Vietnam 

VN stocks fall, mounting sell pressure hits large-caps – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An HDBank office. The bank’s shares inched down 0.2 per cent on Thursday. It is among bank stocks that were hit by mounting selling pressure. — Photo thuonggiaoonline.vn HÀ NỘI — Vietnamese shares finished Thursday on a negative note as large-cap firms were unable to hold up against mounting selling pressure. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.66 per cent to close at 976.05 points. The VN-Index gained total 1.04 per cent in the previous two days. Selling pressure increased among large-cap stocks and pulled the…

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Home 

China cracks down on subsidies to zombie companies as US trade war hits economy

As part of its goal to make the economy more efficient, China unveiled a new reform plan on Tuesday to make it easier for companies, including zombie state-owned enterprises, to be closed down.It intends to better allocate resources to unleash the economy’s growth potential, which is under pressure from the trade war with the United States, by lowering the cost of closing down insolvent firms.The government “must fully employ the decisive role of the market in resource allocation, standardise… Source link

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Global 

Singapore’s economy shrinks as US-China row hits global trade … and it’s set to get worse, analysts say

Singapore’s economy unexpectedly contracted in the second quarter as exports continued to plunge amid a worsening global economy.Gross domestic product in the trade-reliant city state declined an annualised 3.4 per cent in the quarter compared with the first three months of the year. That compared with growth of 3.8 per cent in the first quarter and 0.5 per cent expansion forecast in a Bloomberg survey of economists.Singapore’s heavy reliance on trade and its complicated integration in regional… Source link

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China 

China’s service sector growth slows to lowest level in four months as trade war hits orders, sentiment

Speaking at a media briefing on Tuesday, Wang Bin, deputy director of the Ministry of Commerce’s market operation department, said retail sales growth for the first half of 2019 could rise 8.2 per cent, a slight increase from the 8.1 per cent recorded in the first five months. Photo: Simon Song Source link

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Vietnam 

Vietnamese overseas investment hits nearly $200m – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Customers register for services with Mytel – Viettel’s brand in Myanmar. Photo thanhtra.com.vn  HÀ NỘI – Vietnamese firms poured nearly US$200 million into 90 projects abroad in the first half of this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. Of the total, more than $100 million came from 71 newly-licensed projects while the remainder came from 19 others which raised their capital by $96 million. Most of the overseas investment focused on science and technology at $82 million, 41 per cent of the total. It was…

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Vietnam 

Gold hits one-year high on global heat – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers buy gold at a Phú Quý store. Gold prices at most companies have increased more than VNĐ1 million in the last two days. — VNA/VNS Photo Đức Duy HÀ NỘI — Local gold prices hit a one-year high on Friday as global markets continued to heat up. Most enterprises hiked prices to more than VNĐ39 million (US$1,669) per tael in the morning after spot gold climbed to six-year highs of $1,406 per ounce on the global market (one tael is equivalent to 1.2 ounces). In Việt Nam, the yellow metal slowed in the early afternoon…

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Vietnam 

Lack of positive news hits market – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Customers at a Mobile World store in HCM City. The company’s stock is among some large-caps which maintained the rally yesterday. Photo doanhnhanduongthoi.vn   HÀ NỘI — Vietnamese shares tumbled on Tuesday as a lack of supportive business information dampened investor confidence in the market’s short-term growth potential. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange dropped 0.09 per cent to close at 962.07 points. Liquidity remained low with nearly 136.4 million shares traded on the bourse, worth VNĐ3.2 trillion (US$136 million). On the southern exchange, 140 stocks…

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Vietnam 

Convenience retail channel hits record growth rates – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers shop at a convenience store in HCM City. Photo sggp.org.vn HCM CITY — As consumer demand for convenience soars across Southeast Asia, convenience retail channels are experiencing record growth rates and higher rates than any other retail channel, according to a new study by global measurement company, Nielsen. What’s Next for Southeast Asia, which explores the changing FMCG retail landscape and consumer needs, highlights that FMCG sales growth in convenience stores across Southeast Asia reached 8.3 per cent last year. Malaysia saw the strongest growth in the region (up 17 per…

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Property 

Worsening US-China trade war hits Hong Kong’s office rental market as companies put expansion plans on hold

The worsening US-China trade war, which continues to depress stock markets and the economy, is affecting Hong Kong’s office leasing market, as a growing number of companies are holding back their expansion or relocation plans, say market observers.Hedge funds, asset management companies and foreign trading firms are taking a wait-and-see approach.Hong Kong’s benchmark Hang Seng Index lost 9.42 per cent of its value last month after the US escalated the trade war by announcing an increase in… Source link

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Home 

China’s debt ratio hits record high as efforts to offset US trade war mean ‘there is no such thing as a free lunch’

China’s efforts to offset the affects of the trade war with the United States have resulted in its overall debt level reaching a record high in the first quarter of 2019, with authors of a new study remarking “there is no such thing as a free lunch”.Beijing policymakers scaled back their deleveraging campaign in a bid to help the world’s second largest economy, resulting in a growth rate of 6.4 per cent in the first quarter, the same rate as the fourth quarter last year, confounding analysts’… Source link

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