Asian Midday Marketwatch – China applies to join CPTPP

• China applies to join Comprehensive and Progressive Agreement for Trans-Pacific Partnership. The CPTPP which was signed by 11 countries including Australia, Canada, Chile, Japan and New Zealand in 2018. What should we read into this.

• Snowed under its crushing debt of US$300 billion, Evergrande is so huge that the fallout from any failure could hurt not just China’s economy. Jeff comments on weather or not the fear that Contagion could spread to markets beyond China is justified.

• Singapore’s government announces a series of initiatives to boost the domestic stock market The government will co-invest with state investment firm Temasek in a new fund to support “promising high-growth” companies. The fund will start with a first tranche of 1.5 billion Singapore dollars (US$1.1 billion).

• Other initiatives include the setting up of another new fund to invest in later-stage companies and work toward an eventual listing in the city-state. The fund will start with up to SGD500 million. Jeff shares his thoughts on the new initiatives including a key question….will this be enough to get Unicorns to invest in the SGX.

Guest: Jeffrey Halley, Senior Market Analyst Asia Pacific at OANDA

Presenter: Brian Fernandez

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