Stocks Blog: Traders brace for more fallout from Star Market opening

Good day, traders. US negotiators are likely to fly to China next week for the first face-to-face talks since President Xi Jinping and US counterpart Donald Trump agreed to a trade war ceasefire in June, the SCMP reports. That follows on the earlier new that Chinese firms are asking for tariff exemptions to buy US agricultural products. That’s still a long way off from a trade deal. But things appear to be moving. We’ve got you covered on what’s driving markets in China and Hong Kong… Source link

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Bargain hunters flock to opening of Japanese discount chain Don Don Donki’s first shop in Hong Kong

Japanese discount chain Don Don Donki opened its first Hong Kong shop, in Tsim Sha Tsui, on Friday, attracting hundreds of tourists and locals eager to snap up a bargain.Located inside the Mira Place mall on Nathan Road, the bargain store featuring a wide range of products from groceries to make-up – like its Japanese counterparts – attracted hundreds to its grand opening.Don Quijote, the international chain store operator that came up with the concept of Don Don Donki for its Southeast Asian… Source link

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Why China’s opening up to more foreign investment is unlikely to narrow its trade differences with the US

China’s National Development and Reform Commission and Ministry of Commerce has released its new “negative list” governing foreign investment in restricted or prohibited sectors. In it, Beijing moved to open a number of areas previously closed to foreign investment, particularly in telecommunications, logistics, energy and culture, by reducing the number included from 48 to 40. The release of the list, while long in the works, came after a meeting between US President Donald Trump and Chinese… Source link

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Global 

China Premier promises ‘faster’ financial opening up to foreign investors days after agreeing US trade war truce

China will scrap foreign ownership caps in the domestic financial industry from 2020, a year earlier than previously expected, Premier Li Keqiang said on Tuesday, in a fresh gesture to woo foreign investors, just days after agreeing another truce in the year-long trade war with the United States.Li did not directly mention the US or the trade war in his speech to the “Summer Davos” forum in Dalian on Tuesday, but said China will open its markets wider to foreign investors, while also repeating… Source link

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China 

China’s need for opening up of financial market highlighted by demise of Baoshang Bank

China is pushing ahead with its vow to open up its US$44 trillion domestic financial sector to foreign investors at a time when creditworthiness of some Chinese lenders is sinking, highlighted by the government’s takeover of the troubled Baoshang Bank.The central bank has already said that it will back a pilot programme in Shanghai to remove the foreign ownership limit on firms providing securities and fund management services, while the local government in the northern municipality of Tianjin… Source link

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Singapore 

The new Funan Mall is on track for its slated opening in Q2 2019, Singapore, Digital News

The new Funan Mall has just obtained its TOP (Temporary Occupancy Permit) and slated to open its doors by Q2 this year. The new Funan Mall has a total floor area of 887,000 square feet, which is about 85% larger than its predecessor Funan DigitaLife Mall. The revamped mall will include office blocks that will house tenants that include established MNCs and co-working office space for the new age workforce. Access to office space will be controlled by facial recognition technology so tenants can say goodbye to cumbersome access cards. There will also…

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Singapore 

Lorry driver jailed for opening door into path of bicycle, Singapore News

A lorry driver who opened the door of his vehicle without checking, causing a man on a power-assisted bicycle (PAB) to slam into it, was jailed for a week yesterday. Loh Kuan Meng, 59, was convicted of one count of causing grievous hurt by a negligent act that endangered human life and the personal safety of others. On Feb 2 last year, Loh was driving along Yishun Ring Road towards Yishun Avenue 2. At about 6am, he parked his lorry close to the left-side kerb on the two-way road. At…

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China 

Apple boss Tim Cook urges China to keep opening up its economy

Apple chief executive Tim Cook has encouraged China to keep opening up its economy, as his company grapples with weaker demand from the nation and uncertainty over its trade war with the United States.“We urge China to continue to open up,” he said during a speech at the annual China Development Forum in Beijing on Saturday. “We see that as essential. Not only for China to reach its full potential, but for the global economy to thrive.”Apple is desperately trying to revive sales in China, which… Source link

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China 

Chinese Premier Li Keqiang says foreign investment law shows Beijing is serious about opening economy further

The passage of the new foreign investment law shows China is serious about addressing foreign investors’ concerns, as it continues to open up its domestic market, Chinese Premier Li Keqiang said on Friday.But while foreign observers agreed the law is a step in the right direction, concerns remain that it does not go far enough. There is also widespread doubt among the foreign business community that it will be effectively implemented.In total, 2,929 lawmakers at the National People’s Congress … Source link

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The People’s Bank of China is quietly reforming, opening up and taking its hands off the yuan

Fifteen years ago, Alan Blinder, a former vice chair of the US Federal Reserve and a professor of economics at Princeton, wrote a book titled The Quiet Revolution, about changes in central banking. Chief among these was a move by some central banks towards open communication and transparency, and away from their long-held tradition of secrecy and surprise. A central bank “goes modern”, to borrow from the subtitle of Blinder’s book, when it starts talking. The Fed was slowly heading in this… Source link

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