Latest news with #GaryTan
Zawya
2 hours ago
- Business
- Zawya
India lures foreign investors back with big ticket block trades
SYDNEY/SINGAPORE - Foreign investors are starting to head back into Indian stocks after a major exodus, attracted by $5.5 billion worth of big ticket block trades in May and lifting hopes of a revival in the nation's equities market. The block trades were well bought by overseas investors, according to bankers. They marked the highest monthly total in almost a year and a huge jump from only $220 million in April. "We actually saw interest coming in from a fairly diverse set of investors who were missing in action in the last six months," said Abhinav Bharti, head of JPMorgan's India equity capital market business. "They had gone out of India, said India is just too expensive, we don't want to buy anything right now. I think we could start seeing them coming back." Block trades often precede a recovery in IPOs and May's robust offerings come amid a strong performance for Indian stocks. The Nifty 50 index has climbed risen 6% since early April when U.S. President Donald Trump announced his sweeping tariffs which were then paused for 90 days, with India emerging as an investor safe haven due to better-than-feared duties. Foreigners have since bought about $3 billion worth of Indian stocks in April and May combined, data shows. That comes after they pulled nearly $29 billion out of Indian stocks between October and March which followed record highs for the country's benchmark indices in September. Gary Tan, a portfolio manager at Allspring Global Investments in Singapore, said the recent inflows into India reflect a resurgence of interest in emerging market equities. "We've selectively added to India on pullbacks but remain underweight," said Tan, citing high valuation in some sectors. Banking, telecommunications and diversified conglomerates were his most favoured sectors, he added. The $5.5 billion in block trades in May, according to LSEG data, included the sale of a British American Tobacco $1.51 billion stake in ITC, according to a term sheet seen by Reuters showed. IndiGo co-founder Rakesh Gangwal also offloaded a 5.7% stake in the low-cost carrier through a block deal worth about $1.36 billion, while Singtel sold $1.5 billion of Bharti Airtel shares. Both the ITC and IndiGo trades were increased in size after strong demand from investors, bankers said. It was the busiest May on record for block trades in the country, the data showed. "We're seeing high-quality global long-only accounts coming in with conviction," said Sunil Khaitan, a managing director at Goldman Sachs in India. "Some are still waiting for levels to normalize, but 90% to 95% of the foreign liquidity coming back into the market is from deeply embedded India investors, those who understand the market and have been waiting for the right window to reengage." Citigroup's head of India ECM Arvind Vashistha said the country's better economic performance, tax cuts and interest rate reductions had helped sentiment towards India's equity markets improve. "The economy is in good shape, valuations have become more reasonable, which is encouraging healthy market activity. Investors are telling us that these are the companies we find interesting and if there's a supplier, we'd love to buy it," he said. (Reporting by Scott Murdoch and Ankur Banerjee; Editing by Edwina Gibbs)
Yahoo
2 hours ago
- Business
- Yahoo
India lures foreign investors back with big ticket block trades
By Scott Murdoch and Ankur Banerjee SYDNEY/SINGAPORE (Reuters) -Foreign investors are starting to head back into Indian stocks after a major exodus, attracted by $5.5 billion worth of big ticket block trades in May and lifting hopes of a revival in the nation's equities market. The block trades were well bought by overseas investors, according to bankers. They marked the highest monthly total in almost a year and a huge jump from only $220 million in April. "We actually saw interest coming in from a fairly diverse set of investors who were missing in action in the last six months," said Abhinav Bharti, head of JPMorgan's India equity capital market business. "They had gone out of India, said India is just too expensive, we don't want to buy anything right now. I think we could start seeing them coming back." Block trades often precede a recovery in IPOs and May's robust offerings come amid a strong performance for Indian stocks. The Nifty 50 index has climbed risen 6% since early April when U.S. President Donald Trump announced his sweeping tariffs which were then paused for 90 days, with India emerging as an investor safe haven due to better-than-feared duties. Foreigners have since bought about $3 billion worth of Indian stocks in April and May combined, data shows. That comes after they pulled nearly $29 billion out of Indian stocks between October and March which followed record highs for the country's benchmark indices in September. Gary Tan, a portfolio manager at Allspring Global Investments in Singapore, said the recent inflows into India reflect a resurgence of interest in emerging market equities. "We've selectively added to India on pullbacks but remain underweight," said Tan, citing high valuation in some sectors. Banking, telecommunications and diversified conglomerates were his most favoured sectors, he added. The $5.5 billion in block trades in May, according to LSEG data, included the sale of a British American Tobacco $1.51 billion stake in ITC, according to a term sheet seen by Reuters showed. IndiGo co-founder Rakesh Gangwal also offloaded a 5.7% stake in the low-cost carrier through a block deal worth about $1.36 billion, while Singtel sold $1.5 billion of Bharti Airtel shares. Both the ITC and IndiGo trades were increased in size after strong demand from investors, bankers said. It was the busiest May on record for block trades in the country, the data showed. "We're seeing high-quality global long-only accounts coming in with conviction," said Sunil Khaitan, a managing director at Goldman Sachs in India. "Some are still waiting for levels to normalize, but 90% to 95% of the foreign liquidity coming back into the market is from deeply embedded India investors, those who understand the market and have been waiting for the right window to reengage." Citigroup's head of India ECM Arvind Vashistha said the country's better economic performance, tax cuts and interest rate reductions had helped sentiment towards India's equity markets improve. "The economy is in good shape, valuations have become more reasonable, which is encouraging healthy market activity. Investors are telling us that these are the companies we find interesting and if there's a supplier, we'd love to buy it," he said.
Independent Singapore
2 days ago
- Business
- Independent Singapore
Singapore Aquatics bolsters coaching team with Japanese Masataka Ishimatsu's expertise
SINGAPORE: Japanese coach Masataka Ishimatsu will join the national training centre as part of its long-term ambition to develop a sustainable pipeline of elite athletes and prepare a competitive team for the 2028 Olympics in Los Angeles. The announcement by the Singapore Aquatics (SAQ) on May 29 coincides with its National Training Centre's 10th anniversary this year, as the national sports association charts a bold course for the future with a strategic expansion of both its coaching and sport science teams. 'I'm excited to be part of the team at Singapore Aquatics, especially as the National Training Centre enters this new chapter. I have seen firsthand how committed teams can make a big impact on the world stage,' said SAQ's co-lead coach Ishimatsu. Ishimatsu, a key figure in Japan's Olympic coaching setup from 2017 to 2025, will be supporting Singapore's national swimming head coach, Gary Tan, alongside current lead coaches Alexander Mordvincev and Gustavo Schirru. 'The recent growth of our National Training Centre marks a pivotal moment in our pursuit of sporting excellence. By blending experienced international coaches with promising local talents, we are building a high-performance system geared for both immediate success and long-term sustainability. The addition of Masataka Ishimatsu strengthens our depth in middle-distance events, complementing our existing strengths,' expressed Gary Tan, SAQ's national head coach. Singapore Aquatic's national training centre co-lead Singapore Aquatics – Masataka Ishimatsu and national swimming head coach Gary Tan. (Photo credit: Singapore Aquatics) Ishimatsu brings extensive international experience, having trained some of Japan's most decorated swimmers, including two-time Olympic gold medalist Yui Ohashi, two-time Olympic medalist Ryosuke Irie, and Akihiro Yamaguchi, a former world record holder in the 200m breaststroke. Beyond his coaching credentials, Ishimatsu has played a key role in developing national training camps and technical planning structures for Japan's elite squads and is highly regarded within Japan's coaching community as a rising leader in high-performance swimming coaching. 'My goal is to contribute not just in the pool but also by sharing technical knowledge and coaching culture that supports long-term success. I look forward to working with the athletes and staff to build something special together,' added the 38-year-old Japanese swimming coach. SAQ also shared that they remain focused on preparing a strong and competitive team for the LA 2028 Olympics, and they are working to deliver world-class performance through enhanced coaching and sport science capabilities. Ex-national swimmers nurturing the next generation Former national swimmer Zach Ong will join SAQ as coach of the Emerging Talents Programme, where he will lead efforts to shape and develop Singapore's next generation of youth swimmers. Meanwhile, Donovan Lee will step into his new role as sports science executive. The sports science team will also welcome Koh Chiya as a full-time high-performance sports scientist. See also Golden gift from Shanti Pereira and Remy Ong to National Museum SAQ's national swimming head coach Tan also pointed out that as they prepare for the 2028 Olympics, they are 'dedicated to nurturing a strong pipeline of junior athletes and cultivating a strong coaching workforce rooted in local expertise, setting the foundation for our development into a world-class aquatics nation.' These appointments underscore SAQ's long-term commitment to nurturing local talent, with Ong and Lee's transition from national athletes to technical and coaching roles reflecting a purpose-driven pipeline that invests in individuals with lived experience in high-performance sport. Former national swimmer Donovan Lee will join Singapore Aquatics' sport science set-up. (Photo credit: Singapore Aquatics) 'As we mark 10 years of the National Training Centre, we are not only celebrating a significant milestone but also charting the next phase of our journey. Moving forward, we are placing greater emphasis on developing a robust pipeline of coaching talent,' said Associate Professor Kenneth Goh, President of SAQ. Goh shared that their goal is to build a sustainable, high-performance ecosystem anchored in home-grown talent. This includes providing meaningful opportunities to the local coaching community through educational workshops and on-deck mentorship from both local and international experts. 'This long-term investment in people and systems will strengthen Singapore's competitiveness in aquatics across all levels—from junior development right through to the Olympic stage,' added Goh. Apart from the 2028 Olympics, SAQ also highlighted its commitment to building a broad talent pipeline that will develop more athletes ready to compete in the 2026 Asian Games, as well as the 2027 and 2029 SEA Games.
Top Gear
3 days ago
- Automotive
- Top Gear
Omoda: smart tech makes cars ‘luxury' now, not engine performance
Tech TG gets the lowdown on what makes a fancy car from Omoda Jaecoo UK chief, Gary Tan Skip 1 photos in the image carousel and continue reading Gary Tan, UK boss of the Omoda Jaecoo outfit, reckons luxury isn't about horses under bonnets or the smell of polished burr walnut anymore. It's about gadgets, glowing things, and digitised comfort. Fancier car brands might roll their quilted-leather armrests and shagpile car mats at that, but speaking to Tan said: 'Nowadays, especially the younger generation, they want a vehicle to be as smart as their phone, so we feel that making a car very smart is another way of luxury.' Advertisement - Page continues below Air purification for your hayfever? Check. Acoustic glass? Check. Fragrance patterns? Sure, why not. Once the domain of fancy six-figure saloons, now such features are available in cars costing less than £30k, alongside karaoke kit, of course. Tan says dealer feedback has been overwhelmingly positive. 'Because the cars are so well specced and priced a segment below, customers have experienced features they never knew they needed. And once they've had them, it's quite hard to go back.' You might like Omoda has two trim choices to keep things simple, but shrewdly, it's also offering 70,000 miles' worth of RAC breakdown cover to build trust... and for those times you accidentally change the interface language into Turkish. Smart enough to drive itself? Not yet. Tan says there's more work to be done locally, highlighting roundabouts, potholes and poor data connectivity as critical obstacles to this development; 'The UK has very unique road conditions so we don't feel ready. Plus, in the UK, the internet speed is different from other countries.' Advertisement - Page continues below And by different, we presume he means 'slower'. What do you reckon? Thank you for subscribing to our newsletter. Look out for your regular round-up of news, reviews and offers in your inbox. Get all the latest news, reviews and exclusives, direct to your inbox.
Yahoo
4 days ago
- Business
- Yahoo
DeepSeek Unveils Update to R1 Model
(Bloomberg) -- DeepSeek said it has upgraded the R1 artificial intelligence model that helped propel the Chinese startup to global prominence at the start of this year. NYC Congestion Toll Brings In $216 Million in First Four Months NY Wins Order Against US Funding Freeze in Congestion Fight NY Congestion Pricing Is Likely to Stay Until Year End During Court Case The company completed what it described as a 'minor trial upgrade' and is allowing users to start testing it, it said in an official WeChat group on Wednesday. Details of the upgrade weren't provided and the company didn't respond to an email seeking further comment. The Hangzhou-based startup stunned the global tech industry in January when it unveiled the original R1, a reasoning AI model that outperformed Western players on several standardized metrics, purportedly at a cost of just several million dollars. It triggered a reconsideration of heavy investments in acquiring AI computational resources and a flurry of new model introductions from Chinese players from Alibaba Group Holding Ltd. to Zhipu AI. 'The fast pace of model releases and updates since the release of DeepSeek R1 has resulted in some 'model fatigue' among investors,' said Gary Tan, portfolio manager at Allspring Global Investments. 'Until there is a breakthrough in the model, investors are turning their focus on which internet companies can integrate AI into their operations and create a killer application.' The debut of R1 turned DeepSeek founder Liang Wenfeng into a tech celebrity and a symbol of China's ability to compete with the best of Silicon Valley. In February, President Xi Jinping invited Liang to a high-profile gathering with some of the country's most prominent entrepreneurs. The young founder was seated among the likes of Alibaba co-founder Jack Ma and Tencent Holdings Ltd.'s Pony Ma. DeepSeek's upgrade was announced hours before the latest financial report from Nvidia Corp., the leading maker of AI chips whose shares were pummeled in the immediate wake of R1's release. Nvidia's fortunes have recovered since, as AI data center investment has continued at a strong pace, and the US company offered a solid forecast for the current quarter. --With assistance from Jessica Sui, Winnie Hsu and Saritha Rai. (Updates with table compiling most recent Chinese AI model releases) Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
