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Easy money is losing its magic as global recession fears spread

The “bad news is good news” mantra has pervaded financial markets ever since the world’s leading central banks embarked on quantitative easing to help shore up recession-ravaged economies during the global financial crisis.It is a testament to the potency of ultra-loose monetary policy that mere hints of additional stimulus have been enough to spark some of the fiercest rallies in markets over the past several years. As recently as the beginning of last January, signals from the Federal Reserve… Source link

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China’s stocks endure longest losing stretch in two months as trade war dims growth prospect

China’s stocks fell on Wednesday, with the benchmark gauge capping its longest run of declines in the past two months, as the US-China trade tension weighs on the growth outlook.The Shanghai Composite Index dropped 0.3 per cent to 2,768.68, capping a sixth straight day of declines and matching a similar stretch that ended on June 6. Hong Kong’s Hang Seng Index rose 0.1 per cent to 25,997.03, snapping a five-day loss.Mainland stocks traded sideways for most of the day before closing lower again,… Source link

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China 

China’s social credit system will not lead to citizens losing access to public services, Beijing says

China’s controversial social credit system will not result in individuals or companies losing access to public services, a senior government official said.Lian Weiliang, vice-chairman of the National Development and Reform Commission (NDRC), China’s state planner, said that “in the past, there were some inappropriate punishment measures for dishonesty in some regions, which have already been regulated and corrected”.The social credit system assigns both positive and negative scores for… Source link

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Shanghai ends seven-day losing streak while Hang Seng Index falls on thin trading

Mainland stocks posted solid gains while Hong Kong’s Hang Seng Index finished lower on thin trading, as China traders hoped for additional stimulus measures from Beijing.All leading Chinese benchmarks ended higher on Monday, with the Shanghai Composite Index up 1.38 per cent, or 39.38 points at 2,892.38. The CSI 300, which tracks blue chips listed in both Shanghai and Shenzhen bourse, also rose 1.21 per cent, 43.29 points, at 3,637.2.Traders shrugged off China’s industrial profit report for… Source link

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Gaining connections – or losing focus

[Sponsored Article] External bridging and internal bonding: unlocking the generative resources of member time and attention spent in online communities KIM, Yongsuk | JARVENPAA, Sirkaa L | GU, Bin  MIS Quarterly, 2018, Vol. 42, No. 1, 265-283    Along with the chance to access a myriad sources of knowledge, going online also opens up countless, and often enjoyable, opportunities for distraction from the task at hand. This, of course, is not a problem for individuals who, say, start off on a… Source link

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Singapore 

Singapore DJ recovers phone 4 months after losing it in Hokkaido snow, Singapore News

When he lost his mobile phone at a ski resort in Japan, he thought it was gone forever. Four months later, the iPhone 8 Plus made its way back to UFM1003 DJ Lee Hong Qing, much to his surprise. He told Shin Min Daily News that he had gone to Hokkaido with his friends for a holiday this January. As it was the winter season, they specifically went to Niseko, a renowned ski resort to ski. He was exceptionally excited as it was his first time skiing outdoors. They took…

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Chinese stocks’ world-beating rally risks losing momentum as Beijing rolls back stimulus

Chinese stocks’ world-beating rally is at risk of faltering, as a meeting of the Communist Party’s highest decision-making body signalled a tougher stance on further policy easing.After an almost 30 per cent surge that has made the Shanghai Composite Index the best-performing equity benchmark this year globally, the gauge slid the most in four weeks on Monday. A change of tone at the Politburo meeting rattled traders’ nerves, with top policymakers re-emphasising deleveraging and curbing asset… Source link

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China ‘regrets’ WTO ruling after losing grain import quota case brought by US

China has promised to manage grain import tariff quotas within World Trade Organisation rules after losing an agriculture trade dispute case with the United States.A World Trade Organisation (WTO) panel decided that China’s system of tariff rate quota system for rice, wheat and corn violated international trading rules. China’s Ministry of Commerce said that it “regrets” the ruling and that it would “seriously study” the decision.The Commerce Ministry’s response is “a statement of acceptance”… Source link

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China 

China’s grey economy losing ability to be employment backstop for laid off industrial workers

With the Chinese economy slowing, concern has increased among Chinese policymakers about the outlook for employment, since ensuring a sufficient number of new jobs is seen as a necessary ingredient in maintaining social stability in the country. Employment was the top priority the Politburo set last July when it shifted its economic policy focus to stabilising growth, leading the government to enact a series of policies to counter rising joblessness. This series will explore the employment challenges faced by different segments of the Chinese economy. The third instalment examines the…

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China 

China economy ‘losing momentum’: analysts gloomy on first major data of 2019

China’s first major economic announcement of 2019 showed a slight rebound in manufacturing and a stronger-than-expected services sector, but analysts said there were clear signs of pressure on the Chinese economy in January. The monthly purchasing managers’ index (PMIs) is among the few indicators available to check the health of the Chinese economy at the beginning of each year. The National Bureau of Statistics (NBS) does not release other economic data for January and February, such as industrial added value, retail sales, and fixed asset investment, until early-March, to avoid…

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