Equities were broadly lower across the past week with the SPX initially dipping lower to the 4130 levels before finishing the week strong, owing to strong corporate earnings.Biden's proposed capital gains tax increase is likely to find its way to Congress this week and we could have a repricing lower if it becomes likely to pass. Some argue that the measures would incentivize big institutional investors to reduce their securities' holding period, in order to minimize their tax bill. The tax increase is only expected to affect the highest bracket with those earning more than USD 1 Million a year. The carried interest provision that has historically benefitted PE firms and Hedge Funds could be scrapped too.
Europe and South Asian equities were in the red this week as well with North Asia in the green led by China. Investor flows have picked up here after the Alibaba antitrust investigation was closed and the state regulator appeared supportive of Huarong last week. Huarong's earnings will likely face another delay though and will not be out by 30 April. The stock has been suspended from trading in HK after results were postponed on 30 March and speculation of a potential restructuring are still making the rounds with the extent of the write-down still unknown. The management and the regulator are sticking with their assertion of ample liquidity for now.The world's fastest GDP growth in 2021 was supposed to come from India, with recent IMF estimates above 12% and the RBI estimating upwards of 10%. Things seemed to be turning a corner in Q1 but the explosion in cases over the last month and the existence of a new variant have significantly hurt expectations. Medical supply shortages abound in major cities with access to oxygen and respiratory medication severely hampered.On the bright side, the vaccine drive is still on track and will be opened up for everyone aged 18 and above from next week. Authorities have also stopped short of calling for a full lockdown and hope a combination of vaccination and common sense will help bend the curve this time around.Ahead this week, we have rate decisions from Japan and the US with Q1 GDP growth from the US and Germany as well. The strength of the US labor market will likely be affirmed alongside strong Q1 corporate earnings with the near-term risk to sentiment coming from proposed tax reform.
This website/application including the ‘KristalFlex’ platform is owned, operated and maintained by Globalise Inc., a company incorporated in United States of America (the “Company”). The information placed on the platform is for informational purposes only and does not constitute as an offer to sell or buy a security. The Company reserves the right to make modifications and alterations to the content available on the platform. The Company is neither registered as an investment advisor nor as a broker dealer. The KristalFlex platform offers users access to investments in global securities through multiple stock exchanges and such other services as may be provided either directly or through its affiliates and partners. Price and availability of products and services offered on the platform are subject to change without prior notice. The Company will not be liable for any lack of availability of products and services you may order through the platform.
Do note that investment in securities market are subject to market risks. The valuation of securities may increase or decrease depending on various factors affecting the securities market. The services being provided by through the KristalFlex platform is not professional investment advice. All the recommended list of offshore funds, portfolios etc. being provided through the platform shall be/are in the form of generic research reports on offshore securities and shall be accessible by all authorised / subscribed users of these services at the same time.
The platform and the services thereunder are provided on an “as is” basis. The Company makes no warranties or representations, express or implied, on products offered through the platform. It accepts no liability for any damages or losses, however caused, in connection with the use of, or on the reliance of its product or related services. The Company is not responsible for any technical failure or malfunctioning of the software or delays of any kind and is also not responsible for non-receipt of any e-mails. You shall bear all responsibility of keeping the password secure and shall be solely responsible for the loss or misuse of the password.
Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with the Company or its affiliates unless expressly stated otherwise. Any such information and/or products have not necessarily been reviewed by the Company and are provided or maintained by third parties over whom the Company exercises no control. Certain hyperlinks or referenced websites on the platform, if any, are for your convenience and forwards you to third parties’ websites. The Company will, under no circumstance, be responsible for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party websites. The Company does not endorse in anyway any advertisers/ contents of advertisers on its webpages or the KristalFlex platform.
We are licensed in Singapore, Hong Kong and India. Kristal Advisors (SG) Pte. Ltd. presently operates under the CMS license by the Monetary Authority of Singapore (MAS). Kristal Advisors (HK) Ltd is licensed and regulated by the Securities and Futures Commission (SFC) to carry out Type 4 and Type 9 regulated activities and is not involved in the discretionary management of any collective investment scheme. Kristal Advisors Private Ltd. presently operates as a Registered Investment Advisor under the jurisdiction of the Securities and Exchange Board of India (SEBI).
This is offered only to Accredited and Institutional Investors as defined under the Securities and Futures Act, Chapter 289 of Singapore (“Act”), which broadly comprises of regulated financial Institutions, large corporates, high net worth individuals and sophisticated investors.
An Accredited Investor is an individual
Whose net personal assets exceed in value SGD 2 million (or it’s equivalent in a foreign currency) with value of his/her primary residence capped at SGD 1 million, or
Whose financial assets (net of any related liabilities) exceed in value SGD 1 million (or it’s equivalent in a foreign currency), or
Whose income in the preceding 12 months is not less than SGD 300,000 (or it’s equivalent in a foreign currency)
I agree to opt-in as Accredited Investor and will submit required documentation to confirm the same.