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Hang Seng Index drops to lowest level since January as a second day of disruptions at Hong Kong’s airport roil sentiments

Hong Kong’s benchmark stock index plunged to its lowest level since January, as weak corporate earnings resulting from the year-long US-China trade war took their toll, while a second day of disruptions at the city’s airport weighed on sentiments.The Hang Seng Index closed 2.1 per cent down at 25,291.28, hitting its lowest level since January 3. Smartphone parts maker Sunny Optical Technology was the sole gainer out of the 50 component stocks on the index, closing 0.5 per cent higher at HK$86… Source link

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Hong Kong stocks sink to lowest level since January; Swire Pacific thuds to more than one year low

Hong Kong kicked off the week in a downbeat mood on Monday, as weeks of political protests in the city took a toll of markets, led by declines in major conglomerate Swire Pacific.The Hang Seng Index closed at its lowest level since January, dropping 0.44 per cent to 25,824.72.Swire Pacific, the parent company of carrier Cathay Pacific Airways, tumbled 6.2 per cent to close at HK$76.70, its lowest level since May 2018. Cathay shares slumped 4.9 per cent to close at HK$9.80, their lowest level in… Source link

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Vietnam 

January to July retail sales gain 11.6 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Customers in a Big C store. Retail sales of products in the first seven months of 2019 rose 12.5 per cent year on year to VNĐ2.13 quadrillion. — Photo thoibaotaichinhvietnam.vn HÀ NỘI — Total retail sales of goods and services in Việt Nam in the first seven months of the year rose 11.6 per cent from the same period in 2018 to reach VNĐ2.85 quadrillion (US$122.5 billion). The growth rate was lower than the rate recorded in 2018 but higher than those of the previous three years, according to the General Statistics…

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Hong Kong stocks fall to lowest level since January as trade war weighs down risk appetite

Hong Kong stocks declined on Monday to the lowest level in almost four months while shares in China also dropped, as risk appetite remained low amid protracted trade tensions between China and the US.The Hang Seng Index closed 0.6 per cent lower at 27,787.61, the lowest level since January 30. The benchmark rose as much as 9 per cent since the end of January to an April high, but has since given up all the gains as the return of trade tensions prompted weeks of sell-off.In mainland China, the… Source…

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Vietnam 

State budget revenue in January to April period up 13.9 per cent – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  January – April budget revenue was up nearly 14 per cent, running a surplus. — Photo vneconomy.vn HÀ NỘI – State budget revenue in the January-April period was estimated at VNĐ517.8 trillion (US$22 billion), equivalent to 36.7 per cent of the Government’s planned figure for the year and up 13.9 per cent over the same period last year, according to the latest report from the Ministry of Finance. Domestic revenue totalled VNĐ424.96 trillion, or 36.2 per cent of the year’s plan. Revenue from crude oil was estimated at VNĐ18.3 trillion, a…

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AirAsia says it may set up base in Macau, the first overseas carrier to throw its hat in since the end of Air Macau’s monopoly in January

AirAsia, the region’s largest low-cost carrier, may set up a base in Macau to serve Chinese travellers, becoming the first foreign airline to throw its hat into the ring since a January policy that ended Air Macau’s quarter-century monopoly in the gambling hub.“Entering China could be via Macau,” said AirAsia’s founder and chief executive Tony Fernandes, in an interview with South China Morning Post during Credit Suisse’s Asia Investment Conference in Hong Kong. “We do not have to be in… Source link

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Hong Kong’s January home prices advance, taking a breather from a five-month decline

Hong Kong’s home prices took a breather in January from their five-month drop, vindicating earlier predictions by some analysts that transaction values could reverse last year’s 9.2 per cent decline.The overall price index of pre-owned homes rose by less than a tenth of a percentage point to 359.5 last month, after having dropped 9.2 per cent from August to December, according to data by the Rating and Valuation Department.The halt in the decline had come earlier than the expectations of… Source link

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Vietnam 

VN’s January trade turnover at highest level in years – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The textile and garment, equipment and parts, and footwear sectors contributed the most to January’s positive performance. — Photo vneconomy.vn Viet Nam News HÀ NỘI — Việt Nam’s trade turnover reached US$43 billion in the first month of 2019, the best January performance seen in the last few years, according to the General Department of Vietnam Customs. This figure is $2.9 billion higher than in January 2018 and nearly double the average figure of $23 billion per month recorded in the 2012–18 period. In addition to the…

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Vietnam 

January auto imports 46 times higher than last year – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Cars at the Chu Lai-Trường Hải Automobile Manufacturing and Assembly Complex in the central province of Quảng Nam. — VNA/VNS Photo Viet Nam News HÀ NỘI — Việt Nam imported nearly 11,700 cars worth more than US$273 million in the first month of this year, marking the fifth consecutive month with a volume of at least 10,000 units, according to statistics from the General Department of Customs. This figure is about 46 times higher than in January last year, which saw particularly low import numbers – just 246…

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China 

China’s Premier Li Keqiang warns central bank of ‘new potential risks’ posed by record loans in January

Premier Li Keqiang has warned of the “new potential risks” that China’s record level of new loans in January could bring to the financial system.The People’s Bank of China (PBOC), China’s central bank, confirmed that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month, almost triple the 1.08 trillion yuan (US$160.8 billion) of loans in December and beating the 3.06 trillion yuan from the same period last year.Total social financing, the more broadly defined measure of… Source link

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