Property 

Chinese millionaires propel Singapore’s luxury home sales to 11-year high

Sales of Singapore flats worth at least S$10 million (US$7.3 million) have hit an 11-year high, fuelled by increased demand from Chinese millionaires seeking safe-haven assets, property consultants OrangeTee & Tie said.Investors have long viewed Singapore as an island of stability that attracts the super-rich from its less developed Southeast Asian neighbours, as well as multimillionaires from mainland China.In the first eight months of 2019, 68 condominium units in the city state were sold for… Source link

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Liquor maker Kweichow Moutai closes at record high as China stocks edge higher

Stocks in China and Hong Kong ended mixed, as traders awaited a Federal Reserve meeting that will decide if interest rates will be changed.The Shanghai Composite Index added 0.3 per cent to 2,985.66 at the close on Wednesday, rebounding from its biggest decline in 10 weeks a day earlier. Hong Kong’s benchmark Hang Seng Index slipped 0.1 per cent to 26,754.12.The Fed decision, which is due at 2am Hong Kong time on Thursday, will set the stage for global monetary policy through the rest of the… Source link

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Shanghai-Shenzhen CSI 300 closes at four-month high, while Hong Kong slips on protest-fuelled economic woes

China benchmarks closed with solid gains Monday, as expectations of more fiscal and monetary support measures mount. But in Hong Kong, a slump in August visitor numbers on top of ongoing protests kept traders on edge.The CSI 300, which tracks blue chips listed on the Shenzhen and Shanghai exchanges, rose 0.6 per cent to 3,972.95, which is the highest level in four months. The Shanghai Composite closed up 0.8 per cent at 3,024.74, the highest in two months.The Hang Seng Index edged down 0.04 per… Source link

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China 

Upside in the world’s top-performing stock index puts it on path to break this year’s high as China turns on the liquidity taps

Stocks in the world’s best-performing market of the past month have more room to gain, as China’s monetary authorities turn on the tap to inject more liquidity into the economy and financial system, according to a forecast by the country’s largest public traded broker.The Shanghai Composite Index may rise by at least another 9 per cent from Friday’s close of 2,999.60, which would put it in the position to surpass the year’s record set in April, according to Citic Securities’ analysts led by Qin… Source link

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Vietnam 

Viettel still aiming high after 30 years – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Burundian users at a Lumicash office. Lumicash is an electronic wallet developed by Viettel’s Burundi-based unit Lumitel in September 2016. – Photo viettel.vn HÀ NỘI – After growing for 13 years and now covering Southeast Asia to South America, it can be said “the sun never sets” on the Viettel Military Industry and Telecoms Group (Viettel). In 2006, Việt Nam had less than five billion-dollar enterprises and none of them were among the world’s top 20 businesses. The same year, the 17-year-old Viettel established its branch Viettel Cambodia, marking the…

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China 

China’s service sector activity rose to three-month high in August, Caixin PMI survey shows

Activity in China’s services sector expanded at the fastest pace in three months in August as new orders rose, prompting the biggest increase in hiring in over a year, a private survey showed on Wednesday.Stronger job creation by services firms will be welcome news for Beijing, which is struggling to reverse a prolonged slump in the manufacturing sector which has dragged economic growth to near 30-year lows.The Caixin/Markit services purchasing managers’ index (PMI) picked up to 52.1 last month… Source link

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China 

China seeking moral high ground against Donald Trump with WTO compliant over latest US tariffs, analysts say

China’s move to file an official complaint with the World Trade Organisation over new tariffs from the United States on Chinese products is largely a symbolic attempt to gain the moral high ground by supporting the international trading system amid the ongoing trade war, analysts said.The Ministry of Commerce announced in a statement on Monday, a day after Washington imposed the first batch of new tariffs on US$300 billion of Chinese imports, that China had filed a lawsuit against the US under… Source link

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Chinese sportswear maker Li Ning’s shares jump to nine-year high as former Uniqlo executive Kosaka Takeshi appointed joint CEO

Li Ning, the Chinese sportswear maker whose shares have more than quadrupled in the past two years, may get another boost to its stock-market performance.The Beijing-based company, which was founded by the Olympic gold medal-winning gymnast of the same name, said it has hired Kosaka Takeshi from Japanese clothing retailer Uniqlo as its joint chief executive officer, alongside Li Ning himself.Kosaka, a Japanese-Chinese, was formerly the chief operating officer of the Chinese unit of Uniqlo, Asia… Source link

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Vietnam 

Việt Nam has high demand for IT workforce – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Personnel of NextTech Group. Despite rising salaries and benefits, Việt Nam will face a shortage of 90,000 IT workers in 2019, TopDev reports. — Photo ictnews.vn HÀ NỘI – Demand for human resources in Việt Nam’s information technology (IT) sector has reached a five-year peak with nearly 63,000 jobs to be filled in 2019, according to the second quarter report on Việt Nam’s IT market conducted by TopDev, an IT recruitment network and ecosystem. This number is five times higher than 2015’s demand and represents a growth of 56 per…

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China 

Japan overtakes China as the biggest creditor to the US, as Japan’s June Treasuries holdings jump to a 30-month high

Japan surpassed China in June as the top holder of US Treasuries as the trade war between the world’s two largest economies intensified.Japan increased its holdings of US bonds, bills and notes by US$21.9 billion to US$1.12 trillion, the highest level in more than two and half years, according to data released by the Treasury Department on Thursday. Meanwhile, China’s ownership rose for the first time in four months to US$1.11 trillion, up by US$2.3 billion.The last time Japan held the position… Source link

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