Singapore hedge fund Asia Genesis Asset Management is closing down its flagship macro fund after making "big mistakes" and suffering an "unprecedented drawdown" due to wrong-way bets on Chinese and Japanese stocks. According to a letter to fund investors, the firm is returning money to investors to avoid further losses. The fund saw an outflow of about 19% in the first few weeks of January. Chua Soon Hock, founder and chief investment officer of Asia Genesis, admitted to making big mistakes in the recent sharp moves of the Nikkei and Hang Seng indexes. He expressed astonishment at the pricing of Chinese and Japanese stocks at the same value as in 1991, despite current economic realities. The closure comes as China's stock market experiences a rout and Japanese stocks rally. Asia Genesis Macro Fund lost 18.8% in the first weeks of January due to losses on long Hong Kong and China equities positions and short Nikkei bets. The fund managed $330.2 million at the start of the year.

Dow Inc. (DOW) closed higher by 0.4% compared to the previous day, trailing behind the S&P 500's gain of 1.23%. The materials science company has seen a 4.31% loss over the past month, narrower than the Basic Materials sector's loss of 6.13%. Investors are eagerly awaiting Dow Inc.'s upcoming earnings disclosure on January 25, 2024, with estimates projecting a 10.87% decrease in EPS compared to the previous year. Recent revisions to analyst forecasts for Dow Inc. suggest a potential influence on the company's stock price performance. Investors can use the Zacks Rank system, which rates stocks from #1 (Strong Buy) to #5 (Strong Sell), to make informed decisions. Dow Inc. currently holds a Zacks Rank #4 (Sell) and is trading at a Forward P/E ratio of 15.92, in line with the industry average. It's worth noting that Dow Inc. has a PEG ratio of 3.18, indicating its valuation compared to its expected growth.

After two years of waiting, the S&P 500 has finally reached a new all-time high, indicating a shift from a bear to a bull market. The index confirmed its bull market status by closing at its intraday low on October 12, 2022. The S&P 500 gained 24% in 2023 and is already up 1.5% in January 2024. Last year, concerns were raised about the breadth of the rally, as it was mainly concentrated in the largest stocks, including Apple, Microsoft, Nvidia, and Meta. However, the recent record high has been fueled by chipmakers and other big tech stocks. The rally has also shown signs of broadening out, with the equal-weight index and small caps keeping pace or even slightly ahead of the S&P 500.

Investors will be closely watching a series of economic reports this week, including gross domestic product data and personal consumption expenditures prices. These reports will provide insight into how central bank policymakers view monetary policy moving forward. Additionally, investors are hoping for a series of benchmark interest rate cuts starting in March. However, the chance of a Fed rate cut in March has decreased to 47% from 81% a week earlier. The future of the bull market will likely depend on whether the U.S. central bank can achieve a soft landing for the economy without tipping it into a recession.

Home First Finance Company, an India-based housing finance company, announced its Q3 FY24 operational performance, which was in line with expectations. The company reported a net interest income of Rs 1.34 billion and an operating profit of Rs 1.09 billion. Its net profit for the quarter increased by 34.2% YoY to Rs 79 crore, driven by higher assignment income and lower credit cost. The company's assets under management (AUM) grew by 33.5% to Rs 9,014 crore, with housing loans contributing 86% of the total AUM. Disbursements in Q3 reached Rs 1,007 crore, crossing the Rs 1,000-crore mark for the first time.

As a result of the strong results, shares of Home First Finance jumped nearly 8% in early trade to a 52-week high of Rs 1,061. The stock's trading volume also increased significantly. The company aims to continue its growth trajectory by expanding its presence in emerging affordable housing markets. Its net interest income for the quarter grew by 20.1% to Rs 1,209.90 crore.

Morgan Stanley has an 'overweight' rating on Home First Finance, with a price target of Rs 1,250. The company's strong performance and growth potential have attracted investor interest, resulting in the surge in its share price.

Economists are growing more assured that the US economy will avoid a recession in the coming year, according to the latest survey by the National Association of Business Economics (NABE). The study found that 91% of economists polled assigned a 50% probability or less to the US entering a recession in the next 12 months, up from 79% in the previous survey conducted in October. This growing optimism is reflected in recent economic data, including a surge in consumer sentiment and a faster-than-expected decline in inflation. Additionally, economists expect corporate sales and profit margins to rise as supply chain issues and labor shortages ease. The survey also revealed improvements in input materials and labor shortages, with 63% of respondents reporting no shortages of input materials and just over half reporting no labor shortages. Overall, the survey indicates that economists are more optimistic about the US economy's prospects, raising hopes of continued growth in the year ahead.

Last June, the Trudeau government announced its plan to implement the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) in Canada. Now, Indigenous deal-makers Fred, Bernd Christmas, and Christian Sinclair are working together to raise a $1 billion infrastructure fund through their company, Longhouse. Their goal is to facilitate First Nations' participation in various sectors such as utilities, renewable power, critical minerals, transportation, and carbon capture projects.

Fred believes that partnering with First Nations can help overcome the regulatory and ideological barriers that often delay critical infrastructure projects. He sees the ratification of UNDRIP as a massive opportunity for both Indigenous people and corporations. By educating the corporate sector about the potential of working with Indigenous partners, Longhouse aims to create a win-win situation where infrastructure needs are met and Indigenous communities benefit from economic opportunities.

One specific project that highlights the potential of such partnerships is the Cedar LNG project in Kitimat. The project, a $3.2 billion electrified floating facility, is proposed for Haisla Nation land. Karen Ogen, CEO of the First Nations LNG Alliance, emphasizes the need to transition China away from coal and towards cleaner energy, such as liquefied natural gas (LNG). Shipping LNG to Asian markets from Haisla and the B.C. coast is seen as a shortcut compared to the current routes through the Gulf Coast and the Panama Canal. Cedar became the first Indigenous majority-owned facility to receive environmental approval and is now awaiting a final investment decision.

These developments raise questions about the potential for Indigenous-led infrastructure projects in Canada. Can the endorsement of UNDRIP create an Indigenous renaissance in various sectors? Will corporate Canada embrace the opportunities to partner with Indigenous communities? Only time will tell.

China Daily reports that China's top economic regulator, the National Development and Reform Commission (NDRC), announced that the country will implement several measures to foster a robust economic recovery throughout this year. These measures include the acceleration of the legislative process to enact a law on promoting the development of the private sector and revising the negative list for foreign investment access. The focus will be on addressing the challenges faced by private businesses, boosting business confidence, and ensuring equal treatment of private and State-owned enterprises. Additionally, the NDRC will introduce policies to promote high-standard opening-up and eliminate restrictions on foreign investment access in the manufacturing sector. The goal is to attract and utilize foreign capital and address the difficulties faced by foreign-funded enterprises. The NDRC has recently launched its seventh batch of major foreign investment projects, including fields like biomedicine, automobile manufacturing, new energy batteries, and the chemical industry. By implementing these measures, China aims to support economic growth and strengthen international economic cooperation.

Four years after the referendum that led to Brexit, the long-term consequences of shaping a country's future on nativist, populist anger are being revealed. The UK's departure from the European Union has not only slowed economic growth but also contributed to the increase in prices due to trade barriers with the EU, its biggest trading partner.

Boris Johnson, who rose to power on his long-time Euroskeptic stance, is one of the four prime ministers who have left 10 Downing Street amidst the chaos caused by Brexit. His tenure was marred by a series of ethics scandals that forced him out of office.

The damage caused by Brexit goes beyond the economic sphere. The rejection of membership in the EU's single market has hindered the performance of public utilities such as the NHS, education, the Post Office, and the water and sewage system. The UK is now facing the consequences of rolling back the frontiers of the state, with many public services failing to work properly.

Although the UK is not considered a failed state, it is undoubtedly ailing, with a significant portion of the population disillusioned by the state of affairs. Brexit was supposed to reverse the country's economic decline, but instead, it has exacerbated existing problems and created new challenges.

As the UK grapples with job losses, increased immigration, and a decline in financial services, the negative consequences of Brexit are becoming more evident. The country faces domestic challenges and global implications, struggling to establish trade agreements and address the ongoing cost of living crisis.

The future of the UK post-Brexit looks uncertain, as the nation tries to navigate a new reality shaped by its decision to leave the European Union.

When it comes to deciding the term of life insurance cover in retirement, it may not be necessary to opt for a longer tenure. Life insurance is primarily bought to cover the potential risk of financial loss caused to the family in the event of the death of the primary breadwinner. During the earning years, life insurance is most essential as there are financial dependents and liabilities. However, in retirement, individuals typically have fewer financial responsibilities and a well-settled retirement corpus. Even if someone continues to work beyond 60, it is often out of personal desire rather than financial compulsion. Therefore, it may not make financial sense to continue a life insurance cover beyond the regular working years.

Additionally, longer-term life insurance covers can be more expensive in retirement, as premiums still need to be paid. It is important to understand the true purpose of life insurance and not view it as a way to leave behind a legacy for children. Instead, the focus should be on ensuring financial security for dependents during the working years.

While life insurance is crucial, it is also important to consider other financial aspects such as investments in retirement. It is advisable to consult with a financial advisor to determine the appropriate balance between life insurance and investments based on individual circumstances and financial goals.

Despite promising signs of economic normalcy in the United States, the housing market is still struggling to regain its footing. While sectors such as consumer behavior, employment rates, and business activities are stabilizing, the real estate landscape continues to face persistent hurdles, hindering a full recovery. Bidding wars, rising prices, and a scarcity of available properties have become the new normal in the housing market. High demand and low supply have made home ownership an elusive dream for many Americans.

Affordability has also become a significant issue, with millions of households paying more than one-third of their income for housing. Renters earning under $30,000 are particularly burdened, with over 80% facing cost burdens. The crisis has disproportionately affected households of color, with over half of renter households headed by a Black, Hispanic, or multiracial person grappling with cost burdens.

Although there are some mixed signals from the housing market, with a decline in housing starts countered by a surge in building permits, rising mortgage rates and a scarcity of homes for sale continue to hinder home sales. The housing market's struggles have become a concern not only for potential homebuyers but also for policymakers and economists.

Efforts are underway to address the underlying issues, but it is clear that the road to recovery for the housing market is still filled with challenges.