China 

‘Still bullish’: Beijing hits back at Trump claim US tariffs are forcing manufacturers out of China

Overseas investors are still enthusiastic about China, the foreign ministry said on Tuesday, following Donald Trump’s claim that US tariffs were forcing companies to move production out of the world’s second largest economy.On Sunday, Trump claimed that tariffs on Chinese goods were pushing manufacturers out of China and towards Vietnam and other Asian countries, and that any agreement to end his trade war with China cannot be a “50-50” deal.No trade talks between senior Chinese and US trade… Source link

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US stocks fall as Huawei ban fallout hits tech shares

US stocks slid on Monday as the White House’s restrictions on Chinese telecoms equipment maker Huawei Technologies weighed on the technology sector and raised concerns that the move would further inflame trade tensions between the United States and China.Since the White House added Huawei to a trade blacklist last week, several companies have suspended business with the world’s largest telecom equipment maker.Alphabet Inc’s Google has moved to stop providing Huawei with access to its… Source link

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China 

China talks up the value of yuan as Donald Trump’s trade war hits currency rate

China is unlikely to allow the yuan to fall below the psychologically important level of 7.00 against the dollar, at least in the near term, judging by statements made by its top foreign exchange regulator on Sunday.Pan Gongsheng, chief of the State Administration of Foreign Exchange (Safe), said that the yuan’s value is strongly supported by the country’s economic and financial fundamentals. Pan talked up the value of the yuan at a time when an escalating trade war between China and the United… Source link

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CLP’s plan to buy solar energy from village houses hits a snag

A scheme for Hong Kong residents to generate electricity from rooftop solar panels and contribute to the government’s carbon reduction goals has suffered a setback due to a lack of grid infrastructure, according to the chief executive of the city’s largest power supplier.As many as 13 per cent of applications to install rooftop panels are facing delays or substantial scale curtailment, said Richard Lancaster of CLP Holdings.“In some more remote parts of the New Territories, there isn’t the… Source link

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Singapore 

Moving garden: Singapore’s first public bus with ‘green roof’ hits the road, Singapore News

Singapore’s first public bus with plants installed on its roof – touted as the first in Asia – hit the road on Sunday (May 5). This will be part of a three-month study to see whether the temperature inside the buses can be lowered, and potentially save on fuel. The study will involve 10 SBS Transit buses, including services 139, 145, 13, 39, and 45 that go to places such as Toa Payoh, Tampines and Orchard Road. The buses are outfitted with a locally developed soil-less system called Gaiamat. The…

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Singapore 

Man hits car bonnet and challenges Grab driver to a fight after blocking traffic in Clarke Quay, Singapore News

A man obstructed traffic by standing within yellow box markings on the road, then repeatedly hit a car bonnet and challenged its driver to a fight. Facebook user Norman Lee, who is a friend of the driver, posted a video of the incident that occurred along Eu Tong Sen Street at around 3.40am on Wednesday (May 1). When contacted by Stomp, Mr Lee said that his friend, a Grab driver, had been preparing to make a left turn towards Clarke Quay to pick up a passenger. He shared: “Most people…

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Macau casino revenue, weighed down by sluggish Chinese economy, hits three-year low

Macau casino revenue fell the most in about three years as China’s sluggish economy continued its chilling effect on high-end customers. Analysts, however, believe the world’s largest gaming hub has seen the worst of the recent slowdown.Gross gaming revenue for Macau casino operators was 23.6 billion patacas (US$2.9 billion) in April, down 8.3 per cent from a year earlier, according to data from the Gaming Inspection and Coordination Bureau. That was roughly in line with a median analyst… Source link

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Correction is coming, analysts say as Shanghai Composite hits four-week low amid concerns Beijing will scrap stimulus measures

All leading Chinese benchmarks ended Friday lower, with the Shanghai Composite Index dropping to a four-week low after losing 1.2 per cent. In Hong Kong, the Hang Seng Index rose 0.19 per cent, or 55.21 points, to close at 29,605.01.The Shanghai Composite, which also recorded its worst weekly drop for the year, was down 37.43 points at 3,086.4. Over the whole week it shed 5.6 per cent. On Friday, financials and industrial stocks pushed the index lower – China Merchant Bank was down 3.02 per… Source link

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Vietnam 

Shares rebound, liquidity hits low – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

        HÀ NỘI – Shares rose for the first time this week yesterday, driven by the recovery of heavyweight stocks, but liquidity hit a four-month low amid investor caution. Việt Nam’s benchmark VN-Index edged up 0.41 per cent to close the session at 966.21 points, narrowing the Hồ Chí Minh Stock Exchange’s index loss to 1.7 per cent this week. On the Hà Nội Stock Exchange, the HNX-Index inched up 0.12 per cent to end the day at 105.88 points. The northern market index decreased 1.7 per…

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Vietnam 

VN stocks slide as lack of information hits large-caps – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An investor checks stock prices on his personal tablet at VNDirect Securities Corporation’s trading room. VNA/VNS Photo Tuấn Anh HÀ NỘI— Vietnamese shares slid yesterday as large-cap companies faced strong selling amidst a lack of supportive information while investors awaited discussions on the amended securities law. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange fell 0.91 per cent to end at 988.48 points. The southern market index climbed 0.84 per cent on Monday. More than 165 million shares were traded on the southern bourse, worth VNĐ4.24 trillion (US$182 million).…

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