Vietnam 

VN Gov’t did not intervene in domestic carbon steel prices: Canadian agency – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Vietnamese Government was found not to have intervened in the domestic prices of the carbon steel welded pipe industry, according to Canada Border Services Agency. – VNA/VNS Photo Viet Nam News During the period of investigation, imports from Việt Nam accounted for 12 per cent of total imports of carbon steel welded pipe. The volume of imported carbon steel welded pipe to Canada grew from 47,657 tonnes in 2015 to 91,739 tonnes during the period of investigation, Canada’s statistics showed. — VNS Source link

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Vietnam 

Gold selling price’s rise varies from store to store on God of Wealth day – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers buy gold for luck at Bảo Tín Minh Châu Jewellery and Gemstone Company. Viet Nam News HÀ NỘI — Gold selling prices witnessed an increase at some stores while in others unchanged on God of Wealth Day, the 10th day of the Lunar New Year, which fell on February 14 this year. Legend has it that the God of Wealth returns to heaven on this day, so Vietnamese people have a tradition of buying gold for luck and prosperity throughout the year. At 8:15 this morning,…

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Property 

Brace for a 20 per cent decline in Hong Kong home prices, says senior director of CK Asset

Hong Kong home prices could be headed for a multi-year downtrend that knock valuations by up to 20 per cent, prompting major developers to slash prices for new homes along with the sliding market, according to a senior executive at CK Asset Holdings, the second largest developer in Hong Kong by capitalisation. CK Asset executive director Justin Chiu Kwok-hung said on Tuesday that home prices could drop 10 per cent this year and by up to 8 to 10 per cent next year, amid simmering trade tensions between China and…

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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 

Ample goods, steady prices mark Tết in HCM City – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers at a supermarket in HCM City. Thanks to careful preparation by the city authorities, there were no shortages of goods during Tết, the biggest shopping season of the year, or price increases. — VNS Photo Xuân Hương Viet Nam News HCM CITY — The HCM City consumer market was steady during Tết (Lunar New Year) holiday, according to the city Department of Industry and Trade. In a report to the municipal government, it said the price-stabilisation programme has been implemented efficiently, helping prevent any supply shortfall or…

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Home 

Efforts to contain outbreak of swine fever in China rock pork industry, depressing prices

Efforts to contain an outbreak of African swine fever have rocked the Chinese pork industry, leading to an unexpected drop in prices during the Chinese New Year holiday season. While pork lovers in the mainland may be celebrating lower prices during this week’s festivities, the party isn’t expected to last in the world’s largest pork-producing country. With so many pigs having either been destroyed or taken to market early to avoid being swept up in containment efforts, a shortage of the Chinese staple is expected in the second half of…

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Sales of used homes in Hong Kong gain momentum as owners slash prices

Sales of used homes on big housing estates in Hong Kong gained momentum last week as homeowners offered greater discounts and investment banks forecast house prices would hit a nadir in March. The number of transactions at 50 major housing estates, tracked by Ricacorp Properties, stayed above 100 for a fourth consecutive week, reaching 138 in the week ended February 3, a 40-week high. “Owners are less aggressive with their asking prices. Prices are generally down 5 to 10 per cent from the peak,” said David Chan, director of Ricacorp…

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A successful US-China trade deal would boost copper, aluminium prices, analysts say

The recent rebound in prices of several key industrial metals will continue this year – and would get an added boost by a successful US-China trade deal, analysts say. But prices of such metals may be volatile, analysts said, as the US and China try to work out difficult issues. Washington accuses China of behaving unfairly by forcing technology transfers for market access, applying non-tariff barriers, and violating intellectual property rights. “Recent US equity market sell-offs and increasing threats to the US economy by the trade war may incentivise [President…

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Property 

Shanghai mayor Ying Yong rules out easing control on home prices even as economy slows down

Shanghai’s mayor Ying Yong said on Thursday that he will do everything in his power to stabilise the housing market, ending speculation that the city would loosen its grip on the sector as it faced an uphill task of sustaining growth amid fears of a slowing economy. “We must bear in mind that controlling prices of land and homes is not a makeshift policy,” the mayor told a press conference after the close of the annual session of Shanghai People’s Congress. “We will stand firm in stabilising the property market…

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Vinda net profit rises 4.6 per cent, as product price hike helps offset higher pulp prices

Vinda International Holdings, the maker of China’s bestselling brand of toilet paper, reported on Thursday 2018 net profit rose 4.6 per cent, helped by price increases that bolstered revenue and provided a cushion against higher pulp prices and foreign ­exchange volatility. Vinda’s net profit grew 4.6 per cent to HK$649.31 million (US$82.76 million) for the year, up from HK$620.96 million in 2017. The company’s gross profit margin fell by 1.6 percentage points due to exchange rate fluctuations and a surge in pulp prices. Revenue rose 10.3 per cent to HK$14.88…

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