During Monday’s current trade, Manulife Financial Corporation (USA) (NYSE:MFC)’s shares decline -0.68% to $19.05.
Manulife Financial Corporation (USA) (MFC) Capital markets in emerging economies have remained significantly underdeveloped relative to their powerhouse underlying economies, but will likely experience profound shifts over the next 15 years, with implications for debt and equity investors, according to a new report from Manulife Asset Administration.
The balance of global economic power, the authors note, has shifted toward emerging economies, with these nations combined now accounting for 51 percent of global output on a purchasing power parity basis. However, emerging markets account for only 22 percent of total global equity market capitalization and just 14 percent of both corporate and sovereign bond market value, respectively. This relatively stunted capital market growth is evolving fast, and the new Manulife Asset Administration report looks at ways investors may take advantage of the secular trends likely to dominate emerging market investing in the years ahead.
China is a case in point in the report. Within emerging market economies, household and institutional equity ownership is structurally low. For example, while more than 50 percent household wealth in the U.S. is held in the stock market, China, with a savings rate of 47 percent has a stock market participation level of only 6.5 percent. But markets there are liberalizing, with the launch of the Shanghai-Hong Kong Stock Connect program at the end of 2014 a landmark event in the path towards the global integration of China’s capital markets, by right away enabling direct foreign access to its domestic equity market. Further steps comprise the phased inclusion of China’s domestic A-shares in MSCI global benchmarks over the next year or so and the inclusion this year of US-listed Chinese ADRs in the China country and emerging markets global index.
Changes to the Chinese stock market index are also likely to have an impact. For example, the weighting of so-called ‘New China’ – the new service sector economy in China – is predictable to double to become nearly a third of the index. Taken together, changes should result in an index that is more representative of the country’s economic changes from the end of 2014. It is likely that this will have an immediate impact in terms of investment flows – as the changes in index composition are likely to make the market more attractive to foreign investors – with potential implications for the size of China in the overall index.
Manulife Financial Corporation, together with its auxiliaries, provides financial protection and wealth administration products and services to individual, corporate, and business customers primarily in Asia, Canada, and the United States. It offers various individual life and health insurance, and individual and group long-term care insurance products through insurance agents, brokers, banks, financial planners, and direct marketing. The company also provides annuities, pension contracts, and mutual fund products and services; various retirement products to group benefit plans; deposit and credit products to Canadian customers; and non-guaranteed, partially guaranteed, and fully guaranteed investment options through general and separate account products.
E-House (China) Holdings Limited (ADR) (NYSE:EJ)‘s shares drop -1.27% to $7.01, during the current trading session Monday’s, hitting its highest level.
E-House (China) Holdings Limited (ADR) (EJ) is a real estate services company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on EJ’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that E-House (China) Holdings could be a solid choice for investors.
E-House (China) Holdings Limited, through its auxiliaries, operates as a real estate services company in the People’s Republic of China. It operates through Real Estate Online Services; Real Estate Brokerage Services; Real Estate Information and Consulting Services; Community Value-Added Services; and Other Services segments. The company offers real estate e-commerce services, online property listing services and free services, and listing services; and advertising primarily on the SINA and Baidu new residential properties and home furnishing Websites.
In a afternoon trade, International Paper Co (NYSE:IP)‘s shares plunge -0.92% to $50.69.
International Paper Co (IP) declared the expiration and final results as of 11:59 p.m. on June 11, 2015 (the “Expiration Time”) for its formerly declared cash tender offer (the “Tender Offer”) for up to $1.0 billion combined aggregate principal amount (the “Tender Cap”) of its outstanding 7.500% Notes due 2021 (the “7.500% Notes”), 7.950% Notes due 2018 (the “7.950% Notes”), 9.375% Notes due 2019 (the “9.375% Notes”) and 4.750% Notes due 2022 (the “4.750% Notes”) and the outstanding 6.625% Notes due 2018 of Temple-Inland, Inc., a wholly-owned partner of the company, which notes are guaranteed by the company (the “6.625% Notes” and, together with the 7.500% Notes, the 7.950% Notes, the 9.375% Notes and the 4.750% Notes, the “Notes”).
Notes that have been validly tendered at or before the Expiration Time and are accepted in the Tender Offer will be purchased, stepped down and cancelled on the settlement date, which is predictable to occur on June 12, 2015 (the “Settlement Date”). The amounts of each series of Notes that are purchased on the Settlement Date will be determined in accordance with the acceptance priority levels and the proration procedures described in the Offer to Purchase, dated May 14, 2015 (as amended, the “Offer to Purchase”). In accordance with the terms of the Tender Offer, (1) all of the 7.500% Notes validly tendered and not validly withdrawn; (2) all of the 7.950% Notes validly tendered and not validly withdrawn; (3) all of the 6.625% Notes validly tendered and not validly withdrawn; and (4) all of the 9.375% Notes validly tendered and not validly withdrawn, will be accepted for purchase and settled on the Settlement Date. As the aggregate principal amount of Notes validly tendered and not validly withdrawn exceeded the Tender Cap, using a proration factor of about 17.58%, $78,366,000 aggregate principal amount of the 4.750% Notes validly tendered and not validly withdrawn will be accepted for purchase and settled on the Settlement Date.
International Paper Company operates as a paper and packaging company in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company operates through three segments: Industrial Packaging, Printing Papers, and Consumer Packaging.
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