Financial sector veteran, KT Capital Group

Fern Wang

Financial sector veteran

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

<ul>
<li>The U.S. Big 3 banks delivered strong 3Q23 earnings on the back of record net interest income, despite a lower balance in commercial loans and residential mortgages.</li>
<li>Credit quality is mostly steady, with credit card charge-offs normalized. The main pain point is in CRE, especially for WFC. </li>
<li>The proposed Basel III end game, if materialized, could have a huge impact on JPM and Citigroup in particular.</li>
</ul>


The U.S. Big 3 banks delivered strong 3Q23 earnings on the back of record net interest income, despite a lower balance in commercial loans and residential mortgages.
Credit quality is mostly steady, with credit card charge-offs normalized. The main pain point is in CRE, especially for WFC. 
The proposed Basel III end game, if materialized, could have a huge impact on JPM and Citigroup in particular.


The Big 3 U.S. Banks Delivered Solid Earnings on NII, Benign Credit Quality

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

JPMorgan Chase & Co / Forensic Accounting

<ul>
<li>India's inclusion in global bond indexes by JP Morgan is significant, but the expected foreign inflow is relatively small, not likely to impact exchange rates or interest rates significantly.</li>
<li>The bond inclusion won't strengthen the Rupee against the Dollar due to limited foreign inflows. A slight reduction in interest rates is expected with JP Morgan's inclusion.</li>
<li>Indian bonds offer attractive yields, but rising US bond yields and rupee depreciation could affect foreign investor interest. This development could lead to improved fiscal policies and Indian bond markets.</li>
</ul>


India's inclusion in global bond indexes by JP Morgan is significant, but the expected foreign inflow is relatively small, not likely to impact exchange rates or interest rates significantly.
The bond inclusion won't strengthen the Rupee against the Dollar due to limited foreign inflows. A slight reduction in interest rates is expected with JP Morgan's inclusion.
Indian bonds offer attractive yields, but rising US bond yields and rupee depreciation could affect foreign investor interest. This development could lead to improved fiscal policies and Indian bond markets.


Make in India Bonds into the Global Bond Index: An Examination of Effects and Significances

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

<ul><li>UI Boustead REIT's IPO portfolio includes 23 properties valued at S$1.9 billion, with a net lettable area of 5.3 million square feet.</li><li>The REIT's forecast distribution yield is 7.4% for 2026 and 7.8% for 2027, with a leverage ratio of 37.9%.</li><li>Cornerstone investors, including JPMorgan and Amundi, committed to 31.4% of IPO units, raising approximately S$1 billion.</li></ul>

UI Boustead REIT's IPO portfolio includes 23 properties valued at S$1.9 billion, with a net lettable area of 5.3 million square feet.The REIT's forecast distribution yield is 7.4% for 2026 and 7.8% for 2027, with a leverage ratio of 37.9%.Cornerstone investors, including JPMorgan and Amundi, committed to 31.4% of IPO units, raising approximately S$1 billion.

REIT Watch - UI Boustead REIT: A New Entrant in Singapore’s Industrial REIT Space

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Cross Asset Strategy

<ul><li>Major US banks reported stronger-than-expected 2Q26 earnings, with Goldman Sachs posting 92% YoY growth and JPMorgan Chase 47% YoY.</li><li>China's imports surged 36% YoY in June, which is expected to support Thailand's electronics exports.</li><li>The government continues to roll out economic stimulus measures, including a Bt220bn large-scale infrastructure investment plan for 2027 (STECON, CK) and a domestic tourism co-payment scheme (CENTEL).</li></ul>

Major US banks reported stronger-than-expected 2Q26 earnings, with Goldman Sachs posting 92% YoY growth and JPMorgan Chase 47% YoY.China's imports surged 36% YoY in June, which is expected to support Thailand's electronics exports.The government continues to roll out economic stimulus measures, including a Bt220bn large-scale infrastructure investment plan for 2027 (STECON, CK) and a domestic tourism co-payment scheme (CENTEL).

Krungthai XSpring Zoom Eng. July 15, 2026

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>Japan is pushing the GPIF to invest $1.8 trillion in domestic projects amid real estate shifts.</li><li>JP Morgan highlights Malaysia's leadership in Southeast Asia's data center growth and expansion.</li><li>GIC has appointed new Deputy Group Chief Investment Officers, reflecting changes in investment leadership.</li></ul>

Japan is pushing the GPIF to invest $1.8 trillion in domestic projects amid real estate shifts.JP Morgan highlights Malaysia's leadership in Southeast Asia's data center growth and expansion.GIC has appointed new Deputy Group Chief Investment Officers, reflecting changes in investment leadership.

Asia Real Estate Tracker (13-Jul-2026): Japan urges $1.8T fund to boost local investments.

United States

JPMorgan Chase & Co. provides global financial services and retail banking. The Company provides services such as investment banking, treasury and securities services, asset management, private banking, card member services, commercial banking, and home finance. JP Morgan Chase serves business enterprises, institutions, and individuals.

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JPMorgan Chase & Co (JPM US)

The Big 3 U.S. Banks Delivered Solid Earnings on NII, Benign Credit Quality

The Big 3 U.S. Banks JPM, Citigroup and WFC delivered strong earnings on the back of higher interest rates and benign credit quality. Proposed...

Fern Wang

Make in India Bonds into the Global Bond Index: An Examination of Effects and Significances

India's inclusion in global bond indexes by JP Morgan has a limited impact on interest rates and rupees. Bond inclusion won't strengthen the Rupee...

Nimish Maheshwari

REIT Watch - UI Boustead REIT: A New Entrant in Singapore’s Industrial REIT Space

UI Boustead REIT's IPO portfolio includes 23 properties valued at S$1.9 billion, with a net lettable area of 5.3 million square feet. The REIT's...

Singapore Exchange Ltd (SGX)

Krungthai XSpring Zoom Eng. July 15, 2026

Major US banks reported stronger-than-expected 2Q26 earnings, with Goldman Sachs posting 92% YoY growth and JPMorgan Chase 47% YoY. China's...

Krungthai XSpring

Asia Real Estate Tracker (13-Jul-2026): Japan urges $1.8T fund to boost local investments.

Japan is pushing GPIF to invest $1.8 trillion domestically, while Malaysia leads in data center growth, Singapore tightens regulations, and M&G...

Asia Real Estate Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Big 3 U.S. Banks Delivered Solid Earnings on NII, Benign Credit Quality

The Big 3 U.S. Banks JPM, Citigroup and WFC delivered strong earnings on the back of higher interest rates and benign credit quality. Proposed...

Fern Wang

Make in India Bonds into the Global Bond Index: An Examination of Effects and Significances

​India's inclusion in global bond indexes by JP Morgan has a limited impact on interest rates and rupees. Bond inclusion won't strengthen the Rupee...

Nimish Maheshwari

REIT Watch - UI Boustead REIT: A New Entrant in Singapore’s Industrial REIT Space

UI Boustead REIT's IPO portfolio includes 23 properties valued at S$1.9 billion, with a net lettable area of 5.3 million square feet. The REIT's...

Singapore Exchange Ltd (SGX)

Krungthai XSpring Zoom Eng. July 15, 2026

Major US banks reported stronger-than-expected 2Q26 earnings, with Goldman Sachs posting 92% YoY growth and JPMorgan Chase 47% YoY. China's...

Krungthai XSpring

Asia Real Estate Tracker (13-Jul-2026): Japan urges $1.8T fund to boost local investments.

Japan is pushing GPIF to invest $1.8 trillion domestically, while Malaysia leads in data center growth, Singapore tightens regulations, and M&G...

Asia Real Estate Tracker

India's inclusion in global bond indexes by JP Morgan has a limited impact on interest rates and rupees. Bond inclusion won't strengthen the Rupee...