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China and Hong Kong stocks climb on record new lending and trade deal outlook

China and Hong Kong stocks rose for the first time in three days after official data showed that new lending by mainland banks surged to a record in January and on optimism that the Asian nation and the US are close to clinching a deal to resolve their trade dispute.The Shanghai Composite Index rose 1.3 per cent, or 33.68 points, to 2,716.06. Hong Kong’s Hang Seng Index added 1.4 per cent, or 378.93 points, to 28,279.77.Traders cheered the news that China’s banks are pumping more money into the… Source link

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Vietnam 

VN stocks jump on 2019 earnings outlook – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Vietnamese shares rose strongly on Tuesday to extend gains for a second session as investor sentiment remained positive on 2019’s corporate performances. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 1.24 per cent to close at 937.54 points. The southern market index has increased by total 3.18 per cent in the last two trading days, setting its two-month high since December 14. More than 188.4 million shares were traded on the southern exchange, worth VNĐ4.2 trillion (US$180.2…

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China 

China factory outlook darkens due weak domestic demand, but how will Beijing respond?

The larger-than-expected deterioration in manufacturing sector activity in January paints a particularly grim picture of the Chinese economy, since much of the decline was due to weaker domestic demand, suggesting the government will have to do more to spur economic growth at home. The Caixin manufacturing purchasing managers’ index (PMI) slumped to 48.3 in January from 49.7 in December, meaning Chinese manufacturing sector activity contracted for the second month in a row, and at a faster speed than the month before. The index fell to its lowest since February 2016…

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China and Hong Kong stocks swing on outlook for trade talks, rates and earnings

Chinese and Hong Kong stocks swung between gains and losses Wednesday as traders sorted through a platter of rapidly approaching market-moving news: the US-China trade talks, a decision on the key US interest rate, and corporate earnings at home. The Shanghai Composite Index added 0.1 per cent to 2,595.99 in morning trading after falling as much as 0.6 per cent. The Hang Seng Index also gained 0.1 per cent to 27,546.77. Trading on the mainland’s exchanges was light as the markets will be shut all of next week for the…

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Vietnam 

Moody’s rates Nam Á Bank for first time, stable outlook – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers conduct transactions at a branch of Nam Á Bank. The bank was given a B2 stable outlook rating by Moody’s. – Photo ndh.vn Viet Nam News HÀ NỘI — Credit ratings agency Moody’s Investors Service has assigned its first ratings and assessment for Việt Nam’s Nam Á Commercial Joint Stock Bank, giving it a B2 stable outlook. According to Moody’s, the ratings assigned to Nam Á Bank were based on the progress the bank had made on recovering problem assets, and an improvement in profitability. At the…

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Israeli online broker eToro targets Southeast Asia’s young and savvy investors with global outlook

eToro, the Israeli online broker previously known for offering highly leveraged trade on bitcoin, is planning expansion in Southeast Asia and potentially Hong Kong, as it sees growing demand from thirty-somethings seeking to trade beyond their domestic markets. Chief executive Yoni Assia said he expects Asia this year to contribute up to 30 per cent of the company’s total revenue, up from 15 per cent in 2018, thanks to growing markets in Vietnam, Malaysia, Philippines and Thailand for cryptocurrency trading services. “In Asia’s competitive landscape, we don’t see a lot…

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Homebuyers spring into action after developers slash prices, cutting inventory as market outlook darkens

Wing Tai Properties, the Hong Kong unit of Singapore developer Wing Tai Holdings, sold more than 90 per cent of its flats on offer at Tuen Mun on Sunday, with some units priced as low as HK$9,488 per square foot (US$1,210), reflecting the weakest level seen in the neighbourhood since 2015. As of early evening, Wing Tai sold 108 out of the 118 flats in the first batch made available at the Carmel apartment project on Castle Peak Road in Tuen Mun. Prices for the units ranged from HK$3.32 million…

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China Evergrande targets modest sales growth for 2019 amid weak outlook for property market

China Evergrande Group, one of the country’s biggest property developers, has set its sales growth target for 2019 at the lowest in at least five years amid weakening demand. Evergrande is targeting 600 billion yuan (US$88 billion) in contracted sales this year, according to a filing to the Hong Kong stock exchange on Monday. That is 9 per cent higher than the 551 billion yuan of contracted sales recorded last year, the most modest goal in terms of growth since at least 2015, according to a review of its past…

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Apple-related stocks hammered in China, Hong Kong markets after US smartphone giant cuts revenue outlook

Hong Kong and Chinese stocks pared early losses and traded slightly higher on Thursday morning, with Apple suppliers hammered after the smartphone giant slashed revenue outlook based on weaker-than-expected iPhone sales in China. The Hang Seng Index dipped as much as 0.4 per cent, before reversed into positive territory and traded up 0.3 per cent, or 82.93 points, at 25,212.82 as of 10:15am. Pressures on smartphone component suppliers around the world weighed on Hong Kong’s benchmark index, after it plummeted 2.8 per cent on Wednesday in the worst first trading…

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Apple shares plunge after CEO Tim Cook slashes revenue outlook, blaming China slowdown and trade war

Apple Inc has lowered its outlook for fiscal first-quarter revenue after an unexpected slowdown in demand from China and fewer upgrades to iPhone models. The announcement late on Wednesday sent Apple shares plunging. The company now expects revenue of about US$84 billion in the quarter ended December 29, Chief Executive Officer Tim Cook said in a letter to investors Wednesday. Analysts had been forecasting US$91.3 billion, according to data compiled by Bloomberg. Apple to update iPhone software after threat of China ban Apple shares fell 7.6 per cent in extended…

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