Latest news with #SumitomoMitsuiBankingCorp
Nikkei Asia
2 days ago
- Business
- Nikkei Asia
SMBC to set up $300m fund for US fintech, AI startups
SMBC and Fin Capital's corporate venture capital fund will support financial technology startups. (Photo by Yuki Nakao) MASAYUKI SHIKATA TOKYO -- Sumitomo Mitsui Banking Corp. (SMBC) will establish a $300 million venture capital fund in partnership with a U.S. asset manager to invest in artificial intelligence and fintech startups, the Japanese lender announced Monday. The new SMBC Fin Atlas Beyond Fund will be set up in partnership with asset manager Fin Capital. SMBC will provide most of the funding, with plans to run the fund for 10 years.
Nikkei Asia
22-07-2025
- Business
- Nikkei Asia
SMBC to double startup funding to $1.8bn through loans, investments
TOKYO -- Japanese lender Sumitomo Mitsui Banking Corp. (SMBC) plans to double funding for startups, seeking to capture demand from early-stage companies hungry for capital. SMBC will extend 270 billion yen ($1.84 billion) in investments and loans to startups between fiscal 2023 and fiscal 2025, which closes March 2026. This is up from 135 billion yen originally planned for the period.
Bloomberg
16-07-2025
- Business
- Bloomberg
SMBC Sells Over $1.5 Billion Investment Grade Loans to Apollo
Sumitomo Mitsui Banking Corp. has sold a portfolio of over $1.5 billion performing loans in Asia Pacific to Apollo Global Management, according to people familiar with the matter. The Japanese bank initiated the sale of the portfolio, which comprises Asia Pacific investment grade names, to free up capital and cut its risk-weighted assets, the people said, who asked not to be identified discussing private matters. Some of the investments require high capital, but generate low returns, one of the people said.
Business Recorder
16-07-2025
- Business
- Business Recorder
Asian currencies in tight range
BENGALURU: Currencies and equities in emerging Asia traded in a tight range on Tuesday, as investors remained cautious over tariff developments and assessed Chinese economic data pointing to underlying weakness in the region's biggest economy. Indonesia's rupiah slipped to a near three-week low, while equities pared early gains to trade slightly up. The Malaysian ringgit, the Philippine peso, Singapore's dollar and Taiwan's dollar also edged lower. South Korea's won and the Indian rupee held steady near their previous session's close. Asian currencies were in a tentative mood on Tuesday, said Jeff Ng, head of Asia macro strategy, Sumitomo Mitsui Banking Corp, adding that investors were awaiting further clarity on trade tariffs. China reported second-quarter economic growth that beat market estimates but fell short of the prior quarter's pace. While the economy has so far avoided a sharp slowdown, markets are bracing for a weaker second half as US tariffs weigh on exports. One of the key focal points during trade talks between the United States and trade partners have been levies on trans-shipments as US President Donald Trump seeks to curb China's trade penetration in the region. 'We think (China's) exports could slow visibly in H2, likely to close to zero in H2, especially if other countries start cracking down on transshipments under US pressure,' Barclays analysts led by Yingke Zhou said in a client note. The Shanghai Composite index fell 1% to a one-week low, while the blue-chip CSI300 Index shed early gain to slip 0.5%. The Chinese yuan drifted lower against the US dollar. Equity markets in emerging Asia were mixed: Singapore's stocks extended their recent rally, nudging higher to set an all-time high for the tenth consecutive day.
Business Recorder
15-07-2025
- Business
- Business Recorder
Currencies, stocks in tight range as markets gauge tariffs, China data
Currencies and equities in emerging Asia traded in a tight range on Tuesday, as investors remained cautious over tariff developments and assessed Chinese economic data pointing to underlying weakness in the region's biggest economy. Indonesia's rupiah slipped to a near three-week low, while equities pared early gains to trade slightly up. The Malaysian ringgit, the Philippine peso, Singapore's dollar and Taiwan's dollar also edged lower. South Korea's won and the Indian rupee held steady near their previous session's close. Asian currencies were in a tentative mood on Tuesday, said Jeff Ng, head of Asia macro strategy, Sumitomo Mitsui Banking Corp, adding that investors were awaiting further clarity on trade tariffs. China reported second-quarter economic growth that beat market estimates but fell short of the prior quarter's pace. While the economy has so far avoided a sharp slowdown, markets are bracing for a weaker second half as U.S. tariffs weigh on exports. One of the key focal points during trade talks between the United States and trade partners have been levies on trans-shipments as U.S. President Donald Trump seeks to curb China's trade penetration in the region. 'We think (China's) exports could slow visibly in H2, likely to close to zero in H2, especially if other countries start cracking down on transshipments under U.S. pressure,' Barclays analysts led by Yingke Zhou said in a client note. The Shanghai Composite index fell 1% to a one-week low, while the blue-chip CSI300 Index shed early gain to slip 0.5%. The Chinese yuan drifted lower against the U.S. dollar. Equity markets in emerging Asia were mixed: Singapore's stocks extended their recent rally, nudging higher to set an all-time high for the tenth consecutive day. Stock markets in Indonesia and Thailand edged higher, while those in Malaysia and the Philippines slipped 0.4% each. In Indonesia, analysts are divided ahead of Bank Indonesia's interest rate decision on Wednesday. A Reuters poll showed 15 of 29 economics expect the central bank to cut its key borrowing rate by 25 basis points. In East Asia, Taiwan's benchmark index, dominated by semiconductor firms, rose 0.6% to recoup losses from Monday, while South Korea's KOSPI slipped lower. An MSCI index of equities in emerging Asia ticked higher. Asian stock markets have rebounded sharply from their April slump, reaching multi-week highs as investors bet that the worst tariff scenarios are unlikely to materialize and that the duties won't trigger a U.S. recession or severely impact corporate earnings.
