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Real estate professionals expect home prices, sales and rents will drop in next 12 months due to protests, survey finds

Real estate professionals expect home prices, sales and rents will fall in Hong Kong over the next 12 months as protests continue with no end in sight, accordingly to a newly released survey.That is quite a change from the survey in June, the month peaceful protests kicked off in a colourful stream of umbrellas. Then the real estate professionals said they expected prices, sales and rents would go up.The Confidence Index – by the Royal Institution of Chartered Surveyors (RICS) and local online… Source link

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Vietnam 

FPT’s after-tax profit rises by 30% in the first eight months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  FPT entered into two digital transformation agreements with DPDgroup, Europe’s second-largest parcel delivery network last month. — Photo courtesy of FPT HCM CITY — FPT Corporation’ s revenue and pre-tax profit in the first eight months of the year increased by 21.1 per cent and 27.9 per cent year-on-year, reaching VNĐ17.03 trillion (US$733.67 million) and VNĐ 2.99 trillion ($129.88 million), respectively. Profit after tax (PAT) and PAT attributed to the parent company was VNĐ2.49 trillion and VNĐ2 trillion, up 27 per cent and 29.5 per cent over the same period last year. Earnings per share were VNĐ2,961, up 29…

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China 

New home prices rise in just 55 of 70 Chinese cities, the lowest in 18 months, amid Beijing’s efforts to cool the market

The Chinese government’s efforts to take the heat out of the property market appear to be paying dividends, with new data pointing to a slowdown in price gains as a growing number of developers slashed their prices.The price of new homes increased in 55 of 70 cities tracked by the National Bureau of Statistics in August, the lowest number in 18 months. Only 44 cities saw new-home prices increase in February last year.The average cost of a new home rose by 0.58 per cent in August, the smallest… Source link

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Vietnam 

Việt Nam’s textile export value up almost 7% in eight months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Workers at the TNG Thái Nguyên Investment and Trading JSC produce garments for export. Việt Nam’s textile export value rose almost 7 per cent in eight months of this year. VNA/VNS Photo Hoàng Nguyên HÀ NỘI – Việt Nam Textile and Apparel Association (Vitas) said the total export value of textiles, fiber, and cloth reached US$25.7 billion in the first 8 months of the year, up 8.6 per cent year on year, including 60.6 per cent from foreign direct investment (FDI) enterprises. The textile and garment industry spent $14.9 billion to import…

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Vietnam 

State domestic revenue rises 14% to US$34.8 billion in eight months – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  It is also estimated that domestic revenues collected by 55 of all 63 provinces and cities have beat the full-year target, which is set at 65 per cent. — Photo petrotimes.vn HÀ NỘI — The State budget’s domestic revenue in the first eight months of 2019 is estimated at VNĐ808.8 trillion (US$34.8 billion), according to the Ministry of Finance. The figure is equal to 68.9 per cent of the full-year plan and up 13.9 per cent year on year. The domestic revenue is made up…

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AB InBev resumes application for Budweiser’s Hong Kong IPO two months after scrapping plans

Anheuser-Busch InBev said on Thursday it is continuing to explore an initial public offering in Hong Kong of its Asia-Pacific unit, Budweiser Brewing Company APAC, two months after saying it will not proceed with the planned listing.The company’s Asia-Pacific unit has resumed its application for the listing of a minority stake of its shares on the Hong Kong stock exchange, it said on Thursday, adding no assurance can be given on whether the transaction will be completed.AB InBev, the world’s… Source link

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Vietnam 

Corporate bond issuance rises in eight months, transparency still biggest concern – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Cash notes being counted in exchange for bond notes. Commercial banks were still the biggest corporate bond issuers, raising total VNĐ56 trillion, 47.9 per cent of the total recorded in the first eight months of the year. – Photo vietnambiz.vn HÀ NỘI – A total of VNĐ117 trillion (US$5.03 billion) worth of corporate bond notes were raised in the first eight months of 2019, according to SSI Securities Corporation’s research unit. The figure means the successful issuance rate in the first eight months was 90.8 per cent…

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Singapore 

Man jailed 6 months after molesting 10-year-old girl outside Bedok Mall, Singapore News

The young girl was with her friends at a carnival when the man spotted her. Rosli Abdul Hamid, 68, then walked up behind her and molested the girl. On Wednesday last week, Rosli, who has a string of molestation convictions dating back to 1973, was jailed for six months. The court heard that on June 14, the then 10-year-old girl was outside Bedok Mall at 3pm. She had just gone Hari Raya visiting and was at a carnival at the entrance of the mall with her friends. Rosli, who was…

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China and Hong Kong stocks post best weekly gain in two months on trade, policy optimism

Chinese and Hong Kong stocks capped their biggest weekly gain in two months, on prospects of an easing in trade tension and further loosening of monetary policies to stem a slowdown in growth.The Shanghai Composite Index added 0.5 per cent to 2,999.60 on Friday, rising 3.9 per cent for the week. The Hang Seng Index rose 0.7 per cent to 26,690.76, advancing 3.8 per cent in the five-day period. Both the gauges posted their best weekly performances since June 21.Trading of derivatives on the city… Source link

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Citi cuts Hong Kong GDP growth forecast for fourth time this year, says retail and tourism could take months to recover

Citigroup said it could take some time for Hong Kong’s retail and tourism sectors to recover from three months of protests and civil unrest in the city, as the bank lowered its growth forecast for the city’s economy for a fourth time this year.The American bank cut its forecast for Hong Kong’s gross domestic product growth to 0.6 per cent for 2019 and 1.4 per cent for 2020, citing the “visible damage” caused to the city’s retail and tourism sectors.“We think the retail picture likely worsened… Source link

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