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Rising uncertainty over trade war could weigh on bottom lines at Hong Kong’s banks, KPMG says

Rising interest rates helped boost Hong Kong banks as the city’s economy slowed last year, but heightened uncertainty from an escalating trade war between the United States and China could weigh on their performance in 2019, according to KPMG.Operating profit before impairments at the city’s licensed banks rose 15 per cent to HK$268 billion (US$34 billion) last year, from HK$234 billion in 2017, the accounting giant said. Total revenue at Hong Kong’s lenders increased 11.2 per cent to HK$445… Source link

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Vietnam 

Shares recover on bottom fishing – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Investors watch stock movements at the Bảo Việt Securities Co. VNS Photo Trương Vị HÀ NỘI Vietnamese shares recovered yesterday from Monday’s sharp fall which sent stocks down to attractive prices, thus triggering investors to buy in. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange was up 0.50 per cent to close at 951.16 points. The VN-Index lost 1.40 per cent on Monday. More than 162.3 million shares were traded on the southern bourse, worth VNĐ3.4 trillion (US$143 million). Some large-caps stocks inched up thanks to bottom purchasing…

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China 

Explainer: China’s manufacturing outlook weakens showing economic slump is yet to hit bottom

China’s manufacturing outlook took a sharp downturn in May, suggesting that the economic slump has yet to reach bottom, analysts said.The manufacturing purchasing managers’ index (PMI) is a gauge of sentiment among factory operators and is based on a survey, the responses to which are aggregated into a number. A number above 50 signifies a positive economic outlook, while below 50 means sentiment is in contraction.May’s figure was 49.4, the first time the manufacturing PMI has slipped into… Source link

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Money 

China’s securities regulator lays out his bottom line for corporate governance to undergird markets for external shocks

China’s securities regulator has reiterated his resolve to crack down on malfeasance, outlining four types of corporate activities that breach the bottom line of good governance, as the country’s stock market reeled from a week of roller-coaster swings.“Corporate governance forms the pillar and the foundation of the capital market, without which a solid financial system cannot exist,” said the chairman of the China Securities Regulatory Commission (CSRC) Chairman Yi Huiman, during an event by… Source link

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Ride hailing giant Uber raises US$8.1 billion in US IPO priced near bottom of range in bumpy week for markets

Uber Technologies raised US$8.1 billion in its initial public offering after pricing shares near the bottom of their marketed range.The ride-hailing company sold 180 million shares for US$45 each, according to a statement on Thursday. It had marketed them for US$44 to US$50 apiece.Based on the amount of stock outstanding after the offering, the IPO price gives San Francisco-based Uber a market value of US$75.5 billion, just below its last private market value of US$76 billion. The fully diluted… Source link

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As rental yields race to the bottom among global cities, sovereign bonds may offer investors better returns on their capital

The rental yield of commercial offices in the world’s major central business districts have declined to record lows, and are unlikely to rise, as global leasing charges lag behind investments and borrowing costs.Hong Kong, the world’s most expensive urban centre to live and work in, has the lowest yield at 2.43 per cent, according to a Savills survey of 25 cities around the world. Frankfurt, Tokyo and Berlin are also near the bottom of the list, with yields at 2.9 per cent, Savills said.“With… Source link

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Property 

China new home prices grew at their slowest pace in 10 months in February, but property market expected to bottom out

Prices of new homes in mainland China grew at their slowest pace in 10 months in February, especially in smaller cities, according to the country’s National Bureau of Statistics.Across 70 cities monitored by the government, prices edged up by 0.53 per cent last month, their slowest pace since April 2018 and down from 0.61 per cent in January, according to a Bloomberg calculation using National Bureau of Statistics data.“Since property market sentiment cooled last August, it will take a while… Source link

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China 

China manufacturing stabilised in February, but ‘too soon to call bottom of current economic cycle’

The pick up in the metric was somewhat at odds with the official manufacturing PMI released by the National Bureau Statistics on Thursday, which dropped to 49.2 from 49.5 in January, meaning that the contraction of China’s factory activity intensified last month. Photo: Reuters Source link

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China’s economy hasn’t hit bottom yet. The good news is that it will in the next quarter

A mixed bag of macro data so far in 2019 suggests that while the growth momentum in the Chinese economy remains weak, there is a glimpse of light at the end of the tunnel.To be fair, the volume of data that may be used to gauge the economic pulse is not great at the moment. Given the seasonal distortion of the Lunar New Year, the National Bureau of Statistics has as usual decided to postpone the release of key January activity data until mid-March. This creates a hiatus in the…

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Vietnam 

Shares end the week up on bottom purchases – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Shares ended Friday up thanks to bottom purchasing increasing toward the end of  trading session as selling pressure lessened. The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged up 0.39 per cent to close at 958.59 points on Friday. It was down 0.24 per cent at 954.82 points on Thursday. The minor HNX-Index on the Ha Noi Stock Exchange lost 0.03 per cent on Friday to close at 107.14 points. It fell 0.60 per cent to 107.10…

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