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How did this new China fund manager make a whopping 54 per cent in profits in one year for investors?

Xu Xiaoyong has returned 54 per cent for investors during his fund’s first year by hunting for stocks that can thrive despite the challenges facing China’s economy.That means buying liquor firms supported by resilient consumers or betting that domestic tech suppliers will see more demand from larger companies as a result of the trade war, encouraging innovation, said Xu, investment director of Changan Fund Management.Here’s why big investing firms are steering clear of China’s expensive,… Source link

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US-China trade war could squeeze profits of Taiwan’s top companies, S&P says

Taiwan’s biggest companies, particularly technology firms, could see their profits squeezed in the second half of this year and into 2020 as a trade war continues to escalate between the United States and China and the global economy slows, according to S&P Global Ratings.The credit ratings agency said makers of display panels, branded information technology, electronics manufacturing services and components could face “particular downside pressure on their profitability and debt leverage”.“We… Source link

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Chinese stocks close at highest in almost a month as MSCI raises weighting, industrial profits data improves

Chinese stocks climbed on Tuesday, with the Shanghai Composite Index gaining 1.4 per cent to close at its highest level in almost a month.Its gains contrasted with the Hang Seng Index, which ended virtually flat, as investors showed caution amid concerns about the city’s bleak growth outlook.The benchmark Chinese gauge closed at 2,902.19, the highest since August 1. The CSI 300, which tracks blue chips listed in both Shanghai and Shenzhen, also rose 1.4 per cent, to finish at 3,816.95.Profits… Source link

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Global 

China’s industrial profits bounce back in July, but long-term view remains negative amid trade war escalation

Profits at China’s large industrial firms recovered in July, posting year-on-year growth of 2.6 per cent, following a decline of 3.1 per cent in June.July’s growth was largely powered by the private sector, where industrial giants posted a 11.4 per cent rise in their profits. However, the broader picture shows that across the board, China’s industrial giants remain in relatively weak condition.For the year-to-date to July, total industrial profits were down 1.7 per cent, largely due to a long… Source link

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Vietnam 

Steel companies post low profits on rising iron ore prices – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Hòa Phát’s steel products. Hòa Phát Group (HPG) reported 6-per-cent increase in revenue to VNĐ15.3 trillion (US$656.7 million) in the second quarter but its profit after tax declined 7 per cent in the reviewed period. — Photo giasatthepvn.com HÀ NỘI — Second-quarter earnings of steelmaking companies showed signs of deterioration as prices of iron ore continued to increase, leading to higher production costs and lower profit. Hòa Phát Group (HPG), the biggest listing steelmaker, reported revenue of VNĐ15.3 trillion (US$656.7 million) in the second quarter, up 6 per cent year-on-year, but its profit…

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Vietnam 

Brewer Habeco Q2 profits highest since 2017 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A Habeco production line. The company has reported its Q2 post-tax profit reached the highest level in two years. — Photo tinnhanhchungkhoan.vn HÀ NỘI — The Hanoi Beer Alcohol and Beverage Joint Stock Corporation (Habeco) has reported its highest quarterly profit since April 2017. The company has announced its post-tax profit gained 12 per cent year on year to nearly VNĐ241 billion (US$10.36 million) in the second quarter of 2019. Its Q2 revenue was down 16.5 per cent year on year to VNĐ2.43 trillion. Despite the lower revenue, the increase in post-tax…

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Profits of Hong Kong-listed firms at risk as US-China trade war rages

Even as a new round of trade talks kicked off this week, the ongoing trade war between the United States and China is increasingly weighing on the bottom lines of both mainland and Hong Kong companies.More than two dozen Hong Kong-listed firms have specifically cited the effects of tariffs on demand for their products or a weakening global macroeconomic outlook because of rising protectionism in issuing profit warnings since the end of June, according to regulatory filings.Escalating trade… Source link

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China 

China’s industrial profits fall 3.1 per cent in June, as fears of trade war slowdown grow

Profits earned by China’s industrial firms slipped in June after a brief gain the previous month, fuelling concerns that a slowdown in manufacturing caused by the trade war with the United States will weigh on economic growth.China’s industrial profits have been in decline since the second half of last year, with many firms putting off business decisions and scaling back manufacturing investment.Economic growth in the second quarter of this year slowed to a near 30-year low.Industrial profits… Source link

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Vietnam 

VN-Index struggles as investors cash out for short-term profits – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

A VPBank office in Hà Nội. The bank’s shares fell 1.5 per cent on Wednesday as investors started cashing out from banks’ stocks following their rallies. — VNA/VNS Photo Quốc Việt HÀ NỘI — Vietnamese shares struggled on Wednesday as investors began cashing out from large-cap firms following recent rallies. The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched up 0.05 per cent to close at 982.57 points. The index was up as much as 0.35 per cent during the day. The VN-Index…

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China 

China’s SOEs posted record profits in June, but second quarter profit growth slowed substantially

Net profits at China’s state-owned enterprises hit record high of 158.5 billion yuan (US$23 billion) in June, a rise of 8.4 per cent from a year earlier, but net profit growth slowed substantially as the country’s economic growth rate slid to its lowest reading on record.For the first of half of 2019, the operating income of central government-owned firms reached 14.5 trillion yuan (US$2.1 trillion), a year-on-year increase of 5.9 per cent, according to data released by the State-owned Assets… Source link

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