China 

China cuts short-term interest rates slightly in latest bid to help companies hit by US trade war

China trimmed its market reference rate for new short-term bank loans on Friday, taking another step towards helping companies hit hardest by the trade war with the United States and the overall domestic economic slowdown.The September loan prime rate, the average taken from 18 selected commercial banks, was set at 4.20 per cent for one-year maturities, down from the 4.25 per cent set in August, according to the National Interbank Funding Centre, a unit of the People’s Bank of China (PBOC).The… Source link

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Indonesia’s latest flip-flop on speeding up ban on nickel-ore exports could scare away investors

Indonesia’s surprise plan to roll out a ban on nickel-ore exports two years early could scare foreign investors away from Southeast Asia’s biggest economy, analysts say, as it cements a reputation for policy flip-flops.Nickel prices soared this week on supply concerns after Indonesia, the world’s top producer, announced the ban would start next year instead of 2022 in a bid to process more minerals at home.Ending exports of bauxite, used to make aluminium, and copper concentrates is still… Source link

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Sales flop at residential project in Tuen Mun – the latest worrying sign of pressure on property market amid protests

Sales of flats at a new development in Tuen Mun flopped on Sunday, as potential buyers grow cautious amid anti-government protests and fresh data showing prices of lived-in homes have fallen.Only 19 units, or 17 per cent of 113 flats put up for sale at Wing Tai Properties’ Oma Oma development in Tuen Mun, had sold as of 2pm on Sunday, according to sources.“It is the poorest sales outcome in the past two months ,” said Sammy Po, chief executive of Midland Realty’s residential development. … Source link

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Money 

China cuts banks’ reserve requirements in latest effort to boost economy amid US trade war

China’s central bank announced on Friday that it will cut the required reserve ratio for all commercial banks, freeing up long-term funding of around 900 billion yuan (US$126 billion) that banks can use to increase lending and support government efforts to shore up the real economy.The 0.50 percentage point cut in the amount of reserves banks are required to hold at the central bank will be effective from September 16, the People’s Bank of China (PBOC) said.The required reserve ratio cut would… Source link

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Money 

China’s latest efforts to focus on fine tuning ‘weak economic links’ as downward pressure mounts

China is continuing to push ahead with fine tuning policy rather than engaging in a large-scale easing even as analysts begin to revise down their expectations for growth next year amid the escalation of trade tensions with the United States.The country’s cabinet, the State Council, on Wednesday ordered government agencies to more effectively use the countercyclical adjustment tools at their disposal. Specifically, it called for more subsidies for low-income consumers, more special purpose bond… Source link

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China 

China seeking moral high ground against Donald Trump with WTO compliant over latest US tariffs, analysts say

China’s move to file an official complaint with the World Trade Organisation over new tariffs from the United States on Chinese products is largely a symbolic attempt to gain the moral high ground by supporting the international trading system amid the ongoing trade war, analysts said.The Ministry of Commerce announced in a statement on Monday, a day after Washington imposed the first batch of new tariffs on US$300 billion of Chinese imports, that China had filed a lawsuit against the US under… Source link

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Latest round of tariffs to hit pork, tech, furniture and clothes, creating a minefield for stock investors

Investors, watch out: new tariffs that kicked in on Sunday will hit Chinese companies that export things like furniture and smartphone components, as well as exporters of pork from the US like Hong Kong-listed WH Group.Manufacturing stocks that will feel the sting include furniture maker Man Wah Holdings, analysts say, while technology stocks that could feel the latest tariff punch include Sunny Optical, ZTE and ASM Pacific Technology.“At each round of escalation in the US-China trade war,… Source link

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China 

China-US trade war: latest tariffs take effect as sides seek to get talks back on track

A new round of punitive tariffs imposed by the United States and China took effect on Sunday in the latest escalation of their 14-month trade war, and as the two sides continued to struggle to reach agreement on a possible resumption of negotiations.The measures came into effect at 12.01pm Beijing time, 12.01am in Washington.The US levied a new 15 per cent tariff on about US$110 billion worth of Chinese products, including clothing, food, household goods, Bluetooth ear buds and televisions. It… Source link

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China 

China’s central bank sets new floors for mortgage rate in latest bid to curb speculation

China’s central bank has set new floors for the country’s mortgage rate from October 8, in its latest move to curb property speculation, stabilise prices and control asset bubbles.For first-home buyers, the mortgage rate floor will be the latest monthly loan prime rate (LPR), which was 4.85 per cent in August, the People’s Bank of China said in a statement on Sunday.That is lower than the previous lending benchmark of 4.90 per cent, although some commercial banks extend a discount of 5 to 10… Source link

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China 

China hopes Donald Trump ‘honours’ earlier hands-off stance on Hong Kong despite latest US trade war link

China is hopeful that US President Donald Trump can “honour” his earlier hands-off stance on Hong Kong, although the Commerce Ministry spokesman neglected to mention the latest statement from the American leader linking the trade talks between Washington and Beijing with the anti-government protests in the city.Trump had been distancing himself from the tensions until earlier this week saying that trade talks with China would be hampered if Beijing used violent means to crack down on the… Source link

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