South Africa’s stock benchmark has fallen 10% since peak in late February as investors pull away from overheated markets while conflict in the Middle East drags on. The FTSE/JSE Africa All Share Index slid 1.5% to 115,252.20 on Friday. If it closes below 115,610.13, that would mark a 10% slump from the last peak, meeting the definition of a market correction. “The highly liquid South African marke...
South Africa’s stock benchmark has fallen 10% since peak in late February as investors pull away from overheated markets while conflict in the Middle East drags on. The FTSE/JSE Africa All Share Index slid 1.5% to 115,252.20 on Friday. If it closes below 115,610.13, that would mark a 10% slump from the last peak, meeting the definition of a market correction. “The highly liquid South African markets often enable global investors to use local assets as early selling destinations in lieu of other EMs that may be more difficult to get out of,” said Herman van Papendorp , head of asset allocation at Momentum Investments. “The higher oil price related to the Iran war feeds into worries about higher South African inflation.” South African stocks had been one of the big winners of last year, jumping 38% in 2025 in a rally helped by a meteoric surge in gold prices and signs of cooler inflation. But with oil prices topping $100 a barrel and the war in the Middle East putting a chill on investor sentiment, investors have quickly unwound those bullish bets. The losses now mean South African stocks rank among the worst-performing in the world, with a 15% drop on a US dollar basis since Feb. 27. “There is always a risk of flows reversing, and while valuations are perhaps not as attractive as we have seen in, let’s say 18 months ago, valuations are far from excessive,” wrote Lester Davids, an analyst at Unum Capital. The benchmark is still relatively cheap, with an estimated forward price-earnings ratio of 15.6, compared with 18.6 for MSCI’s emerging-market stock gauge, according to data compiled by Bloomberg.
Before it was swept up in Hong Kong’s biggest financial-industry raids since 2017, hedge fund firm Infini Capital Management Ltd. was already a subject of intrigue in the city’s close-knit financial community. Founded by former investment banking analyst Tony Chin , Infini developed a reputation for negotiating directly with companies for share placements, encroaching on the territory of investmen...
Before it was swept up in Hong Kong’s biggest financial-industry raids since 2017, hedge fund firm Infini Capital Management Ltd. was already a subject of intrigue in the city’s close-knit financial community. Founded by former investment banking analyst Tony Chin , Infini developed a reputation for negotiating directly with companies for share placements, encroaching on the territory of investment banks that typically manage deals, according to people familiar with the matter. It was also willing to take bets bigger than the assets in its hedge fund, the people said. While Infini courted attention with unorthodox fee models and hires that included alumni of global investment giants like Millennium Management and Point72 Asset Management, some aspects of the firm were shrouded in mystery. Goldman Sachs Group Inc. and Morgan Stanley didn’t onboard Infini as a client because of know-your-customer rules, according to people familiar with the matter. JPMorgan Chase & Co. and UBS Group AG cut prime-brokerage ties with the firm several months ago, people familiar said. The banks all declined to comment. Infini was thrust into the spotlight this week after people familiar with the matter said its office was raided by Hong Kong authorities alongside those of brokerages Citic Securities Co. and Guotai Junan International Holdings Ltd. The two Chinese brokerages confirmed that regulators visited their Hong Kong offices with search warrants and seized documents, according to separate exchange filings on Thursday. Infini and Chin didn’t respond to multiple requests for comment. Following the raids, Hong Kong’s Securities and Futures Commission and the city’s Independent Commission Against Corruption released separate statements saying they were investigating senior executives alleged to have exchanged confidential information for bribes. They didn’t name the firms involved. They raided more than a dozen locations, arrested eight people and said they had uncovered alleged inside...
Frank Chan Hong Kong can leverage its unique advantages to serve as a bridge between China’s export-oriented enterprises and the European Union’s new “carbon tariff,” according to a top lawmaker, helping companies convert emission reductions into internationally recognized carbon assets and turn decarbonization into tangible revenue. Frank Chan, a deputy to the National People’s Congress and vice ...
Frank Chan Hong Kong can leverage its unique advantages to serve as a bridge between China’s export-oriented enterprises and the European Union’s new “carbon tariff,” according to a top lawmaker, helping companies convert emission reductions into internationally recognized carbon assets and turn decarbonization into tangible revenue. Frank Chan, a deputy to the National People’s Congress and vice president of the Hong Kong Institution of Engineers, outlined this strategy during an interview with Caixin following the conclusion of the fourth session of the 14th NPC in Beijing on March 12. He also included the recommendation in his formal legislative proposals.
Ministers face accusations of carrying out ‘irresponsible deregulation’ as they push through ‘clean energy’ proposals Ed Miliband has unveiled plans to cut regulations, costs and bureaucracy by the end of next year to speed up the development of nuclear power generation. The UK government said the changes, to be carried out this year, would deliver a “win-win for building critical infrastructure w...
Ministers face accusations of carrying out ‘irresponsible deregulation’ as they push through ‘clean energy’ proposals Ed Miliband has unveiled plans to cut regulations, costs and bureaucracy by the end of next year to speed up the development of nuclear power generation. The UK government said the changes, to be carried out this year, would deliver a “win-win for building critical infrastructure while protecting nature and the environment”. Continue reading...
The company said in a statement on Thursday that its typical commission on purchases will drop to 25% from 30% for its mainland China App Store. The move is effective March 15 and applies to apps for both iOS and iPadOS, Apple said on its developer website, noting the shift follows “discussions with the Chinese regulator.” The iPhone maker is also trimming the rate for mini apps — the lightweight ...
The company said in a statement on Thursday that its typical commission on purchases will drop to 25% from 30% for its mainland China App Store. The move is effective March 15 and applies to apps for both iOS and iPadOS, Apple said on its developer website, noting the shift follows “discussions with the Chinese regulator.” The iPhone maker is also trimming the rate for mini apps — the lightweight programs that run within platforms like Tencent Holdings Ltd.’s WeChat — to 12% from 15%.
The chancellor is set to meet with energy bosses over concerns that companies are profiteering from oil and gas prices Good morning and welcome to our live coverage of UK politics. Chancellor Rachel Reeves has asked the competition watchdog, the Competition and Markets Authority (CMA), to “crack down” on “rip off” fuel prices as she prepares to meet energy bosses amid concerns companies are profit...
The chancellor is set to meet with energy bosses over concerns that companies are profiteering from oil and gas prices Good morning and welcome to our live coverage of UK politics. Chancellor Rachel Reeves has asked the competition watchdog, the Competition and Markets Authority (CMA), to “crack down” on “rip off” fuel prices as she prepares to meet energy bosses amid concerns companies are profiteering off the US and Israel’s war with Iran. The Conservative party continue to accuse the government of a “cover-up” after it released documents relating to Peter Mandelson’s 2024 appointment as ambassador to the US. Shadow housing secretary James Cleverly said the government published the “wrong versions of the documents”, while shadow Cabinet Office minister Alex Burghart suggested there was “missing” correspondence in the published material. Downing Street has rejected the accusations. The UK economy entered the Middle East crisis after a weak start to the year, according to official figures showing flatlining January output before the US-Israel war on Iran hit global energy prices. Figures from the Office for National Statistics (ONS) showed 0% growth in gross domestic product (GDP), down from an increase of 0.1% in December, as the economy failed to recover from uncertainty surrounding Reeves’s autumn budget. Prime minister Keir Starmer could suffer further resignations when ministerial WhatsApp messages are published in the next tranche of the Mandelson files, senior government sources have told the Guardian. Starmer apologised again yesterday over his handling of Mandelson’s appointment, saying: “It was me that made a mistake, and it’s me that makes the apology to the victims of [Jeffrey] Epstein, and I do that.” Continue reading...
The Iran women's national football team have become "heroes" and deserve to be free to live their lives, says former Iran men's head coach Afshin Ghotbi.
The Iran women's national football team have become "heroes" and deserve to be free to live their lives, says former Iran men's head coach Afshin Ghotbi.