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China, Hong Kong stocks recover lost ground since re-escalation of trade war

China and Hong Kong stocks on Thursday recovered lost ground since the US-China trade war re-escalated almost two months ago, as a dovish US interest rate outlook boosted sentiment amid optimism on trade relations.The Shanghai Composite Index closed up 2.4 per cent, to 2,987.12, marking its fourth-straight day of gains. The benchmark was at its highest level since April 30, the trading session right ahead of a sharp decline of 6 per cent as trade tensions flared up.The advance came after the US… Source link

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Money 

Chinese, US finance chiefs find common ground on need to reform global tax rules

While China and the US are at loggerheads over trade and technology, their finance chiefs on Saturday found some common ground on the need to reform global tax rules to cope with digitalisation and the rise of e-commerce.Speaking at a symposium on taxation during the Group of 20 finance leaders’ meeting in Fukuoka, Japan, Chinese Finance Minister Liu Kun said the international community needed to work together to tackle the challenges brought by the digital economy, rapid growth of information… Source link

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China stocks lose ground for a third day on concern government to pare policy loosening

China’s stocks dropped for a third consecutive trading day, with a 2.1 per cent gain on the benchmark evaporating, as concerns that the government will scale back policy easing countered credit growth that exceeded analysts’ estimates.The Shanghai Composite Index fell 0.3 per cent, or 10.84 points, to 3,177.79 at the close on Monday. The ChiNext gauge of small companies declined 1.7 per cent. Hong Kong’s Hang Seng Index slipped 0.3 per cent to the lowest level in almost two weeks.Equities… Source link

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Vietnam 

FM Logistic breaks ground for new distribution centre in Việt Nam – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

BẮC NINH — Ground has been broken for a US$30 million warehouse and distribution centre in the northern province of Bắc Ninh. French logistics and transport company FM Logistic will build the centre which is expected to open phase one next year. Once completed, the new multi-client facility will employ around 300 people and provide 52,000sq.m of storage space for up to 70,000 pallets. Among the customers interested in the centre is Brenntag, a global market leader in chemical distribution. “After one year of satisfying co-operation with FM Logistic in…

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US-China trade war talks to hit the ground running with dinner diplomacy as American delegation arrives in Beijing

Trade talks between China and the United States will begin with a working dinner in Beijing on Thursday ahead of a full day of discussions on Friday, a commerce ministry spokesman confirmed, with negotiators wasting no time following the arrival of the American delegation.The US delegation led by trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin arrived in Beijing on Thursday for the latest round of talks aimed at finding solutions to the issues at the centre of the… Source link

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Boeing shares fall for a second day as more countries ground 737 MAX 8 planes, knocking US$25 billion off market value

Boeing Co’s stock took another beating on Tuesday, knocking off more than US$25 billion from the aerospace manufacturer’s market value over the past two days, as more countries lined up to ground its 737 MAX 8 aircraft following Sunday’s deadly crash in Ethiopia.Britain joined China, Malaysia, Singapore, Australia and other countries in banning the 737 MAX planes, squeezing the shares, which had been one of best performing stocks so far this year on the Dow Jones Industrial Average. … Source link

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China 

China’s decision to ground Boeing 737 MAX 8 driven by safety concerns, not US-China trade war: experts say

China’s decision ordering domestic carriers to temporarily ground the Boeing 737 MAX 8 stems from safety concerns but any impact on the ongoing trade talks with the United States cannot be discounted, according to experts and analysts following Sunday’s fatal crash in Ethiopia. Having bought a significant amount of the US company’s newest model, China led the pack of airline and aviation authorities in grounding the plane on Monday, a day after an Ethiopian Airlines 737 MAX 8 crashed, killing… Source link

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Vietnam 

Shares gain ground as cash flow rises – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Strong cash flow poured into the market on Wednesday helping the indices reverse from the morning session and climb in the afternoon. The market received strong support from foreign investors’ net buying. The significant movement of the Chinese market also positively impacted domestic investor sentiment. Việt Nam’s benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) increased by 0.21 per cent to end Wednesday at 994.49 points. The southern market index fell 0.15 per cent to close at 992.45…

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How China’s yuan can gain ground against the US dollar and the euro as a global reserve currency of choice

Everyone wants to knock the US dollar off its throne as the world’s leading currency. Europe has tried and failed, with the euro’s hope for global forex glory badly dented by the European debt crisis. Beijing would love to see the yuan leapfrog into pole position but it is losing the hearts and minds campaign to win over markets and build confidence in the yuan as a credible dollar alternative. Beijing has its work cut out if it is going to steal the dollar’s crown before the 21st century is…

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Singapore 

Cabby hits female passenger and pushes her to ground in dispute at Pearl Bank Apartments, Singapore News

A cabby was caught on video hitting and pushing a female passenger to the ground in a dispute that happened at Pearl Bank Apartments on Dec 7 at about 3am. Several Stompers alerted Stomp to the video that has been circulating on WhatsApp. After a tip-off from Stomp contributor Dan, Stomp investigated and confirmed the incident happened at the iconic residential building in Outram. In the video, that appears to be a recording of CCTV footage, the cabby is seen pulling up at a drop-off area with a female passenger sitting in…

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