Singapore Exchange Ltd. has announced a new product that an excited hedge-fund manager described to me as the "most brilliant use of finance."That's an exaggeration, of course, though with a large grain of truth.SGX will launch three derivative products in June: SGX India futures; SGX India options; and SGX India bank futures.
It tells you something about the priorities of Southeast Asia's largest bank when it announces a hackathon to quickly recruit 100 budding technologists.DBS Group Holdings Ltd. hired the same number last year, but this year its needs are spread over a wider skill set, including user-interface design and mobile-application development, even scrum mastery, which, I understand, has nothing to do with rugby.All banks hire techies to manage back-end applications.
The Philippines is Asia's worst stock and currency market this year. A 6 percent slump in the benchmark index combined with a 4.6 percent slide in the peso means U.S. dollar-based investors are looking at double-digit losses. Year-to-date, foreigners pulled more than $580 million from shares, after inflows of $1.1 billion in 2017.Analysts aren't telling clients to buy the dip.
A hare can be outrun by a tortoise. Dalian Wanda Group Co.'s Wang Jianlin should have heeded the ancient wisdom and stuck with real estate.The conglomerate's fall from grace has been swift. As recently as 2015, Wanda was the fourth-largest property developer in China, generating 151 billion yuan (23.2 billion dollars) in sales, according to data from China Real Estate Information Corp.