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Citic, China’s biggest listed brokerage, says rebound in stocks is likely to last until end of July

Mainland China’s biggest listed brokerage said on Monday an ongoing rebound in stocks will probably carry on until the end of July, as monetary policy remains accommodative globally and Beijing seeks to stabilise the market before the launch of a new technology board.The People’s Bank of China is likely to lower the reserve requirement ratio for targeted banks mid-July, in line with cuts in interest rates by central banks globally, while financial stability tops the agenda of Chinese regulators… Source link

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Soy milk, toothbrushes and hair conditioner are biggest winners as more Chinese consumers opt for premium brands, says study

What do soy milk, electric toothbrushes and hair conditioner have in common? They are among the biggest beneficiaries of China’s consumption upgrade, according to global consultancy Bain & Company.The shift in spending by China’s expanding middle class towards more expensive, premium goods has led to a large increase in sales of these and other items, the firm said in a report based on research by Kanta Worldpanel China, which tracks of 40,000 Chinese households’ spending.Soy milk, made from… Source link

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China’s oldest brokerage Shenwan Hongyuan accuses cornerstone investor of defaulting on share payments in Hong Kong’s biggest IPO of 2019

China’s oldest securities firm Shenwan Hongyuan has named and shamed one of its cornerstone investor for failing to pay for stock subscriptions made during its recent initial public offering (IPO) in Hong Kong.The brokerage said China Saite, a construction services firm, had defaulted on payments for almost 65 million shares during its US$1.16 billion IPO, the biggest in Hong Kong so far this year. It said it was considering legal action against the company.China Saite agreed to buy 64,193,600… Source link

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Singapore exports suffer biggest fall in three years as exposure to Chinese economy, US trade war bites

Concerns over Singapore’s exposure to the Chinese economy mounted on Monday after new data showed that its non-oil exports fell by 15.9 per cent in May, the largest decline for more than three years.Exports to China and Hong Kong slumped by 23.3 per cent and 24.8 per cent from a year earlier respectively, showing Singapore’s vulnerability to fluctuations in regional trade as an important trade and shipment hub for Asia-Pacific.Many of the goods bound for China from other nations pass through… Source link

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Hang Seng Index drops by the most in five weeks as Hong Kong’s biggest protest rally in decades finds city on edge

Hong Kong stocks fell by the most in five weeks, as traders pocketed their profits from a recent run-up in prices after the city’s police fired tear gas on demonstrators protesting a controversial extradition proposal.The Hang Seng Index fell 1.7 per cent to 27,308.46, its biggest daily decline since a 2.4 per cent plunge on May 9 amid escalating tensions between the United States and China over trade.“The main issue the market is facing is still the Sino-US trade tussle. We have not seen the… Source link

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Singapore 

18 play zones at Singapore’s biggest indoor mall playground Kiztopia; here are the best, Lifestyle, Singapore News

Indoor play areas are a safe haven for parents and children, providing much-needed respite for adults reaching the end of their tether. Of course, it’s a delight to kids as well.   Kiztopia, touted as Singapore’s largest indoor mall playground, is parent company Baby Heroes’ first foray into Southeast Asia outside of China, where it has four outlets. The 18,000 sq ft playground is set to open its doors on June 15. With 18 play zones, there’s bound to be something for everyone. Although some of the ‘zones’ are smaller than imagined, like the AR music…

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Chinese stocks post biggest gain in month on fiscal stimulus to shore up growth

China’s stocks climbed the most in a month on signs policymakers were ramping up fiscal tools to hold in check a decline in growth just before the release of key economic data.The Shanghai Composite Index rallied 2.6 per cent, or 73.59 points, to 2,925.72 on Tuesday, its biggest gain since May 10. Hong Kong’s Hang Seng Index rose 0.8 per cent to 27,789.34.Signs have been mounting that Beijing has been stepping up efforts to arrest a deceleration in economic growth. The finance ministry said on… Source link

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Wang Jun, who chaired one of the world’s biggest asset-owning state conglomerates at Citic Group, dies at the age of 78

Wang Jun, the son of one of communist China’s founding elders and a former chairman of the country’s largest state conglomerate, died on Monday, aged 78.Wang died at 10.56pm on June 10, according to a report by state-owned news outlet Thepaper.cn in Shanghai, citing unidentified sources and without elaborating. Xinhua News Agency, the government’s mouthpiece, has yet to report the news.Calls to Citic’s head office in Beijing were unanswered. The company has yet to release a statement.Wang, who… Source link

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With e-commerce booming, investors should make space for Asia-Pacific’s biggest warehouse landlord

This is hardly a propitious time for what is expected to be the largest initial public offering on Hong Kong’s stock exchange so far this year, and the biggest real estate IPO since the debut of Dalian Wanda, the mainland developer, in December 2014. The Hang Seng Index is down more than 10 per cent since May 3 as part of a broad-based sell-off in equity markets, with traders fretting about the economic impact of the renewed escalation in the US-China trade war. Yet the prospectus for ESR… Source link

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China 

China’s May rare earth export falls as supply tapers off amid a worsening trade war with the biggest buyer of the elements

China, the world’s largest refiner and supplier of rare earth, cut back on overseas shipments of the elements in the first five months of 2019, amid growing calls by nationalists to use the country’s stockpile as a tit-for-tat response in its trade war with the United States. Exports of rare earth elements fell 16 per cent in May from a month earlier to 3,640 tonnes, according to the General Administration of Customs data. Overseas shipments for the first five months of 2019 fell 7.2 per cent… Source link

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