China 

Xi Jinping calls for ‘new Long March’ in dramatic sign that China is preparing for protracted trade war

Chinese President Xi Jinping has called for the nation to embark on a new Long March and “start all over again”, in the most dramatic sign to date that Beijing has given up hope of reaching a trade deal with the United States in the near term.Xi is in Jiangxi province for his first domestic tour since the escalation of the trade war two weeks ago. Jiangxi is where China’s defeated Red Army started its famous Long March in 1934, and Xi’s choice of destination is being viewed as an…

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Vietnam 

Petrol prices drop for the first time since March – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Petrol prices fell on Friday, the first decline following three increases totalling VNĐ3,500 per litre. — Photo vtc.vn HÀ NỘI — Petrol retail prices were reduced at 3pm on Friday, the ministries of industry and trade and finance jointly announced. The prices of RON 95-III fell by VNĐ592 per litre to VNĐ21,599 (US$0.92) and E5 RON 92 by VNĐ200 to VNĐ20,488. Diesel is VNĐ81 cheaper at VNĐ17,614 and kerosene, VNĐ203 lower at VNĐ16,422. The ministries also decided to reduce the use of subsidies from the petrol price stabilisation fund as…

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Hong Kong’s March home prices rise at the fastest monthly pace in 30 months, as city struggles to keep runaway market in check

The prices of Hong Kong’s pre-owned homes rose 2.9 per cent in March from the previous month at the fastest monthly pace in almost three years, as the city’s government struggles for policy responses to keep runaway prices in check.The price index of pre-owned homes rose to 377.5 in March, according to the Rating and Valuation Department’s data. Prices have risen by 4.6 per cent in the first quarter of 2019, recovering from a 9.2 per cent decline from August to December last year. The last time… Source link

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China’s smaller cities regain their mojo in March, as homebuyers return in droves, snapping a four-month deceleration in prices

The prices of China’s new homes snapped their four-month consecutive deceleration in March, recording a modest rebound last month as the easing of price-control regulations among the country’s far-flung smaller cities fuelled demand and prices.Prices advanced by 0.61 per cent in March, from February, at a faster monthly pace than the 0.53 per cent gain a month earlier, according to a Bloomberg calculation using National Bureau of Statistics data. New abodes cost more in March in 65 cities out… Source link

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China’s vehicles sales fell for ninth straight month in March, fuelling consumption concerns

China’s vehicles sales fell for the ninth straight month in March, a further decline that could dampen the world’s second largest economy’s efforts to bolster consumption and counter slowing economic growth.Total vehicle sales fell to 2.52 million in March, 5.2 per cent down from a year earlier, the China Association of Automobile Manufacturers (CAAM) said on Friday.Meanwhile passenger vehicle sales, which includes sedan, minivans, sports utility and crossover utility vehicles but excludes… Source link

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China 

China’s exports recover in March, but imports crash again, as trade war deal nears

China’s exports sector enjoyed a strong recovery in March, after a poor start to the year, but imports continued to slump, suggesting weak demand in the world’s second largest economy.Exports grew by 14.2 per cent, a big jump from the 20.8 per cent fall in January and February, the data for which was combined due to the Lunar New Year holiday in February.This was higher than a survey of economists by Bloomberg, which had forecast growth of 6.5 per cent.Imports, however, shrank by 7.6 per cent,… Source link

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China 

China’s African swine fever epidemic drives up inflation in March

China’s consumer price inflation rose sharply in March, as the country struggles to contain the impact of an African swine fever epidemic that has sent pork prices soaring.Consumer price inflation (CPI) rose 2.3 per cent year-on-year, a large increase on February’s figure, when consumer prices rose by 1.5 per cent.This was in line with than a poll of economists done by Bloomberg, which had predicted a 2.3 per cent rise.According to the National Bureau of Statistics (NBS), which released the… Source link

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Vietnam 

Investors open many new accounts in March – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Investors tend to flock to open new accounts when VN-Index touch its peak. — Photo ndh.vn HÀ NỘI — As many as 21,265 new accounts of domestic investors were opened in March, the highest number since April 2018 when the VN-Index reached its peak of 1,200 points. According to the Việt Nam Securities Depository Center (VSD), the number included 21,176 individual accounts and 89 organisational accounts. In March, the market experienced fairly positive movements, including the time the benchmark VN-Index on the Hồ Chí Minh Stock…

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China 

China’s foreign exchange reserves hit seven-month high of almost US$3.1 trillion in March

China’s foreign exchange reserves rose for a fifth straight month in March, with the increase exceeding expectations, as growing optimism about the prospects for a US-China trade deal offset concerns over slowing economic growth.Chinese reserves, the world’s largest, rose by nearly US$9 billion in the month to US$3.099 trillion, its highest since August, according to central bank figures released on Sunday.Economists polled by Reuters had expected the reserves to rise by US$5 billion to US$3… Source link

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Australia home prices continue to decline in March, but deflation slows

Australian home prices fell again in March as credit conditions remained tight and investors stayed away, though the pace of decline slowed as more auctions found buyers.Monday’s report from property consultant CoreLogic showed home prices nationally fell 0.6 per cent in March, from February when they dropped 0.7 per cent. That was the smallest monthly fall since October. Values were down 6.9 per cent on a year earlier.The index has fallen in 15 of the past 17 months, wiping out more than two… Source link

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