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A year into trade war, Wall Street is the latest front for US suspicions about China

Chinese wealth manager Jupai Holdings started trading on the New York Stock Exchange in July 2015. A large firm investing money for well-off Chinese, Jupai was touted as a growth story for US investors – a way to tap into the budding but fast-growing Chinese financial market.It did not turn out as promised. Just two years later, the Shanghai firm was sued by Ninespot, a California-based video live streaming start-up, for fraud and breach of contract.According to court documents, Jupai failed to… Source link

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China 

Beijing plays down Commerce Minister Zhong Shan’s inclusion in latest US-China trade war talks

The participation of China’s Commerce Minister in the latest trade discussion with the United States was “normal”, China’s Ministry of Commerce said on Thursday, playing down the eye-catching change in Beijing’s negotiating team.Zhong, 64, joined Vice-Premier Liu He’s phone conversation with US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin on Tuesday – the first phone call between top negotiators since President Xi Jinping and US counterpart Donald Trump agreed… Source link

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Vietnam 

E-wallets’ latest converts: HCM City street vendors – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A juice stall on District 1’s Nguyễn Văn Chiêm Street has QR codes for Momo and GrabPay e-wallet services. – VNS Photo Việt Dũng HCM CITY — From morning to early afternoon Nguyễn Văn Chiêm in HCM City’s District 1 is bustling with food vendors selling breakfast and lunch and customers coming to eat. It is somewhat startling to see some of the vendors accepting payment by scanning QR codes using e-wallets since it is still a relatively new trend among street vendors in the city. …

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Storm in a teacup? Trump goes after all the tea from China with latest tariff push as trade war threatens to boil over

Americans hoping to quench their thirst with a refreshing glass of iced tea may be in for a nasty surprise as temperatures rise this summer, according to US tea importers.Tea, along with fireworks and footwear, is on the list of goods that will have import duties imposed on them as soon as July if the US carries out its threat of adding 25 per cent tariffs to thousands of products from China.The proposed tariffs would increase prices for consumers and mark the latest escalation of a trade war… Source link

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Vietnam 

Petrol prices drop in latest review – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A PetroVietnam Oil Corporation gas station. The retail price of bio-fuel E5 RON 92 has been reduced by VNĐ269 per litre to a maximum level of VNĐ20,219 (US$0.87) per litre. — Photo vietnamfinance.vn HÀ NỘI — The retail prices of oil and petrol were adjusted down from 3pm last Saturday following a decision by the ministries of Finance, and Industry and Trade. The two ministries review fuel prices every 15 days to adjust domestic prices in accordance with swings in the global market. Accordingly, the retail price of bio-fuel E5…

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China mulls scrapping benchmark lending rates in line with market conditions in latest reform move

China is considering scrapping its official benchmark lending rates to allow banks to react to market conditions in the latest move to liberalise interest rates, People’s Bank of China governor Yi Gang said on Tuesday.Yi’s comments in the middle of the trade war with the United States may be a bid to show that Beijing remains determined to continue market-oriented reforms rather than embark on aggressive monetary easing to help stabilise the economy.Market reforms should continue to benefit… Source link

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Stocks Blog: China, Hong Kong traders hit by latest gloomy trade comment by Trump

Lots to digest this morning, traders. The finger-pointing between the US and China over who screwed up a trade deal that once looked near done continues. The latest from US President Donald Trump: “We’re not ready to make a deal.”  Meanwhile, e-commerce giant Alibaba, traded in the US, is looking at a secondary listing in Hong Kong to raise US$20 billion, Bloomberg reports. The exchange had no comment when approached by SCMP reporter Enoch Yiu. We’ll keep you up on all the action in mainland… Source link

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Stocks Blog: China, Hong Kong markets face Trump's latest mixed messages on trade, tech

Good morning, traders — Well, TGIF, because it has been one rocky week, with tech storms unleashed by US President Donald Trump. In the latest overnight, Trump called Hauwei Technologies “very dangerous” from a security and military standpoint, but also said the US-blacklisted Chinese telecommunications equipment maker might be dealt with in trade negotiations with Beijing.   Meituan Dianping (3690 HK) beat the highest estimates in its first quarter revenue report. And the Hang Seng Index… Source link

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Chinese electric carmaker Xpeng the latest to jump into ride-hailing despite ongoing losses at market leader Didi

Chinese electric vehicle start-up Xpeng Motors is making a foray into the country’s ride-hailing market, a move that will intensify competition in a business that has yet to deliver profits for industry giants Didi Chuxing and Uber.Alibaba-backed Xpeng, which received a ride-hailing operation licence from Guangzhou authorities on Monday, could start trial services as early as this month, according to people familiar with the matter.“It will be an important component to Xpeng’s ecosystem, with… Source link

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Singapore 

Man charged in latest NUS Peeping Tom case, Singapore News

The National University of Singapore (NUS) student who allegedly filmed a female hallmate in the shower last Saturday changed his clothes immediately to avoid being identified, said the police. The latest alleged culprit in a string of Peeping Tom cases reported at local universities in the past month, Joel Rasis Ismail, 26, was charged in court yesterday with one count of criminal trespass and one count of insulting the modesty of a 23-year-old woman. According to charge sheets, the Singaporean allegedly trespassed into a female bathroom at Kuok Foundation House,…

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