Greenland chairman Zhang Yuliang wants to help you invest in the stock market
In the news today one of China’s top developers has decided that selling stocks and bonds may be the new path to easy money and has opened its own brokerage. Also in the news, Korea’s Mirae sets up a new US property fund, and the world’s investment bankers show off their smarts by telling us how well real estate will sell in China and Japan. Read on for all this news and more.
China’s Greenland Group Opens Securities Division
Shanghai-based Greenland Holding Group, one of China’s three largest developers, quickened its pace of diversification after the company launched its first securities affiliate to pursue fast growth in the financial sector.
Geng Jing, chief executive of Greenland Financial, said on Tuesday that the establishment of the securities subsidiary was part of the effort to make financial services one of the developer’s three core businesses, alongside the consumer and construction segments. Read more>>
Mirae Launches $268M US Property Fund
Mirae Asset Global Investments has unveiled a fund investing in real estate in the United States, offering opportunities for retail investors looking for an alternate investment tool amid low interest rates and a volatile stock market.
The firm launched Mirae Asset MAPS US Real Estate Fund, Monday, which invests in prime office buildings located in Dallas, Texas. The asset management company aims at attracting 300 billion won ($268 million) by Sept 27. Read more>>
Mitsui to Build Second Taiwan Outlet Mall
Sanxin Outlets Co, a joint venture between Japanese real estate developer Mitsui Fudosan and Farglory Land Development, signed a contract Tuesday with Taiwan International Ports Corp. (TIPC) to build an outlet mall in the Port of Taichung.
It will be the second Mitsui Outlet Park in Taiwan after the outlet park it built in Linkou District in New Taipei. Read more>>
Japan Market Set to Slide Says Jefferies
Japan’s real estate market will likely reach its peak late next year before succumbing to structural headwinds, according to Jefferies, which downgraded its outlook for the Japanese real estate sector to underweight, citing weakness in office lease rates and condo sales.
Real estate developers have ranked as the third worst performing sector among the 33 Tokyo subindexes during the past three years, tumbling 7.4 per cent versus a 15 per cent gain in the Tokyo Stock Price Index. Read more>>
CLSA Says Mainland Housing Market to Continue Its Climb
China’s booming property market will continue to see prices rally in its largest cities, according to new research from CLSA, driven by sharp and continued rises in the cost of land suitable for development.
During the first half of the year, land prices grew on average by nearly 40 per cent, influenced by strong rises the country’s four top-tier cities, which in turn are expected to increase the price of new homes, CLSA’s regional head of property research Nicole Wong told the group’s annual investor’s forum in Hong Kong. Read more>>
China Capital Outflows Now at $400B for 2016
The leakage of China’s capital is unrelenting, even if it’s no longer at the top of investors’ minds. Events beyond Beijing’s control could make matters worse.
Chinese banks’ foreign-exchange data shows that capital continued to leave the economy in August—the 24th straight month of outflows, according to Goldman Sachs ’ gauge. And while at first glance the pace slowed from July, Standard Chartered said that when changes in foreign-exchange reserves are netted off against trade and investment flows, August turns out to have been the worst month since January. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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