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Axed Budweiser IPO cost investors up to HK$36 million in interest payments, highlights problem of long settlement period in Hong Kong

The cancellation of Budweiser Brewing Company APAC’s mega flotation has hurt more than just Hong Kong’s global listings ambitions. Retail investors, who had borrowed a combined HK$38 billion (US$4.8 billion) for the initial public offering, have lost thousands of dollars in interest payments, an issue that has once again highlighted the city’s lengthy listings process.The investors will have to bear the cost, stockbrokers said, after brewing giant Anheuser-Busch InBev scrapped the US$9.8… Source link

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China, Hong Kong shares little changed on weak sentiment after Trump notes there is ‘a long way to go’ on tariffs if he feels like it

Mainland and Hong Kong stocks ended little changed, as the US-China trade dispute returned to investors’ minds after US President Donald Trump raised the possibility of imposing more tariffs – if he wanted.The Shanghai Composite Index on Wednesday fell 0.2 per cent to 2,931.69, with liquor and health care stocks among losers. It was the benchmark’s second straight day of losses.Meanwhile, the Shenzhen Composite Index inched ahead by 0.16 per cent to 1,574.35. Information technology, real estate… Source link

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Vietnam 

Vĩnh Long Province’s investor-friendliness pays handsome dividends – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An investment promotion conference in Vĩnh Long last year. The Mekong Delta province is working hard to create a favourable environment for foreign investors and its efforts are paying off. VNA/VNS Photo VĨNH LONG – A favourable geographic location, abundant resources and a dynamic and investor-friendly administration make Vĩnh Long Province an optimal destination for foreign direct investment. Located in the centre of the Mekong Delta, it makes intensive efforts to attract FDI. The administration has worked hard to draw up measures and plans to improve the business climate…

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Why the stock market rally will not last long, despite dovish moves by central banks

Few would have predicted at the end of last year, when stock markets were in free fall, that global equities would bounce back so spectacularly.In the first half of 2019, the MSCI All-Country World Index, a leading gauge of shares in developed and developing economies, surged almost 15 per cent, its best first half of the year since 1997. The fierce rally has left the index just 4.5 per cent shy of its all-time high reached in January last year.The dramatic gains in stock prices stem mainly… Source link

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Chinese excavator giant Sany digs in for long haul, sidesteps Trump tariffs with US-based production

Sany Heavy Industry, China’s biggest heavy machines manufacturer by sales, last week started assembling from scratch hydraulic excavators at its US headquarters in suburban Atlanta, Georgia.The company is putting together its SY215 and SY265 models from broken-down parts sourced from China, as well as the United States, Japan and South Korea, in what is known as completely knocked down production. Up until October 2018, it was importing only complete machines from China.“They are in the medium… Source link

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Vietnam 

FMCG market forecast to grow strongly in the long term – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  HCM CITY — The fast moving consumer goods market will remain strong in the long term in the country’s four major cities of Hà Nội, Đà Nẵng, HCM City, and Cần Thơ and see an acceleration in rural areas, according to Kantar Worldpanel, a global data, insights and consulting company. In its latest FMCG monitor report, the company said though oil and electricity prices increased in April the consumer price index remained under control in the first four months, growing at the lowest rate in the last three years. Retail…

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Vietnam 

Bamboo Capital, Omani partner inaugurate Long An Province solar power plant – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The inauguration of the BCG – CME Long An 1 solar power plant in Long An Province’s Thạnh Hóa District on June 23. — VNS Photo Xuân Hương HCM CITY — The BCG – CME Long An 1 solar power plant in Long An Province has been inaugurated by the joint venture between Bamboo Capital Group and the Việt Nam-Oman Investment Fund. Nguyễn Hồ Nam, Bamboo chairman, said the plant in Thạnh An Commune, Thạnh Hóa District, has a capacity of 40.6 MWp and cost VNĐ1.088 trillion (US$46.57 million).…

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China 

China thinks it can weather Trump’s trade storm. It can, but not for long. Likewise the US

When Donald Trump and Xi Jinping get together at the end of this week for their “extended meeting” on the fringes of the Osaka G20 summit, there will be little hope on either side for a peace deal to end the US-China trade war any time soon. For both leaders, domestic politics makes an early deal unlikely.But if the hopes for peace on either side are slight, so too are the fears of a protracted conflict that threatens to drag on into the next year. Policymakers in both Washington and…

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Singapore 

Frenzied shoppers and long queues as new Uniqlo x KAWS collection drops in Asia, Singapore, China News

Uniqlo’s just dropped a new collection and shoppers in Asia have gone nuts. The Japanese clothing company released its latest collaboration with American contemporary artist KAWS on Monday (June 3), and the collection’s been overwhelmingly popular with fans. The KAWS: Summer Collection features 12 t-shirt designs for adults, six for kids, as well as three tote bags, with prices starting from $19.90.  But a quick check on Uniqlo’s Singapore website shows that most designs have run out of sizes, and popular ones have already been snapped up from its online inventory.  That’s no surprise considering the…

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China 

China asks state media to pick battles carefully with long US trade war looming, sources say

China hopes to appeal to potentially sympathetic voices on the other side of the trade war by asking its government officials and state media outlets to avoid being overly and often unnecessarily critical of the United States and its key players, even as it prepares for a protracted trade and technology confrontation with Washington, according to sources who were briefed on the latest government instructions.Internal briefings held this week reflected the Chinese leadership’s line of thinking… Source link

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