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Fed’s dovish policy will not erase carry trade risks in Hong Kong dollar, analysts say

The Hong Kong dollar’s rebound on Thursday after the US Federal Reserve surprisingly decided to halt its interest rate increases will only be temporary because traders will continue to exploit the gap between Hong Kong and US market interest rates trade activities conducted by traders as global central banks turn to similar looser monetary policies to combat the global economic slowdown, analysts said.The US dollar fell against Asian currencies, including the Hong Kong dollar, following the Fed… Source link

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Singapore 

‘Don’t give up!’ Messages pour in after fire at 80-year-old Tampines temple, engineers to carry out checks on Tuesday, Singapore News

SINGAPORE – The fire that destroyed the altar and several statuettes at Poh Ann Keng Taoist temple in Tampines on Saturday (Feb 9), broke out at 3am, the temple said in a Facebook post. In the post uploaded at about 10.30pm on Saturday, the fifth day of Chinese New Year, Poh Ann Keng also thanked those who had expressed concern and offered support to the temple. A Poh Ann Keng spokesman told The Straits Times that engineers will be conducting checks on the structure of the temple on Tuesday. “We…

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China 

Donald Trump tweet rebutted? China vows to carry out ‘concrete’ terms of trade truce

The Chinese government will implement the “concrete” terms of the trade truce deal agreed on Saturday by Chinese President Xi Jinping and US President Donald Trump, with steps to carry out the agreement coming “the sooner, the better”, the Chinese Ministry of Commerce has said. “The meeting [between Xi and Trump] was successful. We are confident in implementing [its outcome],” a spokesman for the ministry said in a statement on the ministry’s website. The spokesman did not elaborate on what exact terms had been agreed by the two leaders. The…

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Brexit is a disaster, but Theresa May is magnificent in her ability to keep calm and carry on

I have, for over a year, studiously avoided the British national catastrophe we call Brexit. As one of Theresa May’s derided “citizens of nowhere”, I have kept my counsel, and watched in sadness over one of the most brutally challenging and counterproductive political negotiations of our lifetime, pondering over the perverse shortcomings of democratic politics that have facilitated such self-harm. I have put aside the moments of naive wishful thinking that have, from time to time, suggested that the nation of my birth might somehow snap out of its consensus…

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Global 

Keep calm and carry on amid the current state of the trade war, for time is on China’s side

Over the weekend, Donald Trump’s trade team invited Beijing to fresh trade talks. Almost simultaneously, tweets from the White House cast doubt on the talks. Is this “good cop, bad cop” tactics? Or routine erratic signalling? How is one to respond, given how much the world economy is at stake? Having mulled this conundrum carefully over the weekend, and without any attempt to discover what Beijing’s leaders might do, I have decided to imagine a secret internal memo from Liu He to Xi Jinping and the Beijing trade team. It…

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China 

China pledges to carry on investing globally, even as wealthy nations shun its money

China will ensure steady outbound investment flows even as countries in North America, Europe and Asia-Pacific enact restrictions on what Chinese investors can buy in their countries, the government said Friday. The US has singled out China’s overseas investment in its trade war complaints, arguing China has used overseas investments to acquire critical technologies. In recent months, Germany, France, Britain, Australia, New Zealand, Japan, and Canada have all joined an unprecedented global backlash against Chinese investment, citing national security concerns. Watch: China ploughs billions into Africa Speaking at a press…

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