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Stocks Blog: Hong Kong cuts base rate after US Fed move

Good day traders — Well, we’ll see whether the Fed’s interest cut stirs any investor passions since it’s been baked in the cake. “We took this step to help keep the U.S. economy strong in the face of some notable developments and to provide insurance against ongoing risks,” Chairman Jerome Powell said, but left door open to more cuts if needed.  We’ll be watching Kweichow Moutai (600519 CH) after its 5 per cent jump Wednesday. Blog readers will remember the prediction in Wednesday’s blog by… Source link

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Global 

Wealthy Chinese apply to move to the UK at the highest rate since 2014 as the trade war puts them off the US

The trade war is driving rich Chinese people to drop their plans to emigrate to the US and seek alternative destinations in Europe, particularly the UK, the latest data suggests.Applications for so-called tier-1 investor visas to the UK by ultra-wealthy Chinese jumped by more than half to 83 – including 10 from Hong Kong – in the first quarter of 2019 from 54 in the preceding three months, according to Growthdeck.That is the highest number since the fourth quarter of 2014, according to the… Source link

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Vietnam 

Many foreign companies move factories to Việt Nam: Savills – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Many companies are moving their factories from other countries to Việt Nam, showing the potential for strong development of industrial real estate. — Photo courtesy of Savills HCM CITY — Many companies are moving their factories from other countries to Việt Nam, showing the potential for strong development of industrial real estate. Savills Vietnam made the statement at a conference on September 4 in HCM City to release its white paper on Việt Nam’s industrial real estate in the first half of this year. They included many factories from China…

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Singapore 

Tong Garden family feud: Brother sues siblings for diverting business; they say move was to save father’s legacy, Singapore News

SINGAPORE – One of the shareholders of the family-owned Tong Garden group of companies, known for its nuts and snacks, is suing his three siblings as he seeks a buyout of his shares. In a suit that opened in the High Court on Monday (Aug 26), Mr Ong Heng Chuan, 62, claims he had been “betrayed” by his brothers, Mr Ong Teck Chuan, 60, and Mr Ong Boon Chuan, 64, who oppressed his rights as a minority shareholder. The plaintiff’s case is that his brothers had diverted the business –…

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Vietnam 

Shares move up with strong divergence among large-caps – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  The afternoon session witnessed a wide divergence among large-caps’ prices. — Photo cafef.vn HÀ NỘI — Shares narrowed gains towards the end of the trading session on Monday but still managed to post slight gains, witnessing a large divergence among large-caps. The VN-Index on the Hồ Chí Minh Stock Exchange inched up 0.11 per cent to end the session at 981.03 points. The index had increased by total 0.58 per cent to finish last week at 980.00 points. On the Hà Nội Stock Exchange, the HNX-Index edged up 0.23…

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China 

China plans to allow foreign investment in VPN services as part of Beijing trial in latest opening up move

China’s effort to further up open up and attract foreign investment continued with the city of Beijing unveiling plans to allow overseas firms to invest in virtual private network services within a trial zone by the end of the year.Foreign investors will be allowed to invest in virtual private network (VPN) services, which allow users to bypass China’s Great Firewall to access services such as Google and Facebook which are currently blocked, although foreign ownership in such providers will be… Source link

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Vietnam 

VN shares move up but liquidity modest – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Vietnamese shares inched up on Wednesday as investors sought safe investment in banks, retailers and construction companies. — Photo Internet HÀ NỘI — Vietnamese shares inched up on Wednesday as investors sought safe investment in banks, retailers and construction companies. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.14 per cent to close at 965.93 points. The VN-Index fell a total of 3.28 per cent over three straight days since last Friday. Shares of banks, retailers and construction companies became attractive to investors on…

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China currency move, US tariffs an ‘unwanted escalation’ in dispute, says Australia

Australia has called on the US and China to negotiate a resolution to their economic conflict, with Treasurer Josh Frydenberg describing the introduction of currencies into the dispute as an “unwanted escalation”.In a television interview on Wednesday, Frydenberg avoided answering a question on whether the US was right to brand China a currency manipulator.“It’s not for Australia to say which side is right and which side is wrong,” he said. “What Australia wants is for the international rules… Source link

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China’s central bank signals move to shore up yuan, de-escalate ‘weaponising’ currency after 24 hours of mayhem on global markets

China’s central bank will sell 30 billion yuan (US$4.3 billion) worth of short-term yuan denominated securities in Hong Kong next week, signalling its plan to absorb offshore liquidity and cushion against further depreciation of its currency versus the US dollar.The People’s Bank of China (PBOC) unveiled the plan in a statement on its official website at 9am on Tuesday, saying the operation would commence with the issuance of central bank bills in Hong Kong on August 14.“It is a clear message… Source link

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