China wants its IPO money back
Beijing is bringing offshore listings and their funds back within reach
Topic
Opinion
From the desk of Firefly's editors
Macro governance, not AI, is the real story
AI-linked equities have set the tone for Asian markets in 2026. But the more important story is about governments.
Reform is a dish best served cold
Against a backdrop of rising geopolitical tensions with China, US regulators are mulling higher standards for "foreign private issuers". The move seems as much about retribution as reform.
Keep your eyes on the prize
In May 2026 some rusty old chains constraining collective engagement of companies in Japan will be removed. Though not perfect, the new rules mark an important turning point in regulatory policy. Savvy investors will keep their eye on the big picture and not tie themselves in knots over minutiae.