Deutsche Bank asset manager explores curbs on German property funds
DWS is considering emergency measures as investors withdraw money from an open-ended retail property fund.
DWS is considering emergency measures as investors withdraw money from an open-ended retail property fund.
Investment funds in Spain are increasing their bets on major property deals in 2026. A lack of transparency around property ownership makes it difficult to track the share held by large landlords and new market players or obtain a real-time view of the market.
New investment funds emerging in Spain rank among the biggest property deals of 2026. A lack of transparency over property ownership makes it difficult to track how much large landlords hold, who is entering the market and what the business looks like in real time.
As Japan’s central bank tightens monetary policy, investors who borrowed in yen to pursue higher yields may be forced to sell their positions.
Bank of America’s credit traders are feeling the consequences of the firm’s decision to pass on some of the hottest artificial-intelligence deals to reach the market.
Taiwan’s benchmark Taiex reached a record intraday high on Tuesday, lifted by gains in technology stocks after an artificial intelligence-driven rally on Wall Street.

Radiant World disclosed $870 million outstanding to six creditors that financed its receivables, according to a spreadsheet submitted in a legal filing by the embattled commodity trader.
Analysts say Saudi Arabia’s withdrawal from the China-led mBridge digital currency platform would matter more symbolically than operationally. It highlights the pressure on countries navigating between US influence and alternatives to dollar-based payment infrastructure. Saudi Arabia’s central bank said it had participated in mBridge.

India’s proprietary trading has fallen to a four-year low as the closing auction struggles with thin liquidity and amplified price swings.
Animoca Brands has suspended a merger deal that would have taken the company public. Chairman Yat Siu said corporate agility must take precedence over pursuing the merger with Currenc.

Asian markets rose on Tuesday as technology shares rallied and lower oil prices improved sentiment. Investors were hoping for US-Iran talks, while the dollar strengthened on bets that further rate hikes would be needed to contain inflation.
Hong Kong’s first five-year plan proposes studying and promoting renminbi payments for government spending in more suitable situations, including mainland training costs and Dongjiang water purchases. Economists say the move is intended to expand the currency’s use, but could also fuel concerns about the Hong Kong dollar’s importance and credibility. Its legal-tender status and dollar peg are not currently expected to change.

South Korea’s government is expected to brief lawmakers on Tuesday on a $350 billion investment package in the United States. The briefing is a key step as Seoul and Washington work to finalize implementation of a trade deal that reduced US tariffs on South Korean goods to 15%, amid concerns about the package’s profitability.
The Masayoshi Son-backed data centre company is slowing its IPO amid market concerns about an AI slowdown and weak interest in a new debt sale.
Qatar’s sovereign wealth fund is seeking a $20 billion partnership with JPMorgan Chase, months after reaching a similar agreement with Goldman Sachs. The move highlights the fund’s deepening relationships with Wall Street.
A Sept. 21 snapshot showed about $120 billion of staked ETH and $40.4 billion in average daily total value locked on layer-2 networks, but the figures measure different things and cannot be combined as fresh demand. US-traded Ethereum ETFs also saw more than $140 million in net outflows from Sept. 15 to 18. Staking, L2 assets, ETF flows, fees and ETH burn are separate measures that do not by themselves establish total demand or supply contraction.

Oura Inc. is pursuing a US listing that could generate up to $2.2 billion for the health-and-fitness ring company and some of its backers.
The Eurosystem has launched Pontes, giving banks a live route to settle tokenized assets in central-bank money. The ECB is also preparing to invest a small share of its own funds in euro-denominated tokenized securities, with purchases to settle through the new system. Pontes will expand over time, with full implementation targeted for 2028.


The European Central Bank has introduced a system linking its payment infrastructure with blockchain-based financial markets and plans to purchase tokenized bonds using its own funds.
The long-delayed debut of India’s National Stock Exchange is approaching amid heightened scrutiny of options trading, casting uncertainty over the $46bn IPO of the world’s largest derivatives exchange.
Technology shares jumped on Monday, with the Nasdaq 100 posting its strongest single-day performance since early August as a wave of euphoria swept through markets.

Brian Smith has been pursuing every avenue he can find to gain exposure to Anthropic stock before the company’s blockbuster initial public offering.
TD Cowen expects demand for tokenized stocks to remain limited, even as new SEC rules create a route for trading them outside traditional markets.

Gabon plans to raise 1.144 trillion CFA francs ($2.01 billion) from international markets in 2027 under a draft budget that projects faster economic growth and a recovery in oil output. Debt servicing and repayments are also expected to rise sharply.
The ruble-denominated MOEX Index fell 0.88% to 2,257.91 points at Monday’s close, while the dollar-denominated RTS Index dropped 0.76% to 845.81. Experts said market and geopolitical factors, along with domestic news, weighed on investor sentiment. Lenta led gains, while Samolet Group fell 6.5%.
Bitcoin’s rebound toward $86,000 has returned average US spot Bitcoin ETF holders to profit after months underwater. Their estimated cost basis is now below the market price, although cumulative ETF inflows remain about $6.03 billion below their October 2025 peak and recent flows have stayed volatile.

Former Ukrainian security service officer Vasily Prozorov said Western media claims that Ukraine’s steel industry has completely collapsed may be exaggerated. However, he said the sector’s damage is likely to severely hit state foreign-currency and tax revenues, as rolled metal exports had been a major source of foreign exchange.
Crude oil stocks in the U.S. Strategic Petroleum Reserve dropped to 284.6 million barrels last week, the lowest level since October 1982, according to Department of Energy data.
The Bank of Russia set the official dollar rate for September 22 at 84.0954 rubles, down 10.21 kopecks from the previous rate. The euro rate fell to 96.3733 rubles and the yuan rate to 12.5448 rubles.
Stocks and bonds began the week higher as hopes for diplomatic efforts to end the war in Iran pushed oil prices down and eased concerns about inflation.
Canada’s main stock index was subdued on Monday as oil prices fell more than 3%, putting pressure on energy shares. Investors awaited remarks from Bank of Canada Governor Tiff Macklem for clues about the future policy path.
Bitcoin treasury firms Strategy and Strive bought about $183 million of BTC last week as the token rose above $85,000. Strategy acquired 950 BTC and Strive bought 1,355, lifting the corporate treasury group back above its estimated cost basis, even as overall company buying has slowed sharply.


Strategy purchased 950 bitcoin for $76 million, lifting its total holdings to 846,000 BTC. The holdings represent about 4% of bitcoin’s 21 million supply cap and are worth roughly $72 billion.

Strategy resumed buying bitcoin last week after a pause of about three weeks, adding BTC worth $75 million.
Pension and sovereign wealth funds with billions of dollars to invest are discovering that the diversification they once depended on may be an illusion.
Money managers are betting on solar engineering and wildfire-mitigation technology as they consider where to invest in climate amid the focus on AI and high interest rates.
Ahead of Climate Week in New York City, US solar engineering companies and wildfire-mitigation technologies are emerging as favored climate-related investments while the AI trade and high interest rates dominate markets.
AMD’s market value has reached $1 trillion as its shares advance for a fifth straight session. The stock has gained more than 180% so far in 2026.

Antoine Arnault’s latest personal investment is in French supercar manufacturer Delage Automobiles, part of his effort to widen his portfolio.
Coinbase is opening IPO allocations to US customers, beginning with Oura. The move extends its push from secondary-market stock trading into the primary market, after the company launched pre-IPO derivatives.

Markets columnist Katie Martin and US financial commentator Robert Armstrong will take part in a live Ask an Expert Q&A on Thursday September 24 at 1pm BST, answering questions about the biggest risks facing markets.
Major U.S. stock indexes opened higher on Monday, lifted by gains in AI shares as Treasury yields eased. Crude prices dropped more than 2% to an 11-day low amid signs that Middle East negotiations were making progress.
One in five companies in Germany is considering relocating investments, has taken steps to do so, or has already carried out such a move.

Kremlin spokesman Dmitry Peskov said the end of cheap Russian gas has damaged Germany’s economic competitiveness. He added that Germans are seeking an alternative to the current leadership to improve their situation.
Tom Lee says the crypto bull market is underway as Bitmine buys 27,562 ETH. The company’s total investments now stand at $17.1 billion, and it holds more than 4.9% of Ethereum’s circulating supply.


Bitmine, the largest Ethereum-focused treasury firm, continued adding to its holdings with a $75 million ether purchase. Chairman Tom Lee said ETH’s strong third quarter could encourage institutions to increase their exposure to crypto.
Xi Jinping is due to meet Donald Trump in Washington this week, but Europe is likely to remain caught between unpredictable US trade policy and China’s export machine. Washington and Beijing are competing over trade, advanced chips, rare earths and artificial intelligence, with officials reportedly discussing a mechanism to notify each other about AI security incidents. European officials meanwhile warn that a new wave of Chinese industrial competition is worsening deindustrialization pressures.

US equity futures are rising as oil prices fall, while officials express optimism about a summit between President Donald Trump and China’s Xi Jinping scheduled for this week.
Artificial intelligence is expected to feature prominently when US President Donald Trump meets Chinese President Xi Jinping at the White House on Thursday. The two superpowers view AI as the latest focal point of their economic rivalry. Trump said on Sept. 13: “Whoever wins AI, wins.”
Ahead of a meeting with Xi, Trump continues to argue for artificial intelligence, maintaining that the technology does not need additional guardrails even as calls grow for a slowdown.

Officials from the United States and China discussed creating a mechanism for the two countries to notify each other about AI incidents that could pose a threat to national security.
Scott Bessent pushed back against a bearish view of the U.S. economy, pointing to strong growth, foreign demand for American assets and the dollar’s continued dominance.

The Eurosystem has launched Pontes, a platform enabling banks to settle tokenised-asset trades with central bank money. The ECB says it will also invest some of its own funds in tokenised securities through the system, marking its first concrete steps toward adapting the euro to the digital age.
Most Gulf stock markets declined in early Monday trading as intensifying regional conflict outweighed cautious optimism about diplomatic progress expected at UN meetings this week.
New World Development said it received approval from the Shanghai Stock Exchange to spin off and list a real estate investment trust containing its K11 Shanghai assets. The NWD C-Reit is expected to raise about 3.82 billion yuan, with estimated net proceeds of 3.24 billion yuan for the developer.

Qatar said a gas pipeline bypassing the Strait of Hormuz would not make economic sense. It also launched a platform to manage QIA’s domestic holdings and identified more than $60 billion in investment opportunities as it significantly reshapes its sovereign wealth strategy.
Hong Kong’s stock exchange has proposed relaxing requirements for listed companies to disclose corporate transactions and obtain shareholder approval, while making business spin-offs easier. A consultation paper released Monday proposes removing the current profit test used to determine whether a transaction needs disclosure or shareholder approval and replacing it with a market-based approach…

The Bank of Russia bought 2 billion rubles ($23.80 million) worth of yuan on the domestic market, with settlement on September 18, 2026. Purchases settled on September 17 also amounted to 2 billion rubles. The operations are conducted through the Moscow Exchange’s foreign-exchange section using the yuan-ruble instrument.
Russian Prime Minister Mikhail Mishustin said transactions using the digital ruble have been available in Russia since September 1, when cryptocurrency circulation also became legal. Legislation signed by the president establishes rules for crypto exchanges, digital depositories and market participants, along with conditions for investors to buy cryptocurrencies.
Greece’s stock market entered FTSE Russell’s developed-market group on Monday, a move that could draw more international investment. Recent credit-rating upgrades also point to improving public finances.
Business leaders from Türkiye and the United States are targeting $100 billion in trade at a New York investment forum. The three-day TRICON gathering is organised by Türkiye’s Foreign Economic Relations Board (DEİK) and its Türkiye-US Business Council (TAİK).

The European Central Bank has launched Pontes, a wholesale platform linking distributed-ledger market infrastructure to its payment rails for settlement in central-bank money. It is separate from the retail digital euro pilot planned for 2027.

Hong Kong is seeking to reinforce its role as Asia’s hub for family-business succession and cross-border capital allocation. Financial regulators and industry executives said wealthy families are navigating economic uncertainty alongside a generational transfer of wealth. Financial Services and the Treasury Undersecretary Joseph Chan Ho-lim highlighted what he called the city’s unique advantages.

French and Italian sovereign bonds recovered alongside Brent’s descent to slightly above $100, amid talk of a possible meeting between Donald Trump and Iran’s president this week.
The digital euro has made its debut in wholesale financial markets. The European Central Bank hopes to launch a retail version by 2029.
Volkswagen’s problems have worsened after its latest profit warning was followed by its exit from a blue-chip index. Deutsche Bank analysts said the reduction in the operating profit forecast initially appears severe, but cash generation remains intact.

Commodity trading house Trafigura said it has launched Volare Shipping to own and operate 14 supertankers. It plans to sell shares in the business before listing it on Norway’s stock exchange next month.
Volkswagen has been dropped from the Euro Stoxx 50, the eurozone benchmark for its largest listed companies. The change took effect at Monday’s market open, days after Europe’s biggest automaker warned that one-off charges would consume most of its profit this year.
Volkswagen has been removed from the Euro Stoxx 50 after the German company’s shares fell to a 16-year low, dealing another setback to the crisis-hit carmaker.
Japanese group SoftBank is seeking to raise more than $11bn through dollar- and euro-denominated bonds as it invests in the artificial intelligence boom and backs its bet on OpenAI.
Nigerian billionaire Aliko Dangote says building his refinery was his toughest challenge, but he never thought of quitting. The facility has reduced Nigeria’s dependence on imported fuel, while demand for its jet fuel has risen amid disruptions to global energy supplies. Dangote plans to double its capacity and list the company on Nigeria’s stock exchange to create wealth, rejecting claims that he is building a monopoly.

As artificial intelligence enters a more mature phase, Asian investors are seeking clearer proof that the technology can generate revenue and earnings rather than merely offering exposure. Chris Oberoi, Bank of America’s head of Asia-Pacific research, said the key question is whether AI improves productivity and can be monetised, adding that the answer is firmly yes.

Hana Bank, South Korea’s second-largest bank, issued a $100 million foreign-currency bond through Euroclear’s blockchain. The transaction cut settlement from three to five business days to the same day.

A worsening inflation outlook is testing policymakers’ credibility, while rising bond yields should prompt central banks to tighten policy further.
Major cryptocurrencies rose alongside equity futures on Monday. With Brent crude falling for a fourth consecutive session, traders positioned themselves ahead of the Trump-Xi summit later this week; Monero’s XMR gained 13%.

Novo’s stock fell as much as 7% despite the company setting a $23 billion sales target for its blockbuster obesity drugs.

U.S. Treasury yields moved lower Monday after last week’s major interest-rate market moves, as global borrowing costs fell sharply.

Analysts say CATL is unlikely to lose its dominance of China’s electric vehicle battery market over the coming year, citing strong brand recognition and technological advantages. Its shares have nevertheless tumbled as profit-squeezed automakers compete, while Chinese carmakers seek to reduce reliance on CATL; Xiaomi and Li Auto highlighted partnerships with second-tier battery makers in September.

EU countries have net injected more than 45 billion cubic meters of gas into underground storage since April, covering only 67% of the volume needed for the coming winter. Facilities were 69.59% full on September 19, the lowest level for that date since records began in 2011, as the EU rushes to replenish stocks despite high prices.
Russian stocks opened lower on Monday, with the MOEX Russia and RTS indices each falling 0.13% to 2,275.15 and 851.21 points. The yuan rose against the ruble, while by 9:15 a.m. Moscow time the indices’ losses had narrowed to 0.02%.
Bitcoin began the week above $80,000, but US inflation expectations and Japan’s higher interest-rate setting could test its rebound. CryptoSlate’s 90-day model gives a median December price of $95,157, while prediction markets allow for either a move into the mid-$80,000s or another decline. Alternating US Bitcoin ETF inflows and outflows leave the durability of demand unresolved.

Commodities trader Trafigura plans to take its Volare Shipping business public in Oslo, marking the first IPO of one of its businesses. The move comes as the Gulf crisis drives tanker rates to record highs.
Kalshi is facing allegations of fake crypto trading volume after a critic pointed to identical $5,500 trades. The company said its inflated headline volume reflects an industry convention that counts maximum potential payouts rather than cash actually spent, and stressed that public regulatory filings provide absolute transparency.

Four Chinese companies launched Hong Kong IPOs on Monday, seeking to raise up to HK$14 billion (US$1.8 billion) combined. Strong cornerstone-investor backing is offsetting signs of weakness this month, with automated equipment maker RoboTechnik targeting the largest amount at HK$5.18 billion.

Accel-backed Indian fintech platform Moneyview is seeking a valuation of up to 59.85 billion rupees ($623.89 million) in a scaled-down initial public offering scheduled to open for public subscriptions on September 24.
Wayne Cole looks ahead to the day in European and global markets, focusing on claims that more oil is flowing and on how those assessments differ depending on whom one asks.
Global institutional investors and wealth managers are building cash positions at a record pace while quietly pulling back from US and UK equities, as persistent inflation and rising geopolitical risks shape portfolio decisions, according to Marsh Investments. Its survey of 430 asset owners managing US$5.76 trillion found 37.8% planned to raise cash allocations over the next 12 months.

Australian data center operator Firmus plans to launch an initial public offering for institutional investors on October 6, seeking to raise A$7 billion, or about $4.99 billion, according to a term sheet.
Chinese biopharma stocks rose on Monday following a report that the U.S. may continue allowing most drug licensing deals with Chinese companies.

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