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Nomura Holdings CEO apologizes for bond manipulation scandal.
The CEO of Japan's largest brokerage Nomura Holdings, Kentaro Okuda, publicly apologized on Wednesday after one of the company's employees was accused of manipulating the bond futures market. Kentaro Okuda said at a financial forum in Tokyo, "I would like to apologize for the trouble caused by the recent advice received by Nomura Securities from the Securities and Exchange Surveillance Commission." The investigation department of the Securities and Exchange Surveillance Commission in Japan requested last week to fine Nomura's domestic securities department, on the grounds that the department is suspected of manipulating the prices of Japanese government bond futures in 2021. Subsequently, Toyota Financial Corporation and several other companies excluded this largest brokerage in Japan from underwriting their debt.
Express News | Citigroup : KBW Raises Target Price to $70 From $67
Citigroup expects the European Central Bank to cut interest rates by 25 basis points this month.
Citigroup said on Tuesday that the European Central Bank is expected to cut interest rates by 25 basis points at the meeting on October 17. Citigroup stated that this forecast is because ECB President Lagarde expressed confidence in the Council's timely return to the inflation target at the European Parliament hearing, and the Council will take this into account at the next policy meeting this month. Citigroup further predicts that the ECB's subsequent rate cuts in December and early 2025 will bring the policy rate down to 1.5% before September 2025.
Citigroup: Maintains a "buy" rating on WH Group, with the target price raised to 7.1 Hong Kong dollars.
Citigroup released a research report stating that the target price of WH Group (00288) has been raised from 6.7 Hong Kong dollars to 7.1 Hong Kong dollars, reflecting a revaluation in the A-share market, maintaining a "buy" rating. The new target price is mainly based on the higher PE ratio of the company's mainland business at 14 times this year, while the PE ratio for its overseas business remains at 10 times this year. The bank noted that the target PE ratio for WH Group's mainland business is discounted by 30% for its A-share dining stocks, mainly due to the risk in its upstream fresh pork business.
Citigroup Options Spot-On: On October 1st, 59,513 Contracts Were Traded, With 2.15 Million Open Interest
Federal Reserve Ends 2013 Enforcement Action on Citibank, Banamex USA