China 

Taiwan M&A activity hits 15-year low as US-China trade war rocks business climate

Merger and acquisition activity in Taiwan has hit a 15-year low as the US-China trade war and a global recession have spooked investors who fear the business climate is deteriorating.According to data by Dealogic, the number of M&A deals so far this year dropped 42 per cent from the same period in 2018 to 71 while the transaction value of US$2.5 billion was the lowest since 2004.Ongoing trade tension between the world’s two largest economies and a global economic slowdown have worsened… Source link

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Home 

Chinese M&A activity to be dominated by domestic deals amid heavier scrutiny abroad, PwC says

Domestic deals by corporate buyers and restructuring at Chinese banks will drive mergers and acquisitions (M&A) activity in the country for the rest of this year, according to a report by Big Four accounting firm PwC released on Monday. Outbound activity, meanwhile, will continue to be squeezed by increased scrutiny globally of the sale of strategic assets to foreign buyers.David Brown, deals leader for Asia-Pacific at PwC, said with China focusing on stimulating its domestic economy, and a… Source link

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Home 

Trade war thumps confidence, sending acquisition activity in Asia to a six-year low in the half, Mergermarket data shows

The value of mergers and acquisitions shrank by 36 per cent in Asia during the first six months of 2019 to a six-year low, led by declines in China-related deals as the US-China trade war and increased regulatory scrutiny stifled deal making.The value of M&As fell to US$241 billion during the first half in Asia excluding Japan, the lowest since 2013, according to data by Mergermarket. Declines picked up pace in the second quarter, falling by nearly a third to US$97 billion through 743… Source link

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China 

China factory activity contracted in June as US trade war tariff increase in May starts to bite

Chinese factory activity fell to its weakest level in five months in June, a private survey released on Monday showed, pointing to continued downward pressure on the economy due to the trade war with the United States.The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI), a gauge of sentiment among the country’s factory operators which tends to include more small, private sector firms, fell to 49.4, down from 50.2 in May and below economists expectations of a smaller drop to 50.1 in… Source link

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China 

China’s manufacturing activity remains sluggish in June, as higher US tariffs kick in

China’s manufacturing industry remained weak in June, with the official purchasing managers’ index suggesting factory owners are still downbeat about their prospects as the pressures of the trade war continue to mount.Published by the National Bureau of Statistics on Sunday, the purchasing managers’ index (PMI) for the month, was unchanged from May at 49.4, marginally below the mean forecast of 49.5 in a poll of economists by Bloomberg.The PMI is a gauge of sentiment among factory operators,… Source link

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European investors intensify M&A activity in China while US firms keep low profile amid trade war

Investment patterns in China are changing.Interest from European companies in acquiring Chinese assets, including state-owned enterprises intensified last year, while the US-China trade war made American firms cautious and also curtailed outbound investments by Chinese companies, according to investment bankers.“As China continues to seek to attract foreign investment in larger SOEs which are undergoing reforms to make them more competitive, that creates many opportunities for foreign investors… Source link

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China consumer market ‘too big to ignore’, to attract domestic and foreign M&A activity amid trade war

Deal making in China’s retail sector will thrive as economic uncertainty surrounding the US-China trade war and top-down stimulus to boost consumer spending push Chinese companies to focus on the domestic market, analysts have said.These same factors could also attract multinational companies to step in and fill gaps left behind by US players, and enhance their offerings in the mainland China market.“One of the implications of [the trade war] is that it becomes doubly important for China to… Source link

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Singapore 

Lazada customer alerts site of allegedly fraudulent activity after receiving a key ring instead of keyboards , Singapore, Digital News

A disgruntled Lazada user has gone onto Facebook to decry the online shopping site’s reliability after he allegedly (1) failed to receive the items he ordered and (2) failed to get a refund for a product that was wrongly sent. “It is no longer safe,” declared Howard Toh about shopping on Lazada in a Facebook post that has since gone viral after he recounted his experience last Saturday. According to Toh, he purchased three sets foldable wireless keyboards off Lazada — items that didn’t arrive at all. What he got…

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China stocks rise in morning trading despite disappointing April manufacturing activity data

China stocks rose in morning trading on Wednesday despite disappointing April manufacturing activity data, with pork and chicken producers leading the advance.The Shanghai Composite Index was up 0.4 per cent at 3075.74 by noon close, on track to end a three-session losing streak, in which the index has shed 3 per cent.The benchmark looks set to record its first monthly loss this year, after Chinese markets entered consolidation mode in April, having led globally with a 24 per cent rally in the… Source link

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Investment 

Standard Chartered first quarter profit up 2 per cent as weak markets, lower wealth management activity weigh

Standard Chartered said on Tuesday that its profit rose 2 per cent in the first quarter, as a weak market environment and lower wealth management activity weighed on its results and trading revenue at its closest banking rivals.The bank, one of three lenders authorised to issue Hong Kong’s currency notes, reported a profit of US$818 million in the first quarter, compared with US$803 million in the same period a year ago.In the quarter, Standard Chartered took a previously announced charge of US… Source link

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