Vietnam 

Vietnam stocks to progress amid profit-earning pressure – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

The benchmark VN-Index on the Ho Chi Minh Stock Exchange on Friday dropped 0.15 per cent to retreat from its four-day rally of total 4.8 per cent, ending last week at 950.89 points – a weekly increase of 4.64 per cent.— VNA/VNS Photo HÀ NỘI – After performing quite well in the first trading week after returning from a week-long Tết (Lunar New Year) holiday, market volatility is in focus this week with strong profit-taking possible following the…

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Home 

Hong Kong’s glut of unsold flats could put more pressure on prices

Hong Kong home builders could face greater pressure to slash ­prices as the number of completed but unsold new flats they held increased at the end of last year. Analysts said some home builders would offload stock by cutting prices by 5 per cent to 10 per cent from the current levels on completed unsold units, stepping up efforts to lower inventory as the government’s proposed vacancy tax looms. The city’s developers held 3,295 unsold homes which were completed in 2017 and 2018 as of December, about 10 per cent…

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Vietnam 

No huge pressure on exchange in 2019: forecast – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Experts have forecast minimal pressure on exchange rates in 2019, with little chance of significant volatility. According to a recent report by SSI Securities Corporation, the continued devaluation of Chinese yuan could pressure the Vietnamese đồng. However, after overcoming the most difficult period – beginning of the US-China trade war, market members and management agencies are now prepared. The company predicted the volatility of the US dollar against Vietnamese đồng would be the same as 2018 with little chance for sudden…

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China 

China rushing through overseas investment reform at unprecedented speed ‘under pressure from US’

Under pressure from the United States’ demands to reform its economy as part of the ongoing trade war, China is rushing through a law that would offer more protection to foreign companies, business leaders said. The law aims to “further expand the scope of opening-up, to actively promote foreign investment, to protect the lawful rights and interests of foreign investment”. It covers many of the items on the wish list of reforms issued by US President Donald Trump after his summit with Xi Jinping in Buenos Aires in November, including…

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Investment 

Chinese developer behind Tuen Mun nano flats comes under severe selling pressure as shares plunge 80pc in Hong Kong

Chinese property developers in Hong Kong came under severe selling pressure, with the shares of two builders sinking by as much as 80 per cent in late trading on Thursday afternoon. Analysts said the stocks may have taken a hit because of banks selling shares used as collateral to borrow money and tightening liquidity conditions on the mainland. Jiayuan International Group, which is behind the T Plus micro flat project in Tuen Mun, plunged 80.9 per cent to HK$2.49 at the close. The mainland-based developer has been under pressure as…

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Home 

Hong Kong-based digital currency exchange BitMEX ditches clients in US, Quebec amid regulatory pressure

BitMEX, the bitcoin futures exchange that has leased Hong Kong’s most expensive office in Cheung Kong Center for US$600,000 a month, has been shutting down client trading accounts in the US and the Canadian province of Quebec, as global regulators intensify their crack down on unlicensed cryptocurrency trading platforms. The development comes at the same time as the Hong Kong-based company notifying users in North Korea, Iran, Syria, Cuba, Sudan and Sevastopol in the Crimea since the fourth quarter of 2018 against holding positions or trading on BitMEX, as these…

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Home 

As if a weakening economy was not enough, election uncertainty piles further pressure on Philippine peso

After falling for six straight years, the Philippine peso is now facing an additional threat: a midterm election that may compound concerns about its economy. As the nation gears up for polls due in May, political uncertainties may pose an added source of pressure to those stemming from its long-running deficits. With risk appetite likely to remain fragile because of fears of a global slowdown, traders may drive the peso back below the 13-year low set in October. “The overarching downside risks will probably emanate from risk-off sentiment refocusing worries…

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Vietnam 

Exchange rate in 2018 stable despite pressure – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News In 2018, the State Bank of Việt Nam (SBV) maintained active and flexible management of the exchange rate to keep the domestic market stable in the face of international pressure. SBV Deputy Governor Nguyễn Thị Hồng speaks to Vietnam News Agency about this issue. How did the SBV manage an efficient monetary policy in 2018? The State Bank actively and flexibly governed monetary policy in 2018 when the world economic and political situation faced many challenges and unusual fluctuations. At the same…

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Huawei dials up the charm as global pressure builds after arrest of CFO Meng Wanzhou

Guided tours of some of its most sensitive facilities. A private sit-down for international media with its top executive. A heartfelt personal diary describing a devastating earthquake. In the weeks since the shock arrest of its chief financial officer, Huawei Technologies has almost become a different company. The detention of Sabrina Meng Wanzhou in Canada has shone an unprecedented spotlight on China’s largest technology company, which found itself thrust into the centre of US-Chinese tensions. Huawei blasts US ‘fearmongering’ as security concerns sharpen following arrest of Meng Wanzhou Because the…

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China 

Government think tank’s defence of China’s economic model points to reluctance to change tack in face of US pressure

A government research team in Beijing has vigorously defended the country’s state-directed economic model from foreign criticism – in a further sign that China may not give too much ground to US demands for changes to its economic model. In an 87-page report released on Thursday, the Development Research Centre, a key governmental think tank linked to the State Council, attributed the country’s massive economic progress over the past four decades to its cohesive political governance and an embrace of an open economy. The researchers also said their study did…

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