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Stocks Blog: Traders on edge ahead of G20 meeting with Donald Trump and Xi Jinping

Good day, traders: So, the countdown continues to the high-stakes Xi-Trump chat about trade and tech in Japan. The G20 summit of leaders of the world’s top economies gets under way Friday, and the US and Chinese presidents are expected to meet on the sidelines. Traders are on edge, but there still have been plenty of money-making — and losing — plays.  We will keep you up on what’s driving mainland and Hong Kong markets. Always happy to hear from you at deb.price@scmp.com as we try to make… Source link

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Hang Seng Index drops by the most in five weeks as Hong Kong’s biggest protest rally in decades finds city on edge

Hong Kong stocks fell by the most in five weeks, as traders pocketed their profits from a recent run-up in prices after the city’s police fired tear gas on demonstrators protesting a controversial extradition proposal.The Hang Seng Index fell 1.7 per cent to 27,308.46, its biggest daily decline since a 2.4 per cent plunge on May 9 amid escalating tensions between the United States and China over trade.“The main issue the market is facing is still the Sino-US trade tussle. We have not seen the… Source link

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Shenzhen, hometown of Huawei, will offer tax breaks to overseas and local talent to maintain edge in tech amid trade war

Shenzhen, Hong Kong’s neighbour to the north and mainland China technology powerhouse, will extend tax breaks to top overseas and local talent as it seeks to maintain its edge in innovation amid an escalating trade war between the United States and China.Wang Lixin, a deputy mayor, said on Sunday the city would use its own operating income to make up for the shortfall in tax revenue. Under the scheme, income tax will be cut to 15 per cent of annual income for certain individuals.“Suppose you… Source link

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Ecommerce 

Lazada extends e-commerce edge in Southeast Asia despite lull in overall visits to site

Lazada Group has extended its edge as the most popular e-commerce platform in Southeast Asia despite an overall sequential decline in visits to the site in the first quarter, according to a research report from iPrice and app analytics firm App Annie.The Alibaba-backed e-commerce company scored the highest average monthly active users in Malaysia, Philippines, Thailand and Singapore in the first quarter, and was also among the top apps in Vietnam and Indonesia, ranking second and fourth… Source link

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Chinese smartphone makers gain an edge in foldable handsets as delays beset Samsung’s Galaxy Fold

China’s major mobile phone makers could get the inside track in the nascent global market for foldable smartphones, as technical issues have delayed the commercial release of Samsung Electronics’ Galaxy Fold.Huawei Technologies, the world’s largest telecommunications equipment manufacturer and China’s biggest smartphone supplier, is expected to benefit from Samsung’s deferred launch if the Shenzhen-based company can fast-track the introduction of its 5G-ready, foldable Mate X model.“Launching… Source link

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Property 

Demand for office space in Hong Kong cools by the most in five months, but rents edge higher

New office lease activity in Hong Kong dropped by nearly a third in March – the most in five months – amid softening demand from mainland Chinese companies, JLL’s latest report showed.The 30 per cent drop in office lettings pushed up the overall available space to 95,700 square feet or 4.8 per cent, up from 4.7 per cent recorded in February.“If we are talking about month on month basis, it is the biggest drop since November 2018 when it dropped 55 per cent,” said Denis Ma, head of research at……

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Cause for jubilation is very much exaggerated as global markets are sleepwalking in unison toward a cliff’s edge. Here’s why

Just when everyone thought it was safe to come out, along came the International Monetary Fund (IMF) with its dire warning of threatening financial storms ahead, urging everybody to take cover. The markets may be sleepwalking in a convoy toward a potential crisis, the IMF suggested.This may sound too pessimistic, at a time when the global economic outlook appears to be brightening on hopes of a US-China trade deal, a generalised shift toward dovish central bank policies and some pickup in China… Source link

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Ecommerce 

Race is on for tech companies like Grab, Ant Financial to gain an edge in SE Asia's financial services market

In Southeast Asia, over 95 per cent of companies are small and medium-sized businesses, many of which find it difficult to gain access to funding. Now technology companies like Grab, Ant Financial and Tencent’s WeChat are hoping to fill the market gap by offering financial services like loans and payments.Grab, the Singapore-based ride-sharing company that has now expanded into everything from food-delivery to mobile payments, said on Tuesday that it is making a “full-scale push into lending… Source link

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Vietnam 

Cement, clinker demand to edge up this year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Demand for cement and clinker is expected to increase marginally to 98-99 million tonnes, according to the Ministry of Construction. This would include domestic consumption of 70 million tonnes and exports of 28-29 million tonnes, it said. Demand grew by 19 per cent last year to 96.7 million tonnes, with exports accounting for 31.6 million tonnes after rising 55 per cent. Export prices too shot up last year to $44 per tonne from US$38-38.5 at the end of 2017. …

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Greater Bay Area is a chance for Hong Kong to show it hasn’t lost its edge

The Greater Bay Area plan, to be unveiled shortly, should be embraced and not feared. It will give Hong Kong the opportunity to showcase its strengths and a larger platform to stake its claim to innovation and excellence on many fronts. The last thing Hongkongers should do is doubt themselves or think they have lost their competitive edge. The city is not “finished” and innovation is thriving in many areas. Colonial Hong Kong is history. Hong Kong can carve a new role for itself if it wants to. The Greater…

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