Launch of Shanghai-Hong Kong Stock Connect a ‘watershed moment’

first_imgAs of 17 November, investors will be able to use Shanghai-Hong Kong Stock Connect to invest in almost 600 renminbi-denominated local shares of Shanghai-listed companies – directly and without the need for a license. Until now, investment has been possible only indirectly, and most often through expensive, Hong Kong dollar-denominated H-shares, Van den Brink said.He highlighted the “huge potential” of the Chinese market, “with 100m rich citizens, as well as 250m internal migrants who have been promised education and care in their new residence”.He added: “These migrants are the up-and-coming people with money. But, for the time being, they need the complete selection of Marks & Spencer. Rabobank has estimated that the disposable income of the average Chinese workers will have doubled by 2017 compared with 2009.”In Van den Brink’s opinion, the investment sector is now properly regulated, and the new government has the “political will” to reward shareholders.He said interest rates in China were “attractive”, and that the renminbi was relatively stable and on its way to becoming the world’s third trade currency, which can already be exchanged in London and Frankfurt.However, the Van den Brink – also a former professor of financial markets at Nyenrode Business University – warned against investing in “almost broke” local banks and “weak” state-owned enterprises.PME’s former CIO said China would refrain from introducing a capital gains tax for foreign investors, which will “boost” several investment funds, “as most of them had anticipated a 10% tax rate”.Van den Brink said he expected Chinese equities to become part of the MSCI within two years, and predicted that Chinese bonds and derivatives would, in turn, become available for foreign investors. The launch of the Shanghai-Hong Kong Stock Connect on 17 November will be a “watershed moment” and an excellent opportunity for European pension funds to invest in China, according to Roland van den Brink, former CIO at the €38bn Dutch metal scheme PME.“For institutional investors prepared to look thoroughly into the options and build personal relations, there are interesting opportunities,” he said.Since PME invested in local A-shares more than 10 years ago, Van den Brink has been monitoring developments closely, he said.“The climate for foreign investment in China – 8% of the world market – is maturing,” he added.last_img read more

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Bielema makes case for Clay, Borland

first_imgWisconsin head coach Bret Bielema gives an inspiring speech to his kick off coverage unit after a Badger touchdown Saturday.[/media-credit]Following a 26-carry day that produced 151 rushing yards and a touchdown against Michigan, Wisconsin football head coach Bret Bielema pointed out the finer points in the maturation of redshirt sophomore running back John Clay.“I really thought John Clay probably would be our premier back,” Bielema said. “I really like what he’s begun to do, preparation-wise. Everyone wants to pay attention to his statistics, (but) he had a couple really nice blitz pick-ups Saturday on some play-action passes.“Sunday … I went to my coaches about All-Big Ten nominees … you know, offensive player of the year — John Clay has just as good [of] a right to say that he has that as anybody.”Clay has 12 touchdowns on the season and 1,124 rushing yards. He’s averaging just over five yards per carry in a strong second-year campaign.Michigan looked vulnerable against the run Saturday, allowing two touchdowns on 229 net rushing yards.“At Wisconsin, we really believe we should be able to run the football,” Bielema said. “It’s one of the keys to our success.”Badgers Facing Former CoachSaturday marks the first time UW faces former Wisconsin defensive coordinator Mike Hankwitz. Hankwitz served on the Badger coaching staff during the 2006 and 2007 seasons before being let go. He signed with Northwestern in January 2008.“We knew this day was coming,” Bielema said. “It’s something I addressed to the players … it’s definitely something I know is being brought up down there and is up here as well.”Northwestern’s defense has improved since the addition of Hankwitz. They went from allowing 31 points per game in 2007 to just 20.15 last year, ranking fourth in the Big Ten and 27th in the nation.While at Wisconsin, Hankwitz led the Badgers in 2006 to remarkable numbers. Wisconsin ranked second in the nation in scoring defense, allowing just above 12 points a game, and fifth in total defensive yards, yielding 253.1.The following year, however, the Badgers saw marked increases in both numbers. Opponents scored 23.2 points and gained 356.6 yards per game.“Whenever you decide to make a change like that, it’s a very difficult situation,” Bielema said. “Business is business and personal is personal. I really felt at the time I needed to make a change … but I’m sure I’m not very popular in the Hankwitz household.”Bielema Praises Bscherer/Oglesby Will Need SurgeryRedshirt junior Jake Bscherer got the start against Michigan Saturday at right tackle, filling in for the still-ailing redshirt sophomore starter Josh Oglesby. Bscherer started the season at left guard but lost his spot when Big Ten play started. He returned to starting when Oglesby went down the week before at Indiana with a left knee injury.Bielema asserted that Bscherer was set to start Saturday because the team doctor advised against playing Oglesby.“If Josh looked really good, (we would have played him),” Bielema said. “But [Bscherer] did enough positive things in a tough match-up and, actually, did the week before when he was called into action. I wasn’t at that point ready to take [Bscherer] out of that role.”Bielema also said that Oglesby will need surgery following the season, on both the left knee he injured at Indiana, and the right that had been nagging him going into that game.“I give [Oglesby] credit,” Bielema said. “He’s a guy who’s going to need surgery at the end of the year … but he’s a guy who’s really sucked it up.”Bscherer and the rest of the offensive line held their own against Michigan, opening up the running game and keeping the opposing front to just two sacks.Chris Borland — Freshman of the Year?Bielema praised freshman starting linebacker Chris Borland for his play this year, naming him as his choice for Big Ten freshman of the year.“Chris Borland, if there is a freshman in the league that has had more of an effect on a team, I would be surprised,” Bielema said. “He’s been a defensive MVP of the league, special teams MVP of the league, he’s one of two or three players in the entire world of college football that has three forced fumbles and three fumble recoveries, in addition to a blocked punt and a kickoff return. Probably to seal the deal, I should probably let him kick a field goal.“If there’s a freshman in this league that has had more of an effect on a team that’s in the upper half of its division, then I’d be surprised.”Borland led the Badgers with 11 tackles Saturday, with seven solo tackles. He also had half a sack.last_img read more

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HALLOWEEN MADNESS AT LETTERKENNY SUPERPUB SISTER SARA’S

first_imgENTERTAINMENT: Management at Sister Sara’s is gearing for another weekend of Halloween madness with some sensational entertainment.A student themed night kicks off the festivities on Wednesday, then there’s the Karaoke favourite on a Friday night. On Saturday night – it’s Halloween with prizes for the best dressed on the night and some superb promotional offers available throughout.Then on Sunday it’s a jukebox special behind the bar.Make sure you drop into Letterkenny’s No.1 super-pub SISTER SARA’S this weekend.HALLOWEEN MADNESS AT LETTERKENNY SUPERPUB SISTER SARA’S was last modified: October 28th, 2015 by Mark ForkerShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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