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South Koreans plough into offshore property markets as mainland Chinese pare down investments

Mainland China’s investments in overseas properties plunged last year amid stringent capital controls and a push by the government to get companies to put their money into belt and road infrastructure projects instead.The vacuum left behind has opened up opportunities for other Asian countries to increase their global real estate portfolios, according to analysts. South Korea in particular has benefited.In 2018 and the first quarter of this year South Koreans spent US$3.47 billion on overseas… Source link

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China stocks lose ground for a third day on concern government to pare policy loosening

China’s stocks dropped for a third consecutive trading day, with a 2.1 per cent gain on the benchmark evaporating, as concerns that the government will scale back policy easing countered credit growth that exceeded analysts’ estimates.The Shanghai Composite Index fell 0.3 per cent, or 10.84 points, to 3,177.79 at the close on Monday. The ChiNext gauge of small companies declined 1.7 per cent. Hong Kong’s Hang Seng Index slipped 0.3 per cent to the lowest level in almost two weeks.Equities… Source link

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Money 

Chinese arms dealer Norinco tussles with Jiangsu’s richest man for a portion of Abu Dhabi oil in CEFC’s fire sale to pare debt

A strategic stake in the United Arab Emirates’ largest crude oil producer is up for grabs in a fire sale that is underway half a world away in Beijing, where CEFC China Energy is being broken up in the Chinese government’s campaign to pare back private sector debt. CEFC’s main creditor China Development Bank is putting the Chinese company’s 4 per cent stake of Abu Dhabi National Oil Corporation (Adnoc) up for sale, according to three sources familiar with the plan. Two front runners are competing for the stake: the…

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Investment 

HNA unit pledges 75pc of shares with China Construction Bank as parent looks to pare billions in debt

HNA Technology Investments, a unit of HNA Group, said on Wednesday its controlling shareholder has pledged 75 per cent of the company’s shares with China Construction Bank against loans, heightening the risk of share price fall. Companies that have pledged a large amount of shares tend to witness higher volatility in their shares as it’s difficult for them to increase their pledges when prices fall. It may cause lenders to sell these shares on the market to maintain the margin, which can lead to further price falls. Six other units…

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