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Stocks blog: Will Hong Kong, mainland China join the recession party?

Well, that did not last long. A cheer brought on by a delay in tariffs on about US$300 billion worth of Chinese goods has proved to be short-lived. US equities tanked as much as 3 per cent overnight, spooking investors. And as chances of a recession build up, will Asia join the party? China and Germany released weak economic data on Wednesday, while the world’s largest gaming company, Tencent Holdings, posted disappointing results. Meanwhile, protests continue in Hong Kong for a 11th… Source link

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Singapore 

Leaders from neighbouring countries join NDP celebrations, Singapore News

The leaders of Brunei, Indonesia and Malaysia yesterday attended the bicentennial edition of the National Day Parade (NDP) at the Padang. Brunei Sultan Hassanal Bolkiah, Indonesian President Joko Widodo and Malaysian Prime Minister Mahathir Mohamad, and their spouses, were seated among Singapore’s leaders in the VIP stand. They were in Singapore at the invitation of Prime Minister Lee Hsien Loong to attend the Parade, the Ministry of Foreign Affairs (MFA) said in a statement yesterday. Before the Parade, the foreign leaders met PM Lee and Mrs Lee at the National…

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Huawei offers top talent at least five times what their peers are making to join Chinese giant

Ren Zhengfei, founder and chief executive officer of Huawei Technologies Co., speaks during an interview at the company’s headquarters in Shenzhen, China, on Tuesday, Jan. 15, 2019. Ren, the billionaire telecom mogul, broke a years-long silence as his technology empire faces its biggest crisis over three decades of existence. Photographer: Qilai Shen/Bloomberg Source link

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Money 

Japanese companies join manufacturers’ mass exodus from China’s factories as US tariffs on made-in-China products bite

Top Japanese companies including Sony, Ricoh and Asics are orchestrating shifts in production away from China, joining manufacturers from other countries seeking to sidestep US tariffs.Sony said last week that trade-war levies may cause it to raise prices or move production of PlayStation consoles, cameras and projectors outside China, steps that could affect profit for the year ending March by about 10 billion yen (US$94 million).Ricoh, which got about 28 per cent of revenue from the Americas… Source link

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Vietnam 

Vietnamese businesses urged to join circular economy – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Vietnamese volunteers collect waste  on the streets to enhance public awareness. — Photo vietnamplus.vn HÀ NỘI — Vietnamese businesses cannot stand outside the circular economy, especially in the context of global economic integration with commitments on ecological and environmental safety standards through free trade agreements. A circular economy is an economic system combating pollution and achieving more sustainable development by reusing and recycling defunct products. Promoting the circular economy for enterprises requires active innovation, investment in modern technology, limiting energy consumption and using raw materials to produce output products capable…

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Emails, WhatApp doing the rounds of the Big Four accounting firms urge staff to join citywide strike

Unofficial company notices were circulated among staff of the “Big Four” accounting firms in Hong Kong on Friday, urging them to join the general strike planned on Monday to protest against the government’s handling of the recent unrest that has gripped the city.Employees at KPMG, Deloitte, EY, and PwC received the notices from anonymous sources via email or WhatsApp.Sources said employees at these companies have been receiving similar messages that used official company branding, format,… Source link

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Tencent, Nintendo-backed Pokemon join forces to create new video games

Tencent Holdings and The Pokemon Company will jointly develop games, an alliance that may help the Nintendo-backed firm crack the world’s largest mobile gaming arena.Hong Kong-listed Tencent, whose WeChat social media service is used by more than a billion people across China, said its TiMi Studio Group will take the lead in developing titles with the Japanese company behind the popular monster-hunting game franchise.The two have struck a broad agreement on collaboration, Tencent said in a post… Source link

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Money 

Taiwan tech firms set to join exodus from China amid trade war, says Citibank research

A 25 per cent tariff will largely wipe out cost advantages of Taiwanese tech firms on the mainland, accelerating their exodus from China and lead to as many three million job losses, a Citibank study predicted on Thursday.“Taiwan firms’ exports account for at least 10 per cent of total Chinese exports, and 37 Taiwanese firms operating in China are in the top 100 exporters’ list to US,” the report said, adding that because of rapidly rising wages and other costs, labour intensive industries have… Source link

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Shares of Suzhou HYC, the first IPO on Shanghai’s new tech board, oversubscribed 336 times as investors join frenzy

Shares of Suzhou HYC Technology, the first company to launch an IPO on Shanghai Stock Exchange’s new Star Market, have been oversubscribed 335.6 times after investors shrugged off criticism into its dressed up prospectus.The company set its initial public offering price at 24.26 yuan per share, it said in a filing on Wednesday, valuing it at 41 times its 2018 earnings.If the bids below the final IPO price are excluded, the shares were still oversubscribed 257.6 times, the filing added.Suzhou… Source link

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Vietnam 

Vietnamese firms join Samsung consultation programme – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Samsung Việt Nam’s leaders review the improvements at Hà Nội CNC Technology Investment and Development Company Limited under the consultation programme. — VNS Photo HÀ NỘI — Sixty Vietnamese enterprises have participated in a consultation programme supported by Samsung experts since 2015, helping to reduce their error rates and improve productivity. The information was released during a visit to three enterprises in the northern region conducted by Samsung Việt Nam and the Ministry of Industry and Trade on Tuesday as part of the programme. The companies that received visits were Hà Nội CNC Technology Investment and Development Company Limited (CNC…

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