Investors once again stormed into stocks last week with inflows in the last three months soaring to a record $255 billion, BofA's weekly flow data showed on Friday, prompting investors to warn about a looming correction.
By Reuters Staff
3 Min Read
BEIJING (Reuters) - China’s recent antitrust measures are not aimed at its private sector and do not seek to hinder the development of such firms, a senior banking and insurance regulator said on Friday, as the country looks to expand scrutiny of the fintech space.
FILE PHOTO: Surveillance cameras are seen outside the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China December 13, 2018. REUTERS/Stringer
Beijing has signalled that it wants to strengthen its oversight, particularly of technology firms looking to expand into the financial space, a reversal of its once laissez-faire approach.
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SINGAPORE, Jan 21 (Reuters) - Private exchange iSTOX, backed by Singapore Exchange and other investors, said on Thursday it is raising $50 million in its first major funding round, led by two Japanese state-backed firms.
The financing will enable iSTOX to expand in Asia and offer a range of investment products, Oi Yee Choo, chief commercial officer of the Singapore-based regulated trading platform told Reuters in an interview.
Choo, formerly the Singapore investment banking chief of UBS till late 2019, said iSTOX expects more than 20 listings on its platform this year from the current six.
Japan Investment Corporation’s venture capital arm and Development Bank of Japan agreed to come in as new investors, while existing backers such as Tokai Tokyo Financial Holdings and Singapore Exchange also joined the Series A funding, iSTOX said.
World stock markets racked up record highs on Thursday and the dollar slipped as investors bet major stimulus from new U.S. President Joe Biden and unswerving global central bank support would cushion the coronavirus' damage and bolster growth.