Asia Hedge Funds Avert Disaster on Scale of GFC with China Reopening (AFR.com)
Asia hedge funds narrowly averted their first year of double-digit losses since the 2008 financial crisis after China’s sudden easing of COVID-19 restrictions spurred a late market rally. Funds including those run by Aspex Management, Triata Capital, Yunqi Capital and Brilliance Asset Management pared a significant portion, if not all, of their 2022 losses during the final two months of last year. A Eurekahedge gauge of regional hedge fund returns finished the year down 8.4 per cent, after losses exceeding 13 per cent through the end of October put it on course for the second-ever annual double-digit decline.
This Insider Just Spiked Investors’ Interest in Zymeworks (NASDAQ:ZYME) Stock (TipRanks)
Story Highlights: A corporate insider bought 985,100 shares of ZYME yesterday. The insider activity spiked investors’ interest, and the stock rallied 12% at the time of writing. One of Zymeworks’ (NASDAQ:ZYME) insiders, Ecor1 Capital, LLC, bought ZYME stock worth $9.7 million. Ecor1 Capital is a more-than-10%-owner of ZYME. Its buy attracted investors’ attention, and the stock rallied a solid 18% in Wednesday’s extended trade and a further 12% at the time of writing.
Genpact, Buckle And These 2 Stocks Insiders Are Selling (Benzinga)
The Trade: Adobe Inc. (ADBE) Director John Warnock sold a total of 3,000 shares at an average price of $341.91. The insider received around $1.03 million from selling those shares. Buckle: The Trade: The Buckle, Inc. (BKE) EVP Stores Kari Smith sold a total of 25,000 shares at an average price of $48.10. The insider received around $1.2 million from selling those shares.
Ex-Nippon Paint Senior VP and Two Others Charged with Insider Trading (The Business Times)
FOR communicating non-public and material information about Nippon Paint’s proposed acquisition of DuluxGroup, Shae Toh Hock, 62, was charged on Thursday (Jan 19) with one count of an offence under Section 219(3)(a) of the Securities and Futures Act (SFA). His sister Shae Hung Yee, 59, and her husband Siew Boon Liong, 62, were also charged with one count of an offence under Section 219(2)(a) of the SFA read with Section 109 of the Penal Code.
Tuesday 1/17 Insider Buying Report: EOG, AKAM (Nasdaq.com)
At EOG Resources, a filing with the SEC revealed that on Thursday, Director Michael T. Kerr purchased 20,000 shares of EOG, at a cost of $130.49 each, for a total investment of $2.61M. EOG Resources is trading down about 0.2% on the day Tuesday. And at Akamai Technologies, there was insider buying on Friday, by Chief Executive Officer F. Thomson Leighton who bought 850 shares for a cost of $88.44 each, for a trade totaling $75,175. Before this latest buy, Leighton bought AKAM on 9 other occasions during the past twelve months, for a total cost of $500,975 at an average of $85.68 per share. Akamai Technologies is trading up about 0.2% on the day Tuesday. So far Leighton is in the green, up about 0.9% on their buy based on today’s trading high of $89.20.
DEWA brings out policy on insider trading; more DFM-listed expected to follow (Gulf News)
Dubai: The Dubai utility company DEWA has come out with a comprehensive set of rules against insider trading, and by which individuals would benefit from having prior information about the company’s operations, plans or financial results. The passing of these rules by DEWA will help the DFM-listed stock resonate with investors, particularly international funds. On Thursday (January 19), DEWA’s stock is trading unchanged at Dh2.41.
