It will probably be another red day (sadly, not the romantic Valentine’s day) at Asian equities markets on Tuesday after Wall Street’s drop overnight, as negotiations for a Greek bailout failed. Investors are also getting antsy on when the Fed will start its much-anticipated rate hike, and caution will rule ahead of the two-day meeting that will begin later in the day. Despite the uncertainty that envelopes trading floors, there is no stopping Legend Holdings from its initial share sale in Hong Kong. Read on…
SMBC eyes high-income clients for Citibank’s retail business in Japan. Sumitomo Mitsui Banking Corp is set to acquire Citibank’s 32 branches across the country and about 740,000 clients in November. The Japanese lender plans a new brand for the acquired business – Prestia – from the word “prestige.” Asian Nikkei Review
Legend Holdings to raise 15.17 billion Hong Kong dollars ($1.96 billion) from IPO. The parent of PC maker Lenovo will sell 352.9 million shares at 39.8-43 Hong Kong dollars a share in the former British colony from June 16-19. Asian Nikkei Review
China buys more U.S. Treasuries. For a second month in April, China posted an increase in its U.S. Treasury hoard. The country had $1.263 trillion of U.S. government debt, up from $1.261 trillion in March, but still below the $1.317 trillion peak posted in November. Reuters
Asian shares headed for cautious start. Investors will probably be sidelined by headlines about Greece and the Fed, which will begin its two-day meeting later in the day. The Nikkei is set for a listless session as both the Chicago and Osaka futures traded within its 20,387 close on Monday. CNBC
Hank Greenberg wins AIG bailout trial. Greenberg won his case to hold the U.S. government responsible for the terms of AIG’s $85 billion crisis bailout, but the court awarded Greenberg nothing in return. Greenberg’s Starr International was AIG’s biggest investor at the time of the bailout. Bloomberg
Jeb joins the GOP race. As anticipated, Jeb Bush has declared his candidacy in the 2016 presidential election. Bush is the 11th declared Republican candidate, and there may be more yet to come. Jeb is the younger brother of President George W. Bush, and the son of President George H. W. Bush. Politico
Mark Rubin is fittest man on Wall Street, again. Rubin, a 29-year-old former NFL and Penn State football player, won the Wall Street Decathlon for the fourth year in a row. The second fittest man is Collin Zych, and third place went to Jay Li. The trio also rounded out the top three finishers last year. The event raised about $1.5 million for Memorial Sloan Kettering Cancer Center’s pediatric cancer research. Business Insider
White woman resigns post as NAACP leader. Rachel Dolezal has resigned her role as the president of the NAACP Spokane, Washington, chapter following controversy about her race. Dolezal’s parents outed her as white last week, and some have likened her change in identity to black face. CNN
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