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Budget 2024 Comments By Tan Sri Abdul Wahid Omar Chairman Of Bursa Malaysia, WWF Malaysia And MySDG Foundation

Date 13/10/2023

We are glad the Prime Minister (PM) cum Minister of Finance remains committed to an expansionary budget (with a record RM393.8 billion) but with fiscal responsibility by reducing fiscal deficit from 5.0% of GDP in 2023 to 4.3% in 2024 and further to 3.0% in the medium term in line with the Fiscal Responsibility Act (FRA). This will be achieved, among others, by enhancing tax collection effectiveness, gradual subsidy rationalisation and plugging leakages as well as broadening the revenue base with increase in SST to 8%, reintroduction of tax on luxury goods of 5%-10% and imposition of 10% capital gains tax (CGT) on shares in unlisted companies. The CGT will be effective 1 March 2024 with certain exemption for share disposals related to IPO activities, internal restructuring and venture capital companies. This will encourage more unlisted companies to list their shares on Bursa Malaysia thus spurring further growth in the capital market.
Tokyo Stock Exchange: Opening Of The Carbon Credit Market And Start Of Trading Today

Date 13/10/2023

We are pleased to announce the opening of the carbon credit market and the start of trading on Tokyo Stock Exchange today, October 11.
To commemorate the opening of the market, a ceremony was held on the same day, which was attended by Mr. Nishimura Yasutoshi, Minister of Economy, Trade, and Industry, as well as other members of ministries and organizations involved in carbon credits. We received the following comments from Mr. Nishimura.
Hong Kong Securities And Futures Commission Welcomes Re-Appointment Of Non-Executive Directors

Date 13/10/2023

The Securities and Futures Commission (SFC) welcomes the re-appointment by the Financial Secretary of Mr Johnson Kong and Mr Dieter Yih as Non-Executive Directors for a term of two years, effective from 15 November 2023.
Shenzhen Stock Exchange Market Bulletin, October 13, 2023, Issue 34

Date 13/10/2023

Click here to download Shenzhen Stock Exchange's market bulletin, issue 34.
CFFEX: Notice On Issues Related To The Delivery Of Equity Index Futures And Options Contracts

Date 13/10/2023

Pursuant to the Trading Rules of China Financial Futures Exchange and relevant detailed implementation rules, the last trading day of a CSI 300 Index futures, SSE 50 Index futures, CSI 500 Index futures, CSI 300 Index options, CSI 1000 Index futures, CSI 1000 Index options, and SSE 50 Index options contract is the third Friday of the expiry month. Where the last trading day is a public holiday or trading of that contract is suspended on that day for extraordinary situations or other reasons, the last trading day shall be postponed to the following trading day. Accordingly, the last trading day of IF2310, IH2310, IC2310, IO2310(CSI 300 Index options contracts expiring in October 2023), IM2310,MO2310(CSI 1000 Index options contracts expiring in October 2023),and HO2310(SSE 50 Index options contracts expiring in October 2023) is October 20, 2023.

Shanghai Stock Exchange Agrees To Allow Five Insurance Asset Management Companies To Conduct ABS And REITs Businesses On Trial Basis

Date 13/10/2023

Recently, under the coordinated guidance of the China Securities Regulatory Commission and the National Financial Regulatory Administration, the Shanghai Stock Exchange (SSE) issued a letter of no objection to the first batch of five insurance asset management companies, namely China Life Asset Management Company Limited, Taikang Asset Management Co., Ltd., CPIC Asset Management Co., Ltd, PICC Asset Management Company Limited, and Ping An Asset Management Co., Ltd, allowing them to conduct Asset-Backed Securities (ABS) and Real Estate Investment Trusts (REITs) businesses on a trial basis.
ASIC Wins Landmark Continuous Disclosure Case Against ANZ

Date 13/10/2023

The Federal Court today found Australia and New Zealand Banking Group Limited (ANZ) breached continuous disclosure laws when undertaking a $2.5 billion institutional share placement in 2015 by failing to disclose material placement subscriptions allocated to underwriters.
Japan Financial Services Agency: “Addressing The Challenges Of Financed Emissions” Announced

Date 13/10/2023

In October 2023, the Japan Public and Private Working Group on Financed Emissions to Promote Transition Finance compiled a paper titled “Addressing the Challenges of Financed Emissions,” and Financial Services Agency (FSA) hereby releases the paper.
ASIC Improves Outcomes For Australians In 2022–23

Date 13/10/2023

ASIC continued its strong focus on enforcement action in the last financial year, driving positive outcomes for consumers and small businesses, and maintaining trust and integrity in Australia’s financial system.
Japan Financial Services Agency - Stewardship Code : 329 Institutional Investors Have Signed Up To The Principles For Responsible Institutional Investors As Of September 30, 2023

Date 13/10/2023

The Council of Experts Concerning the Japanese Version of the Stewardship Code (Chairman: Professor Hiroyuki Kansaku, University of Tokyo Graduate Schools for Law and Politics) published the Principles for Institutional Investors (Japan’s Stewardship Code, hereinafter referred to as "the Code") on February 26, 2014.