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Hang Seng Index rises to highest level in six weeks as trade war angst eases

The Hang Seng Index rose 1.8 per cent to close at 27,159.06, its highest level since August 1, as investors’ outlook on the US China trade war improved, prompting them to snap up banking and property stocks.The gains in Hong Kong on Wednesday contrasted with the CSI 300, which tracks blue chips listed on Shenzhen and Shanghai bourse. It closed down 0.7 per cent at 3,930.1, while the Shanghai Composite Index finished down 0.4 per cent at 3,008.81.China on Wednesday unveiled a list of 16 types of… Source link

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Beijing eases short-term liquidity for smaller financial firms, orders fifth brokerage in a week to lift fundraising quota

Shenzhen-based brokerage GF Securities said on Monday it had been asked to lift the quota on short-term fundraising by Beijing, a move that may boost lending to smaller financial firms.“The company has received a notice from the People’s Bank of China [PBOC] to improve the upper limit to 17.6 billion yuan [US$2.6 billion] for outstanding commercial bill issuance,” it said in a filing to the Shenzhen Stock Exchange. Commercial bills are a key form of short-term fundraising in the interbank… Source link

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China’s new home prices approach stall speed, as rate of appreciation eases to slowest in nine months

China’s new home prices rose in January at the slowest pace in nine months, as downbeat sentiment and property curbs weighed on the market.Prices of new homes rose by 0.61 per cent in January on month across 70 cities monitored by the government, according to calculations by Bloomberg of data released by the National Bureau of Statistics. The rate of growth is lower than the 0.77 per cent gain recorded in December, which ranked as the slowest clip since April 2018.“The price growth slowed as… Source link

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Vietnam 

Gov’t eases conditions for offshore indirect investment – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Securities companies will need to demonstrate three consecutive years of profits to be eligible for an offshore indirect investment licence. — Photo SSI Viet Nam News HÀ NỘI — The Government has issued a new decree to facilitate business conditions for offshore indirect investment, credit information activities and intermediary payment services under the management of the State Bank of Việt Nam (SBV). Under Decree No. 16/2019/NĐ-CP, which will take effect on March 20 this year, securities, fund management and insurance firms will be permitted to register for an…

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Guangzhou further eases housing restrictions, sets stage for more mainland China cities to loosen curbs

The mainland Chinese city of Guangzhou, one of the country’s largest, further eased housing restrictions on Monday, five days after it scrapped a ban on sales of apartments to individuals. The city authorities said in a document that Guangzhou residents who had paid towards a housing provident fund policy could withdraw money for buying homes for living in nearby cities such as Foshan and Dongguan. Guangzhou becomes latest mainland China city to ease curbs on apartment sales Such a fund is meant to help middle and low-income residents buy homes.…

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China 

China eases bond issuance rules for top rated firms in bid to boost economy amid trade war with United States

China’s economic planner has relaxed rules for top rated firms seeking to raise funds in the domestic bond market, a move that alleviates refinancing concerns for property developers and local government financing vehicles. The guidelines from the powerful National Development and Reform Commission (NDRC) are the latest measures to support the development of China’s bond markets as authorities aim to wean companies off relying exclusively on bank lending, while also easing funding conditions for private firms. The powerful National Development and Reform Commission (NDRC) announced last week explicit financial criteria…

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China 

China eases up on winter smog fight as it battles American trade war headwinds

China will be less severe with its smog curbs this winter as it grapples with slower economic growth and a trade war with the United States, according to a government plan released on Thursday. Instead of imposing blanket bans on industrial production in the Beijing-Tianjin-Hebei area as it did last winter, the Ministry of Ecology and Environment said it would let steel plants continue production as long as their emissions met standards. Targets for overall emissions cuts have also been revised down. In the next six months, 28 cities in northern…

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