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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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Vietnam 

Việt Nam wants IMF’s policy consultancy: Deputy PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

    Deputy Prime Minister Vương Đình Huệ received International Monetary Fund’s “Article IV consultations” delegation, headed by Alex Mourmouras in Hà Nội on April 12. — VNA/VNS Photo Dương Giang     HÀ NỘI — The Vietnamese Government hopes to receive advice from the International Monetary Fund (IMF) to improve its securities market, price regulation and macro-economic policies, Deputy Prime Minister Vương Đình Huệ said. Hosting a reception for the IMF’s “Article IV Consultations” delegation in Hà Nội on Friday, Huệ said Việt Nam was working to stabilise the macro-economy, accelerate economic restructuring, improves the business and…

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China 

China’s 2019 growth to slow to 6.2 per cent despite policy support, survey says

China’s economic growth is expected to slow to a near 30-year low of 6.2 per cent this year, a Reuters poll showed on Friday, as sluggish demand at home and abroad weigh on activity despite a flurry of policy support measures.The median forecast was slightly lower than the 6.3 per cent economists had predicted in the last poll in January.While the world’s second-largest economy has shown some signs of steadying recently, analysts caution it is too early to tell if the new-found momentum can be… Source link

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China 

China’s state pension fund to run dry by 2035 as workforce shrinks due to effects of one-child policy, says study

The urban worker pension fund, the backbone of the country’s state pension system, held a reserve of 4.8 trillion yuan (US$714 billion) at the end of 2018, but after peaking at 7 trillion yuan in 2027, will then drop steadily to zero by 2035. Photo: Xinhua Source link

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Investors, developers eye Hong Kong industrial buildings built before 1987 after city relaxes conversion policy

Property owners, investors and developers are taking advantage of a recent policy relaxation by the Hong Kong government, which seeks to encourage the conversion of old industrial buildings for commercial purposes, to generate higher rents and resale prices.Hong Kong textiles company Lawsgroup, for instance, last week began demolition at Maxwell Industrial Building, a property it owns in Kwun Tong, after receiving approval from the city’s Town Planning Board last month. It acquired the property… Source link

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China’s slowing economy gives its central bank chief the chance to make his mark on monetary policy history

Discussions about China’s interest rate liberalisation have been warming up since Yi Gang took over as governor of the People’s Bank of China (PBOC). This is not surprising given that Yi is a distinguished scholar, with central banking experience and expertise in monetary economics. Also, like his predecessor Zhou Xiaochuan, known as “Mr Renminbi” for leading the push for a global yuan, Yi is probably keen to make his mark on China’s monetary policy history.However, the ongoing market… Source link

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The Federal Reserve has halted policy normalisation. Now, other central banks should follow suit

World markets are taking a turn for the worse and crying out for central banks to adjust policies to stop the rot. Global manufacturing has taken a dive, stock market confidence is on the ropes and the US Treasury yield curve is firing early warning shots about a possible future recession. It is not panic stations yet, but the US Federal Reserve seems ready for action. The Fed cannot succeed in isolation and needs other central banks to join forces to stop a deeper crisis unfolding. The worry… Source link

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Vietnam 

New policy to speed up bad debt settlement – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI – The central bank is drafting a new circular regulating credit institutions’ trading and handling of non-performing loans (NPL) with the aim of forcing the institutions to focus more on bad debt settlement. Under the draft, private credit institutions, which still hold special bonds issued by the Việt Nam Asset Management Company (VAMC) – meaning they have not settled bad debts kept at the VAMC yet – will not be allowed to make dividend payments in cash. The fund must instead be used to handle…

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Property 

Hong Kong’s home buyers return in droves as banks kept mortgage rates unchanged amid a dovish monetary policy

Hong Kong’s property buyers are back in droves, as commercial banks kept the city’s mortgage rates unchanged amid a dovish policy stance by the local monetary authority.Across the city, four property projects with 891 flats in total were offered for sale in Lohas Park, To Kwa Wan, Yau Tong and West Kowloon in the biggest weekend launch in a year. As of 4:30pm, 447 of the total offering, or just over 50 per cent, had been sold, according to sales agents.“The purchasing power accumulated from… Source link

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Fed’s dovish policy will not erase carry trade risks in Hong Kong dollar, analysts say

The Hong Kong dollar’s rebound on Thursday after the US Federal Reserve surprisingly decided to halt its interest rate increases will only be temporary because traders will continue to exploit the gap between Hong Kong and US market interest rates trade activities conducted by traders as global central banks turn to similar looser monetary policies to combat the global economic slowdown, analysts said.The US dollar fell against Asian currencies, including the Hong Kong dollar, following the Fed… Source link

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