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China stocks rise to 13-month high, as China Life’s earnings forecast brightens outlook

China’s stocks rose on Friday, with the benchmark reaching a 13-month high, as a profit forecast from bellwether China Life Insurance spurred optimism that corporate earnings growth will pick up.The Shanghai Composite Index closed 0.6 per cent higher, reflecting its highest level since March 21, 2018 and capped a weekly gain of 2.6 per cent. The CSI 300 Index of big-caps gained 1.2 per cent. Hong Kong’s market was shut for an extended holiday and will reopen on Tuesday.With China reporting… Source link

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Vietnam 

Banks forecast further improvements – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A majority of credit institutions in the country said their business performance in the first quarter of 2019 was better than the same period last year. — Photo courtesy of Vietcombank HÀ NỘI — A majority of credit institutions in the country said their business performance in the first quarter of 2019 was better than the same period last year, according to the State Bank of Việt Nam’s March survey released late last week. Under the business sentiment survey, which covered domestic and foreign commercial banks operating in the…

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China 

China’s growth forecast for 2019 raised by IMF, despite trade war and global downturn

The US-China trade war will have less impact on the Chinese economy than initially thought, with the International Monetary Fund increasing its growth forecast for the country this year.The International Monetary Fund (IMF) now forecasts that China’s economy will grow by 6.3 per cent in 2019, up 0.1 per cent on its last prediction. This is despite the fact that the fund downgraded its growth outlook for most major economies, as well as the global economy, amid a series of headwinds.In an effort… Source link

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Vietnam 

UK chartered accountants forecast slower SE Asia growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — Cooling export growth will impact Southeast Asia, pulling down the region’s economic growth to 4.8 per cent this year from 5.1 per cent in 2018, the Institute of Chartered Accountants in England and Wales has forecast. In a report, “Economic Insight: South-East Asia”, it said growth would further ease to 4.7 per cent in 2020. Export growth would decelerate amid increased trade protectionism and slower Chinese demand. Vietnamese growth was forecast to slow down to 6.7 per cent this year…

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US$45 billion in mutual fund inflows forecast for China’s Nasdaq-style tech board

Mutual funds dedicated to the upcoming Nasdaq-style tech board in Shanghai could draw inflows of 300 billion yuan (US$45 billion), according to research from China Galaxy Securities.The study comes as at least 31 Chinese asset management firms have submitted applications for 43 mutual funds to the securities watchdog, information available on the China Securities Regulatory Commission website showed on Monday.Hu Lifeng, chief fund analyst for China Galaxy Securities, said in the research note… Source link

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China 

European Central Bank makes moves to boost struggling euro zone after growth forecast slashed

Europe’s central bank delivered a fresh round of monetary stimulus in a bid to shore up the weakening economy as it cut its growth forecast by the most since the advent of its quantitative-easing programme.European Central Bank (ECB) president Mario Draghi said the euro-zone economy will now expand only 1.1 per cent this year, a drop of 0.6 percentage point from forecasts just three months ago. A package of help from new loans for banks to a longer pledge on record-low rates is intended to… Source link

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Vietnam 

Markets forecast to remain positive – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese stock markets are expected to remain positive in the short-term, with the VN-Index moving towards the 990-1,000 point range next week. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 0.14 per cent to close Friday at 988.91 points, marking a five-day gain of nearly 4 per cent. The minor HNX Index on the Hà Nội Stock Exchange finished last week up 0.66 per cent to close at 106.82 points, marking a weekly gain of 0.6 per cent.…

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Vietnam 

Electricity, aviation companies forecast for a great 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Power and aviation companies are among the industries forecast for better things this year, according to industry analysts. FPT Securities (FPTS) and VNDirect Securities (VNDS) made the predictions in their 2019 market outlook. They have taken into consideration that more and more investors have been finding new opportunities in the two industries, which have become defensive in recent years on rising market consumption and demand. Stable growth is forecast for the electricity sector as socio-economic development increases demand, FPTS said.…

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Vietnam 

Deposit rate forecast to stay steady over next few months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The interest rate for đồng deposits is stable at 4.8-5.5 per cent per year for terms of less than 6 months. — VNA/VNS Photo Viet Nam News HÀ NỘI — Interest rates for Vietnamese đồng deposits would remain stable or even decline over the next few months, analysts from Saigon Securities Inc. (SSI) forecast. The outlook is different to a month ago when most believed pressure from interest rate hikes would occur in 2019 due to high inflation, global tightened monetary policy and the accelerating trade war. …

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Vietnam 

No huge pressure on exchange in 2019: forecast – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Experts have forecast minimal pressure on exchange rates in 2019, with little chance of significant volatility. According to a recent report by SSI Securities Corporation, the continued devaluation of Chinese yuan could pressure the Vietnamese đồng. However, after overcoming the most difficult period – beginning of the US-China trade war, market members and management agencies are now prepared. The company predicted the volatility of the US dollar against Vietnamese đồng would be the same as 2018 with little chance for sudden…

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