China 

China tipped to start rate cutting ‘road map’ as early as next week, as economic slowdown deepens

As pressure builds on China’s central bank to contain the impacts of the ongoing US trade war and a broad-based economic slowdown, analysts are tipping it to start an extended cycle of interest rate cuts as early as next week, through its new Loan Prime Rate system.This would bring the People’s Bank of China (PBOC) into line with a global monetary easing cycle led by the US Federal Reserve and the European Central Bank and follows the PBOC’s decision on Friday to pump 900 billion yuan (US$126… Source link

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US-China cross-border investments hit a 5-year low as decoupling deepens amid trade war

American and Chinese investors’ appetite to deploy capital into each other’s projects and deals has dropped to a five-year low as trade tensions propelled the decoupling of the two economies.Investment between the United States and China plunged 18 per cent to US$13 billion in the first six months of 2019 and reached the lowest level since the first half of 2014, according to a report released on Thursday by the Rhodium Group and the National Committee on US-China Relations.The drop reflected… Source link

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Hong Kong’s housing market doomed to retreat as trade war deepens, says Credit Suisse

The escalation of the US-China trade war could derail the recent upbeat outlook on Hong Kong real estate, with Credit Suisse predicting that all segments of the property market will see a decline in prices this year.The Swiss bank said credit conditions could tighten further as banks become more reluctant to lend, leading to a rise in the Hong Kong interbank offering rate (Hibor), the interest rate at which banks lend to each other.“As the trade tensions escalate, we’re likely going to see… Source link

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Pansy Ho deepens alliance with Hong Kong’s Fok Foundation to strengthen grip on Macau casino operator SJM Holdings

Shun Tak Holdings, founded by Macau tycoon Stanley Ho Hung-sun, has deepened its alliance with one of Hong Kong’s wealthiest families to strengthen its control of the largest holder of casino licences in the former Portuguese colony, giving managing director Pansy Ho Chiu-king the upper hand in a family tussle for the magnate’s gambling empire. Pansy Ho, the eldest of the tycoon’s five children with his second wife Lucina Laam King Ying, signed an agreement with the Fok Foundation, Lanceford and Interdragon to maintain STDM’s 54 per cent stake in…

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China 

China’s industrial profit growth slows to five-month low as trade war deepens

Profit growth at China’s industrial firms slowed to a five-month low in August, fanning concerns about faltering domestic demand in the world’s second-largest economy as escalating trade frictions with the United States cloud its outlook. Demand for raw materials and industrial products has taken a hit this year as business expansion plans slowed, restrained by tighter funding due to China’s multi-year campaign to curb corporate debt and crack down on risky borrowing. A softer property market has also sapped construction-related demand. Industrial profits rose 9.2 per cent in August to…

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