Global 

Singapore’s economic downturn continues as US-China trade war wreaks havoc on Asia export hubs

Singapore’s exports plunged to a six-year low in June, the latest in a series of brutal indicators showing China’s slowdown and the trade war with the United States are wreaking havoc on the economies of Asia’s trade hubs.The city state’s economy is considered a bellwether for the region as it is a transshipment hub, meaning that the goods that pass through its ports are generally bound for other final destinations. So if trade in Singapore is weak, it usually points to slowing demand elsewhere… Source link

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Home 

Hong Kong as a financial centre could drown if ‘river water’ from China continues to rise

Former Chinese president Jiang Zemin famously said that well water and river water do not mix. Jiang’s point, made soon after the 1989 Tiananmen Square killings, was that Hong Kong shouldn’t try to pollute the mainland with ideas about democracy. Cadres from up north, in turn, wouldn’t try to inflict communism on postcolonial Hong Kong. Of course, the idea that Hong Kong would be as separate from China after 1997 as it was during British colonialism was never realistic. Now, although Hong Kong… Source link

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China 

Bull run in China’s home prices continues for 50 straight months in June, but growth slows as curbs kick in

China’s new home prices rose for 50 months in a row in June, but the pace of growth slowed as a range of cooling measures initiated by the government kicked in.The average cost of a new home increased by 0.6 per cent in June, slowing from 0.71 per cent jump in May and 0.62 per cent in April, according to calculations based on National Bureau of Statistics data released on Monday morning.“The government has launched policies targeting developers one after another, which have cooled down the… Source link

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China 

China’s Anbang dismantling continues with new state-owned firm taking over insurance assets

China’s dismantling of the Anbang Insurance Group has continued with the newly established state-owned Dajia Insurance Group taking over its property and casualty insurance assets, the Chinese Banking and Insurance Regulatory Commission said on Thursday.Dajia is a joint venture between the China Insurance Security Fund, Sinopec Group and SAIC Motor, with a total investment of 20.36 billion yuan (US$3 billion), the Chinese Banking and Insurance Regulatory Commission (CBIRC) confirmed. It also… Source link

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Vietnam 

Gold continues to climb on global volatility – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers at a gold store in Hà Nội. Local gold prices continue to shoot up on Wednesday morning. — VNA/VNS Photo Đức Duy HÀ NỘI – Domestic gold prices shot up on Wednesday after gold hit a six-year high again on the global market. In the early morning, Sài Gòn Jewelry Joint Stock Company (SJC) increased its selling price by more than VNĐ1 million to VNĐ39.47 million (US$1,694) per tael, or 1.2 ounces. Its buying price was also up VNĐ800,000 per tael to VNĐ39.05 million. The prices slowed slightly…

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Global 

As trade war continues, are the US and Chinese economies heading for a messy divorce?

This is the first of four stories examining important issues ahead of the meeting between Chinese President Xi Jinping and US President Donald Trump at the G20 leaders summit on June 28-29 in Osaka, Japan.Like many Americans who manufacture in China, Daniel Krassenstein will be watching Xi Jinping’s meeting with US counterpart Donald Trump on the sidelines of the G20 meeting in Osaka next week very closely.Procon Pacific, Krasserstein’s company, makes 40 per cent of its industrial packaging… Source link

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Home 

Outlook for Tokyo’s property market positive as it continues to benefit from investments ahead of the 2020 Olympics

Tokyo, the world’s largest metropolitan city, is one of the most interesting commercial real estate markets, despite being arguably one of the most difficult to transact.The positive drivers underlining core investment interests remain: real estate fundamentals, as well as robust capital market sentiment and financial conditions. The city will continue to benefit from the boost to domestic demand in the run up to the 2020 Olympics and associated infrastructure investment and in turn,… Source link

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Property 

Seller incurs US$2.3 million, 50 per cent loss on unit at Seascape as Singapore’s Sentosa Cove continues to struggle

The loss-making deals continue at Sentosa Cove, a billionaire’s playground in Singapore that has become a lesson about the pitfalls of property speculation.The seller of a 2,336 square foot, three-bedroom home at Seascape incurred a S$3.17 million (US$2.32 million) loss on May 23, the most unprofitable transaction in Singapore during the week of May 21 to 28.The ground-floor unit was one of the first to be purchased when the seafront condo in Sentosa’s residential enclave was first launched for… Source link

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China 

US investment in China in sharp decline, as trade war continues to hamper business

American direct investment in China grew by 24.3 per cent in the January to April period compared with the same period last year, a sharp deceleration from the 71.3 per cent growth in the first quarter of 2019, the Chinese Ministry of Commerce announced on Thursday.The deceleration implies a sharp decline in foreign direct investment (FDI) in April, though the ministry did not release figures for the month alone.The decline in yuan terms comes as the ongoing trade war between the world’s two… Source link

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