Top 5 Stocks To Watchout and Trade Today – January 28, 2022

Top 5 Stocks To Watchout and Trade Today – January 28, 2022

Best Stocks to Buy Today

TOP 5 STOCKS TO WATCHOUT:-

1.CITI GROUP:Hong Kong’s markets watchdog has fined a Citigroup unit HK$348.25 million ($44.68 million) for what it called serious regulatory failures over client facilitation activities, attributing the fault to former senior management at the bank.

The Securities and Futures Commission said Citigroup Global Markets Asia Limited had allowed trading desks under its Cash Equities business to make misrepresentations to institutional clients when executing facilitation trades from 2008 to 2018.

“This resolves an issue relating to Citigroup Global Markets Asia Limited activities dating back to 2018. We have fully cooperated with the SFC’s investigation and have implemented significant remedial measures to strengthen our compliance and internal controls,” a Citi spokesman said in an emailed statement.

2.H&M: Swedish fashion group H&M drew a line under the pandemic on Friday, reporting a bigger than expected jump in quarterly profit and hiking investments with the aim of doubling sales by 2030.

Shares in the world’s second-biggest clothing retailer leapt 5% in early trade after it said it would double investments in 2022 to around 10 billion Swedish crowns ($1.1 billion) to help achieve its new target.

Spending will focus on areas including technology, the supply chain, renewable energy and sustainable materials, it said.

“We ended the year strongly, with sales back at the same level as before the pandemic and with profitability better than it has been for several years,” CEO Helena Helmersson said.

 3.AIR ASIA:-Malaysia’s AirAsia Group Bhd said on Friday it had changed its name to Capital A Bhd to reflect its growing portfolio of businesses beyond the core budget airline.

The airline business has been hard-hit during the pandemic due to strict travel rules in Asia, leading Malaysia’s stock exchange to this month classify the firm as financially distressed though it has been raising funds to bolster its balance sheet.

The group proposed changing its name on Jan. 3.

Capital A has been investing heavily in payments business BigPay, logistics arm Teleport and its mobile Super App to gain other sources of revenue, though they remain in growth phases and were loss-making in the quarter ended Sept. 30, 2021.

“Over the past two years we have spent the downturn in flying building a solid foundation for a viable and successful future, which is not solely reliant on airfares alone,” Capital A Chief Executive Tony Fernandes said in a statement.

The airline business will retain the AirAsia brand, which is well known in Asia, he added.

4.TOYOTA: Japan’s Toyota Motor  Co said on Friday its vehicle sales rose by 10.1% last year, making it the world’s biggest carmaker for a second straight year and putting it further ahead of its nearest rival, Germany’s Volkswagen AG .

The carmaker said sales were 10.5 million vehicles in 2021, including those by affiliates Daihatsu Motors and Hino Motors.

Carmakers have been forced to cut output because a shortage of semiconductors during the coronavirus pandemic disrupted supply chains, boosting competition for the key component among makers of consumer electronic devices.

However, the Japanese company has weathered the pandemic better than most other carmakers because its home market, Japan, and parts of Asia, have been less affected than Europe.

Toyota, which releases third-quarter earnings on Feb 9, has said it is likely to fall short of a production target of 9 million vehicles in the business year that ends on March 31 because of disruptions linked to COVID-19.

5.CREDIT SUISSE :-Credit Suisse  has announced changes to its bonus scheme for senior staff after what it described as a “difficult” 2021.

The bank, which has been hit by a string of scandals and losses, said it will “reduce the portion of discretionary variable compensation that is deferred.”

The changes apply to staff who earn more than $250,000, the bank said in a memo seen by Reuters and confirmed by the company.

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