Sumitomo Mitsui Banking Corporation

That's how the Wall Street markets fared.

Let's take a look now at what it means for Asia with Jeff Ng, Head of Asia Macro Strategy at Sumitomo Mitsui Banking Corporation.

Jeff, good morning to you.

So that Wall Street rally overnight led by chip makers, as always, has been the case for most of this year.

Thank you.

Jeff Ng there in the studio with us.

He is Head of Asia Macro Strategy, Sumitomo Mitsui Banking Corporation.

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In January of 1991, a scandal breaks.

A trading company called Itoman had bought art at inflated prices with money from Sumitomo Bank.

In January of 1993, Christie sold Itoman's collection for $2.7 million.

The company had paid $520 million.

I know Charlotte has diversified its employment base significantly, but we are still a really strong financial sector.

And, you know, Companies like SMBC that's moving their headquarters here and adding 2,000 jobs, that just speaks to the quality of the workforce.

And part of the reason why they did that was lower operating costs, as well as the existing talent base that they can use to kind of like staff up their operations.

So we continue to remain a financial city.

An international professional pickleball association has been formed, prize money has soared, and plans are being pursued to include the sport as an Olympic event.

A Japanese company has started developing players who can compete at the world level.

But infrastructure in Japan is not keeping pace with the spread of pickleball.

The Pickleball Japan Federation, a governing body established in April, has received repeated requests from schools, businesses and local communities to set up dedicated pickleball courts.

But it wasn't the ride that annoyed him.

It was all the children's clothes he had to carry.

Wouldn't it be nice if we could come to the nursery school with a smile, holding hands with our children and chatting along the way? he told a contemporary at his company, Sumitomo Mitsui Banking Corporation, who also had young children.

We, parents, are rushing them and scolding them into tears all because of our circumstances.

It was all the children's clothes he had to carry.

Wouldn't it be nice if we could come to the nursery school with a smile, holding hands with our children and chatting along the way? He told a contemporary at his company, Sumitomo Mitsui Banking Corporation, who also had young children.

We, parents, are rushing them and scolding them into tears all because of our circumstances.

We have too little time to spare.

Let's come to Yes Bank, particularly its shareholder.

the Japanese shareholder, Sumitomo Mitsui, which owns almost a quarter of the bank, and it's invested a lot of money in the bank to, you know, shore up its fortunes, etc.

Do you think it feels shortchanged?

Well, I don't exactly think, for two reasons.

I mean, there's so many incredible entrepreneurs that have literally created some of the world's largest aircraft leasing businesses.

I mean, the top three leasing companies are Aircraft, SMBC, Airbus, And Avalon, those three businesses are Irish, essentially headquartered.

Aircap is Irish founded.

Avalon is Irish founded.

SMBC is linked with Japan.

But again, their headquarters sit in Dublin and the CEO is Irish.

And that to me is fascinating.

The most useful signal today is what those latest closings say about lender appetite as desks reopen.

On the bank side, Sumitomo Mitsui Banking Corporation provided Aries Real Estate with a $107.5 million refinance for two apartment properties, totaling 599 units in Richardson, Texas and King of Prussia, Pennsylvania.

The assets were built in 2017 and 2019, and CBRE arranged the financing.

This is a familiar bank's sweet spot, an institutional sponsor, relatively new stabilized properties, and enough scale to support a broader relationship.