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Mainland China stocks post slight gains on Thursday after two days of loses

Mainland China stocks ended slightly ahead on Thursday after two days of losses, giving up most intraday gains as the market awaited further evidence that growth in China’s economy and corporate earnings will pick up.The Shanghai Composite Index added 0.4 per cent, or 10.82 points, to 3,101.46 at the close after rising as much as 1.1 per cent. Trading volumes on the Shanghai exchange were about 6 per cent below its 10-day average, according to Bloomberg. In Hong Kong, the Hang Seng Index fell… Source link

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Geely sees speed bumps ahead as its car sales and earnings sputter while China’s economic engine loses power

Geely Automobile Holdings, whose founder Li Shufu is the largest single shareholder of Daimler, said sales of its portfolio of brands including Lynk and Volvo are likely to remain flat this year in China, as economic growth slows down in the world’s largest vehicle market.The Zhejiang-based carmaker sold 44 per cent fewer vehicles in December, causing Geely to miss its 2018 sales target by 5 per cent.Car sales in China sputtered last year, as three decades of double-digit percentage growth… Source link

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Vietnam 

Yeah1 loses half of its market value despite leaders’ efforts – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Media firm Yeah1 Group (YEG) has lost nearly VNĐ4 trillion (US$171.7 million) – half of its market value – since early this month, in spite of efforts by company leadership to “save” the price of its stock by purchasing large amounts of YEG shares. Yeah1 has nearly 31.28 million shares listed on the Hồ Chí Minh Stock Exchange (HoSE) with the code YEG. The company’s shares hit the daily decline limit of 7 per cent in each of the last 11 consecutive…

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Singapore 

Daughter of Hour Glass founders loses appeal, to start jail term for drug abuse next month, Singapore News

SINGAPORE – Audrey Tay May Li, 45, the daughter of the founders of luxury watch retailer Hour Glass, will start her jail sentence for drug abuse next month after her appeal was dismissed by the High Court on Friday (March 15). In October last year, Tay was sentenced to 22 months’ jail for repeatedly abusing drugs for two years. On one occasion, she had turned up intoxicated for a psychiatric assessment at the Institute of Mental Health. The former public relations consultant, who is divorced, was arrested in August 2015…

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Singapore 

Woman trapped under car in Punggol accident loses left foot and has operations to save other foot, Singapore News

SINGAPORE – A woman who was trapped under a car in an accident in Punggol earlier this month has lost her left foot and undergone multiple surgical operations to save her remaining foot. Madam Alice Hee, who is in her 50s, was on her way to service at the Church of the Transfiguration with her husband and daughter on Feb 3 when the accident happened. They were waiting to cross the road at Punggol Central near the church when a car slammed into the family tailfirst, pinning Madam Hee to…

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Vietnam 

VN loses out on global market without rice brand – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News Hoàng Nguyên LONG AN — Trung An Hi-tech Farming JSC in the Cửu Long (Mekong) Delta has been exporting rice under foreign brand names for many years though it is itself one of the biggest rice exporters in Việt Nam. Speaking to the media on the sidelines of the third Vietnamese Rice Festival in Long An Province last December, Phạm Thái Bình, the company’s director, said to let consumers know about Vietnamese rice products, exporters like his company have to be able to show…

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Hong Kong loses out to mainland China, Singapore when it comes to marketing, financial sector pay, survey shows

If you are a sales and marketing manager with more than 10 years of experience, then mainland China is where you should be. Average salaries there are at least double that of Hong Kong, according to a survey by recruitment firm Links International. The study polled more than 700 respondents in Hong Kong, mainland China and Singapore. It found the average monthly salary for general managers working in sales and marketing on the mainland was between 200,000 yuan (US$29,769) and 300,000 yuan. Their counterparts in Hong Kong received HK$100,000 (US$12,749)…

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Buyer of house on The Peak in Hong Kong walks away from deal – loses US$4.6 million deposit

A buyer has walked away from the purchase of a luxury house on The Peak, losing a deposit of some HK$36.09 million (US$4.6 million) in the latest sign of trouble in Hong Kong’s property market. The unidentified buyer did not proceed with the transaction for House 16 on Mount Nicholson, according to official documents, after agreeing to buy it for HK$721.88 million on December 31. “It is definitely not good news for the market,” said JLL executive director Joseph Tsang. “There are stories about buyers walking away from their purchases…

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US stocks suffer their worst week since 2011, as tech sector is punished and the Nasdaq loses another 3 per cent

US stocks sank to a 19-month low on Friday to close out their worst week since August 2011, with every sector losing ground and heavy selling in technology shares driving the Nasdaq indexes into a bear market. Heavy volume sparked by the simultaneous expiration of futures and options lashed stocks that have been under pressure all week from concern over rising interest rates and the threat of slower global growth. Renewed personnel turmoil in the White House and the growing likelihood of a government shutdown added to investor anxiety before…

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Money 

Here’s who wins and who loses in US-China trade war: Vietnam | This Week In Asia

With Asia’s business community increasingly resigned to a lengthy trade war between Beijing and Washington, Vietnam has picked up some business from its northern neighbour. While outsourcing to Vietnam is nothing new – the country received US$35.88 billion in foreign direct investment (FDI) last year, according to government statistics – Chinese firms are increasingly citing the trade war as a motivation to move south. Last month, GoerTek, the Shandong-based manufacturer of Apple’s Airpods, announced it would move production of the wireless headphones to Vietnam, with chief executive Jiang Bin citing…

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