Home 

China’s middle class stress over debt payments as unemployment hits two-year high

When Tan Jinqiao, a 27-year-old product manager with a Beijing-based fintech firm, was asked to leave his job in February, one of his first thoughts turned to making his car payment of almost half his monthly salary.Tan is among the growing number of China’s middle class population that is facing rising unemployment and household debt as the nation’s economy is growing at its slowest rate in three decades amid the trade war with the United States that has weakened consumer and investment… Source link

Read More
Home 

World-beating rally in mainland China stocks hits speed bump amid sell-off in once hot agriculture shares

A world-beating rally in mainland Chinese stocks stuttered on Wednesday, as traders offloaded holdings in agricultural companies, one of this year’s best-performing sectors, to lock in profits.In mainland China, the Shanghai Composite Index dropped by less than 0.1 per cent, or 0.34 points, to 3,090.64 at the close, almost reversing a decline of as much as 1.2 per cent in volatile trading. In Hong Kong, the Hang Seng Index fell for the first time in five days, as Xiaomi and Meituan Dianping… Source link

Read More
Singapore 

Video: Cabby hits 3 vehicles in Bedok carpark during ‘rampage’, arrested and suspended, Singapore News

A 62-year-old taxi driver was arrested after hitting three other vehicles that were parked in front of Block 631 Bedok Reservoir Road on early Tuesday morning (March 19). In response to a Stomp query, the police said they were alerted to the accident involving the taxi, a car and two lorries at the carpark at 1.15am. The cabby was arrested for suspected drink-driving and police investigations are ongoing. Stomp understands that no one was hurt in the incident. Stomp contributor Anonymous, a resident at Block 631, said he looked out…

Read More
China 

Asia’s exports slump to deepen as global economic slowdown hits regional powerhouses

Asia’s exports slump is expected to deepen, with analysts saying regional trade is heading for its lowest point since 2015. Amid a slowdown in global demand, Asian exports will continue to decline until at least April, according to an index compiled by Nomura Bank. The index combines eight economic elements to predict exports three months in advance for China, Hong Kong, India, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand and it shows a rocky road ahead. … Source link

Read More
Vietnam 

VN stocks decline as selling hits large-caps – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI Vietnamese shares fell on Friday, ending a three-day rise, as investors continued seeking short-term profits on the last day of exchange-traded funds’ review. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange edged down 0.43 per cent to close at 1,004.12 points. The southern market index had gained total 2.41 per cent in the previous three trading days and climbed above the milestone of 1,000 points. For the whole week, the VN-Index gained total 1.91 per cent. More than…

Read More
Singapore 

Police, ComfortDelGro investigating after cabby hits road divider twice and lets man alight on ECP, Singapore News

The police and transport operator ComfortDelGro are investigating an incident where a taxi driver was seen hitting a road divider twice, before letting a passenger alight on the East Coast Parkway (ECP). Facebook user Daryl Goh posted a video of the “weird incident”, which occurred on the Benjamin Sheares Bridge on Friday afternoon (March 8). In the video that was also shared on ROADS.sg, the ComfortDelGro taxi driver is first seen hitting the central road divider. A voice in the background, believed to be from the driver who recorded the…

Read More
Home 

China’s box office takes world-record US$1.66 billion in February as Lunar New Year hits like The Wandering Earth pack cinemas

China’s box office receipts soared to a world-record 11.1 billion yuan (US$1.66 billion) in February as film fans flocked to cinemas to catch The Wandering Earth and other blockbusters during the Lunar New Year holiday.The sales figure, provided by Maoyan Entertainment, China’s biggest movie ticketing app, is the highest ever recorded in a single month anywhere, and beats the previous record of 10.1 billion yuan set by China in the same month a year earlier.It was well over three times the… Source link

Read More
Home 

Hong Kong, China stocks fall as dramatic slump in US retail sales hits markets

Hong Kong and China stocks got off to a poor start on Friday after a dramatic fall in US retail sales, and a resurfacing of scepticism over a possible trade deal being reached dragged markets down. The Hang Seng Index, Hong Kong’s benchmark, slumped by more than 300 points within a quarter of an hour of the market opening before clawing back some ground to trade 0.81 per cent, or 230.84 points, lower at 28,201.21. In mainland China the CSI 300, which tracks blue chips listed in Shenzhen and Shanghai,…

Read More
China 

China hits back at US report on its WTO compliance saying it lacks factual basis

China opposes a report by the US Trade Representative’s office on its World Trade Organisation compliance, the commerce ministry said, saying it is inconsistent with the facts. The report was based on US domestic law rather than World Trade Organisation (WTO) agreements and multilateral rules, the ministry said in a statement late on Tuesday. A considerable part of the accusations against China in the report exceeded its commitments to the WTO, lacking legal and factual basis, it added. China firmly supports the multilateral trading system and participates in the reform…

Read More
Vietnam 

HCM City hits 2018 revenue target – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — HCM City’s revenues last year grew by 8.6 per cent to VNĐ378.54 trillion (US$16.3 billion), according to the Department of Finance. The city, which gets a portion of its revenues allocated to it by the Government, spent VNĐ72.63 trillion, up almost a fifth from the previous year, with VNĐ30.79 trillion being spent on socio-economic infrastructure. Huỳnh Thị Thanh Hiền, deputy director of the city Department of Finance, told a review meeting where the figures were tabled that despite facing many challenges…

Read More