Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
HONG KONG (Reuters Breakingviews) - A chastened Tianjin-based property developer is laying the foundation to build a better balance sheet. Sunac China Holdings plans to raise $1 billion by selling discounted shares. Thanks to a 380 percent rise in the company's share price over the last 12 months, it's a good time to tap the market for cash. Given how aggressive Chairman Sun Hongbin has been, though, he probably will need to do so again.
HONG KONG (Reuters Breakingviews) - Jack Ma is pedaling headlong into China's troubled bicycle-sharing sector. Alibaba affiliate Ant Financial just hedged its investment in Ofo with a $300 million stake in Shanghai-listed Youon. That's another 80 million potential users for its Alipay system. The move reflects rising stakes in a cutthroat battle with Mobike, backed by payments rival Tencent.
HONG KONG (Reuters Breakingviews) - U.S. President Donald Trump is back from his China visit, but the afterglow of his bromance with counterpart Xi Jinping has faded fast. Unimpressed with progress on North Korea and market opening, the White House has moved aggressively to target aluminium dumping. This is just an opening salvo in what looks set to be an acrimonious renegotiation of the world's most important trade relationship.
HONG KONG (Reuters Breakingviews) - It is time to start worrying about Chinese bonds. Tightening regulation has provoked a sharp selloff in the $9 trillion fixed-income market, with collateral damage to share. If stress is sustained, it could infect China’s giant pile of foreign-currency debt.
HONG KONG (Reuters Breakingviews) - CEFC China Energy will aggravate Western paranoia over Beijing's investment intentions. The private company came out of nowhere to buy a $9.1 billion stake in Russian oil giant Rosneft - the sort of deal once reserved for state energy champions. It has raised eyebrows by trying to invest in U.S. brokerage Cowen. Now Reuters reports the enigmatic firm might bid for Time Warner's stake in a central European media group. The company is acting as if it has a permit to deal issued from President Xi Jinping himself.
HONG KONG (Reuters Breakingviews) - The longtime Asia bull and Quantum Fund co-founder thinks the worst bear market of his lifetime is coming. He swung by our Hong Kong bureau to discuss the risks, as well as Trump’s Asia tour and why America could become its own worst enemy if it lets China dominate the region.
HONG KONG (Reuters Breakingviews) - China is letting outside investors join the front line in its war on debt. The government will let foreigners control financial-sector joint ventures, and says it will eliminate ownership caps completely in a few years. Western financiers have been burned by such promises before. But the $10 trillion in uninvested savings languishing in local banks, plus a burgeoning wealth management industry, should encourage experienced players to take a second swing.
HONG KONG (Reuters Breakingviews) - Hong Kong's listing market looks more Chinese every day. China Literature, the online publishing arm of mainland tech colossus Tencent, smashed the chandeliers in its $1.1 billion Hong Kong debut, soaring more than 80 percent in early trade on Wednesday. As local punters swarm into mainland tech, the new-issue market is starting to mimic distortions more common in Shanghai and Shenzhen. For the bourse operator, Hong Kong Exchanges and Clearing, it's a good problem to have.
BEIJING (Reuters Breakingviews) - Beijing’s dollar bonds show how Chinese risk has been repriced. The country is selling $2 billion of five-and 10-year sovereign dollar bonds, the first such issue since 2004. Despite recent downgrades by global rating agencies, these are likely to yield just 30 to 50 basis points above U.S. Treasury bonds. Local banks can guarantee demand if needed, but there is also a genuine reassessment of China risk underway.
BEIJING (Reuters Breakingviews) - As China's Communist Party tightens its grip, Western hopes that rising incomes would produce more economic and political opening look like wishful thinking. For foreigners this "new era" means more risk emanating from the People's Republic.
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