Home 

Stocks Blog: Mainland, Hong Kong markets set to open higher

Good morning, traders — Futures are pointing to a positive opening for markets. We’ve got you covered on the top action in mainland and Hong Kong markets, with insights from leading analysts.  Stay with us throughout the day. If you have any questions or feedback, please send them to deb.price@scmp.com . — Yujing Liu and Srinivasan Iyer     Source link

Read More
Home 

Consumer stocks lift China and Hong Kong’s markets to close higher, reversing the declines during a tumultuous week

Consumer stocks lifted Chinese and Hong Kong indexes on Friday, as investors are betting that the Chinese government will dip into its coffers to provide financial stimulus to keep the economy growing.Hong Kong’s Hang Seng Index rose 0.9 per cent to close at 25,734.22 on Friday. The gauge fell 0.8 per cent during the week, the fourth week of declines, weighed down by lacklustre corporate earnings and the impact of escalating protests that earlier brought the city’s airport to a standstill for… Source link

Read More
Home 

Higher deposit for land sales will add pressure on small firms, tightening the big developers’ grip on Hong Kong’s land supply

The recent move by Hong Kong’s government to double the deposit for land tender sales, raised to deter defaults, will add to the financing pressure on small developers and put them at a disadvantage when they buy land in the world’s most expensive property market, analysts said.A HK$50 million (US$6.4 million) deposit now applies on all land parcels that are valued at over HK$400 million, while plots assessed at between HK$200 million and less than HK$300 million requires a non-refundable… Source link

Read More
China 

US trade war drives China’s producer prices into deflation, as pork prices send consumer inflation higher

The US-China trade war is forcing China’s manufacturers to sell their products at a discount rate, driving prices into deflationary territory in July, data released on Friday showed.The producer price index (PPI), reflecting the prices that factories charge wholesalers for their products, fell into negative territory at minus 0.3 per cent compared to a year earlier, down from the flat reading in June.The release showed the pressure being placed on manufacturers in China due to tariffs the… Source link

Read More
Global 

China’s US trade slumps again, but exports rise due to higher demand from Asian neighbours

The first year of the US-China tariff war drove the world’s two largest economies further apart on trade, with new data suggesting that Beijing may be looking to its Asian neighbours to take up some of the slack as the mainland seeks to become less reliant on the United States.Exports from China to the US fell yet again in July – the month which marked the first anniversary of trade war tariffs – dropping 6.5 per cent.China is also buying fewer American goods with imports from the US falling 19……

Read More
Singapore 

No Singaporean student displaced from higher learning institutes because of foreign students: Ong Ye Kung, Singapore News

SINGAPORE – No Singaporean student is ever displaced from an institute of higher learning (IHL) because of a foreign student, said Education Minister Ong Ye Kung. Mr Ong told the House on Monday (Aug 5) that the number of places in higher-learning institutes is planned with Singaporean students in mind. After the IHLs admit all Singaporean students who meet their standards, they then “raise the bar by a few notches” and admit a “small minority” of foreign students, he said. Mr Ong gave this assurance in response to Workers’ Party…

Read More
Global 

China’s exports and imports both fell in June, as higher US trade war tariffs blitz Chinese economy

China’s exports fell in June, as trade tariff increases from the United States came into effect, while imports continued to weaken amid declining domestic demand.In June, exports fell by 1.3 per cent year-on-year to US$212.8 billion, after tariffs on US$200 billion of Chinese goods were raised from 10 per cent to 25 per cent by Washington in May. This was down from 1.1 per cent growth in May.Imports, meanwhile, continued to slump, falling 7.3 per cent in June to US$161.8 billion, according to… Source link

Read More
Singapore 

Expect higher MRT fares: Khaw Boon Wan, Singapore News

The recent improvement in rail reliability has come at “substantial expense” to the operators and the Government, Transport Minister Khaw Boon Wan told Parliament yesterday as he signalled that commuters will soon need to pay higher fares to foot the bill. With the rail operators posting losses and the Government subsidising more than 30 per cent of public transport operations, Mr Khaw said that the next fare formula, due for a review in four years, needs to reflect the increased costs of operating the MRT system. Mr Khaw said the…

Read More
Home 

Hong Kong’s dollar strengthens toward higher end of trading band against US dollar as interbank rate rises

Hong Kong’s borrowing costs are stuck near decade-highs, adding momentum to the local currency.The Hong Kong dollar traded in the stronger half of its band against the US dollar for the first time since September, rising as much as 0.18 per cent to 7.7995.While local interbank rates dipped Tuesday, the cost to borrow the currency remains higher than the income a trader can expect on US dollars. That’s killing the Hong Kong dollar carry trade by making money more expensive in the city.Rates are… Source link

Read More
China 

China’s manufacturing activity remains sluggish in June, as higher US tariffs kick in

China’s manufacturing industry remained weak in June, with the official purchasing managers’ index suggesting factory owners are still downbeat about their prospects as the pressures of the trade war continue to mount.Published by the National Bureau of Statistics on Sunday, the purchasing managers’ index (PMI) for the month, was unchanged from May at 49.4, marginally below the mean forecast of 49.5 in a poll of economists by Bloomberg.The PMI is a gauge of sentiment among factory operators,… Source link

Read More