reed Landberg: editor responsible Iain Wilson: editor Abhay Singh: editor. [Extracted from the article]

Keywords: ALLTOP; ASIA; BUSINESS; CLIMATE; CMD; CMDTOP; CONS; CONSS; COS; ELC; GOV; INDUSTRIES; MARKETS; NRG; SPORTS; UTI; WORLD; WWTOP; WWTOPAS EN ALLTOP ASIA BUSINESS CLIMATE CMD CMDTOP CONS CONSS COS ELC GOV INDUSTRIES MARKETS NRG SPORTS UTI WORLD WWTOP WWTOPAS Singapore is reviewing the planned increase in its carbon tax for businesses with a view to possibly raising the levy higher than earlier indicated, according to Minister for Sustainability and the Environment Grace Fu. Singapore Says S$5 Carbon Tax "A Start" as It Eyes Higher Levy QWBL8QT1UM0X (Bloomberg) -- Singapore is reviewing the planned increase in its carbon tax for businesses with a view to possibly raising the levy higher than earlier indicated, according to Minister for Sustainability and the Environment Grace Fu. [Extracted from the article]

Japanese shares have outperformed other Asian markets, with the Topix index reaching its highest level in 34 years. The Nikkei 225 also reached its highest level since 1990. This strong performance is attributed to a weaker yen, falling bond yields, and bullish investor sentiment. Japanese shares were among the world's best performers in 2023, driven by improved shareholder value, the end of deflation, and a weak yen. However, potential headwinds for Japanese equities include possible changes to the Bank of Japan's monetary policy and yen appreciation. The electric appliances sector was the biggest contributor to gains in the Topix index. Some investors may be turning to Japan due to geopolitical and regulatory uncertainties in China and Taiwan. Wage data showing a slowdown in growth may influence the Bank of Japan's policy decisions. [Extracted from the article]

(Bloomberg) -- The world economy became less unequal in the years after 2008 as Asia's rising powers closed the gap with a crisis-hit West, according to new research by one of the pioneering scholars of global income distribution. There was "a perceptible slowdown in the growth of highest incomes", Milanovic writes. [Extracted from the article]

(Bloomberg) -- There's a wall of money out of Asia capping Treasury yields. Traders point to motivated buyers out of Asia, with bonds often gaining in early trade when yields are in this range, an indication of dip buyers attracted to the levels. [Extracted from the article]

(Bloomberg) -- There's a wall of money out of Asia capping Treasury yields. Traders point to motivated buyers out of Asia, with bonds often gaining in early trade when yields are in this range, an indication of dip buyers attracted to the levels. [Extracted from the article]

(Bloomberg) -- When China's largest residential property developer raised money this month, a third of interest came from banks that service the wealthy, a group keeping faith with the nation's beleaguered builders even as other investors flee. "Onshore lending rates for those developers are much cheaper than their offshore lending rate, so now is a great time to buy their U.S. dollar bonds.". [Extracted from the article]

(Bloomberg) -- The spreading coronavirus has health officials from the U.S. to Europe searching for answers. The novel coronavirus' spread in developed Asian nations has allowed both governments and app developers to harness technology as part of the response. [Extracted from the article]

(Bloomberg) -- The spreading coronavirus has health officials from the U.S. to Europe searching for answers. The novel coronavirus' spread in developed Asian nations has allowed both governments and app developers to harness technology as part of the response. [Extracted from the article]

(Bloomberg) -- The spreading coronavirus has health officials from the U.S. to Europe searching for answers. While it's too early to say the novel coronavirus is defeated in Asia -- even with China claiming its epidemic has peaked -- the Asian experience can be instructive for western nations now facing down the threat. South Korea, which has the highest infection tally in Asia outside of China, is testing more than 10,000 people a day, the fastest pace globally. [Extracted from the article]

(Bloomberg) -- Asian stocks eked out modest gains at the open Wednesday as investors monitored developments on U.S.-China trade talks. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all climbed to fresh records Tuesday. [Extracted from the article]

(Bloomberg) -- Indonesia opened temporary clinics to treat thousands of people suffering from acute respiratory illness in the haze struck regions as authorities stepped up efforts to douse forest and peatland fires threatening air quality in parts of Southeast Asia. Environment ministers from Malaysia and Indonesia have traded blame on the haze situation with Kuala Lumpur offering help to put out the forest fires. [Extracted from the article]

(Bloomberg) -- Asian diesel prices climbed on Friday after Russia's surprise export ban, even as a host of market watchers predicted that the curb wouldn't remain in place for very long. The export curb imposed by Moscow is the latest jolt suffered by energy markets since Russia's invasion of Ukraine in 2022 upended worldwide crude and product flows. [Extracted from the article]

Steeper Yield Curve Meantime, rate options traders are paying through the nose for protection against further increases in long-maturity Treasury yields. Some of the main moves in markets: Stocks S&P 500 futures rose 0.3% as of 1:30 p.m. Tokyo time. (Bloomberg) -- Chinese stocks climbed in an otherwise lackluster day for Asian equity markets while Treasuries consolidated ahead of a report on US non-farm payrolls. [Extracted from the article]

Some of the main moves in markets: Stocks S&P 500 futures rose 0.4% as of 10:54 a.m. Tokyo time. (Bloomberg) -- Shares in Asia climbed after an early stumble while a slump in Treasuries weighed on Australian and New Zealand government bonds. [Extracted from the article]

(Bloomberg) -- Investors across Asia earmarked China's ballooning levels of municipal borrowing as the region's number one financial risk this year in a survey that ranked their biggest concerns. In China, a property debt crisis has kept the mortgage-backed debt issuance market effectively shut for almost a year and a half. [Extracted from the article]

The country's newly elected government is looking to introduce fuel-efficiency standards in a win for EV makers. [ABSTRACT FROM AUTHOR]

Bank Julius Baer & Co. says India's bonds are overpriced after they skirted a global rout this month and the nation's underperforming stocks are more attractive. "It's better to buy good quality stocks with high dividend yield than bonds", he said, adding that "the long-term potential for stocks is higher than bonds' return potential". [Extracted from the article]

In the Philippines, lenders and conglomerates are now led by people who were there in 1997 and recall how quickly liquidity dried up when so-called "hot money" fled the country, central bank Governor Felipe Medalla said. Authorities have borrowed lessons from the turmoil in 1997 and even the 2008 global financial crisis that wiped out Southeast Asia's markets and sent their currencies diving, according to Indonesian Finance Minister Sri Mulyani Indrawati, who co-chaired the bloc's meeting. (Bloomberg) -- Hard-earned lessons from the 1997 Asian financial crisis are helping insulate the region from the banking stress being experienced in the US and Europe. [Extracted from the article]

Saudi Arabia sells most of its oil under long-term contracts to Asia, pricing for which is reviewed each month. (Bloomberg) -- Saudi Arabia lowered most oil prices for Asia, in a sign of the regional market weakening with the global economic slowdown. [Extracted from the article]

"There is a paradigm shift in the way that monetary policy is operating, as the central bank uses the liquidity tool over interest rates", said Suyash Choudhary, Mumbai-based head of fixed income at IDFC Asset Management Co. that oversees about 543 billion rupees of assets. "The factor that's been most instrumental in the rally has been the RBI's bond purchases", said Manish Wadhawan, HSBC's Mumbai-based head of interest-rate trading. [Extracted from the article]

Brunner says bank has no legal basis to freeze deferred bonus Brunner's lawsuit alleges that BSI's Singapore unit breached bonus agreements and a separation pact with him, according to documents filed on July 4 in the Singapore High Court. [Extracted from the article]