CHINA SOUTHERN PLANS TO RAISE 15B YUAN IN A-SHARE PLACEMENT

China’s securities regulator has instructed domestic brokerages to defer a larger share of staff bonuses to curb outsized payouts as market recovery boosts compensation, people familiar with the matter said. The China Securities Regulatory Commission has raised the deferral ratio for middle and senior management and top investment bankers to 40% from 20%, they said. Some firms, including Citic Securities, have already complied. The move comes as top-performer bonuses at some brokers have risen as much as 50% year-on-year after prior declines. The CSRC said it is strengthening long-cycle performance assessment and deferred pay for key personnel.

BRENT CRUDE RISES ABOVE $105 PER BARREL, UP OVER 1% INTRADAY WTI CRUDE BREAKS ABOVE $103 PER BARREL, UP 1.58% INTRADAY