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Real-time News
On August 28th, Citigroup published a research report stating that the decline in China Resources Vanguard Life (01209.HK)s share price reflects investor concerns about the companys revenue and operating cash flow. The bank noted that the companys revenue was impacted by property management reforms, while commercial growth remained stable. Furthermore, cash flow was dragged down by lower recoveries of overdue accounts receivable, but the recovery rate remained good, and the company remained confident that full-year cash flow would more than double its profit. The bank maintained its forecast for 15% profit growth for China Resources Vanguard Life this year and expects approximately 10% growth in each of 2026 and 2027. Considering the 5% dividend yield, the bank maintained its Buy rating and raised its target price from HK$40 to HK$48.5.According to Nikkei: Japans Ministry of Finance is seeking opinions from traders on reducing the issuance of ultra-long-term Japanese government bonds.On August 28, INGs interest rate strategists wrote in a report that while improved fiscal prospects for Italy and Spain have led to a significant narrowing of the yield spread between their government bonds and German bunds, the situation in France is different. "For France, we find it difficult to see a clear path forward for fiscal reform at this time. However, the European Central Bank has significant firepower to limit excessive yield spreads on eurozone government bonds, and the market is well aware of this."On August 28, INGs interest rate strategists said in a report that the French-German government bond yield spread is likely to remain elevated, if not widen further. The 10-year French-German government bond yield spread rose to 82 basis points on Wednesday, its highest level since January. The prospect of a confidence vote has led to a significant widening of the yield gap between French and German government bonds, with the balance of risks tilted towards a further widening. While the increase is relatively manageable, it highlights the increased upside risk to French government bonds if political tensions escalate.Mitsui & Co. said Berkshire Hathaway (BRK.AN, BRK.BN) has increased its stake in the company, but declined to disclose the specific stake.
