China 

All but one of China’s provincial level governments ran deficit at start of 2019, raising further funding fears

Fears over China’s ability to manage its domestic economy alongside the trade war with the United States have further increased after 30 of the 31 provincial level governments are reported to have ran at a deficit in the first six months of 2019.Shanghai was the only authority that ran a surplus financial position in the first six months of the year.This follows the takeover of Baoshang Bank in May and the bailout of the Bank of Jinzhou last week, and has increased the speculation over how many… Source link

Read More
Home 

Home auction demand rises in Australia, raising hopes of a market turnaround

Tumbling Australian home prices may have found solid ground amid the worst property downturn in a generation, as the real estate industry experiences a revival in auction demand, data showed.Australia’s central bank has been closely watching housing market weakness as two years of price declines have eroded wealth, undermining consumer confidence and spending power.The country’s housing stock is worth about A$6.8 trillion (US$4.8 trillion), according to estimates from the Australian Bureau of… Source link

Read More
Global 

Samsung’s last China smartphone factory closing, raising questions about China’s role in global value chains

In its heyday, Samsung’s complex in Huizhou in the northern part of the Pearl River Delta was the South Korean company’s largest Chinese factory, producing one in five smartphones sold in China in 2011. Now, the small shops and suppliers that surround the vast complex, the focal point for the community for 27 years, have fallen silent and a notice posted on the gate dated February 28 tells passers-by that recruitment has been suspended.“Actually, since February after the Chinese Lunar New Year,… Source link

Read More
Ecommerce 

Alibaba is said to weigh raising US$20 billion in Hong Kong second listing

Alibaba Group Holding is considering raising US$20 billion via a second listing in Hong Kong after a record-breaking 2014 New York market debut, according to people with knowledge of the matter, a mega-deal that will bring China’s largest company closer to investors in its home country.The e-commerce giant is working with financial advisers on the planned offering, the people said, asking not to be identified because the information is private. Alibaba is aiming to file a listing application in… Source link

Read More
China 

China bank lending slows more than expected in April, raising concerns about economic outlook

China’s new bank lending slowed more than expected in April, triggering new concerns over the country’s economic outlook and prompting fresh calls for further monetary easing against the backdrop of heightened trade tensions with the United States.Banks made 1.02 trillion yuan (US$150 billion) of new yuan loans in April, lower than market expectations for 1.2 trillion yuan in loans and the 1.69 trillion yuan in new lending in March, according to data released by the People’s Bank of China (PBOC… Source link

Read More
Home 

Hongkongers are ditching the idea that raising a child is a pathway to a golden retirement, survey finds

The Chinese traditional saying of “raising a child to prepare for retirement” is looking increasingly outdated as 26 per cent of Hong Kong parents nearing retirement age help pay for their adult children’s monthly living expenses, while 9 per cent help pay towards a home purchase for their children, according to a survey of AXA Hong Kong.The survey, released by AXA on Thursday, polled 1,013 Hong Kong people earlier this month, tracking the views of parents aged between 49 to 59 and a younger… Source link

Read More
Vietnam 

Banks target higher business goals, raising charter capital in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Transactions at a Vietinbank’s branch. — Photo vietnambiz.vn HÀ NỘI – Several banks approved their 2019 business targets and plans for raising capital in annual shareholders’ meetings on Tuesday. Vietibank (CTG), Việt Nam’s biggest bank by asset value, aims to hike its total assets by 2-5 per cent in 2019; total outstanding loans to rise by 6-7 per cent; total deposits to grow by 10-12 per cent; and bad debt below 2 per cent. The lender’s consolidated pre-tax profit is expected to reach VNĐ9.5 trillion (US$407.7 million) by end-year, up 41 per…

Read More
Home 

HNA mulls sale of Swiss aircraft maintenance firm SR Technics, potentially raising US$1 billion

HNA Group, the embattled Chinese conglomerate, is exploring options for Swiss aircraft-maintenance firm SR Technics including a potential sale, people familiar with the matter said.The Chinese group, which grew out of an airline on tropical Hainan island, is working with an adviser on the potential disposal, the people said. HNA’s 80 per cent stake in SR Technics could be valued at US$700 million to US$1 billion, said the people, who asked not to be identified because the matter is private… Source link

Read More
China 

Trade war: Chinese factory prices slow more than expected in December, raising threat of deflation

Chinese consumer and factory inflation decelerated more than expected in December, as the slowdown in the economy caused largely by the trade war with the United States reduced demand and put downward pressure on prices. The rate of inflation in prices charged by producers for their goods at wholesale level plunged in December, to 0.9 per cent from 2.7 per cent in November. The December result was well below the expectations for a 1.6 per cent rise, according to a Bloomberg survey, and was the weakest since September 2016, when…

Read More
Global 

Which is scarier: US Fed raising interest rates, or Donald Trump ratcheting up his trade war?

Asia could be excused for feeling a bit “fed up” with Donald Trump’s antics – literally. The US leader is engaged in an unprecedented tit-for-tat with the Federal Reserve over interest rate hikes. The Fed isn’t just any central bank. It is the keeper of the dollar and Treasury securities that are the core of the global financial system and a key pillar of Asia’s economic model. And now its credibility is potential roadkill, as Trump seeks to flip two different narratives. One is to dodge the blame for Wall…

Read More