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Kinger Lau, chief China equity strategist in Hong Kong at Goldman Sachs. Photo: Dickson Lee
Banking & finance

Goldman Sachs’ 35 meetings show China stocks back on radar after fund purge

What has happened is that Beijing has activated the ‘policy put’, or whatever it takes to rescue the market, Goldman says.

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Banking & finance

China’s finance sector liberalisation to favour foreign firms: BOC chairman

China stock market

Mobius joins Goldman bet on China boost for emerging-market equities

China's economic recovery

Explainer | How China’s 2024 stimulus compares with past packages, and what’s next?

In nominal terms, the massive package has the potential to be China’s biggest ever.

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As part of China’s new stimulus package, the People’s Bank of China (pictured) has factored in an estimated 2 trillion yuan worth of bond issuance to help consumers and encourage local government spending. Photo: Shutterstock
China stock market

Wall Street jumps on China stocks after Beijing wields stimulus ‘big guns’

Chinese stocks are on a tear, and prominent figures including billionaire investor David Tepper and Goldman Sachs’ Scott Rubner are all in.

Singapore

Explainer | From Facebook intern to TikTok CEO: a closer look at Singapore’s Shou Zi Chew

TikTok’s 41-year-old Singaporean CEO is facing an uphill battle to keep the platform alive in the US, while also maintaining a public profile.

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Stocks

European luxury shares suffer rout as Chinese forgo high-priced goods

China’s rich, who once flocked to upscale boutiques in Paris, Milan and Hong Kong, may not return amid the economy’s downward spiral.

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Products on display at a Louis Vuitton store in the Wangfujing shopping area in Beijing on September 13, 2024. Photo: Bloomberg
Banking & finance

China’s top state-backed brokers are merging to take on Wall Street

State-backed brokerages Guotai Junan and Haitong Securities are merging to create a firm with US$237 billion in assets to rival Wall Street.

Yuan

Interest rates, US election adding to yuan volatility: Goldman

Moves by the US Federal Reserve, as well as November’s US presidential election, would discourage selling the yuan, Goldman Sachs said on Friday.

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China stock market

China’s stock traders cannot gauge mood as regulator cuts access to data

The Shanghai and Shenzhen exchanges will only publish limited information once per day of trading conducted via the northbound link of the Stock Connect scheme.

China’s US$8.3 trillion stock market has seen an exodus of foreign investors in recent months. Photo: Bloomberg
US-China relations

US first, China second-to-last among G20 ranking for diplomatic pay, study shows

Report by International Intrigue shows Beijing diplomats’ salaries are ahead of only Jakarta’s among 16 analysed G20 countries.

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The rankings were compiled by International Intrigue, a company created by former Australian diplomats. Photo: Shutterstock
Banking & finance

Hong Kong stocks slide after China’s third plenum underwhelms, geopolitics eyed

Hong Kong stocks tumbled on Friday after China’s third plenum announcement was light on details about measures to boost economic growth.

China’s third plenum

Xi tells party to show ‘unwavering faith’ in China’s reform plans

Official messaging suggests there will be no major changes in the country’s economic strategy despite growing challenges.

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Malaysia

Jho Low, US reach confidential deal to try to ‘forever’ resolve 1MDB-linked case

The confidential agreement, which has yet to be publicly disclosed, is tied to the announcement on Wednesday by the DOJ that it is to recover an additional US$100 million in resolving two civil forfeiture cases.

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Fugitive financier Jho Low has signed a secret deal with the US DOJ to “forever” end a 1MDB-linked forfeiture case, according to CNA. Photo: SCMP
Malaysia 1MDB scandal

Jho Low to forfeit Warhol, Monet art in US$100 million 1MDB settlement with US

The fugitive financier will also give up a luxury Paris flat and real estate and bank accounts in Hong Kong, Singapore and Switzerland.

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The US Department of Justice announced on Wednesday that it has reached an agreement with Malaysian financier Jho Low to recover more than US$100 million in connection with the 1MDB scandal. Photo: Sam Tsang
China stock market

Buy high-dividend Chinese stocks as firms build record cash piles, says Goldman

Investors should stick with buying stocks that promise good dividends in China’s stock market, as a policy push is likely to encourage more payouts, and the cash built up by listed companies is at an all-time high, according to Goldman Sachs.

China property

China needs to inject US$276b into property market to stabilise prices: Goldman

China needs to inject about 2 trillion yuan into its crisis-hit property market to mop up some 10 per cent of the housing inventory and stabilise property prices, Goldman Sachs said in a report.

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E-commerce

Shein, fast-fashion giant founded in China, said to be filing London IPO

The company, which runs a large sourcing centre in southern China, reportedly will file a confidential prospectus in the coming days.

A Shein pop-up store in Ottawa, Canada. Photo: Reuters
Italian Serie A

Inter Milan was a plaything for billionaire Zhang and son, but the money ran out

The Zhangs’ company lost control of the Italian champions after defaulting on a loan – an example of how European clubs have crumbled under massive debt.

E-commerce

PDD trades near cheapest level ever as tech war spooks investors

Shares of the parent of Temu and Pinduoduo are being held back by geopolitical risks and fierce competition in China’s e-commerce sector.

Malaysia 1MDB scandal

Malaysia’s 1MDB sues PetroSaudi executive, seeking US$1.83 billion

Troubled Malaysian state fund 1MDB has sued Petrosaudi International Ltd.’s executive Patrick Mahony for US$1.83 billion over a 2009 joint venture with the oil exploration firm.

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The 1MDB logo is seen on a billboard at the fund’s flagship Tun Razak Exchange under-development site in Kuala Lumpur. Photo: AFP
China stock market

Goldman Sachs leads bulls on Chinese stocks, but others remain cautious

‘It’s too early to leave the party,’ says an HSBC analyst as Goldman raises its index targets by at least 5 per cent, but JPMorgan Private Bank calls an end to the rebound.

Shoppers visit a mall complex in Beijing on May 10, 2024. Photo: AFP
Artificial intelligence

AI boom fuels demand for data centre deals in Asia-Pacific this year

Data centre deals in the Asia-Pacific this year are expected to surpass the region’s record tally of US$3.45 billion in 2023.

Banking & finance

Goldman Sachs, UBS, BNP turn more positive on Chinese stocks

Investment banks including Goldman Sachs, UBS and BNP have become more positive on Chinese stocks, with foreign selling having subsided. But the property crisis, deflationary risks and tepid consumer demand mean global investors are yet to go all ‘all in’.

Electric & new energy vehicles

BYD’s first-quarter profit, revenue slump amid bruising price war in China

The Warren Buffett-backed carmaker posted first-quarter net profit of 4.57 billion yuan (US$631 million), 47.3 per cent lower than the quarter ended December 2023.

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Visitors take a closer look at BYD’s new plug-in hybrid model at the Beijing International Automotive Exhibition on April 25. Photo: Kyodo
Mergers & Acquisitions

Billionaire Geiger is said to near US$7 billion L’Occitane buyout

Reinhold Geiger is considering making an offer for the L’Occitane shares he does not already own at HK$33 to HK$34 apiece as early as Monday.

Cosmetic products are displayed in the window of a L’Occitane cosmetics store in Paris on February 6, 2024. Photo: Reuters
China economy

Macroscope | Why China’s reform of state-owned enterprises matters more than ever

China’s campaign to improve the financial performance of listed SOEs comes as Japan’s stock market is benefiting from corporate governance reforms. However, China is not Japan. Beijing is battling a structural downturn, and corporate governance reforms alone are not going to turn sentiment around.

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Banking & finance

China’s sovereign fund launches US$1 billion Middle East fund with Investcorp

The Golden Horizon Fund, which will target companies across the Gulf Cooperation Council countries and China, marks the first time that CIC has invested in the Middle East.

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Goldman Sachs
Goldman Sachs
Goldman Sachs is a New York-based investment banking firm that engages in global investment banking, securities, investment management, and other financial services, primarily with institutional clients. Founded in 1869, the firm is recognised as one of the most prestigious institutions in the world, although its reputation has suffered after the financial sector drew fire since the global financial crisis.
Chairman / President
David Solomon
CEO / Managing Director
David Solomon
CFO / Finance Director
Lloyd Blankfein (Chairman and CEO)
Industry
Banking, Financial services
Website
GoldmanSachs.com
Headquarters address
200 West Street, New York, New York, U.S.
Stock Code
NYSE:GS
Year founded
1869
last updated:
30 September, 2024
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