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Shanghai benchmark closes at highest level in 10 weeks, as US delay in tariff hike cools tensions

The Shanghai Composite Index closed at its highest level in 10 weeks, as investment sentiment was buoyed by US president Donald Trump’s decision to delay tariffs for two weeks as a “gesture of goodwill” for celebrations marking the 70th anniversary of the founding of the People’s Republic of China.The Shanghai benchmark ended 0.7 per cent higher, at 3,0312.4.The CSI 300, which tracks Shenzhen and Shanghai blue chips, rose 1.1 per cent to 3,972.38. Financials and consumer stables led the indexes… Source link

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Hang Seng Index rises to highest level in six weeks as trade war angst eases

The Hang Seng Index rose 1.8 per cent to close at 27,159.06, its highest level since August 1, as investors’ outlook on the US China trade war improved, prompting them to snap up banking and property stocks.The gains in Hong Kong on Wednesday contrasted with the CSI 300, which tracks blue chips listed on Shenzhen and Shanghai bourse. It closed down 0.7 per cent at 3,930.1, while the Shanghai Composite Index finished down 0.4 per cent at 3,008.81.China on Wednesday unveiled a list of 16 types of… Source link

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Global 

Wealthy Chinese apply to move to the UK at the highest rate since 2014 as the trade war puts them off the US

The trade war is driving rich Chinese people to drop their plans to emigrate to the US and seek alternative destinations in Europe, particularly the UK, the latest data suggests.Applications for so-called tier-1 investor visas to the UK by ultra-wealthy Chinese jumped by more than half to 83 – including 10 from Hong Kong – in the first quarter of 2019 from 54 in the preceding three months, according to Growthdeck.That is the highest number since the fourth quarter of 2014, according to the… Source link

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Chinese stocks close at highest in almost a month as MSCI raises weighting, industrial profits data improves

Chinese stocks climbed on Tuesday, with the Shanghai Composite Index gaining 1.4 per cent to close at its highest level in almost a month.Its gains contrasted with the Hang Seng Index, which ended virtually flat, as investors showed caution amid concerns about the city’s bleak growth outlook.The benchmark Chinese gauge closed at 2,902.19, the highest since August 1. The CSI 300, which tracks blue chips listed in both Shanghai and Shenzhen, also rose 1.4 per cent, to finish at 3,816.95.Profits… Source link

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Vietnam 

Brewer Habeco Q2 profits highest since 2017 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Habeco production line. The company has reported its Q2 post-tax profit reached the highest level in two years. — Photo tinnhanhchungkhoan.vn HÀ NỘI — The Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) has reported its highest quarterly profit since April 2017. The company has announced its post-tax profit gained 12 per cent year on year to nearly VNĐ241 billion (US$10.36 million) in the second quarter of 2019. Its Q2 revenue was down 16.5 per cent year on year to VNĐ2.43 trillion. Despite the lower revenue, the increase in post-tax…

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S&P becomes first foreign firm to rate domestic Chinese bonds, assigns highest score to ICBC unit

S&P Global Ratings is the first foreign credit-rating company to rate domestic Chinese bonds after awarding its top score to a unit of the country’s largest bank.S&P assigned a “AAA” rating on July 11 to ICBC Financial Leasing, a unit of Industrial and Commercial Bank of China. That is the highest grade on the ratings scale S&P established for China. It does not correspond to the same rating on its global scale.The move puts S&P in front of the other two major ratings agencies, Moody’s… Source link

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Singapore 

Electricity tariffs to rise 6.4 per cent in third quarter to hit highest rate in nearly 5 years; gas tariffs to increase by 1.6 per cent, Singapore News

SINGAPORE – Electricity tariffs are set to rise by an average of 6.4 per cent in the third quarter of this year, SP Group said on Saturday (June 29). Gas tariffs for households are also set to increase by 1.6 per cent in the third quarter, City Gas said. For the period from July 1 to Sept 30, electricity tariffs will increase by 1.43 cents per kilowatt hour compared to the previous quarter. Excluding the goods and services tax, this translates to a rise from 22.79 cents per kwh to…

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Singapore 

Singaporean Khoo Swee Chiow becomes first South-east Asian to scale world’s 3 highest peaks, Singapore News

SINGAPORE – Singaporean adventurer and mountaineer Khoo Swee Chiow has become the first South-east Asian to scale the world’s three highest peaks – Mount Everest (8,848m), K2 (8,611m) and Kangchenjunga (8,586m). Mr Khoo, 55, reached the summit of Kangchenjunga at 8am local time (10.15am Singapore time) last Wednesday (May 15) on his third attempt, he said in a media statement on Friday. The mountain lies between Nepal and India’s Sikkim state. Khoo first attempted to climb Kangchenjunga in 2017, but turned back at 8,000m due to a shortage of rope.…

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Vietnam 

January-April total retail value grows at highest rate since 2015 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Kiosks selling fabric products at a market in Kiên Giang Province.The retail sale value in January – April increased at the highest rate since 2015. — VNS/VNS Photo Hồng Đạt HÀ NỘI — Goods and services trading continued its upward trend in the January-April period with the retail sale value increasing at the highest rate since 2015, according to the General Statistics Office (GSO). Latest updates from the GSO showed that the total retail sale value of consumption goods and services in the first four months of this year was…

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Singapore 

Singapore-based doctor dies after rescue from Nepal’s Mount Annapurna, the world’s 10th highest mountain, Singapore News

A Singapore-based Malaysian doctor died yesterday, after he was rescued from Nepal’s Mount Annapurna where he was stranded in sub-zero temperatures for nearly two days. Dr Chin Wui Kin, 48, had reached the top of the 8,100m Himalayan mountain last Tuesday with 32 other climbers but failed to return to the nearest camp, 1km below the peak, with the rest of his group. His Sherpa guide Nima Tshering, who reportedly gave his oxygen tank to the doctor, had made his way to Camp IV, sparking the search for Dr Chin,…

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