Updated throughout the day
September 21
Good evening everyone. Asian shares ended mixed today amidst a bloodbath in financial and energy stocks. Mainland China was among those which managed to put on some points on the board, Hong Kong and South Korea, not so much:
- SHCOMP: +1.89%
- SZCOMP: +3.55%
- Hang Seng Index: -1.10%
- Hang Seng China Enterprises Index: +1.74%
- Straits Times Index: -0.02%
- KOSPI: -1.57%
The European markets meanwhile are trading mostly higher at the moment with the FTSE 100 nudging up 0.3%, the CAC climbing 0.4%, while the DAX – perhaps unhappy that Tsipras won the election – is currently down 0.7%. Here’s what else you need to know:
Greek bond yields head lower. With Alexis Tsipras victorious – and the Syriza party forced to work alongside the right-wing Independent Greeks – the Greek 10-year bond yield fell a full basis point to 8.22%. Greek banking shares meanwhile have rebounded 76% from its August lows – an awesome showing for a beaten-down sector. It’s still down 81% year on year though. Financial Times (paywall)
Malaysian police confirm body of missing DPP. Anthony Kevin Morais, a Deputy Head of the Attorney-General’s Chambers Appellate and Trial Division that had worked on the 1MDB task force, has been identified as the man found dead in a drum filled with concrete in Subang Jaya, Selangor. Channel News Asia
China, Russia team up to build airliners. Yury Slyusar, president of the Russian state-controlled United Aircraft Corp (UAC), was quoted saying that the UAC and the state-backed Commercial Aircraft Corp of China are on the cusp of working together to build wide-body airliners. Reuters
Chinese business sentiment hits market rout lows. The MNI China Business Indicator, one of the most closely-watched business sentiment surveys, fell to 51.3 in September — a reading 8.4% lower than August’s figure and a low unseen since July’s market rout. Much worse however, is the fact that future expectations fell to its lowest level since 2007. Financial Times (paywall)
China home sales head for the moon. Existing home sales in China reportedly grew 115% from the year before, but can the nation be able to sustain it? The Telegraph
Companies accelerate use of carbon pricing.The number of companies putting a price on their carbon pollution has risen sharply in the past 12 months as governments prepare to agree on tougher action to combat climate change later this year. General Motors, Glencore, and Cathay Pacific are among 437 companies reporting the use of carbon pricing measures to environmental data group CDP. Financial Times
Apple’s China apps hacked. Some of the most popular Chinese names in Apple Inc.’s App Store were found to be infected with malicious software in what is being described as a first-of-its-kind security breach, exposing a rare vulnerability in Apple’s mobile platform, according to multiple researchers. Wall Street Journal
New Aussie PM unveils his cabinet.Australia’s new prime minister, former Goldman Sachs banker Malcolm Turnbull, has unveiled his cabinet, less than a week after ousting Tony Abbott in a Liberal party leadership contest. The reshuffle – which includes five women – follows a Liberal victory in a by-election in Western Australia at the weekend. Financial Times (paywall)
Mexican tourists hurt in Egypt air attack return home. The six Mexican survivors of an air attack by Egyptian security forces on a group of Mexican tourists and their Egyptian guides returned to their country on Friday as the Mexican government said it would seek compensation on their behalf from Egypt. The New York Times
Google to revive the Glass. Google is working on a new wearable technology effort known as Project Aura and is hiring consumer electronics experts from Amazon’s secretive Lab126 to jump-start the new group. Project Aura appears to have gotten started in June and is focused on reviving Google’s troubled Glass computer eyeglasses. Business Insider
Obama picks first openly gay man to lead the US army. US President Barack Obama on Friday nominated Eric K. Fanning to be secretary of the Army, which could make him the first openly gay secretary of a U.S. military branch. The US Senate must confirm Fanning before he can lead the Army. CNN.
Malaysian police confirm body found encased in concrete is of missing DPP. The body found in a drum filled with concrete was that of Deputy Head of the Attorney-General’s Chambers Appellate and Trial Division, Anthony Kevin Morais. Morais had worked in the special taskforce set up to probe Malaysian state fund 1MDB after it racking up more than RM42 billion (US$11 billion) of debt. Channel News Asia
Died: Romance novelist Jackie Collins at age 77. The legendary chronicler of Hollywood sex and glamour died on Saturday in Los Angeles after a private struggle with breast cancer. Variety
Died: Art critic Brian Sewell at age 84. Sewell, an art critic at the London Evening Standard for more than 30 years who was known for his outspoken and controversial views, died at his London home on Saturday after battling with cancer. BBC
You wont believe this…
Not seeing is believing, the invisibility cloak nears reality. Scientists have successfully tested an ultra-thin invisibility cloak made of microscopic rectangular gold blocks that, like skin, conform to the shape of an object and can render it undetectable with visible light. The researchers said while their experiments involved cloaking a miniscule object they believe the technology could be made to conceal larger objects. Reuters
Concorde could fly again. A group of British enthusiasts says it has raised enough money to buy a Concorde with the aim of getting it flying again by 2019. Club Concorde, made up of former captains, charterers and aviation fans, says it has £120m in reserve for the “return to flight” plan.
BBC.
UK holds dad dancing championship. Head spins, floor shuffles and one-legged jumping all featured in this year’s Dad Dancing World Championships held in South Devon, the competition is part of Dadfest in Kingsbridge, which is now in its second year. BBC.
Photo: Charis Tsevis