Latest news with #Chang
Yahoo
3 hours ago
- Sport
- Yahoo
Vancouver Rise FC hands AFC Toronto second straight NSL loss
BURNABY — Samantha Chang's two first-half goals was all Vancouver Rise FC needed in defeating AFC Toronto 2-1 on Thursday in Northern Super League action. Chang scored in the 19th and 35th minutes to tie the game, then put Vancouver (5-5-3) ahead in the contest. Kaylee Hunter opened the scoring, putting Toronto (8-5-1) on the board just nine minutes into the game. Toronto, which sits atop the NSL standings, has now lost two in a row on the heels of a five-game winning streak. Vancouver, meanwhile, has won two straight having entered Thursday's match coming off a 6-0 win over Halifax last Saturday. Vancouver next hosts Ottawa Rapid FC on Aug. 2, while Toronto next visits Calgary Wild FC on Aug. 2. This report by The Canadian Press was first published July 24, 2025. The Canadian Press
Winnipeg Free Press
3 hours ago
- Sport
- Winnipeg Free Press
Vancouver Rise FC hands AFC Toronto second straight NSL loss
BURNABY – Samantha Chang's two first-half goals was all Vancouver Rise FC needed in defeating AFC Toronto 2-1 on Thursday in Northern Super League action. Chang scored in the 19th and 35th minutes to tie the game, then put Vancouver (5-5-3) ahead in the contest. Kaylee Hunter opened the scoring, putting Toronto (8-5-1) on the board just nine minutes into the game. Toronto, which sits atop the NSL standings, has now lost two in a row on the heels of a five-game winning streak. Vancouver, meanwhile, has won two straight having entered Thursday's match coming off a 6-0 win over Halifax last Saturday. Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. Vancouver next hosts Ottawa Rapid FC on Aug. 2, while Toronto next visits Calgary on Aug. 2. This report by The Canadian Press was first published July 24, 2025.
The Star
a day ago
- Business
- The Star
Fund giants put faith in ‘Trump put' to keep stock rally rolling
WASHINGTON: A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. Firms such as Invesco Ltd, Fidelity International Ltd and JPMorgan Asset Management are reinforcing bullish bets across technology shares from the United States to Asia as well as on emerging-market assets. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink. That's helping justify risk exposure at a time when valuations are stretched and macro headwinds persist. In a market that rewards conviction and punishes caution, sitting out is starting to look like the riskiest position of all. 'People have really bought into this belief that there is a Trump put, that if markets correct or if US interest rates go up, Trump will back off as he did in April: that trade is on,' said Chang Hwan Sung, a multi-asset portfolio manager in Invesco's investment solutions team in Hong Kong. 'As we navigate through this uncertainty, we are very likely to become more pro-risk.' This shared conviction isn't just a general sense of optimism; it's a calculated bet that the inherent volatility of a second Trump term will ultimately yield to economic pragmatism. For these global fund managers, that translates directly into a still-resilient outlook for international trade and supply chains, powering everything from Indonesian local-currency bonds and South Korean chipmakers to US growth stocks. Invesco has boosted its US equity allocation ahead of second-quarter corporate earnings, which it anticipates will provide further support for stocks, Chang said. And while the asset manager is 'overweight' on US stocks, it sees even better prospects elsewhere. 'From what I see happening across the globe, we are very likely to be a bit more tilted towards non-US markets such as Europe and emerging markets,' Chang said. Invesco sees medium-term opportunities in South Korea due to optimism over the government's corporate-governance reforms. The nation's benchmark Kospi index has already gained more than 30% this year, making it one of the world's best-performing major equity gauges. Invesco is also adding to holdings of local currency emerging-market bonds in its cross-asset portfolios as it sees these deriving the most gain from expected US interest rate cuts, Chang said. 'For fixed income, we like high yielders like Indonesia and other high interest-rate countries because they will probably benefit the most,' he said. Fidelity favours shares in Taiwan due to the island's high concentration of technology firms, while it likes South Korean stocks for their inexpensive valuations. 'Taiwan is probably one of the best value ways to play the technology cycle upswing, and we see a good case for being overweight,' said Ian Samson, a multi-asset fund manager at the money manager in Singapore. 'If you look at graphics processing unit (GPU) exports from Taiwan, they're just off the charts; it's incredible,' he said, referring to GPU, a type of chip used to process digital images. Fidelity isn't universally positive on risk assets. The firm's cross-asset portfolios are turning bearish on investment-grade and high-yield US corporate bonds due to their low differential to Treasury yields and are buying gold as a hedge, Samson said. JPMorgan Asset says medium US tech stocks still have room to gain due to the market's optimism over artificial intelligence (AI). The tailwinds of AI demand will offer further support for mid-cap tech stocks in the United States, said Kerry Craig, an investment strategist at the company in Melbourne. 'That adoption of AI across the broader US and global economy still has room to run,' he said. Fidelity, Invesco and JPMorgan Asset aren't alone in recommending 'overweight' holdings of US equities. Goldman Sachs Group Inc this month increased its target for the S&P 500 Index, while HSBC Holdings Plc has recommended higher US stock allocations in its multi-asset portfolios. 'We are really leaning back into US equities,' said Max Kettner, multi-asset strategist at HSBC in London. Corporate profit reports will provide a catalyst for US stocks, given low expectations, he said. 'People are probably overestimating the negative impact of tariffs on margins and earnings, and they're underestimating the positive tailwind from the weaker dollar,' Kettner said. — Bloomberg
Business Recorder
2 days ago
- Politics
- Business Recorder
‘Punjab to review PFC Award after new LG Act's implementation'
LAHORE: Punjab Finance Minister Mian Mujtaba Shujaur Rehman on Tuesday said that a new Local Government Act is being introduced, and once implemented, the Provincial Finance Commission (PFC) Award will be reviewed. While responding to Amjad Ali Javed in Punjab Assembly Mujtaba Shuja-ur-Rehman said that PML-N has always stood in favour of Local Government rights. Earlier, Amjad Ali Javed complained that his committee cannot even pay electricity bills. Criticizing the corrupt state of banks, he said employees are not receiving their salaries. He questioned the Finance Minister, asking how much longer it will take to receive the Provincial Finance Commission Award (PFC) Award after eight years of waiting. 'Can the Finance Minister provide a clear timeframe?' he asked. PML (N) MPA Ahmed Ahsan Iqbal while speaking on the floor of the House said that Secretary of Local Government is saying that the current situation id extremely dire. Hr also said that the Local Government has no funds left. He emphasized that the responsibilities assigned by the federation to the provinces should similarly be delegated by the provinces to municipal committees, but institutions are not receiving their due rights. He raised the question of which establishment is obstructing the implementation of third-tier governance. The session started 1 hour 46 minutes late under the chair of the Acting Speaker Malik Malik Zaheer Iqbal Channar. During a session of the Punjab Assembly, government member Mumtaz Ali Chang delivered a fiery speech, demanding that the Crime Control Department (CCD) conduct operations in the Kacha area. He highlighted a recent incident in Nawazabad where a man named Hamza was killed, two others were injured, and one went missing due to dacoit firing. Chang stated, 'First, clean your own house. The CCD should also establish a unit in the Kacha area.' He further demanded the formation of a committee to investigate the killings of innocent people and the registration of false cases against them. Asserting that 'justice will restore the Assembly's dignity,' Chang defended his role as a public servant, stating that he actively participates in welfare work. He praised the Chief Minister of Punjab for establishing the CCD, which has reduced fear in areas previously considered inaccessible. He also commended the peace festival organized by the Punjab Governor in the Kacha area on the 11th of this month. Chang questioned why the CCD and Anti-Corruption Department were not conducting operations in the Katcha area despite having the authority. He alleged that police officials owning land in the region were sabotaging operations. 'If the Prime Minister and Chief Minister can go to jail, why can't the dacoits of Kacha?' he asked. He further claimed that reports indicate some notorious police officers are supporting dacoits in the area. Acting Speaker Zaheer Iqbal Channar sought a report on police officials occupying land in the Katcha area, directing that it be presented in the Assembly to identify those involved. He emphasized, 'Identify the dacoits occupying the Katcha area. Separately, Mumtaz Chang raised concerns about the loans and facilities being offered by Punjab Bank Rahim Yar Khan, stating, 'If we don't know what loans this bank is giving, how will the public know?' He urged the government to inform citizens through advertisements. Government member Ahmed Ahsan Iqbal criticized the Bank of Punjab during the session, stating that its reports are not being presented to the Public Accounts Committee. He said, 'The Bank of Punjab always resists in this matter,' adding that the Assembly has the right to know what privileges are being given to the bank's CEO. Meanwhile, the 26 suspended opposition members of the Punjab Assembly have been reinstated. This decision came as a result of successful negotiations between the government and the opposition following their suspension during the budget speech of Punjab Chief Minister Maryam Nawaz. Provincial Minister for Parliamentary Affairs Mian Mujtaba Shuja-ur-Rehman submitted a request in the assembly for the restoration of the opposition members, upon which Acting Speaker Punjab Assembly Zahr Iqbal Channar immediately ordered their reinstatement. The assembly secretariat also issued a notification confirming the restoration. According to details, on June 27, opposition members created a ruckus during the speech of Punjab Minister Maryam Nawaz, leading to verbal clashes and physical altercations. Following the incident, the Speaker of the Punjab Assembly suspended 26 opposition members for 15 sittings. Later, government members submitted four applications to the Speaker, requesting the Election Commission to issue disqualification notices against the opposition members. Copyright Business Recorder, 2025
The Star
2 days ago
- Business
- The Star
AI tailwinds lift as mid-caps take flight
Positive pivot: Trader Ed Curran (front) works on the floor at the New York Stock Exchange. The high-octane wager is that while President Trump is threatening to disrupt the economic order anew, he will step back from the brink. — AP NEW YORK: A cohort of the world's largest asset managers is leaning harder into the rally in risk assets as US stocks push to fresh highs, defying persistent trade and geopolitical tensions. Firms such as Invesco Ltd, Fidelity International Ltd and JPMorgan Asset Management are reinforcing bullish bets across technology shares from the United States to Asia as well as on emerging market assets. The high-octane wager is that while President Donald Trump is threatening to disrupt the economic order anew, he will step back from the brink. That's helping justify risk exposure at a time when valuations are stretched and macro headwinds persist. In a market that rewards conviction and punishes caution, sitting out is starting to look like the riskiest position of all. 'People have really bought into this belief that there is a Trump put, that if markets correct or if US interest rates go up, Trump will back off as he did in April. That trade is on,' said Chang Hwan Sung, a multi-asset portfolio manager in Invesco's investment solutions team in Hong Kong. 'As we navigate through this uncertainty, we are likely to become more pro-risk.' This shared conviction isn't just a general sense of optimism, it's a calculated bet that the inherent volatility of a second Trump term will ultimately yield to economic pragmatism. For these global fund managers, that translates directly into a still-resilient outlook for international trade and supply chains, powering everything from Indonesian local currency bonds and South Korean chipmakers to US growth stocks. Invesco has boosted its US equity allocation ahead of second quarter corporate earnings, which it anticipates will provide further support for stocks, Chang said. And while the asset manager is 'overweight' on US stocks, it sees even better prospects elsewhere. 'From what I see happening across the globe, we are very likely to be a bit more tilted towards non-US markets such as Europe and emerging markets,' Chang said. Invesco sees medium-term opportunities in South Korea due to optimism over the government's corporate governance reforms. The nation's benchmark Kospi index has already gained more than 30% this year, making it one of the world's best-performing major equity gauges. Invesco is also adding to holdings of local currency emerging market bonds in its cross-asset portfolios as it sees these deriving the most gain from expected US interest rate cuts, Chang said. 'For fixed income, we like high yielders like Indonesia and other high interest rate countries because they will probably benefit the most,' he said. Fidelity favours shares in Taiwan due to the island's high concentration of technology firms, while it likes South Korean stocks for their inexpensive valuations. 'Taiwan is probably one of the best value ways to play the tech cycle upswing, and we see a good case for being overweight,' said Ian Samson, a multi-asset fund manager at the money manager in Singapore. 'If you look at GPU exports from Taiwan, they're just off the charts, it's incredible,' he said, referring to graphics processing units (GPU), a type of chip used to process digital images. Fidelity isn't universally positive on risk assets. The firm's cross-asset portfolios are turning bearish on investment-grade and high-yield US corporate bonds due to their low differential to treasury yields and are buying gold as a hedge, Samson said. AI Tailwind JPMorgan Asset said medium-sized US tech stocks still have room to gain due to the market's optimism over artificial intelligence (AI). The tailwinds of AI demand will offer further support for mid-cap tech stocks in the United States, said Kerry Craig, an investment strategist at the company in Melbourne. — Bloomberg
