Day: July 7, 2020

All Eyes on China’s Unstoppable Stocks After $460 Billion Rally

(Bloomberg) — China’s equity market is firmly in the spotlight after an almost unprecedented rally that helped lift global stocks to a one-month high.

The speed of the past week’s gains in China is in many ways unseen since the stock bubble that burst five years ago. Monday’s surge alone added more than $460 billion to Chinese stock values, behind just one day in July 2015 as the biggest increase in shareholder wealth since the global financial crisis.

The advance continued on Tuesday, though at a slower pace. The CSI 300 Index rose 0.6% at the close to extend its

Covid to push share of stressed debt to 18.2% from 11.6%: India Ratings

The agency expects the credit growth to fall 15% in FY21 as a result of tepid corporate capex, coupled with muted revenue.

The impact of Covid-19 and the associated policy response is likely to result in an additional Rs 1.67 lakh crore of debt from the top 500 debt-heavy private sector borrowers turning delinquent between FY21 and FY22, India Ratings and Research said in a report on Monday, adding that this could take the proportion of stressed debt to 18.21% of the outstanding quantum from 11.57% at present.

This estimated stress will be over and above the Rs 2.54 lakh

VC firm Sequoia looks to back world-beating startups in India, SEA; launches $1.35 billion mega fund

Sequoia has been investing across all stages of a startup cycle – seed, mid, and growth.

One of India’s most prolific venture capital fund Sequoia India has secured a commitment of $1.35 billion for two new India and Southeast Asia focused funds. The two funds — $525 million venture fund and $825 million growth fund will invest in startups across the region, Sequoia Capital’s managing director Shailendra J Singh announced in a LinkedIn post. “The combined GDP of India and SEA is expected to cross $14 trillion and the number of mobile internet users will likely cross 1.5 billion by