Group 1: Core Insights - JPMorgan and Houlihan Lokey are the leading financial advisers for M&A in the TMT sector for 2025, with JPMorgan leading in deal value and Houlihan Lokey in deal volume [1][4] - JPMorgan advised on transactions totaling $435.5 billion, while Houlihan Lokey participated in 94 deals, just short of 100 [1][5] - Morgan Stanley ranks third in deal value with $253.4 billion, followed closely by Goldman Sachs at $237.2 billion and Allen & Company at $235.6 billion [2] Group 2: Transaction Volume - In terms of transaction volume, Morgan Stanley also holds the third position with 59 deals, followed by Goldman Sachs with 49 and Evercore with 43 [3] - JPMorgan advised on 32 billion-dollar deals, including seven mega deals valued over $10 billion, contributing significantly to its lead in deal value [5] - Houlihan Lokey's deal volume was significantly higher than JPMorgan's, which had 65 deals, placing it second in volume [5] Group 3: Data Source and Methodology - GlobalData's league tables are based on real-time tracking of various reliable sources, including company and advisory firm websites [5][6] - A dedicated team of analysts monitors these sources to gather detailed information on each deal, including adviser names [5]

Core Viewpoint - The Indonesian stock market is experiencing its worst two-day performance in 30 years, driven by concerns raised by MSCI regarding the market's investability and potential outflows of up to $13 billion [1][3][5]. Market Performance - On January 29, the Jakarta Composite Index fell by as much as 10%, triggering a 30-minute trading halt, following a previous drop of over 8% on January 28, which also led to a trading suspension [3][4]. - The significant sell-off has primarily affected state-owned banks and companies linked to large corporate groups, raising the risk of a technical bear market if the downward trend continues [3][4]. MSCI Concerns - MSCI has expressed serious concerns about the low free float of stocks in the Indonesian market, with over 200 components having a free float ratio below 15%, which distorts the index and poses manipulation risks [4][5]. - MSCI has announced a suspension of certain index adjustments and will freeze the addition of new constituents until issues related to concentrated ownership are addressed by Indonesian regulators [3][4]. Currency Impact - The Indonesian rupiah has depreciated against the US dollar, recording its largest drop since October of the previous year, as investor confidence wanes [5][6]. Analyst Ratings - Both Goldman Sachs and UBS have downgraded their ratings for the Jakarta Composite Index, with Goldman Sachs warning of potential outflows exceeding $13 billion under extreme scenarios [5][6]. Regulatory Response - The Indonesian Stock Exchange has acknowledged MSCI's feedback and is committed to enhancing market data transparency, with plans to publicly disclose free float data starting January 2, 2026 [6][7]. - The exchange aims to raise the minimum free float requirement from the current 7.5% to between 10% and 15%, with a long-term goal of 25%, although no specific timeline has been set [6][7]. Future Considerations - The Indonesian financial regulatory authority is preparing stricter rules for small business listings, while the stock exchange emphasizes the need for increased liquidity to absorb new stock supply [7].

苏德巍表示，高盛集团看好中国发展前景和经济增长潜力，将继续深耕中国市场，为美中关系稳定 发展发挥积极作用。 央广网北京1月29日消息 据中央广播电视总台中国之声《新闻和报纸摘要》报道，中共中央政治局 常委、国务院副总理丁薛祥28日在北京会见美国高盛集团董事长兼首席执行官苏德巍。 丁薛祥表示，中国经济长期向好，是世界发展稳定可靠的动力源。"十五五"时期，我们将扎实推动 高质量发展，坚定不移扩大高水平对外开放，持续释放超大规模市场潜力，为全球发展增添更多新动 能，也为各国企业提供更多新机遇。欢迎外资企业扩大对华投资合作，更好分享中国发展机遇。 ...

You go over there, and you come over here. Two of Wall Street’s heavy hitters have done a bit of reorganizing in their wealth and asset management units. Goldman Sachs added seven leaders from its wealth and asset business to the company’s management committee, the firm’s top decision-making panel, according to a statement. Meanwhile, BNY announced earlier this week that it would promote multiple executives to accelerate growth in its wealth unit. The moves elevate the wealth and asset management busine ...

南方财经21世纪经济报道记者郑青亭、实习生王馨梓北京报道 他在采访中透露，他去年11月也曾来华访问，当时就发现高盛在华业务"活跃度明显在回升，且增长势 头持续加快"。他说，这次来访看到了同样的趋势。 1月28日，美国高盛集团董事长兼首席执行官苏德巍(David Solomon)在北京接受21世纪经济报道等中国 媒体采访时表示，"全球投资者对中国的关注热情正再度升温。" 同日，苏德巍在北京与中国国家领导人会见时表示，高盛集团看好中国发展前景和经济增长潜力，将继 续深耕中国市场，为美中关系稳定发展发挥积极作用。 ...

同日，苏德巍在北京与中国国家领导人会见时表示，高盛集团看好中国发展前景和经济增长潜力，将继 续深耕中国市场，为美中关系稳定发展发挥积极作用。 0:00 南方财经21世纪经济报道记者郑青亭、实习生王馨梓 北京报道 1月28日，美国高盛集团董事长兼首席执行官苏德巍 (David Solomon) 在北京接受21世纪经济报道等中国 媒体采访时表示，"全球投资者对中国的关注热情正再度升温。" 他在采访中透露，他去年11月也曾来华访问，当时就发现高盛在华业务"活跃度明显在回升，且增长势 头持续加快"。他说，这次来访看到了同样的趋势。 ...

1. 新能源汽车轻量化：单车用铝量激增133% 在"双碳"目标驱动下，全球新能源汽车产业进入爆发期。2026年全球新能源汽车销量预计突破2250万 辆，单车用铝量达187公斤（较传统燃油车增长133%），仅此一项就将拉动400万吨原铝需求。特斯拉 Model Y采用的一体化压铸技术，更将单车用铝量推高至250公斤以上，成为行业标杆。 2026年1月29日，伦敦金属交易所（LME）铝价一举突破3300美元/吨，创下2022年4月以来新高，较 2025年9月低点累计涨幅达27%。这场由新能源需求爆发、全球库存见底、资金情绪外溢共同推动的铝 价狂欢，正在重塑全球工业金属的定价逻辑。本文将从供需基本面、资金博弈、地缘政治三重维度，解 析本轮铝价上涨的核心逻辑，并探讨其可持续性。 长江有色金属网数据显示，长江现货A00伦敦报价每吨24860元，单日上涨600元/吨，现货市场追高力度 在增强，持货商挺价惜售情绪浓烈，但由于高价货源难出，跟随市场逐步调价，早间交投氛围偏暖带动 成交活跃度。 一、新能源革命：铝从"工业配角"到"新经济核心"的蜕变 2. 光伏产业：每GW装机消耗2万吨铝型材 全球光伏装机量持续攀升，2026年 ...

【导读】印尼股市再度触发熔断 MSCI表示，鉴于市场对印尼股票自由流通股数量和整体市场准入的持续担忧，将暂时冻结印尼股票指 数调整，并警告若5月前无改善，可能将其从新兴市场指数降级。 MSCI在声明中指出，印尼市场长期面临流通股比例过低、少数股东控制大量股份以及流动性不足等结 构性问题。该公司被警告，若5月前未能在市场透明度和监管方面取得显著进展，可能将其从新兴市场 指数降级。 印尼交易所上市部门主管I Gede Nyoman Yetna在周三表示，交易所承诺响应MSCI对提升市场透明度的 要求，并将与该公司协作以寻求共识。交易所还计划就合理的流通股比例水平征询市场参与者意见，并 将与KSEI合作，提供更为清晰的股东结构分类数据。 中国基金报记者 李智 印尼股市再度触发熔断。 1月29日，印尼股市开盘后延续昨日暴跌走势，印尼雅加达综合指数跌幅迅速扩大至8%，触发市场暂停 交易。 当地时间1月29日09:26:01，印尼证券交易所交易系统实施了临时交易暂停措施。交易将于印尼中部标 准时间09:56:01恢复，交易时间表不变。 恢复交易后，印尼股市继续下跌势头。截至发稿，印尼雅加达综合指数跌幅扩大至9.64%。 ...

格隆汇1月29日｜高盛集团分析师将印尼股市评级下调至"减持"，并警告称，明晟公司（MSCI）对印尼 市场可投资性的担忧，可能导致该国市场被降级为前沿市场，从而引发逾130亿美元的资金外流。高盛 预测，在印尼被从新兴市场重新分类的极端情况下，跟踪MSCI指数的被动型基金可能抛售高达78亿美 元的资产。如果富时罗素公司重新评估其自由流通量方法和市场状态，可能还会进一步触发56亿美元的 资金外流。 高盛分析师表示："我们预计（未来）还会有更多被动抛售，并将这一事态发展视为一个将阻碍市场表 现的潜在压力。"此外，鉴于该地区的主动型基金经理对印尼市场配置过高，可能降级带来的潜在压 力，加上市场压力上升和流动性可能减少，很可能会促使纯多头投资者调整投资组合。这也可能引发对 冲基金的投机性资金流动。 ...

Group 1 - Jeffrey Gundlach, CEO of DoubleLine Capital, predicts that the Federal Reserve will maintain interest rates unchanged during Jerome Powell's remaining term, expressing a more balanced view on the economic outlook [1] - The Federal Reserve has kept the overnight lending rate unchanged at a range of 3.5% to 3.75%, indicating that economic activity is expanding at a steady pace and that the unemployment rate shows signs of stabilization [1] - Gundlach believes that the interest rate cuts under Powell have reached a bottom, with the current benchmark rate successfully returning to a "balanced range" near the 2-year U.S. Treasury yield [1] Group 2 - Gundlach asserts that maintaining the current policy will be the main theme in the upcoming meetings before Powell's term ends in 2026, advocating for a 30% to 40% allocation in unhedged international stocks due to potential benefits from local currencies appreciating against the dollar [3] - Major investment banks like JPMorgan and Goldman Sachs have differing views on the likelihood of interest rate cuts, with JPMorgan's chief economist suggesting no cuts in 2026, while Goldman Sachs has delayed its forecast for rate cuts to mid-2026 [3][4] - Goldman Sachs expects two rate cuts of 25 basis points each in June and September 2026, arguing that while rates need to remain stable in the short term, there is room for minor adjustments as economic growth picks up and inflation cools [4]