-- Kakao (KRX:035720) has an average rating of buy and mean price target of 72,571.43 won, according to analysts polled by FactSet.
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Indonesia's Finance Minister Purbaya Yudhi Sadewa is planning to activate a bond stabilization fund in a bid to support the rupiah and protect the bond market from global pressures, The Jakarta Globe reported Thursday.The deployment of the fund aims to steady the securities (SBN) market amid increasing yields that can lead to falling bond prices and an increased likelihood of capital losses, the report said.By using the fund, the size of which has not been disclosed, to acquire SBN in the secondary market as required, the government can reportedly boost market confidence and control foreign outflows.The program will be under full control of the Finance Ministry, Purbaya said and The Jakarta Globe reported.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Overseas mergers and acquisitions by Chinese companies surged the fastest in five years during the first quarter, according to data from think tank Rhodium Group.In the first quarter, offshore M&A reached $9.6 billion, increasing for the fifth straight quarter to the highest quarterly value since the last quarter of 2020, the group said.The quarter's largest transaction was the purchase of Canadian miner Allied Gold by Zijing Mining (SHA:601899, HKG:2899) unit Zijin Gold International's (HKG:2259) for CA$5.5 billion, the think tank said.
Several large Indonesian banks integrated their mobile banking services with China's digital payment platforms to ensure ease of payments for travelers to China, The Jakarta Globe reported Friday.Bank Rakyat Indonesia (IDX: BBRI), Bank Negara Indonesia (IDX:BBNI), PT Bank Mandiri (Persero) (IDX:BMRI), and Bank Central Asia (IDX:BBCA) integrated cross-border QRIS services into their apps to facilitate the transactions.The connection with Alipay, UnionPay, and Weixin Pay, and others will eliminate the need for Indonesian travelers to convert and carry US dollars by allowing direct payments in rupiah using QRIS.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)