RBI’s Rajan Exits: All Eyes On The Successor Now

India’s rupee and stocks narrowed earlier losses and the Sensex Index gained 0.4% at the time of the publication.  Does it mean the Reserve Bank of India Governor Raghuram Rajan‘s decision to leave is a non-event?

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Why China’s Large Banks Have Outperformed Lately

China’s largest banks have been doing well since mid-May.

Since May 19, China Construction Bank (939.Hong Kong) has rallied 12%, Bank of Communications (3328.Hong Kong) gained 11%, CITIC Bank (998.Hong Kong) rose 8%. On the other end of the spectrum, mid-sized China Merchants Bank (3968.Hong Kong) was up only 3%.

What happened?

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Time To Take Profit On Geely Auto?

China’s Geely Auto (175.Hong Kong) has soared more than 50% since its late February low, as market sentiments improved and Geely turned out a better play on China’s SUV growth than say, market leader Great Wall Motor (2333.Hong Kong).

But according to Morgan Stanley, it is time to take profit. The bank downgraded this stock to Neutral today.

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Toshiba: NAND Profits Rising, Credit Suisse Raises Target By 35%

Toshiba Corp. (6502.Japan) soared 4.4% this morning after Credit Suisse issued a bullish report, raising its price target by 35% to 360 yen. Also helping this stock was an explosion at a power plant near competitor Samsung Electronics‘s (005930.Korea/SSNLF) 3D NAND factory in Xi’an, China on Saturday morning. Samsung said the NAND fab resumed operation later that day and will go back to full utilization later this week.

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Vanke Slumps On $6.9 Billion Share Sale Dilution; China Resources Objects

The saga on who will control China Vanke (2202.Hong Kong), the largest real estate developer in China, is set to continue.

After the Friday market close, Vanke proposed to buy two projects from Shenzhen Metro at 45.6 billion yuan ($6.9 billion), by issuing 2.9 billion new shares, or 26% of existing capital at 15.88 yuan each. This proposed share sale represents 35% discount to its mainland A-share’s last close and 7% premium to its Hong Kong share’s last close.

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Gaming: Why Is Genting Singapore Sitting On So Much Cash? Bernstein Downgrades

Genting Singapore (G13.Singapore) currently has over 5.2 billion Singaporean dollars sitting on its balance sheet, a significant amount for a company that has only S$8.7 billion market cap. Meanwhile, its management has no intention to boost its share price, which has slumped 23% in the last year, with buybacks.

As a result, Bernstein Research downgraded this stock from Buy to Hold, with S$0.80 price target.

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Credit Suisse Sees Rupee At 71 After Rajan’s Surprise Exit From RBI

Over the weekend, well-respected Reserve Bank of India Governor Raghuram Rajan surprised the world by announcing that he would leave the Indian central bank and return to academia in September.

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Pound Jumps, Asian Markets Surge As Brexit Odds Fall

The British pound jumped 0.8% to 1.4563 per dollar, trading as high as 1.4612 this morning, as the latest opinion poll showed last week’s Brexit momentum was breaking after the tragic murder of British lawmaker Jo Cox.

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Brexit: India’s Ties With Europe Run Deep

Recent opinion polls indicate that the probability of Brexit is rising.

India’s stock markets rose with the rest of Asia today, as Britain halts the Brexit campaign for a second day after the tragic murder of a Bremain lawmaker. However, we still need to be prepared and think through risks and opportunities.

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How Societe Generale Is Positioned In Asia

In Asia, where China is not the only one with a mounting debt problem and Japan has gone down the negative interest rate route, how should investors position themselves?

Societe Generale has 4 investment themes.

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