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SocGen is selling its Asian private banking business in Singapore and Hong Kong, as well as selected parts of its trust business, to DBS for S$279 ($220m). -
China’s onshore equity market will grow to $10tr by 2020 – and will be included in global indices by 2015 – prospects which make the asset class too important to ignore, according to HSBC.
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China's decision to double the trading band for the renminbi against the US dollar, which was announced at the weekend and took effect on Monday, is a further step towards the full liberalisation of the currency, say analysts and traders.
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China’s onshore equity market will grow to $10tr by 2020 – and will be included in global indices by 2015 – prospects which make the asset class too important to ignore, according to HSBC.
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Société Générale is selling its Asian private banking business in Singapore and Hong Kong, as well as selected parts of its trust business, to DBS for S$279 ($220m) as the Singaporean banks pursues its goal of becoming a leading wealth manager in Asia.
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The European Commission continues to delay its decision on money market fund (MMF) regulation, adding to an already tough environment for the funds.
